Overview
Contrary is a venture capital firm that was founded in September 2020 and provides
investment advisory services to various investment funds sponsored or organized by
Contrary (the “Funds”). The principal owner of Contrary is Eric Tarczynski (the
“Principal”). A related person of Contrary generally acts as the general partner of (or in
another equivalent management position for) each Fund (the “General Partners” and each,
a “General Partner”). References to Contrary in this Brochure include, as the context
requires, affiliates through which Contrary provides investment advisory services or that
act in any capacity referenced in the previous sentence. References to “person” in this
Brochure include, as the context permits, natural persons and entities.
Contrary focuses primarily on equity investments in venture and growth-stage technology
companies. Fund investments typically take the form of venture capital or growth capital
transactions in private companies, or as structured transactions in small capitalization
public companies. Although the primary focus of each Fund is on venture capital and
growth equity investments in companies based in the U.S., Contrary may from time to time
recommend other types of investments (such as publicly traded equity, selective early-stage
investments in privately-held companies or investments in companies outside of the U.S.)
to the extent consistent with the respective Fund’s investment strategy and objectives and
its Governing Documents (as defined below).
Contrary’s advisory services consist of: (i) investigating, identifying and evaluating
investment opportunities; (ii) structuring, negotiating and making investments on behalf of
the Funds; (iii) managing and monitoring the performance of such investments; and
(iv) exiting
such investments on behalf of the Funds. Contrary’s advisory services to each
Fund are subject to the specific investment objectives and restrictions applicable to such
Fund, as set forth in each Fund’s limited partnership agreement, confidential private
placement memorandum and other governing documents (collectively, the “Governing
Documents”). Investors (each a “Limited Partner” and collectively, “Limited Partners”)
and prospective investors in each Fund should refer to the Governing Documents of that
Fund for information on the investment objectives and investment restrictions with respect
to that Fund. There can be no assurance that any of the Funds’ investment objectives will
be achieved.
In accordance with common industry practice, one or more of the Funds or their general
partners may enter into “side letters” or similar agreements with certain investors pursuant
to which the Fund or its general partner grants the investor specific rights, benefits, or
privileges that are not made available to investors generally.
Contrary expects to invite other investment firms, strategic investors, and others that are
not affiliated with Contrary or the Funds to participate in transactions with the Funds.
Contrary may form co-investment vehicles or other entities to co-invest with certain Funds
in one or more investments. Refer to the Governing Documents for additional information.
Contrary does not participate in any wrap fee programs.
Contrary manages assets of the Funds on a discretionary basis in accordance with the terms
and conditions of each Fund’s Governing Documents. Contrary does not manage client
assets on a non-discretionary basis. As of December 31, 2023, Contrary had on a
discretionary basis $198,640,000 of regulatory assets under management.