Investing in venture capital funds, private equity funds, private credit, real assets, special purpose vehicles (SPVs), co-investments, and other alternative strategies is high risk and illiquid. These investments are suitable only for sophisticated, qualified investors who can withstand the loss of their entire investment and tolerate long holding periods, limited information rights, and infrequent pricing.
Illiquidity & duration. Secondary markets are limited or unavailable; realizations can take many years. Interim marks may be model-based and revised without notice.
J-curve dynamics. Private funds frequently experience early negative returns from fees and write-offs before realizations (if any).
Failure rates & dilution (VC). Startup failure rates are high; down rounds, extensions, and dilutive follow-ons are common. SPVs are single-asset and can go to zero.
Leverage & control (PE). Buyouts/growth equity often use leverage and concentrated ownership—magnifying both upside and downside.
Credit & rate risk (private credit). Defaults, weak covenants, liquidity gaps, and rate moves can impair outcomes; recoveries are uncertain.
Real assets & project risk. Commodity sensitivity, policy changes, environmental factors, FX, and execution risk can materially affect value.
Key-person & concentration. Manager turnover, strategy drift, vintage dispersion, and concentrated portfolios increase uncertainty.
Operational & conflict risks. Side letters, fee/expense allocations, cross-vehicle participation, and co-investment selection can create actual or potential conflicts managed under governing documents.
Past performance—of any fund, SPV, lead, portfolio company, manager, or platform participant—does not guarantee future results. No outcome is assured, and there is no guarantee any fund or account will achieve its objectives.
All AncoraOak Studio (“AOS”) materials—websites, investor portals, data rooms, emails, dashboards, research notes, and other channels—are provided solely for informational discussion. They do not constitute investment, legal, tax, or financial advice and must not be used to make an investment decision. No offer or solicitation is made by AOS through these materials; any opportunity (if available to you) will be offered only via definitive documentation that contains the full terms, risks, fees, and expenses, and may differ materially from any summaries or illustrative content.
Access to opportunities (if any) is restricted to users who satisfy applicable eligibility standards (e.g., accredited/qualified/permitted) and complete required onboarding. Access may be limited by jurisdiction, sanctions, issuer requirements, or other conditions; additional representations or documentation may be required.
Examples of past investments or outcomes shown by AOS are illustrative only and do not represent the full universe of investments made on or off the AOS platform. There is no guarantee any AOS-sponsored fund, SPV, or account will achieve the same exposure to—or quality of—portfolio companies as any example presented.
AOS returns depictions may include investments by institutional or professional investors who often enjoy superior access to opportunities, information, and economics (e.g., fees, co-invest allocations). Returns realized by such investors can differ materially from returns achievable by other investors. Any charts, case studies, IRR/MOIC figures, or distributions may reflect select time periods, unrealized valuations, or assumptions and may change without notice.
Unless stated otherwise, figures and charts are for information only and should not be the basis of an investment decision. Some information may come from third-party sources believed reliable but not independently verified; accuracy can change and AOS does not undertake to update prior materials. Where AOS publishes platform metrics, they reflect internal methodologies and defined terms (see Section 9) and may be updated over time.
Materials may include forward-looking statements, projections, targets, or model outputs that involve significant assumptions and uncertainties; actual outcomes may differ materially. AOS has no duty to update such statements.
AOS materials do not imply that AOS is acting as your investment adviser, broker-dealer, or fiduciary with respect to any transaction unless expressly agreed in writing. Where an offering is conducted, it will be made under applicable exemptions and governing documents; eligibility, transfer, and resale restrictions generally apply.
Fees, carried interest, administrative charges, and reimbursable expenses are set out in the definitive documents for the relevant product/vehicle and may vary by deal, cohort, or investor class. AOS, AncoraOak Advisors LLC, its affiliates, personnel, or related parties may invest alongside you or otherwise have interests in vehicles, portfolio companies, or service providers referenced in our materials. Such interests can create actual or potential conflicts managed under applicable policies and governing documents.
To avoid ambiguity, when AOS publishes aggregated platform metrics, we may use terms like:
Deal - an investment executed by an AOS-hosted vehicle (e.g., fund, rolling/series vehicle, SPV).
