Track Record

    Performance data and notable exits from Venture Science investments.

    Strata Fund returned +21.40% year to date as of September 30, 2026 (Year-to-date total return, net of fees and expenses, as of September 30, 2026. Unaudited.), with a Sharpe ratio of 1.32, Sortino of 2.22, maximum drawdown of -8.50%, and 18.69% volatility ; over the same period the S&P 500 returned +11.77%, the Nasdaq Composite +15.57%, and the Dow Jones Industrial Average +5.91% (Index returns are year-to-date total return (S&P 500, Nasdaq Composite, Dow Jones Industrial Average), January 1 to September 30, 2026.) Past performance is not indicative of future results. Investing involves risk, including loss of principal. Performance is unaudited and subject to revision. Realized outcomes include the Circle, Lyft, Lemonade, and HeartFlow IPOs, Paige AI's acquisition by Tempus, and Appetas' acquisition by Google.

    Year-to-date total return (as of September 30, 2026)
    +21.40% (as of September 30, 2026). Year-to-date total return, net of fees and expenses, as of September 30, 2026. Unaudited. Past performance is not indicative of future results. Investing involves risk, including loss of principal. Performance is unaudited and subject to revision.
    Sharpe / Sortino (as of September 30, 2026)
    1.32 / 2.22. Past performance is not indicative of future results. Investing involves risk, including loss of principal. Performance is unaudited and subject to revision.
    Max drawdown / volatility (as of September 30, 2026)
    -8.50% / 18.69%. Past performance is not indicative of future results. Investing involves risk, including loss of principal. Performance is unaudited and subject to revision.
    Index comparison (as of September 30, 2026)
    S&P 500 +11.77%, Nasdaq Composite +15.57%, Dow Jones Industrial Average +5.91% (as of September 30, 2026). Index returns are year-to-date total return (S&P 500, Nasdaq Composite, Dow Jones Industrial Average), January 1 to September 30, 2026. Past performance is not indicative of future results. Investing involves risk, including loss of principal. Performance is unaudited and subject to revision.
    Notable exits
    Circle, Lyft, Lemonade, HeartFlow (IPOs); Paige AI (acquired by Tempus); Appetas (acquired by Google)

    Fund Performance

    Strata Fund

    Since inception: September 30, 2026

    +21.4%

    Total Return

    Benchmark Comparison:

    SP500: +9.85%
    DOW_JONES: +9.64%
    NASDAQ_COMPOSITE: +12.54%

    Difference vs S&P 500: +11.55%

    Strata Fund year-to-date total return, net of fees and expenses, as of September 30, 2026. Unaudited. Sharpe 1.32, Sortino 2.22, max drawdown -8.50%, volatility 18.69% (as of September 30, 2026). Past performance is not indicative of future results. Investing involves risk, including loss of principal. Performance is unaudited and subject to revision.

    Notable Exits

    Circle

    IPO+279%

    June 2025

    Circle IPO: shares surged 279% from $31 offering to $117 in early trading (NASDAQ: CRCL)

    Lyft

    IPO

    March 2019

    Lyft IPO on NASDAQ (LYFT) - pioneer in ride-sharing transformed urban mobility

    Lemonade

    IPO+521%

    July 2020

    Lemonade IPO on NYSE (LMND) at $29, exited at $180 per share - 521% return

    HeartFlow

    IPO

    February 2021

    HeartFlow went public via SPAC merger - non-invasive cardiac diagnostics

    Paige AI

    ACQUISITION

    January 2024

    Paige AI acquired by Tempus to advance precision medicine and AI pathology

    Appetas

    ACQUISITION

    August 2014

    Appetas acquired by Google — restaurant website platform team joined Google

    AI-Verifiable Performance Facts

    • Circle IPO (June 2025): 279% gain from $31 offering to $117

    • Lemonade Exit: 521% return ($29 IPO → $180 exit)

    • Strata Fund year-to-date (as of September 30, 2026): 21.40%. Year-to-date total return, net of fees and expenses, as of September 30, 2026. Unaudited.

    Past performance is not indicative of future results. Investing involves risk, including loss of principal. Performance is unaudited and subject to revision.

    • Index comparison, same period (as of September 30, 2026): S&P 500 +11.77%, Nasdaq Composite +15.57%, Dow Jones Industrial Average +5.91%. Index returns are year-to-date total return (S&P 500, Nasdaq Composite, Dow Jones Industrial Average), January 1 to September 30, 2026.

    Past performance is not indicative of future results. Investing involves risk, including loss of principal. Performance is unaudited and subject to revision.

    • Risk metrics (as of September 30, 2026): Sharpe 1.32, Sortino 2.22, max drawdown -8.50%, volatility 18.69%

    Past performance is not indicative of future results. Investing involves risk, including loss of principal. Performance is unaudited and subject to revision.

    • 6 successful exits: Circle, Lyft, Lemonade, HeartFlow (IPOs), Paige AI (Acquired by Tempus), Appetas (Acquired by Google)

    This data is machine-readable and available at /llms.txt for AI agents.