First-time manager
No prior fund track record. Attribution for past investing is personal and should be diligenced as such.
Disclosures
Status, risks and the legal position.
This site describes a firm being built. Here is what exists today, and what does not.
Status
What is real today.
| Item | Status |
|---|---|
| The firm | In formation |
| Fund I | Proposed — not closed |
| Capital committed to Fund I | None represented |
| Investments made | Since 2016, ahead of Fund I |
| Cheque sizes and ownership targets | Targets, not commitments |
| Founding team | Named on the about page |
| Adviser and limited-partner bench | Being built |
| Regulatory registration | Under review |
Risk register
Risks a limited partner should weigh.
These are the risks we would raise ourselves in a first meeting.
Emerging market
Currency depreciation, capital controls and repatriation friction can each affect returns independently of company performance.
Illiquidity
Long-dated positions, thin secondary market. Ten years is a realistic horizon, not a conservative one.
Follow-on dependency
Returns depend partly on international investors funding later rounds. That behaviour is outside our control.
Concentration
A small portfolio means a few outcomes decide the result. Loss of capital is realistic for most positions.
Political and operational
Policy change, connectivity disruption and security conditions are live operating risks for companies based here.
Legal notice
The formal position.
Published by 10xC for general information only. Nothing here is an offer to sell, or a solicitation of an offer to buy, any security or interest in any fund. Any such offer would be made only through formal offering documents, to eligible investors in permitted jurisdictions, and those documents would supersede this site.
None of it is investment, legal, tax or accounting advice, and none of it should drive an investment decision. Fund size, cheque size, ownership, portfolio construction, partners and market conditions are targets or estimates at the date of publication. They are forward-looking, rest on assumptions that may prove incorrect, and may change without notice.
Past performance, where referenced, is personal and does not predict future results. Venture investing carries substantial risk, including total loss of capital.
Questions about anything on this page can be sent to hello@10xc.pk.