A. Description of the Advisory Firm
JAHD Management Company, LLC a Delaware limited liability company, together with its
affiliated general partners of the Funds (herein referred to as “Elephant” or the “Firm”)
advise and/or receive advisory fees from private investment vehicles. The Firm was founded
in 2015 by Jeremiah Daly and Andrew Hunt, the Managing Members of the Firm.
B. Types of Advisory Services
Elephant provides discretionary investment advice to private investment vehicles (each a
“Fund” or a “Client”, and, collectively, the “Funds” or “Clients”). Elephant also manages
special purpose vehicles (collectively, the “SPVs”, and together with the Funds, the “clients”)
each of which are formed to invest or co-invest in a single portfolio company. In the future,
Elephant may form additional funds, including feeder and parallel funds, co-investment
vehicles, parallel funds, alternative investment vehicles (“AIVs”) and special purpose
vehicles. The Funds seek long-term capital appreciation, primarily through private
investments, in fast-growing, capital-efficient software, consumer internet and mobile
companies. Elephant may also make opportunistic investments, subject to the objectives and
restrictions of each Fund as set forth in the applicable Governing Documents (as defined
below). Elephant’s advisory services consist of sourcing, identifying and evaluating
investment opportunities, structing, negotiating and executing investments on behalf of the
funds, managing and monitoring performance of such investments and disposing of such
investments.
Generally, a person that is under common control with Elephant (a “Related Person”) will
act as the general partner of each Fund, and Elephant will serve as the investment adviser to
each Fund. References to “Elephant” in this Brochure include, as the context requires,
affiliates through which Elephant provides investment advisory services or that act in any
capacity referenced in the previous sentence. References to “General Partners” in this
Brochure include
the general partner entities of the applicable Funds.
This Brochure is not an offer to invest in a Fund. Any such offer would only be made through
the provision of a Limited Partnership Agreement (the “LPA”) and/or Investment
Management/Limited Partner Advisory Agreement (the “IMA”) and/or such other offering
materials as prepared by the Firm with respect to such Fund (collectively, the “Offering
Documents”). Information included in this Brochure is intended to provide a useful
summary about the Firm, but it is qualified in its entirety by information included in any
Offering Documents.
C. Client Tailored Services and Client Imposed Restrictions
Elephant will tailor its advisory services to the specific investment objectives and restrictions
of each Fund set forth in such Fund’s limited partnership agreement. Investors and
prospective investors of each client should refer to the confidential private placement
memorandum (if any), limited partnership agreement, subscription agreement and/or other
governing documents (collectively, the “Governing Documents”) of the applicable client for
complete information on the investment objectives and investment restrictions with respect
to such client. There is no assurance that any of the client’s investment objectives will be
achieved.
Consistent with industry practices, the Funds and/or the General Partner have entered into
side letter agreements or similar agreements (“Side Letters”) with certain investors pursuant
to which the General Partner grants the investor specific rights, benefits, or privileges
(including economic rights, benefits, and privileges) that, except as set forth in the Governing
Documents, are not required to be made available or disclosed to investors generally.
D. Wrap Fee Programs
Elephant does not participate in wrap fee programs.
E. Amounts Under Management
As of December 31, 2023, Elephant has approximately $2,936,759,223 of regulatory assets
under management (or “RAUM”, as defined for purposes of Form ADV) all managed on a
discretionary basis.