Raise from the people
who already know you.
506(b) is for relationship-based raises. No advertising, no public posts, no cold outreach. Every investor must have a pre-existing relationship with the issuer. Manifold enforces this digitally.
The SEC requirements
What 506(b) requires. What we handle.
Pre-existing relationships
Every investor must have a documented, substantive relationship with the issuer prior to the offering.
No general solicitation
You cannot publicly advertise or broadly share the offering. No social posts, no ads, no press.
Up to 35 non-accredited
You can include up to 35 sophisticated but non-accredited investors, alongside unlimited accredited investors.
Self-certification
Investors self-certify their accredited status. No third-party verification required. Simpler for everyone.
The digital handshake
Double attestation protocol.
The SEC requires that 506(b) investors have a pre-existing, substantive relationship with the issuer. Manifold turns this regulatory requirement into a seamless digital step.
When you upload your investor list, you attest how you know each person. When that investor receives their invitation and clicks through, they independently attest how they know you. Only when both sides align does the system grant access. This is logged, timestamped, and stored.
Issuer uploads contact list with relationship context
System sends secure email invitation to each contact
Investor clicks link, provides independent attestation
Double match verified. Portal access unlocked.
Issuer attestation
How do you know Sarah Chen?
“Former colleague at Stripe. Worked together 2019–2022 on payments infrastructure.”
Investor attestation
How do you know the issuer?
“We were on the same team at Stripe for three years. I know the founder personally.”
Relationship verified. Access granted.
Want to combine 506(b) with 506(c)?
Reserve a portion of your shares for your existing network under 506(b) while simultaneously running a public 506(c) offering for new investors. Manifold supports hybrid structures natively.