Who holds the money in a group fund?
The Chairman does, in a wallet only they control. A fund has one wallet and one set of keys. Whoever opened the fund holds them, which is what the seat means. Opusfund never takes custody, and the CEO can only ever send money to addresses the Chairman has whitelisted.
One wallet, one set of keys
There is no shared account and no joint custody, because a non-custodial wallet does not work that way. Someone holds the keys. In a group fund that someone is the Chairman, and the rest of the table is trusting them the way you trust a friend who books the trip.
Worth saying plainly: if you put USDC into someone else's fund, you are relying on them. Opusfund cannot get it back for you, and neither can they get it back from us, because it was never ours.
What that changes for everyone else
Not much day to day. Friends at the table read the memos, talk to the CEO, and argue about positions exactly like the Chairman does. What they cannot do is move the money out.
If that sits badly, run a fund each instead. Same group, same conversation, and nobody is holding anybody's capital.
What nobody can do, including us
It trades your money. It can never take it. The CEO places positions and it can send funds only to a whitelisted address, which takes a code sent to the Chairman to add. Opusfund holds no keys to your wallet, so closing a seat removes the CEO and never touches the capital.