9AT: VN CAPITAL MANAGEMENT, LLC

other names

VN CAPITAL MANAGEMENT, LLC

Adviser Profile

As of Date	03/25/2025
ADV Location	GREENSBORO, NC, United States
Adviser Type - Large advisory firm
Number of Employees	2
of those in investment advisory functions	2
Registration	SEC, Approved, 05/03/2013

AUM^*	96,144,493 -3%
of that, discretionary	96,144,493 -3%
Private Fund GAV^*	99,548,000
Avg Account Size	48,072,247 -3%
SMA’s	No
Private Funds	2
Contact Info	336 xxxxxxx

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count2	GAV$99,548,000

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser LONE PEAK PARTNERS MANAGEMENT LP	Hedge Fund42.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV42.9m	AUM186.3m	#Funds1
Adviser BURREN CAPITAL ADVISORS LIMITED	Hedge Fund73.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV73.9m	AUM103.9m	#Funds2
Adviser NEW VERNON INVESTMENT MANAGEMENT LLC	Hedge Fund107.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV107.9m	AUM116.9m	#Funds10
Adviser NEWPOINT REAL ESTATE INVESTMENT MANAGEMENT LLC	Hedge Fund225.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV225.8m	AUM225.8m	#Funds2
Adviser HIGH HURDLE CAPITAL LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM96.6m	#Funds-
Adviser TR CAPITAL MANAGEMENT, LLC	Hedge Fund156.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV156.9m	AUM149.6m	#Funds5
Adviser EMERGENT CAPITAL ADVISORS, LLC	Hedge Fund92.1m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV92.1m	AUM92.1m	#Funds1
Adviser 9823 CAPITAL, LP	Hedge Fund762.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV762.2m	AUM647.5m	#Funds6
Adviser ARTHEDGE CAPITAL MANAGEMENT, LLC	Hedge Fund165.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV165.2m	AUM165.2m	#Funds1
Adviser DIPSEA CAPITAL, LLC	Hedge Fund102.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV102.9m	AUM103.0m	#Funds1

Brochure Summary

Overview

A. Advisory Business Description James T. Vanasek and P. Donnell Noone founded VN Capital Management, LLC (“VN Capital” or the “Firm”) in March 2002 and each owns a 50% stake. VN Capital serves as the investment manager and a general partner of the VN Capital Fund I, L.P. (the “Fund I”) which was established in April 2002. Since September 2014, VN Capital has served as the investment manager for VN Capital Fund C, LP, a Delaware limited partnership (“Fund C” and together with Fund I, the “Fund”) which holds a 54% interest in Ceres Global Ag Corp, a publicly traded Canadian company. VN Capital Management was founded on the belief that long-term wealth accumulation is derived from exhaustive bottom-up proprietary research coupled with a conservative, value equity investing philosophy exhibiting low portfolio turnover, minimal expenses, and selective hedging. Across both Funds, we manage a concentrated portfolio of six to twelve US- and Canadian-listed small and micro-cap stocks from easily understood industries that are either overlooked by the broad investment community or that are unfairly tainted

by adverse news affecting their respective economic areas. James T. Vanasek and P. Donnell Noone are the founders and Principals of VN Capital. B. Type of Advisory Services VN Capital is the investment manager and a general partner of the Fund I, a limited partnership which specializes in investing in 6-12 small- and micro-cap stocks publicly traded in either the United States, Canada, the United Kingdom, or Denmark. VN Capital serves as investment manager for Fund C and invests the funds of the partnership in shares and warrants of Ceres Global Ag. Corp. C. Tailoring Advisory Services VN Capital does not tailor its advisory services for investors in a Fund but manages the assets of a Fund in accordance with the Fund’s investment policies and guidelines. D. Wrap Fee Programs VN Capital does not participate in any wrap fee programs. Item 4 5 E. Client Assets As of December 31, 2020, VN Capital manages all $99,578,000 of assets under management on a discretionary basis. That includes the $73,330,000 in Fund I and $26,248,000 in Fund C. 6

VN CAPITAL MANAGEMENT, LLC

Adviser Profile

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

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Brochure Summary

Overview