Under the radar, non competitive process

Un-shopped deals, typically "first call" from proprietary deal sources typically existing investors, larger traditional investor seeking reciprocity and/or bankers where "story" is too complex to repackage

Reduce risk

Triage opportunities by investing labor, intelligence and experience pre and post investment

Relationship based approach

Win deal based on expertise and potential for value-add rather than paying the highest price

Invest at a discount

Uncover and cultivate non-apparent opportunities that offer asymmetrical deal economics

Seek principal liquidity & protection

Structure investment to incorporate liquidity provisions and/or protection for investors if business under-performs

Arbitrage value via deal structure

Capturing sufficient intrinsic value at the time of the investment, not betting on factors which cannot be assessed, monitored, nor managed

Taking known, manageable risks

Seek to avoid market or tech driven risk, rather focus on execution risk

Returns not correlated to public markets

Arbitrage micro-economic inefficiencies for profit and minimize correlation to macro cycles

Event investing

Hands-on stewardship to known, value creating events