Financial statements
Consolidated operations, cash flows, and changes in partners capital
Statement of assets, liabilities and partners' capital
Balance sheet — as of 2026-10-05
YTD 2026 as of 2026-10-05 | |
|---|---|
| Assets | |
| 1000 · Cash | $710,550.00 |
| 1100-2231479f · Investment — TapFin | $1,850,000.00 |
| 1100-35dea40d · Investment — Verdant | $1,000,000.00 |
| 1100-8b396e22 · Investment — Lattis | $250,000.00 |
| 1100-d1263d61 · Investment — Benchline | $4,900,000.00 |
| 1200-2231479f · Unrealized — TapFin | $3,302,500.00 |
| 1200-8b396e22 · Unrealized — Lattis | -$100,000.00 |
| 1200-d1263d61 · Unrealized — Benchline | $13,797,000.00 |
| Total Assets | $25,710,050.00 |
| Liabilities | |
| 2100 · Due to GP | $50,000.00 |
| Total Liabilities | $50,000.00 |
| Total Partners' capital | $25,660,050.00 |
$1,925,550.00 of net income is not yet allocated to partners. Close the period to allocate it — until then each partner’s capital account understates their NAV.
Statement of operations
Income statement — for YTD 2026
YTD 2026 YTD 2026 | |
|---|---|
| Income | |
| 4100 · Interest income | $4,300.00 |
| 4200 · Change in unrealized appreciation | $2,050,000.00 |
| Total Income | $2,054,300.00 |
| Expenses | |
| 5000 · Management fee | $100,000.00 |
| 5100 · Partnership expenses | $28,750.00 |
| Total Expenses | $128,750.00 |
| Net income | $1,925,550.00 |
Statement of cash flows
for YTD 2026
YTD 2026 YTD 2026 | |
|---|---|
| Operating activities | |
| 1100-35dea40d · Investment — Verdant | -$400,000.00 |
| 1100-d1263d61 · Investment — Benchline | -$900,000.00 |
| 2100 · Due to GP | -$50,000.00 |
| 4100 · Interest income | $4,300.00 |
| 5100 · Partnership expenses | -$28,750.00 |
| Total Operating activities | -$1,374,450.00 |
| Financing activities | |
| 3100 · Partners' capital | $1,200,000.00 |
| Total Financing activities | $1,200,000.00 |
| Net change in cash | -$174,450.00 |
| Opening cash | $885,000.00 |
| Ending cash | $710,550.00 |
Supplemental — non-cash investing and financing activities
Transactions that changed investments, borrowings, or partners’ capital without moving cash, so they do not appear above.
| 2026-03-31Management fee accrued — quarter ended 2026-03-31 Dr Management fee · Cr Due to GP | $50,000.00 |
| 2026-06-30Management fee accrued — quarter ended 2026-06-30 Dr Management fee · Cr Due to GP | $50,000.00 |
Statement of changes in partners' capital
for YTD 2026 — beginning capital is the balance carried into the period; this is the detail behind the single partners' capital line on the balance sheet
| Partner | Beginning | Contributions | Distributions | Mgmt fees | Partnership exp. | Operating income | Net realized G/(L) | Net unrealized G/(L) | Transfers | Carry accrued | Unclassified | Ending |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Coastal University Endowment | $3,380,175.00 | $180,000.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3,560,175.00 |
| Greenfield County Employees Pension | $4,506,900.00 | $240,000.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4,746,900.00 |
| Hemrock Angels Aggregator II LP | $1,126,725.00 | $60,000.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1,186,725.00 |
| Hemrock Founders Capital LP | $7,887,075.00 | $420,000.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $8,307,075.00 |
| Northstar Family Office II LLC | $5,633,625.00 | $300,000.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $5,933,625.00 |
| Total | $22,534,500.00 | $1,200,000.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $23,734,500.00 |