Time allows for discerning between luck and skill for a manager / founder. The first loss structure is a forcing function that accelerates time for all parties unveiling quicker skill.

RCP defines the value proposition for the investor as it addresses the risk directly by keeping it mutually aligned, hence mitigating it for the investor.

• Full transparency at all times with real time mark-to-market vs. PE or VC and hence no risk of overvaluation

• Principally protected on the downside

• No liquidity mismatch for levered strategies

• Quarterly distribution of cash flow yield

• Positive cash returns on invested capital

• Solves behavioral issues such as herding and loss aversion

We have adopted a modified approach to first loss for traders or new strategies where it benefits ALL parties