Culross Tech Lending Fund

Legal Entity

Culross Tech Lending Fund is a sub-fund of Culross Funds S.A., SICAV-RAIF, a société anonyme incorporated under the laws of the Grand Duchy of Luxembourg as a société d’investissement à capital variable – fonds d’investissement alternatif réservé. The Company is subject to the law of 23 July 2016 relating to reserved alternative investment funds, as amended or supplemented from time to time. Culross Funds S.A., SICAV-RAIF, the Company, is an Alternative Investment Fund within the meaning of the AIFM Law and 2013 Law.

Strategy

CTLF is a unique Luxembourg domiciled private credit investment fund making loans in the US to late stage VC backed private businesses in the innovation economy. Through a unique relationship CTLF has gained access to the specialist loan origination flow at the world's most successful venture debt lender, Silicon Valley Bank. Under the guidance of its appointed manager it can independently select and manage its portfolio of loans and warrants.

Objectives

CTLF holds a portfolio of 15-17 loans to mid and large VC backed tech companies. All loans are floating rate typically with monthly interest payments and coupon rates of 10% plus arrangement and re-payment fees. The loans are collateralised by the borrower’s IP and come with nil-cost 10 year warrants convertible into the equity of the borrower which adds significant equity upside. The target investment return is 13-15% p.a. net over the life of the programme.

Culross Tech Lending Fund

Type RAIF
Legal entity Culross Funds S.A.
Legal entity type SICAV-RAIF
Domicile Luxembourg
Fund type Closed End
Target return 13-15%
Average loan term < 2 Years
Investment period 5 years
Fund term 8 years
Launch date 2Q 2022
Distribution or Accumulation classes

Documents

For documents, please contact .