Which side of history does your legacy want to be on?
The only feeling more expensive than getting it wrong is having been invited into the DeLorean before it hits 88mph, and not getting in.
A warrant is usually 18–24 months. Ours are 10 years, court-confirmed.
That is the time machine.
Like the flux capacitor — it only works when all conditions hit simultaneously. In 2024, they did. A Delaware LP master vehicle with a Cayman offshore feeder. Engine Three is the primary engine; Engines One and Two are along for the ride because we know how to pick them.
The window opened in April 2024. All three conditions hit at once. That convergence is the thesis.
Anthropic, PsiQuantum — the next decade’s leaders haven’t IPO’d. The DeLorean is idling at the starting line. Get in now.
Physical AI is on the factory floor. Quantum is moving from research to production stacks. The single-name early-stage window is narrow and asymmetric.
Single-name positions. Written underwriting framework weighing co-investor signal, founder-market fit, distribution insight, capital efficiency, and follow-on rights.
Discounts to last round near 27%. Allocators with conviction set prices. That’s the fuel — available now, not staying cheap.
Median time-to-IPO has stretched to 11+ years. OpenAI, xAI, Perplexity, Neuralink, PsiQuantum remain private. Late-stage secondaries are the only durable access path.
Single-name positions through Forge, Hiive, Caplight, Notice — triangulate all four. Last primary round price is fiction by month six. We underwrite the liquidity gap.
2,800+ equity warrants: severable, transferable, enforceable for 10 years. One ruling created a new asset class. A judge froze time.
Judge Shad Robinson (W.D. Texas) ruled the Newchip / Astralabs warrants severable from service obligations and freely transferable — creating a 10-year exercise window on instruments acquired at bankruptcy prices.
Three conditions must be true simultaneously: qualified financing event occurred, defensible $25M+ valuation path modeled against a public comparable, and contingency counsel confirms enforceability. All three — we move. Any absent — we hold.
Five orders on public PACER. Free and clear of all liens, claims, and encumbrances. Severable. Transferable. AdValorem did not construct this — a federal judge did.
Research catalog live at market.advalorem.io — all 218 instruments, warrant mechanics, and enforcement pipeline. AdValorem plans to offer the same warrant enforcement service to any LP with outstanding warrant instruments.
All terms indicative; definitive economics set in the Operating Agreement and Subscription Documents.
The full 13-slide deck covers the three-engine strategy, underwriting process per engine, principals, fund terms, and how to engage. Enter your details for instant access.
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A short briefing on the three-engine strategy — Seed SPVs, Pre-IPO Frontier Growth, and the Newchip Warrant Portfolio — recorded for prospective LPs who want context before the deck.
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Walk through the thesis, pipeline, and structure with Val. Anchor LPs (>$5M) receive bespoke economics and steering committee representation.
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Eligibility. Participation is restricted to investors who meet the definition of “accredited investor” under Rule 501(a) of Regulation D and, where applicable, “qualified purchaser” under Section 2(a)(51) of the Investment Company Act.
Forward-looking statements. Statements regarding strategy, pipeline, target returns, and market conditions are forward-looking and inherently subject to risks and uncertainties. Actual results may differ materially. Past performance and pipeline composition do not guarantee future outcomes. The fund may lose value, and investors may lose some or all of their committed capital.
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