Intelligence
Frontier AI labs
Orbital
Launch & space infrastructure
Embodiment
Humanoid robotics
Intelligence, orbital, robotics, energy, bio. Every sector where capital moves ahead of price discovery, underwritten by operators who know the terrain.
Technical, operational, financial diligence built for pre-IPO balance sheets. First-principles analysis, not pattern-matching to the last cycle.
Senior secured, structured subordinate, warrant-linked. Terms negotiated to the position, not pulled from a rate card.
Direct to the cap table. Relationships that pre-date the round, not warmed leads from a banker deck.
Ownership lives with a single underwriter from intake to maturity. No committee erosion, no soft handoffs.
Frontier technology only. Deep enough to know what's real; narrow enough to say no to everything that isn't.
Anchor claim on operating collateral. Underwritten to recover from the balance sheet, not the narrative.
Tailored subordination, with coupon and warrant coverage calibrated to the company's next 18 months.
Revenue-linked, milestone-linked, receivable-linked. Terms that track the business, not a template.
Tripwires negotiated upfront, monitored in real time. A credit agreement is only as good as the data behind it.
Equity alignment where it belongs — structured into the instrument, not bolted on after close.
Every position underwritten with an exit path. Clean prepay terms, clear handoff to the next pool of capital.
Deal-by-deal access for qualified individuals and institutional investors. Priority for members who show up for the long arc.
No layered fees, no repackaging spread. Co-invest at the price the underwriter set, with the covenants the underwriter negotiated.
The memo, the cap table, the monitoring data. Everything the underwriter saw, shared with the people putting capital behind it.
Weekly telemetry, direct from the company's ledger.
Customer-level breakouts; sector-specific adjustments.
Silicon, inventory, receivables — verified on schedule.
Every tripwire wired into the monitoring stack.
Third-party verification on every asset-backed position.
Pre-negotiated playbooks for every stress scenario.
Workouts, restructurings, and recoveries handled by the same underwriter who wrote the position — not a third-party servicer.
Every position priced against the full stack above and below. No hidden subordination, no surprise pari passu.
Quarterly marks grounded in operating data, not trade-desk quotes on illiquid positions.
The paper is cold steel. Twenty-one grams of mirror-finished metal engraved with the company, the tranche, and the coupon. A credit agreement you can hold. One position per card — the instrument and the holder, bound.
Request the InstrumentCNC-milled steel, polished to a first-surface mirror. Twenty-one grams in the hand. The reflective face is the sample surface — what you see on screen is the card.
Company, tranche, maturity, coupon. Everything that matters, nothing that doesn't — laser-etched into the steel at issue.
Every instrument carries a unique serial, reconciled to the desk's master register and the underlying credit agreement. Counterfeit-resistant by design.
Each card corresponds to a single underwritten position. Hold the steel, hold the paper.
Presented at settlement. A physical record that the position exists, in your name, on the desk's book.
The instrument card is in development. Positions held today are registered digitally and delivered physically as the program activates.
Positions, collateral, coupon accrual, monitoring data, documents. The desk is where members see exactly what the underwriter sees — same memos, same telemetry, same marks. A private client portal with no translation layer.
Request AccessCoupons and equity participation calibrated to each position. No rate cards, no averaged-out products. Every instrument yields what the credit earns — delivered to the member who held it.
First-lien coupon on operating collateral. Anchor of the stack — the position built to recover first when markets turn.
Higher coupon with warrant coverage. Priced to the second-lien tranche, with upside tied to the company's next round.
Warrant coverage and convertible structures. Credit return with equity participation in the companies you lend against.
Techdollar members co-invest alongside the desk at the companies defining the next cycle. Invite-only. Qualified individuals and institutional investors.