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Frontier Fund (IRA)
Exposure to 8 AI Innovators with 1 Investment
Our new A.I. Frontier Fund (IRA) offers exposure to Groq*, Glean, and six other innovative companies leveraging AI/machine learning across industries. Groq just announced a $6.9B valuation, more than double its valuation in August 2024. Glean, which is currently exclusive to this Fund on StartEngine, reached a $7.2B valuation in June, up from $4.6B nine months prior. 4,5
Five of our six Funds have sold out. Limited to 100 Spots. Self-Directed IRA Only.
Minimum Investment $14,987.28
This Reg D 506(c) offering is made available through StartEngine Primary, LLC, and the securities are being offered and sold only to accredited investors through general solicitation. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
* Indirectly owned; specifically, entitled to an economic interest in the underlying company through ownership of Special Purpose Vehicle (“SPV”) interests. See Footnote 3 for additional details.
Fund Breakdown*
Anticipated breakdown assuming a fully subscribed offering:
* The allocation percentages may slightly change based on how much capital will be raised for the fund. Some of the allocations might not have direct share ownership based on the transfer restrictions out of our control, however, the fund will be a direct beneficiary.
** Indirectly owned; specifically, entitled to an economic interest in the underlying company through ownership of Special Purpose Vehicle (“SPV”) interests. See Footnote 3 for additional details.
CEO & Co-Founder of StartEngine
“A.I. is reshaping industries in real time. Our new A.I. Frontier Fund (IRA) is one of our most diversified Funds yet, offering exposure to Groq, Glean, and six other companies driving that transformation — all with a single investment.”
Reasons to Invest
Raising “More Than Expected” Enroute to $6.9B Valuation
In September, Groq announced a $750M round at a $6.9B valuation, more than double its valuation in August 2024 ($2.8B). TechCrunch described Groq as a “hot commodity” among potential AI chip makers challenging NVIDIA’s position in the market.⁴
Creating a “Customized ChatGPT” for Enterprise Clients
Since launching in 2019, Glean has grown from a search tool for company data into a leader in enterprise productivity. The company raised a $150M Series F at a $7.2B valuation in June, up from a $4.6B valuation achieved just nine months prior.⁵
Outperforming NVIDIA’s H100 & A100 GPUs on Key Tests
According to internal tests, d-Matrix’s Corsair platform increased throughput 9x better than NVIDIA’s H100 GPU and 27x better than its A100 GPU. The company has raised $154M to date from established investors like M12 (Microsoft’s Venture Fund).⁶
Delivering Maritime Intelligence to Global Powers
Saildrone’s AI-powered unmanned surface vehicles deliver maritime intelligence to military, government, and commercial customers. This year alone, Saildrone partnered with Palantir and secured $60M to provide intelligence to NATO countries in Europe.⁷
There is no guarantee the valuation, revenue and growth for these companies will continue.
About the Portfolio Companies
Groq is aiming to take on NVIDIA with “amazingly low latency” and “extremely fast inference. Unlike graphics processing units (GPU) offered by NVIDIA and AMD, Groq’s “language processing unit” (LPU) uses static random-access memory to provide AI inference in the cloud and in on-prem AI compute centers. Groq’s LPU could potentially boost ChatGPT speeds by 13x. OpenAI is putting that to the test by launching two open models on GroqCloud. To date, Groq has raised $3B already raised from investors like Blackrock, Samsung, and Cisco, including a recent $750M round at a $6.9B post-money valuation.
Valuations referenced are from private placements and do not represent a public-market price. These securities are illiquid, and any future trading, if available, may occur at materially lower prices than these valuations. This information was reported by a third party and has not been publicly confirmed by the company involved or independently verified by StartEngine Primary, LLC. See footnote 12 for additional info.
* Indirectly owned; specifically, entitled to an economic interest in the underlying company through ownership of Special Purpose Vehicle (“SPV”) interests. See Footnote 3 for additional details.
Raised as of July 2025: $1.80B (through Series D-3)
Notable Investors: BlackRock, Cisco Investments, Samsung Catalyst Fund, Neuberger Berman
Leadership Team: Jonathan Ross, CEO & Founder was previously a hardware engineer at Google, where he helped develop AI and machine learning technologies.