AOS Funds - pooled investment vehicles hosted on the AOS platform that are designated as funds within our systems.
Syndicate / SPV - a special purpose vehicle hosted on the platform for a specific investment or follow-on.
Fund managers - individuals or entities who have operated an SPV or fund on the platform.
Investors - persons or entities who have invested into AOS-hosted vehicles.
Unicorns - private companies publicly reported to have post-money valuation ≥ $1B (based on third-party reporting).
Returns distributed - realized distributions to investors and, where applicable, carried interest to managers recorded within AOS systems.
Administrative fee savings (estimates) - internal estimates comparing AOS workflows to market-rate alternatives; actual results vary.
These are AOS internal methodologies and may change as our platform evolves.
Quotes or testimonials regarding AOS’s services—whether from investors, founders, managers, or industry participants—must not be construed as an endorsement of AOS’s advice, analysis, or any service rendered. The appearance of a firm or individual (e.g., as a co-investor, service provider, or reference) is for identification only and does not imply affiliation, sponsorship, or approval by that party. Outcomes experienced by any quoted party may not be typical and are not predictive of future results.
Views expressed in “posts” (including blog posts, research notes, podcasts, videos, webinars, and social media) may reflect the opinions of the individual authors, guests, or presenters and do not necessarily reflect the views of AncoraOak Advisors LLC, AncoraOak Asset Management Inc., or their affiliates. Editorial content is provided solely for informational purposes and should not be relied upon as investment, legal, tax, or accounting advice.
Company valuations, interim marks, and unrealized positions often rely on limited, lagging, or third-party information and may not reflect subsequent events (down rounds, recaps, extensions, or failures). Interim marks can differ from ultimate realizations; any valuation information should be considered tentative and subject to change.
Private fund, SPV, or company interests are generally not listed, may be subject to transfer restrictions, and often cannot be easily resold. Distributions (if any), timing, and exit routes are uncertain. Secondary processes—if referenced—are complex and not guaranteed; any facilitation services are provided only subject to separate agreements.
Platform features may rely on third-party integrations (e.g., identity verification, e-signature, storage, payments). Those providers may change or discontinue features; AOS is not responsible for third-party services or their accuracy/availability.
United States. Offerings (if any) are made pursuant to applicable exemptions and are not registered with the SEC; investors should rely on specific offering documents. Certain managers may be ERAs or RIAs; you may consult publicly available regulatory filings where applicable.
Canada & other jurisdictions. Eligibility categories, disclosure regimes, and restrictions differ by country; investors should rely on local offering documents and professional advisers.
Tax treatment depends on investor-specific circumstances and jurisdiction. AOS does not provide tax advice; investors should consult professional advisers. Certain vehicles may issue schedules or forms (e.g., U.S. K-1s) as described in their governing documents.
Figures, definitions, examples, pricing, savings estimates, and product features reflect AOS’s views as of the indicated date and may change without notice. AOS is not obligated to update prior materials or provide revisions.
Venture Capital Funds / SPVs. High failure rates; extreme dispersion; adverse selection in co-invests; long duration; reliance on follow-on capital; uncertain secondaries; governance limits; subjective valuation.
Private Equity (Buyout/Growth). Leverage/refinancing risk; integration/execution risk; key-person risk; concentrated portfolios; operational underperformance; regulatory/antitrust issues; cyclicality.
Private Credit / Special Situations. Borrower default; recovery uncertainty; illiquidity; covenant structures; collateral realization risk; rate/spread volatility; structural priority complexity.
Real Assets / Infrastructure / Energy. Commodity volatility; environmental and permitting risk; counterparty risk; cost overruns; force majeure; climate/weather exposure; FX and political risk.
Secondaries / GP-led / Continuation. Pricing/model risk; conflict management; concentrated assets; cash-flow timing uncertainty.
Listed Alternatives / Hedged Strategies. Shorting/derivatives risk; liquidity squeezes; basis/model risk; leverage magnifies losses.
Important notice. The information on this page is provided for informational and discussion purposes only; it is not a recommendation or offer of any kind. Any transaction will occur, if at all, only under definitive documentation that includes the complete terms, risks, fees, and expenses—and may differ materially from any summaries or charts referenced here.
Last updated: October 1, 2025
