Strategy

Venture

Early positions sized on the assumption that most will not return capital.

Risk profile

High

Liquidity

Illiquid

Typical horizon

Long

Capital structure

Equity / convertible

Opportunity type

Seed through growth stage

Risk, liquidity and horizon are indicative descriptors of each strategy type. They are not forecasts, and no return is shown or implied.

The path

From interestto position.

Eight steps, in this order, every time. Nothing is released before eligibility is established.

Focus, horizon and typical participation size.

Identity, corporate ownership and source of funds.

Whether this strategy is appropriate for you, documented.

Non-disclosure, then materials released on record.

Terms, security and the exit agreed before entry.

Reviewed and approved before any commitment.

Documentation, conditions precedent, drawdown.

Scheduled reporting through the hold to realisation.