Press:
1. Sacra Equity Research: Groq
2. Yahoo! Finance: Groq CEO Talks OpenAI Partnership & New GPT-5 Model
3. AI Magazine: Groq’s European AI Data Centre Expansion with Equinix
4. VentureBeat: Groq Just Made Hugging Face Way Faster — and It’s Coming for AWS and Google
The information above may not be accurate or complete and has not been independently verified. See footnote 12.
You can read more about Groq here.
Glean is aiming to become the “Google for work” with an AI-powered search platform designed to boost enterprise productivity. The company tripled its annual recurring revenue (ARR) in 2024, with customers like Reddit, Instacart, and Pinterest. Glean raised a $150M Series F at a $7.2B valuation in June, up from a $4.6B valuation achieved just nine months prior. Notably, Glean was one of five AI companies that OpenAI asked its investors to avoid backing.
Valuations referenced are from private placements and do not represent a public-market price. These securities are illiquid, and any future trading, if available, may occur at materially lower prices than these valuations. This information was reported by a third party and has not been publicly confirmed by the company involved or independently verified by StartEngine Primary, LLC. See footnote 12 for additional info.
Raised as of Jun 2025: $765.30M (through Series F)
Notable Investors: Coatue, Sequoia, SoftBank, Kleiner Perkins, General Catalyst
Leadership Team: Founded by Arvind Jain (ex-Google, Rubrik), Vishwanath T R (ex-Facebook, Microsoft), and Tony Gentilcore (ex-Google, Chrome Speed Team).
Press:
1. Fast Company: The AI Company Creating a Customized ChatGPT for Your Business
2. Yahoo! Finance: Glean Introduces Third-Generation AI Assistant
3. CNBC: Glean Raises $150M in Deal Adding Billions to Valuation
The information above may not be accurate or complete and has not been independently verified. See footnote 12.
You can read more about Glean here.
With Corsair, d-Matrix is enhancing performance, energy efficiency, and cost savings for modern AI workflows. Notably, d-Matrix increased throughput 9x better than NVIDIA’s H100 GPU and 27x better than the company’s A100 GPU. Since 2019, has raised $154M from a long list of established investors. That includes a $110M Series B in 2024 led by Temasek and a $44M Series A in 2023 joined by M12 (Microsoft’s Venture Fund). The company is carving out a niche in an AI chip market projected to hit $323.1B by 2030.
Raised as of May 2025: $450.19M (through Series C-2)
Notable Investors: Playground Global, M12: Microsoft, Ericsson Ventures, Samsung Venture Investment, Nautilus Venture Partners
Leadership: Founded by Sid Sheth (ex-Inphi, Intel) and Sudeep Bhoja (ex-Inphi CTO, Broadcom).
Press:
1. TechRadar: Tech Startup Proposes a Novel Way To Tackle Massive LLMs Using the Fastest Memory Available to Mankind
2. Business Wire: GigaIO and d-Matrix Advance Strategic Collaboration to Build World’s Most Efficient Scalable Inference Solution for Enterprise AI Deployment
3. TechPowerUp: Corsair by d-Matrix Enables GPU-Free AI Inference
The information above may not be accurate or complete and has not been independently verified. See footnote 12.
You can read more about d-Matrix here.
Saildrone’s unmanned surface vehicles (USVs) are equipped with advanced sensors and proprietary AI to provide persistent insights above and below the sea surface. With more than 2,000,000 nautical miles sailed and 50,000 days at sea, the company has already serviced military, homeland security, and commercial customers, including the U.S. Navy, U.S. Coast Guard, Custom and Border Protection, NOAA, NASA, and more. Just this year, Saildrone has partnered with Palantir, and secured a $60M round, with intent to provide intelligence to countries amid rising threats in Europe.
* Indirectly owned; specifically, entitled to an economic interest in the underlying company through ownership of Special Purpose Vehicle (“SPV”) interests. See Footnote 3 for additional details.
Raised as of May 2025: $246.20M (through Series C-1)
Notable Investors: Emerson Collective, Crowley Maritime Corporation, Lux Capital, Tribe Capital
Leadership: Richard Jenkins, Founder & CEO, a mechanical engineer from Imperial College London who set a world speed record with a wind-powered vehicle.
