I understood that the costs of the search phase (included the searcher’s salary) are paid by the accelerator (the total costs usually correspond to###-###-#### k dollars). This amount is then given back to the accelerator at the moment of the acquisition, usually added to the acquisition price. In addition, a part of the accelerator’s renumeration, obviously, comes from the capital gain of the investment at the exit moment.

So, my question regards the renumeration of all the work done by the accelerator together with the searcher, which is presented to the investors. The accelerator will ask a compensation for the work dedicated to the searching process that gives to the investors the opportunity to invest in an in-depth studied and profitable deal:

- Are there any fees, like in club deals, that investors pay to be contacted and selected when the accelerator have a deal opportunity? Eventually, what is the common percentage of these fees? - Otherwise, are there fees (carried interest) at the exit moment where the accelerator takes a part of the earnings of the other investors (only once the hurdle rate is reached)? What is the common percentage of the carried interest in this case? - Does the accelerator take part of the earning of the searcher? What is the percentage amount that will be given to the accelerator?

Many thanks in advance for any answer I may receive