A. General Description of the Advisory Firm SAX Capital LLC (“SAX Capital” or the “Adviser”) is an investment adviser organized as a Delaware limited liability company that was formed in December 2016. SAX Capital is headquartered in Washington, DC. Steven Greenberg is the Chief Executive Officer of SAX Capital and has sole voting and decision-making authority with respect to the management of SAX Capital’s investment advisory business. AngelList Holdings, LLC is the principal owner of SAX Capital LLC through AL Venture, LLC, a subsidiary entity. AngelList Holdings, LLC and AL Venture, LLC have economic ownership of SAX Capital, but do not have voting rights or decision-making authority. B. Description of the Advisory Services SAX Capital is the investment adviser to pooled investment vehicles (the “Funds”). The Funds include special purpose vehicles that invest in the assets of a single portfolio company or issuer (“SPVs”) and private funds that invest in more than one portfolio company (“Multi-Investment Funds”). SAX Capital is also the investment adviser to the Access Fund, a fund program that invests in a broad range of venture investments including rolling funds, venture funds, and special purpose vehicles. An affiliate of SAX Capital generally serves as the general partner or similar managing entity of each of the Funds (each, a “General Partner”). SAX Capital has broad investment authority with respect to the Funds within the guidelines of each Fund’s stated investment mandate, and its investment advisory services include identifying and evaluating investment opportunities, usually in partnership with a sub-adviser. The Funds generally seek to hold investments in privately-owned technology companies for long-term appreciation until a liquidity event such as a merger, acquisition, or initial public offering. In general, the

Funds hold assets as passive investments and typically without debt, borrowings, or leverage, unless stated otherwise in the governing documents. Fund investments include direct equity investments (typically minority positions acquired through private secondary market transactions), indirect equity investments through another investment vehicle, and direct or indirect purchases of cryptographic tokens or other digital assets. Each Fund is governed by an operating agreement that sets forth the specific investment guidelines and investment restrictions. For the SPVs, such guidelines are typically set forth in a series-specific appendix to the operating agreement. Investors in each Fund are provided with offering materials prior to their investment, which also contain information regarding the intended investment objective for the Fund. SAX Capital does not currently offer investment advisory services for separately managed accounts (“Managed Accounts”). Together, the Funds, along with any Managed Accounts comprise the advisory clients of SAX Capital (the “Clients”). C. Tailored Advisory Services SAX Capital provides investment advisory services to its Clients (the Funds and Managed Accounts) in accordance with those Clients’ stated investment objectives and limitations. The investment objectives and limitations for the Funds are outlined in the applicable offering memoranda and other governing documents, which include but are not limited to operating agreements, subscription agreements, side letters, investment management agreements or, operating agreement appendix (such memoranda and documents, “Governing Documents”). D. Wrap Fee Programs SAX Capital does not participate in wrap fee programs. E. Assets Under Management As of the date of this Brochure, SAX Capital managed approximately $802,592,037 in Client assets, all on a discretionary basis.