Press:
1. Sacra Equity Report: Saildrone
2. DefenseNews: NATO Testing Baltic Sea Drones to Track Russian Warships, Freighters
3. Signal: U.S. Navy Saildrones On: Innovative Solutions for a More Secure and Robust Environment
4. Breaking Defense: Saildrone, Palantir Partner to Use AI To Streamline USV Manufacturing, Operations
The information above may not be accurate or complete and has not been independently verified. See footnote 12.
You can read more about Saildrone here.
RegScale automates compliance and security monitoring so companies can stay continuously audit-ready and strengthen cybersecurity. After tripling ARR in the last year, RegScale has attracted numerous industry awards, as well as support from Microsoft’s Startups Pegasus Program and the U.S. Department of Homeland Security. After raising a $20M Series A in 2022, the company just announced an oversubscribed $30M Series B, with participation from M12 (Microsoft’s Venture Fund), Hitachi Ventures, and others.
* Indirectly owned; specifically, entitled to an economic interest in the underlying company through ownership of SPV interests. See footnote 3 for additional details.
Raised as of Feb. 2024: $32.47M (though Series A-1)
Notable Investors: Secure Octane, SineWave Ventures, SYN Ventures
Leadership: Led by co-founder Travis Howerton (former CTO of the U.S. nuclear weapons program; ex-Oak Ridge National Lab)
Press:
1. PR Newswire: RegScale and Cyber Risk Institute Collaborate to Transform Financial Risk and Compliance Management
2. Channel Insider: Defense Tech Funding Sets a New Record This Year
3. WashingtonExec: Top Public Sector Leaders to Watch: RegScale’s Steven A. Coles
The information above may not be accurate or complete and has not been independently verified. See footnote 12.
You can read more about RegScale here.
Medallion’s AI-powered platform streamlines some of the most complex and bottlenecked administrative processes for approximately 1M healthcare providers nationwide. The company’s momentum earned it a spot on Forbes’ 2023 list of the Next Billion Dollar Startups and attracted $130M from well-known investors like GV (Google), Salesforce Ventures, Sequoia Capital, and Elad Gil.
* Indirectly owned; specifically, entitled to an economic interest in the underlying company through ownership of SPV interests. See footnote 3 for additional details.
Raised as of Aug. 2025: $128.00M (through Series C-1)
Notable Investors: GV (Google Ventures), Sequoia Capital, Spark Capital, Salesforce Ventures, Acrew CapitalSYN Ventures, Picus Capital
Leadership: Led by founder & CEO Derek Lo (Modern Healthcare 40 under 40)
Press:
1. Modern Healthcare: Medallion’s Derek Lo: 40 Under 40 2025
2. Forbes: This Health Startup Aims To Cut Down a Burdensome Chunk of Doctors’ PaperworkInterview with Tom Findling, CEO of Conifers.ai
3. The Healthcare Technology Report: How Derek Lo Built Medallion — and Kept It Moving
The information above may not be accurate or complete and has not been independently verified. See footnote 12.
You can read more about Medallion here.
Altos Labs is leveraging machine learning and computation to develop epigenetic reprogramming tech, to reverse aging and prolong human life. Driving that mission is $3B from investors like Jeff Bezos and ARCH Venture Partners, as well as a leadership team featuring a Nobel Laureate and “storied leaders” from industry and academia.
* Indirectly owned; specifically, entitled to an economic interest in the underlying company through ownership of SPV interests. See footnote 3 for additional details.
Raised as of Feb. 2024: $5.56B (through Series C)
Notable Investors: Jeff Bezos, Yuri Milner, ARCH Venture Partners, General CatalystUSIT, XN, Founders Fund, Y Combinator
Leadership: Founded and led by Dr. Hal Barron (ex-GSK CSO & President of R&D; senior roles at Calico, Roche, Genentech).
Press:
1. Longevity.Technology: Altos Labs Launches AI and Computational Biology Institute
2. Interesting Engineering: Jeff Bezos-Backed Lab Hired Nobel Laureate Top Scientists to Beat Death
3. Labiotech: 13 Anti-Aging Startups on a Mission To Extend Lives
The information above may not be accurate or complete and has not been independently verified. See footnote 12.
