You own Heron-issued payment contingent promissory notes, which provide you with customized exposures to private funds and as well as exposure to pre-IPO companies (typically through single-asset SPVs, or direct shares).
The notes are all 100% backed by the underlying inventory. This means the exact total dollars invested on the platform track 1:1 with investments in the underlying funds or companies. The note vehicle lets us group all of your preferences into one offering, thereby enabling customization while saving you time, paperwork, and fees.
The private funds we offer are run by a curated set of large and experienced third-party managers such as Ares, Apollo, Golub, and more.
The notes do not provide you with any voting, information, or other shareholder rights to the underlying assets (eg. the private funds or pre-IPO companies)