For purposes of this brochure, the “Adviser” means GCGM, together (where the context permits)
with those of its affiliates that serve as general partners (or the equivalent) of the Funds (as defined
below) and other affiliates that provide advisory services or receive advisory fees from the Funds.
Such affiliates may be (but are not necessarily) under common control with GCGM, but possess a
substantial identity of personnel and equity owners with GCGM. These affiliates may be formed
for tax, regulatory, or other purposes in connection with the organization of the Funds, or may
serve as general partners of the Funds. To the extent that a Fund is formed as a limited liability
company, references herein to “general partner” with respect to such Fund refer to the manager of
such limited liability company. Each general partner and manager is subject to the Investment
Advisers Act of 1940, as amended (the “Advisers Act”), pursuant to the Adviser’s registration in
accordance with SEC guidance. References to the Adviser include the general partner and
managers where the context so requires.
The Adviser provides investment advisory services to investment vehicles (“Funds”) 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 provides primarily investment advisory services to Funds that focus on creation
investments (“Creation”), early venture investments (“Ignition”) and growth venture investments
(“Endurance”), including through the Adviser’s executive-in-residence (“XIR”) program and
“Catalyst Advisor” program, each of which is described in Item 8. The Adviser primarily targets
investments in information technology companies and also proactively starts new companies
(generally referred to as “hatching”) in a broad variety of sectors with technology-driven themes,
such as: financial technology; commerce; enterprise software; civic technology; health insurance;
and a sector the Adviser refers to as “Health Assurance”, a broad category that includes solutions
at the intersection of healthcare and technology as well as innovations designed to help people stay
well, bend the cost curve, and make quality care more affordable and more accessible. While the
Adviser’s deeply thematic investing for the Funds generally falls into these sectors and other
information technology products and services categories, the Adviser also understands and
anticipates that commercially significant
new technology and other interesting developments will
originate in spaces other than information technology. Therefore, the Adviser may also actively
seek and pursue high-growth investments and other special opportunities in additional creative
areas.
The Adviser also provides investment advisory services to one or more Funds that focus on the
purchase of existing account receivables and future rights to prospective accounts receivables from
operating companies (“Customer Value”).
In accordance with the Funds’ respective investment objectives, investments are generally made
in privately held companies located in the United States; however, the Funds’ investments also
include non-U.S.-based privately held companies. The Adviser’s advisory services consist of:
investigating, identifying, and evaluating investment opportunities; structuring, negotiating, and
making investments on behalf of the Funds; maintaining, managing and monitoring the
performance of such investments; and disposing of such investments. The Adviser or its affiliates
may serve as the investment adviser or general partner to the Funds to provide such services.
The Adviser provides investment advisory services to each Fund in accordance with the limited
partnership agreement (or analogous organizational document) of such Fund, and to other advisory
clients in accordance with an investment management agreement or analogous document (each,
an “Advisory Agreement”).
Investment advice is provided directly to the Funds, subject to the discretion and control of the
applicable general partner, and not individually to the investors in the Funds (generally referred to
herein as “investors” or “limited partners”). Services are provided to the Funds in accordance with
the Advisory Agreements with the Funds or organizational documents of the applicable Fund.
Investment restrictions for the Funds, if any, are generally established in the limited partnership
agreement or other organizational and offering documents of the applicable Fund, Advisory
Agreements, and side letter agreements negotiated with investors in the applicable Fund (such
documents collectively, a Fund’s “Organizational Documents”).
GCGM is wholly owned by GC Management Partners, LP, which is owned, directly and indirectly,
through a variety of affiliated vehicles that are ultimately principally owned by Joel Cutler, David
Fialkow, Hemant Taneja, and Ken Chenault. The Adviser has been in business since 1999. As of
December 31, 2023, the Adviser manages a total of $27,317,948,305 of client assets, all of which
are managed on a discretionary basis.