You can read more about Altos Labs here.
Agility Robotics is a leader in commercial humanoid robotics thanks to “Digit,” one of the first humanlike robots capable of working in spaces designed for people. Digit is already moving orders for GXO, unloading machine washers for Schaeffler, and being tested by Amazon. Agility has raised over $641.25M to date from investors like DARPA and Amazon’s Industrial Innovation Fund. In March, The Information reported that Agility is raising a $400M round led by the venture arm of WP Global, with participation from SoftBank. The round would give Agility an estimated $2.1B post-money valuation.
Valuations referenced are from private placements and do not represent a public-market price. These securities are illiquid, and any future trading, if available, may occur at materially lower prices than these valuations. This information was reported by a third party and has not been publicly confirmed by the company involved or independently verified by StartEngine Primary, LLC. See footnote 12 for additional info.
* Indirectly owned; specifically, entitled to an economic interest in the underlying company through ownership of SPV interests. See footnote 3 for additional details.
Raised as of Jan. 2025: $641.25M (through Series C-3)
Notable Investors: Amazon Industrial Innovation Fund, Softbank Group, Playground Global, DCVC
Leadership: Co-founded by Damion Shelton (Ph.D., Carnegie Mellon) and Jonathan Hurst (Professor of Robotics, Oregon State; Ph.D., Carnegie Mellon).
Press:
1. Bloomberg: Humanoid Robot Development Seen as Vital to the Future of Manufacturing
2. The Verge: Amazon Is Reportedly Training Humanoid Robots To Deliver Packages
3. WIRED: 2025 Is the Year of the Humanoid Robot Factory Worker
The information above may not be accurate or complete and has not been independently verified. See footnote 12.
You can read more about Agility Robotics here.
Minimum Investment $14,987.28
When I do invest, what am I purchasing?
Any investment you do make will be for membership interests in the A.I. Frontier Fund (IRA) (Series 7-2 of StartEngine Private Funds LLC) which will own shares or fractional interests in Convertible Interest Rights Agreements of the underlying companies either directly or indirectly. You will not be investing in the underlying companies themselves.
How much of my investment will be allocated to each underlying company?
18% will be allocated to Groq**
20% will be allocated to Glean
8% will be allocated to d-Matrix
13% will be allocated to Saildrone**
17% will be allocated to RegScale**
6% will be allocated to Medallion**
6% will be allocated to Altos Labs
12% will be allocated to Agility Robotics**
The allocation percentages may slightly change based on how much capital will be raised for the fund. Some of the allocations might not have direct share ownership based on the transfer restrictions out of our control, however, the fund will be a direct beneficiary.
** Indirectly owned; specifically, entitled to an economic interest in the underlying company through ownership of Special Purpose Vehicle (“SPV”) interests. See Footnote 3 for additional details.
This list represents the fund's composition assuming it reaches its maximum investment amount. If the fund does not reach its maximum investment amount, the actual amounts will vary in proportion to their percentage makeup as depicted in the Terms section.
What’s a series limited liability company or series LLC, you ask?
StartEngine Private Funds is the primary or “parent” LLC that comprises one or more distinct series of interest for each underlying asset. The series either directly or indirectly invests in and holds shares of the underlying companies. Each series will be a separate series and not a separate legal entity. Under Delaware law, if certain conditions are met, the liability of investors holding one series of interests is segregated from the liability of investors holding another series of interests and the assets of one series of interests are not available to satisfy the liabilities of other series of interests. In the case of StartEngine Private each series will be created for the purpose of holding an equity interest in stated underlying companies.
How do you determine the share price?
The series of StartEngine Private Funds purchases the underlying securities from an affiliate. The affiliate previously sourced and negotiated the terms to purchase these underlying securities from third parties. The amount paid by the series of the StartEngine Private Funds is higher than the price the affiliate purchased the securities previously in the secondary market. We also note that while StartEngine Advisers LLC does not impose any continuing management fee expenses, there is a carried interest of 20 percent associated with the investment in our series, and therefore to the extent the securities appreciate in value there will not be a one-to-one economic parity between the share value of the StartEngine Private shares and the underlying companies’ shares. Please read the “Risk Factors,'' which is included as Exhibit B to the subscription agreement for further details.
