Investor Risk Disclosure

Early-stage and growth companies fail at a high rate and you may lose your entire investment. Only commit capital you can afford to lose in full.

• Private equity has no public trading market, and secondary matching may find no counterparty for a long time.
• Transfers are usually restricted by lock-up periods, rights of first refusal and the company's constitutional documents.
• A discounted exit may price significantly below the most recent financing round valuation.

Private companies disclose infrequently; valuations rely on assumptions and limited data and may diverge from actual value. You may receive less information than investors in public markets.

Rules from the US SEC and the Canadian CSA on securities offerings, tokenized assets and cross-border transactions may change, affecting the feasibility, cost or timing of a transaction.

• Smart contracts may contain vulnerabilities, and blockchain networks may become congested, fork or halt.
• Loss or theft of private keys may make on-chain interests unrecoverable.
• Third-party custody, stablecoins and cross-chain bridges each introduce additional counterparty risk.

Subsequent financing rounds, option-pool expansion and liquidation preferences may dilute your holding or lower your position in the recovery waterfall.

The risks above are not exhaustive. Consider your own financial situation, investment experience and risk tolerance, and decide with the help of independent advisers.