Structure; History and Ownership Avenir Management Company, LLC, a Delaware limited liability company and a registered investment adviser (the “Adviser”), together with its affiliates (where the context permits, including the general partners of the Funds (each a “General Partner” and, collectively, together with any future affiliated general partner entities, the “General Partners” and together with the Adviser and its affiliated entities, “Avenir”), provide investment advisory services to investment vehicles, special purpose and acquisition vehicles, investment vehicles that generally co-invest with such entities (“Co-Investment Funds”) and any future investment vehicles that Avenir may organize, including any successor fund or other future funds to which Avenir and/or its affiliates provide investment advisory services (each, a “Fund,” and collectively, the “Funds”), in each case, 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”). Avenir was founded in January 2017 by Andrew G. Sugrue and James M. Reynolds IV (the “Principals”) and currently has 16 employees. The Principals are the majority owners and the managing partners of Avenir. Types of Advisory Services Avenir provides investment advisory services to the Funds. The Funds primarily target equity investments in growth companies that meet Avenir’s investment criteria and the specific investment strategy of the applicable Fund. Avenir’s investment advisory services to the Funds consist of searching for and evaluating new investment opportunities; negotiating the terms of investments; monitoring existing portfolio companies; meeting with management teams, entrepreneurs and thought leaders; and achieving dispositions of investments. Although investments are made predominantly

in non-public companies, certain Funds may, from time to time, make investments in public companies. The Principals or other senior personnel of Avenir or its affiliates may, from time to time, serve on the boards of directors or otherwise act to influence control over the management of one or more portfolio companies in which the Funds have invested. Avenir’s advisory services to each Fund are detailed in the relevant limited partnership agreement or other analogous organizational documents of such Fund (collectively, the “Governing Documents”). Investors in the Funds are referred to in this brochure as “investors” or “limited partners.” Investors and prospective investors in each Fund should refer to the Governing Documents of the respective Fund for information on the investment objectives and investment restrictions with respect to such Fund. The Funds and the General Partners have entered into side letters or other similar agreements (“Side Letters”) with certain investors that have the effect of establishing rights under, or altering or supplementing certain terms of, the Governing Documents with respect to such investors, and such rights are not made available to investors generally. In addition, Avenir expects to invite other investment firms, strategic investors and others that are not affiliated with Avenir or the Funds to participate in investment transactions with the Funds (and Avenir and the Funds may be invited to participate in investment transactions being led by such other firms and investors). Please refer to each Fund’s Governing Documents and the “Conflicts of Interest” section herein for additional information. Avenir does not participate in wrap fee programs. Assets Under Management As of December 31, 2023, Avenir managed approximately $1.9 billion of client assets on a discretionary basis. Avenir does not manage any client assets on a non-discretionary basis.