What happens to my investment when an underlying company has a liquidity event?
In the event that an underlying company experiences a liquidity event, after the relevant holding period is over, the proceeds from the sale of the shares will be distributed to investors, minus any applicable fund operating expenses or carried interest. Holding period length varies from company to company.
TERMS
| Company | Type of Share | Up to Total $ | Affiliate Acquisition PPS | Fund PPS* | Up to Shares | Allocation of Funds |
|---|---|---|---|---|---|---|
| Groq, Inc.** | Special Purpose Vehicle ("SPV") interests with indirect economic interests in Series D-3 Preferred shares | $250,000.00 | $34.94 | $50.00 | 5,000 | 18% |
| Glean Technologies, Inc. | Common shares | $300,000.00 | $53.56 | $75.00 | 4,000 | 20% |
| d-Matrix Corp. | Series C Preferred shares | $125,000.00 | $13.55 | $25.00 | 5,000 | 8% |
| Saildrone Inc.** | Special Purpose Vehicle (“SPV”) interests with indirect economic interests in Series C-1 Preferred shares | $190,000.00 | $6.47 | $9.50 | 20,000 | 13% |
| RegScale, Inc.** | Special Purpose Vehicle (“SPV”) interests with indirect economic interests in Series B Preferred shares | $250,000.00 | $3.24 | $5.00 | 50,000 | 17% |
| FirstLayerAI, Inc. DBA “Medallion"** | Special Purpose Vehicle (“SPV”) interests with indirect economic interests in Series C Preferred shares | $93,750.00 | $0.49 | $0.75 | 125,000 | 6% |
| Altos Labs, Inc. | Class B Common shares | $87,500.00 | $22.88 | $35.00 | 2,500 | 6% |
| Agility Robotics, Inc.** | Special Purpose Vehicle (“SPV”) interests with indirect economic interests in Series C-3 Preferred shares | $183,750.00 | $72.77 | $105.00 | 1,750 | 12% |
This chart represents the fund's composition assuming it reaches its maximum investment amount. If the fund does not reach its maximum investment amount, the actual amounts will vary in proportion to their percentage makeup as depicted in the chart.
The value of the offered interests may not be directly equivalent to those of the existing shares of the underlying companies and may have differing material rights, including a carried interest fee of 20%. For securities where the underlying economic interests are through an SPV, there may be additional economic costs related to the ownership through this structure. This offering is not eligible for any bonus shares. Any reference to bonus shares or similar terms should not be interpreted as an offer or entitled to bonus shares.
The allocation percentages may slightly change based on how much capital will be raised for the fund. Some of the allocations might not have direct share ownership based on the transfer restrictions out of our control, however, the fund will be a direct beneficiary.
*The amount paid by the A.I. Frontier Fund (IRA) for the portfolio company securities is higher than the price StartEngine Crowdfunding Inc. previously paid for the securities in the secondary market.
** See Footnote 3 for additional details.
DISCLAIMERS
1. The underlying companies are not participating or involved in this offering and the availability of company information does not indicate endorsement, support, or involvement with StartEngine Private LLC or its affiliates. StartEngine Private LLC purchases shares from current and former employees, early investors, and advisors of the companies. When investing in a company on StartEngine Private, you are purchasing an interest in a series of StartEngine Private Funds LLC, a Delaware limited liability company (the “Series LLC”), which was created to hold shares of privately held companies. An investor will not directly own or hold shares of the underlying companies but instead will own member interests in a series of the Series LLC, which may directly or indirectly hold shares in the companies. There may not be a one-to-one economic parity on the value of the Series LLC interests and the underlying shares.
This is a Regulation D, Rule 506(c) offering, available only to accredited investors. It is speculative and illiquid, and investors should be prepared to hold the securities indefinitely and may lose their entire investment.
StartEngine Advisers LLC manages the Series LLC and reports as an exempt reporting advisor (“ERA”) to the Securities and Exchange Commission, an advisor not required to register as a registered investment advisor.
