Overview
A. General Description of Advisory Firm
Fall Line Capital. LLC (“Fall Line”) is a Delaware limited liability company that was formed in 2011. Fall
Line’s principal place of business is in San Mateo, CA with an additional office in Rice Lake, WI. The firm's
principal shareholders are Eric O’Brien and Clay Mitchell.
B. Types of Advisory Services
Fall Line provides investment advisory services to certain private investment vehicles organized as
Delaware limited partnerships (each a “Fall Line Fund” or “Fund” and collectively the “Fall Line Funds”
or “Funds”). A related person of Fall Line generally acts as general partner of each Fall Line Fund.
References to Fall Line in this Brochure include, as the context requires, affiliates through which Fall
Line provides investment advisory services or that act in any capacity referenced in the previous
sentence. For purposes of this Brochure all references to “client” shall not include the underlying
investors in a Fall Line Fund (i.e., limited partners or members) (“Client Investors”), unless otherwise
specified.
Fall Line provides investment advice to the Fall Line Funds with respect to investments in farmland,
real estate with potential to be converted into farmland and investments in technology companies that
are tangential to and impactful on agricultural production.
C. Client Tailored Services and Client Imposed Restrictions
Fall
Line tailors its advisory services to the specific investment objectives and restrictions of each Fall
Line Fund set forth in such Fall Line Fund’s limited partnership agreement, confidential private placement
memorandum, investment management agreement and/or other governing documents (collectively, the
“Governing Documents”). Investors and prospective investors of each Fall Line Fund should refer to the
Governing Documents of the applicable Fall Line Fund for complete information on the investment
objectives and investment restrictions with respect to such Fall Line Fund. There is no assurance that
any of the Fall Line Funds’ investment objectives will be achieved.
In accordance with common industry practice, one or more of the Fall Line Funds or their general
partners may enter into “side letters” or similar agreements with certain investors pursuant to which the
general partner grants the investor specific rights, benefits, or privileges that are not made available to
investors generally. Such agreements will be disclosed only to those actual or potential investors in a
Fall Line Fund that have separately negotiated with the general partner of such Fall Line Fund for the
right to review such agreements.
D. Wrap-Fee Programs
Fall Line does not participate in any wrap fee programs.
E. Client Assets Under Management
As of December 31, 2023, Fall Line had $484,349,626 in assets under management on a discretionary
basis.