Soma Capital 1 (15% Discount to NAV)

Soma Capital is a Silicon Valley–based venture capital firm founded in 2015 that focuses on seed-stage investments in high-growth technology startups. The firm manages over $1 billion in assets and has backed more than 900 companies globally, including early investments in over 30 unicorns such as Deel , Rippling , and Ramp . Soma Capital is known for making early “first-check” investments in founders building software, fintech, AI, and internet platforms. A significant portion of the firm’s portfolio consists of startups that graduated from Y Combinator , reflecting Soma’s strong ties to the accelerator ecosystem and its focus on identifying high-potential companies at the earliest stages. Through its global founder network and early-stage strategy, Soma Capital has helped support companies that have collectively created tens of billions of dollars in enterprise value.