The underlying securities of A.I. Frontier Fund (IRA) are subject to restrictions on transferability and resale. As such, the underlying companies have the first right to purchase the securities should A.I. Frontier Fund (IRA) wish to sell or transfer them. These restrictions may limit A.I. Frontier Fund (IRA)’s ability to dispose of the securities.
Expenses, including transaction, brokerage, administration, insurance, extraordinary, and disposal costs, will be the responsibility of A.I. Frontier Fund (IRA). These expenses may reduce the amount you receive from a liquidation or distribution event. Additionally, StartEngine Primary LLC representatives may receive commissions in connection with this offering, including for recommending investments to accredited investors.
Neither StartEngine nor its affiliates provide investment, legal, or tax advice. Investors should carefully review all offering documents, including the subscription agreement and risk disclosures, and consult their own financial, legal, and tax advisors before investing.
Individual Retirement Account Disclosures
This investment is available exclusively through a self-directed Individual Retirement Account ("IRA"). Eligible investors must have or must open and fund a self-directed IRA in order to participate. Investors interested in opening a self-directed IRA may do so with Equity Trust, which may be done through StartEngine, or with another independent custodian.
Please note that StartEngine Primary LLC is not the custodian of your IRA and does not provide tax, legal, or accounting advice regarding IRA accounts. The custodian is solely responsible for establishing and administering your IRA in compliance with IRS rules, including contribution limits, reporting, and required minimum distributions.
Investors should consult their tax or legal advisor to determine whether this investment is appropriate for their retirement account.
*Equity Trust Company is the custodian of StartEngine IRAs. StartEngine Crowdfunding, Inc. will cover all of Equity Trust Company’s IRA fees for the year when you invest over $20,000 per year through your self-directed StartEngine IRA. If your annual investments through your StartEngine IRA are less than $20,000, you will be responsible for all applicable fees during that year (see StartEngine IRA Fees for details).
2. Unless otherwise indicated, the information on this webpage and our marketing materials for A.I. Frontier Fund (IRA) is sourced from Pitch Book and Forge Intelligence as of September 25, 2025, which maintain records of funding rounds and valuations. Because company information is sourced from publicly available information, we do not guarantee their accuracy or completeness of this information, which may be subject to errors, omissions, or changes over time, and it has not been independently verified by us or any of our affiliates. This information should not be considered financial or investment advice.
3. StartEngine Private Funds LLC (the “Series LLC”) holds economic interests of Groq, Saildrone, RegScale, Medallion, and Agility Robotics through indirect ownership via Special Purpose Vehicle (SPV) interests. There may not be a one-to-one economic parity on the value of the Series LLC interests and the underlying shares.
4. Groq Sources: Julie Bort, “NVIDIA AI Chip Challenger Groq Raises Even More Than Expected, Hits $6.9B Valuation,” TechCrunch, September 17, 2025; Karl Freund, “Can Groq Really Take On Nvidia?,” Forbes, Updated August 21, 2024; Groq, “About Us,” Webpage, Accessed August 12, 2025; Sharon Goldman, “AI Chip Race: Groq CEO Takes On Nvidia, Claims Most Startups Will Use Speedy LPUs by End of 2024,” VentureBeat, February 23, 2024; Groq, “Groq and HUMAIN Launch OpenAI's New Open Models Day Zero,” PR Newswire, August 5, 2025
5. Glean Sources: Max Ufberg, “The AI Company Creating a Customized ChatGPT for Your Business,” Fast Company, September 19, 2025; Mary Ann Azevedo, “AI-Powered Work Assistant Glean Lands $150M at $7.2B Valuation – 9 Months After Last Raise,” Crunchbase News, June 10, 2025; Sharon Goldman, “Exclusive: AI Startup Glean Aiming to Build the ‘Google for Work,’ Raises $260M at $4.6B Valuation,” Fortune, September 10, 2024; Reuters Staff, “OpenAI Asks Investors to Avoid Five AI Startups,” Inc., OCtober 3, 2024
