Overview
A. Describe your advisory firm, including how long you have been in business. Identify your
principal owner(s).
Founders Circle Capital, LLC ("FCC" or the "Firm") provides investment advice to private
funds (collectively, "Clients" or "Funds"). The investors in such Clients are generally high
net worth individuals and institutions. FCC has been in business since April 2012. The
owners of the Firm are Michael Jung and Kenneth Loveless.
B. Describe the types of advisory services you offer. If you hold yourself out as specializing in a
particular type of advisory service, such as financial planning, quantitative analysis, or
market timing, explain the nature of that service in greater detail. If you provide investment
advice only with respect to limited types of investments, explain the type of investment advice
you offer, and disclose that your advice is limited to those types of investments.
FCC is a private investment management firm. The Firm's Clients invest in private
companies in the technology sector by acquiring shares from selling shareholders, primarily
founders and management, as well as earlier stage institutional investors in these companies.
Occasionally, a Client may make investments directly in a private company. The Firm's
Clients may also guarantee loans made to individuals who own stock in private companies
that such Client would like to acquire. In exchange for such a guarantee,
the Client generally
receives an option to acquire a portion of such individual's stock in the private company.
C. Explain whether (and, if so, how) you tailor your advisory services to the individual needs of
clients. Explain whether clients may impose restrictions on investing in certain securities or
types of securities.
The Firm tailors its advisory services to the specific needs of a particular Client consistent
with the Client's governing documents. The Clients' governing documents typically include
negotiated restrictions on investments, and may also provide for an advisory board
composed of certain of the investors that may waive investment restrictions on behalf of the
Client.
D. If you participate in wrap fee programs by providing portfolio management services, (1)
describe the differences, if any, between how you manage wrap fee accounts and how you
manage other accounts, and (2) explain that you receive a portion of the wrap fee for your
services.
Not Applicable.
E. If you manage client assets, disclose the amount of client assets you manage on a
discretionary basis and the amount of client assets you manage on a non-discretionary basis.
Disclose the date "as of" which you calculated the amounts.
The amount of regulatory assets under management is $1,034,210,069 as of December 31, 2023.
This amount is managed on a discretionary basis.