4.1 Firm Description and Principal Owners
DeepWork Capital, LLC (“DeepWork”) is a Registered Investment Adviser, located in Orlando, FL, and
was formed as a Florida limited liability company on January 25, 2018, as the successor to FAN
Management Partners, a Florida limited liability company formed in April 2015.
DeepWork is principally owned by the following individuals (“Principals”):
Benjamin Patz, CDR # 7370006
Mitchel Laskey, CRD # 7370012
i-Ting Kathy Chiu, CRD # 7370014
4.2 Services Offered
DeepWork’s services for venture capital funds, private funds and other pooled investment vehicles
(sometimes referred to as “clients” or “funds” herein) include, but are not limited to, selecting
investments for acquisition, disposing of selected investments, managing risk and servicing assets.
DeepWork acts as an investment adviser to the funds, and, in some instances, DeepWork and its
affiliates act as general partners to the funds. As appropriate, references to we, us, our and DeepWork
include the general partners that service any of the funds.
DeepWork’s services include selection, monitoring, review, and disposition of portfolio assets on a
discretionary basis. The client and DeepWork enter into an Investment Management Agreement
(“IMA”) prior to the commencement of DeepWork managing the client’s portfolio. The IMA sets out the
terms of the engagement, including the investment objectives and fees to be charged, which remain
subject to review throughout the relationship.
DeepWork continuously reviews the funds’ portfolios to ensure that they meet the funds’ investment
objectives and investment strategies. DeepWork creates and manages a portfolio based on these
objectives and strategies.
DeepWork creates a portfolio consisting of some or all the following:
equities, equity equivalents (such
as Simple Agreement for Future Equity), notes (such as convertible for equity or promissory), and
selective third-party funds. DeepWork allocates the client’s assets among various investments, taking
into consideration the overall risk profile and portfolio construction objectives of the client. Portfolio
allocations are determined by each client’s individual needs and circumstances, including tolerance of
risk.
Other professionals (e.g., lawyers, accountants, insurance agents, etc.) are engaged directly by the client
on an as-needed basis. Conflicts of interest are disclosed to the client by way of a conflict disclosure in
the IMA, this brochure or a separate document. Where specific conflicts are identified, these will be
managed in accordance with our conflict management policies and disclosed to the client.
4.3 Tailored Relationships
DeepWork’s management tailors services to the specific needs of the client. The investment objectives
and desired portfolio investments for each client are documented in the IMA and reviewed periodically.
DeepWork’s clients are allowed to impose restrictions on the investments in their account and
DeepWork may accept any reasonable limitation or restriction to discretionary authority on the account
Investment Adviser Brochure| DeepWork Capital, LLC | January 2024 5
placed by the client. All limitations and restrictions placed on accounts must be fully documented in the
IMA or presented to DeepWork in writing.
4.4 Wrap Fee Programs
DeepWork does not participate in Wrap Fee Programs.
4.5 Assets Under Management
As of December 31, 2023, DeepWork manages $200,944,057 of assets, of which $64,557,253 is
managed on a discretionary basis, and $136,386,804 is managed on a non-discretionary basis.