Portfolio
The fund is in formation and has made no investments yet. This page is here so that what will appear on it is fixed in advance.
What will be published for every company
Name, stage at entry, what we thought was true when we invested, and — where the founder agrees — what we got wrong. The last item is the one that makes the rest worth reading.
We will not publish a company that has asked to stay quiet, and we will say that a position exists rather than hide the gap.
Reporting
Publicly: the method’s record, not the marks. Portfolio valuations before an exit are opinions, and a fund quoting its own opinions as performance is how this industry got its reputation.