For purposes of this Brochure, the “Adviser” means HCIM, a Delaware limited liability company,
together (where the context permits) with its affiliated general partners of the Funds (as defined
below). The Adviser provides investment supervisory services to investment vehicles (each, a
“Fund,” and together, the “Funds”), including parallel funds and special purpose vehicles (each, an
“SPV”) that are exempt from registration under the Investment Company Act of 1940, as amended,
and the rules and regulations promulgated thereunder (the “Advisers Act”), and whose securities
are not registered under the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder (the “Securities Act”).
The Adviser provides discretionary investment management services through affiliated general
partners of the Funds (each, a “General Partner,” and collectively, the “General Partners”) in
accordance with a limited partnership agreement (“LPA”) or analogous document. Each General
Partner is subject to the Advisers Act pursuant to the Adviser’s registration in accordance with SEC
guidance.
The Funds invest primarily in early venture and growth venture companies (generally referred to
herein as “portfolio companies”) through negotiated transactions. The investment advisory and
management services provided to the Funds by the Adviser generally consist of identifying and
evaluating potential investment opportunities, negotiating the terms of investments, managing and
monitoring the performance of such investments, and disposing of such investments.
Services to the Funds are provided by the Adviser pursuant
to the terms of the applicable term
sheets, LPAs, investment management agreements, or other operating agreements or governing
documents (collectively, “Governing Documents”). The Adviser does not provide advisory
services to its Funds’ underlying investors (“Limited Partners”).
Certain Funds or their respective General Partners have entered into side letters or other similar
agreements (“Side Letters”) with certain Limited Partners that have the effect of establishing rights
(including economic or other terms) under, or altering or supplementing the terms of, the relevant
Governing Documents with respect to such Limited Partners.
The Adviser, in its sole discretion, may provide co-investment opportunities to some (but not
necessarily all) Limited Partners and/or third-parties. In circumstances where an entire investment
could be made by a Fund, the Adviser is permitted to allocate a portion of such investment to one
or more co-investment vehicles at the Adviser’s sole discretion. The allocation of any
co-investment opportunity to a Limited Partner may or may not be in proportion to any such Fund
commitments of such Limited Partner and may involve different terms, fee structures, and
economics.
HCIM was formed in 2017 and became a registered investment adviser with the U.S. Securities and
Exchange Commission in 2020. Armaan Ali and Ali Baris Akis are the Adviser’s principal owners.
As of December 31, 2023, HCIM manages approximately $2,141,921,492 on a discretionary basis.
Persons reviewing this Brochure should not construe it as an offering of interests in any of the
Funds described herein.