The Adviser Open Field Capital LLC was established in August, 2003. Open Field is wholly owned by Open Field Capital (Cayman) L.P., a Cayman Island exempted limited partnership, and indirectly owned by Marc Weiss, James Stableford, Robert Griffin and Michael Sandifer. Messrs. Weiss and Stableford are all of the Managers of the Board of Managers of Open Field and manage the day-to-day operations as well as the portfolio management. Messrs. Weiss, Stableford and Sandifer are all of the members of the Investment Committee and responsible for Open Field's investment decisions except with respect to non-publicly traded securities ("Private Equity"). Mr. Weiss is the portfolio manager and solely responsible for all investment decisions for the private equity funds: Emerging Technologies Fund III LLC / Emerging Technologies Fund III LP ("ETF III") Emerging Technologies Fund II LLC / Emerging Technologies Fund II LP ("ETF II"), as well as for all investment decisions for the private equity fund: OFPP LLC ("OFPP"). Mr. Weiss is expected to have sole portfolio management authority for any other Private Equity mandate client portfolios. All references in this document to Private Equity mandate clients pertain to all Private Equity mandate clients unless specifically stated otherwise.
Investment Services Open Field is an investment manager focused on identifying "Megatrend" investments in emerging growth or disruptive technology companies predominantly, although not exclusively, domiciled in the US. Open Field's specialization is investing in securities or sectors that are undergoing wholesale and rapid change as a result of technologically driven disruption. Open Field primarily focuses on leading edge technology companies but it does not limit itself to such companies since technological evolution is impacting an ever increasing number of market sectors and business processes as technology spending grows as a share of the global economy. Such investments are generally made in equity (for example, common stock and preferred stock) or equity related securities (for example, convertible notes, SAFEs, warrants and options).
The companies in which Open Field invests its clients' assets are primarily "emerging growth companies," that is, investments in private equity as well as securities of companies that have relatively recently been listed on a stock exchange or NASDAQ. However, Open Field may invest in more mature and higher market capitalization businesses if Open Field identifies an attractive investment opportunity that meets its primary criteria: namely a security or sector experiencing disruptive change as a result of technological evolution or, more typically, revolution.

Open Field's main focus is on long-term capital appreciation. Open Field's investment objective is to take advantage of the long-term secular growth of technology in the global economy by investing across a variety of markets in companies that we believe to be approaching the height of their growth rate. This distinct investment objective, together with Open Field's research and ability to invest in private equity as well as publicly traded securities, results in Open Field's managed portfolios and funds and investment processes being substantially different from those of a conventional technology fund manager.
Currently Open Field provides investment management services for clients in accordance with two mandates: long only Public Equity and Private Equity. Open Field also provides non- compensated investment management services for one Private Equity client. The long only Public Equity mandate does not invest in securities issued by private companies. Open Field's Private Equity mandate is generally available only to "qualified clients" as that term is defined from time to time in Rule 205-3 of the Investment Advisers Act of 1940 as amended ("Advisers Act"), except as regards OFPP, which private equity fund has no performance fees. 4 In making investment decisions for a client, Open Field does not consider the client's broader investment objectives, risk tolerance or overall financial condition, tax or liquidity needs. Investments in emerging growth companies involved in the technology industry can be volatile and are generally appropriate as a small part of a client's overall investment portfolio. Clients may place restrictions upon the types of investments or the amount or percentage of individual securities to be purchased, sold or held in such a client's account. These restrictions must be in writing.
Open Field offers separately managed discretionary accounts to institutional clients and high net worth individuals.
Open Field acts as the investment adviser of one non-compensated private equity fund. This private fund is only available for investing by friends, family and associates of Open Field.
Open Field also acts as the Investment Manager for ETF II and ETF III. Open Field expects that it will act as the Investment Manager for other private equity funds in the future.
Open Field acts as a Model Manager/Provider to an SEC registered investment advisor.
Open Field does not participate in or sponsor wrap-fee programs.
Assets under Management As of December 31, 2023, Open Field managed $135,429,000 in client assets for 12 clients on a discretionary basis and $0 in client assets on a non-discretionary basis.