Fuel’s alpha begins
at entry, not at exit.

You hold interests in a CapU access series, which holds a limited partner (LP) interest in the underlying Fuel fund. The underlying Fuel fund invests through EquityBee-managed financing series that enter contracts with employees to finance stock option exercises. Your access-series interest provides exposure to those contracts, rather than direct ownership of any individual company’s shares.

A direct secondary purchase buys existing company shares at an agreed price. Cap-U Fuel Innovation 100 instead finances employee option exercises under contracts that set repayment rights and participation in available share proceeds. You hold an interest in a CapU access series. An entry-price discount is a comparison with a stated benchmark, not an immediate gain or a guarantee of returns.

Interests are offered only to accredited investors under Rule 506(c), subject to verification of accredited investor status and the requirements in the offering documents. The QP series is for accredited investors who are qualified purchasers; the QC series is for accredited investors who are qualified clients. The minimum investment is $200,000, subject to the offering documents. View investment structure.

Employee financing contracts provide for repayment of capital, accrued interest and a negotiated participation in equity proceeds. The terms vary by transaction. Returns depend on sufficient proceeds from underlying liquidity events and are subject to fund fees and expenses.

The underlying Fuel fund term is five years, with an option for two additional one-year extensions, subject to the definitive offering documents. Distributions depend on underlying liquidity events, available proceeds and the applicable underlying fund and access-series terms. They may occur later or not at all. The underlying Fuel fund term does not guarantee a distribution date or a right to redeem your investment.

The target portfolio is 40–50 companies drawn from an approximately 100-company underwriting universe. Proposed terms include an 18-month investment period, with 60% targeted for initial deployment in the first 12 months and 40% reserved to build selected positions. These targets may change or go unmet. The 10% per-company cap applies to capital deployed at cost, not a typical position size. Definitive offering documents govern.

Approximately 2% management fee and 20% carried interest at the underlying Fuel fund level; no additional management fee or carried interest at the CapU access-series level. Investors bear series operating and organizational expenses plus their share of underlying fund fees and expenses, as described in the offering documents. This is a summary only; definitive offering documents control. Review those documents for the calculation basis and timing of management fees, carried interest and expenses before making an investment decision. Terms may change.

Private investments are illiquid and can lose some or all of their value. Risks include company performance, valuation changes, employee and contractual risks, and the absence of a liquidity event. Repayment generally depends on proceeds from the financed shares, subject to contractual exceptions. This does not protect fund investors from loss. Diversification does not eliminate risk.