Overview
Social Leverage Advisors, LLC is a Delaware limited liability company organized in August 2015
by its principal owners Thomas Peterson, Howard Lindzon, and Gary Benitt (collectively, the
“Managing Partners”).
P & L Advisors, LLC is a Delaware limited liability company organized in October 2012 by its
principal owners Thomas Peterson and Howard Lindzon that is a relying adviser of Social
Leverage Advisors, LLC. Collectively, Social Leverage Advisors, LLC and P & L Advisors, LLC
are referred to in this Brochure as “Social Leverage” or the “Adviser”.
The Adviser together with its affiliated general partners provide discretionary investment advisory
services to closed-end investment vehicles that are exempt from registration under the Investment
Company Act of 1940, as amended (the “1940 Act”) and whose securities are not registered under
the Securities Act of 1933, as amended (the “Securities Act”).
The Adviser utilizes a variety of investment strategies in the management of the investment
vehicles and, from time to time, launches additional strategies in response to the evolving needs
of its business and its investors. The investment vehicles are divided into two main categories: 1)
the venture capital funds that invest primarily in early-stage and later-stage privately held
companies and 2) the fund-of-funds that evaluates a broad range of investments and asset classes
to select assets manager to invest in their pooled investment vehicles. The fund-of-funds may also
invest in Social Leverage’s venture capital funds. Social Leverage offers investment advice solely
with respect to the investments made by the venture capital funds and the fund of funds, which are
collectively referred to herein as the “Funds”. Such services consist of investigating, identifying,
and evaluating investment opportunities, structuring, negotiating, and making investments on
behalf of the Funds, managing and monitoring the performance of such investments, and disposing
of such investments.
Investment advice is provided directly to the Funds, subject to the discretion and control of the
applicable Fund’s general partner (a “General Partner”), and not individually to the investors in a
Fund. Social Leverage’s advisory services to the Funds are tailored to the Funds in accordance
with the investment objectives, strategy and restrictions as set forth in the limited partnership
agreement of a Fund (each such agreement, a “Partnership Agreement”).
The Funds, Social Leverage or its affiliates may enter into side letters or other similar agreements
(“Side Letters”) with investors in the Funds that have the effect of establishing rights under, or
altering or supplementing the terms of, the relevant Partnership Agreement with respect to such
investors.
As of December 31, 2023, Social Leverage manages approximately $347,126,178 in regulatory
assets under management, on a discretionary basis. The Adviser does not manage assets on a non-
discretionary basis.