Iron Path is a Delaware limited partnership that was formed in March 2021. The Firm’s owners are Robert Reistetter and Scott Mraz (the “Principals”), who maintain their interest in Iron Path indirectly through Iron Path Capital, LLC. The Firm provides investment advisory services to pooled investment vehicles (each a “Fund,” and collectively, the “Funds”). The Funds generally seek to rely on an exemption from registration under the Investment Company Act of 1940, as amended (the “Investment Company Act”) and their securities will not be registered under the Securities Act of 1933, as amended (the “Securities Act”). Iron Path provides discretionary investment management services to the Funds in accordance with the applicable limited partnership agreement (or analogous organizational document), management agreement, subscription agreement, and side letters of each Fund (each, an “Advisory Agreement”). The Advisory Agreements of a Fund, along with any private placement memoranda and related materials are referred to herein collectively as the “Offering Documents” of such Fund. The Firm’s primary investment objective for each Fund is set forth in such Fund’s Offering Documents. In accordance with a Fund’s individual investment objectives, investments will primarily be made in privately-held companies located in the United States as well as elsewhere (each such company is referred to herein as a “Portfolio Company,” and collectively, the “Portfolio Companies”). A Fund may have a specific target Portfolio Company contemplated within such Fund’s Offering Documents, while another Fund may make investments in Portfolio Companies yet-to-be identified by the Firm as part of such other Fund’s investment program. Generally, with respect to each Fund in the latter category, the Firm will seek to generate long- term capital gains, primarily by locating, investing in, managing, and disposing of investments in specialty industrials

and healthcare Portfolio Companies within the lower middle market sector through privately-negotiated transactions generally involving equity and/or debt securities with equity-like features. Iron Path is affiliated with other entities that serve as general partner (each a “General Partner,” and collectively, the “General Partners”) to each Fund. The General Partners have generally delegated day-to-day management responsibilities for the Funds to Iron Path, but retain discretion over certain policy-making and oversight functions with respect to the investment program of the Fund and the decision whether to acquire or dispose of investments. The advisory services of Iron Path and of the General Partners are described in this Brochure and in the Advisory Agreements applicable to a Fund, but generally consist of one or more of the following activities: 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. The information set forth herein regarding the investment advisory services provided by Iron Path shall also apply in respect of the General Partners unless specifically noted. Iron Path provides investment advice directly to each Fund, subject to the discretion and control of the applicable General Partner, and not individually to the investors in the Funds. Such investors accept the terms of advisory services as set forth in the Funds’ Advisory Agreements. The Firm has broad investment authority with respect to the Funds and, as such, investors should consider whether the investment objectives of the Funds are in line with their individual objectives and risk tolerance prior to investing. As of December 31, 2023, Iron Path manages $357,210,630 in regulatory assets on a discretionary basis. The Firm does not manage any assets on a non-discretionary basis.