6. d-Matrix Sources: Keumars Afifi-Sabet, “Microsoft-Backed AI Startup Beats Nvidia H100 on Key Tests With GPU-Like Card Equipped With 256GB Ram,” TechRadar, September 7, 2023; Chris Metinko, “Generative AI Compute Platform D-Matrix Raises $110M Series B,” Crunchbase News, September 6, 2023; d-Matrix, “d-Matrix Unveils Corsair, the World’s Most Efficient AI Computing Platform for Inference in Datacenters,” Business Wire, November 19, 2024; Grand View Research, “Artificial Intelligence Chipset Market Size, Share & Trends Analysis Report, 2024 - 2030,” Accessed August 5, 2025
7. Saildrone Sources: Saildrone, “About Us,” Accessed July 18, 2025; Saildrone, “Saildrone and Palantir Announce Strategic Partnership to Advance AI-Powered Maritime Intelligence,” Press Release, March 13, 2025; Staff, “Saildrone Brings In $60M To Expand European Maritime Presence,” The Robot Report, May 19, 2025; Saildrone, “Saildrone Closes $60M Financing to Bring Maritime Autonomy to Europe,” Press Release, May 13, 2025
8. RegScale Sources: Vanta, “Everything You Should Know About Continuous Controls Monitoring (CCM),” Cloud Security Alliance, August 21, 2024; RegScale, “RegScale Triples ARR, Achieves FedRAMP High, and Accelerates Federal and Commercial Adoption,” PR Newswire, July 22, 2025; RegScale, “RegScale Wins 2024 CyberSecurity Breakthrough Award for Compliance Software Solution Provider of the Year and NVTC Cyber50 Award,” PR Newswire, October 11, 2024; Esty Peskowitz, “RegScale Has Been Selected to Join the Microsoft for Startups Pegasus Program,” RegScale Blog, March 13, 2024; RegScale, “RegScale Achieves FedRAMP High Authorization with U.S. Department of Homeland Security as Agency Sponsor,” PR Newswire, June 26, 2025; Michaela Althouse, “Just 8 Months After Its Founding, Compliance Tech Startup RegScale Raised a $20M Series A,” Technically Media, August 2, 2022; Amit Chowdhry, “RegScale: Over $30 Million Secured For Transforming Cyber GRC For Highly Regulated Industries,” Pulse 2.0, September 22, 2025
9. Medallion Sources: Anthony Vecchione, “Medallion Raises $43M, Launches Credentialing Clearinghouse,” MobiHealthNews, August 18, 2025; Medallion, “Medallion Raises $43 Million to Expand AI Infrastructure and Launch the First National Credentialing Clearinghouse,” PR Newswire, August 18, 2025; Amy Feldman, “Next Billion-Dollar Startups 2023,” Forbes, Updated August 22, 2023
10. Altos Labs Sources: Altos Labs, “About,” Webpage, Accessed August 8, 2025; Irina Ivanova, “Jeff Bezos Reportedly Invests in Altos Labs, the Latest Startup Trying to Extend Human Life,” CBS MoneyWatch, September 7, 2021; Nick Paul Taylor, “Altos Bursts out of Stealth With $3B, a Dream Team C-Suite and a Wildly Ambitious Plan To Reverse Disease,” Fierce Biotech, January 19, 2022
11. Agility Robotics Sources: Marcus Law, “How Agility Robotics is Expanding Digit's Capabilities,” Technology Magazine, April 2, 2025; Kyra Buckley, “Oregon Facility Builds and Tests Humanlike Robot ‘Digit’,” Oregon Public Broadcasting, May 9, 2025; Forge Global, “Agility Robotics IPO,” Webpage, Accessed August 18, 2025; Kurt Schlosser, “Agility Robotics Reportedly Raising $400M for Humanoid Warehouse Robots,” GeekWire, April 1, 2025; David Greenfield, “Agility Robotics' Digit Shows Promise in Line-Side Operations with New ISO Safety Standard on the Horizon,” AutomationWorld, July 30, 2025
12. The links provided are for informational purposes only. Their presence does not imply endorsement, and the accuracy or completeness of the information presented cannot be guaranteed.
THIS WEBPAGE MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE UNDERLYING COMPANIES WHOSE SECURITIES MAKE UP THIS FUND, THEIR BUSINESS PLAN AND STRATEGY, AND THEIR INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE FUND’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT THIRD PARTY VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.