Arbolada Capital Management Co

Cascade · Distributions

Where each dollar goes

$875K

LP $875K · Fees $0 · GP $0

Standard scenario · $500K equity · 5y hold · 1.75× exitRun your own cascade →

Class structure · 2 classes

How Arbolada Capital Management Co divides the cap table

The cascade above models the blended LP view. Click a class below to view per-class economics.

Preferred Stock
preferred
“[ — ] shares of preferred stock, with the par value of $0.01 per share (the 'Preferred Stock')”— PPM p. 1
Common Stock
common
“[ — ] shares of common stock, with the par value of $0.01 per share (the 'Common Stock')”— PPM p. 1

Deal diligence14 findings · worst high

Automated checks across the fund's extracted PPM. Every finding is shown with the evidence it's based on — proven numbers or a verbatim quote and page.

Document quality

Drafting defects found in the PPM prose — numeric inconsistencies, broken cross-references, unfilled placeholders, and defined-term problems. Each is shown with the offending quote and its page.

Unfilled placeholder text — [ — ] (authorized share counts, Section 4.1)

High

Section 4.1 ships with three unfilled [ — ] blanks for total authorized shares, authorized preferred shares, and authorized common shares — the certificate is not finalized.

“The total number of shares of capital stock of all classes which the Corporation shall have authority to issue is [ — ] shares. The authorized stock is divided into [ — ] shares of preferred stock, with the par value of $0.01 per share (the 'Preferred Stock'), and [ — ] shares of common stock, with the par value of $0.01”

PPM p.198% confidence

Broken cross-reference — Section 7.2.7 (should be 8.2.7)

Medium

The definition of 'Excepted Holder Limit' cites 'Section 7.2.7' but no such subsection exists — Article VII is the Indemnification article with only Sections 7.1-7.3; the correct reference is Section 8.2.7 (Exceptions), which is cited correctly in the adjacent 'Excepted Holder' definition and in the following clause of the same sentence.

“Excepted Holder Limit. The term 'Excepted Holder Limit' shall mean, provided that the affected Excepted Holder agrees to comply with the requirements established by the Certificate of Incorporation or by the Board of Directors pursuant to Section 7.2.7 and subject to adjustment pursuant to Section 8.2.8, the percentage limit established for an Excepted Holder by the Board of Directors pursuant to Section 8.2.7.”

PPM p.795% confidence

Spelling / typo — subject-verb disagreement: 'containing this Article VIII are filed'

Info

The 'Initial Date' definition uses the plural verb 'are filed' with the singular subject 'Certificate of Incorporation'; should read 'is filed.'

“the date upon which the Amended and Restated Certificate of Incorporation containing this Article VIII are filed with the Delaware Secretary of State.”

PPM p.790% confidence

Diligence gaps

Questions a standard diligence questionnaire would ask that the PPM leaves unanswered.

DDQ gap: Does the fund engage an independent auditor?

High

The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ gap: Does the fund have a GP clawback provision?

High

The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ gap: Is the fund's fee schedule disclosed (management fee, etc.)?

High

The offering documents don't answer a standard institutional DDQ question (Fees & Expenses). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ gap: What is the LP/GP carried-interest split above the preferred return?

High

The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ gap: What is the preferred return (hurdle) rate offered to LPs?

High

The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ gap: Does the fund use a third-party fund administrator?

Medium

The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ gap: Is there a GP catch-up, and at what rate?

Medium

The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ gap: What distribution-waterfall structure does the fund use?

Medium

The offering documents don't answer a standard institutional DDQ question (Structure). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ gap: What is the GP's capital commitment (skin in the game)?

Medium

The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ gap: What is the target offering size?

Medium

The offering documents don't answer a standard institutional DDQ question (Structure). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ gap: What is the minimum LP investment?

Low

The offering documents don't answer a standard institutional DDQ question (Structure). An allocator will ask this directly — the GP should be ready with an answer.

90% confidence

DDQ readiness

How much of a standard institutional due-diligence questionnaire this fund's offering documents answer out of the box. Gaps are questions an allocator will ask directly.

15%

Coverage

2 answered0 partial11 gaps13 questions

Economics

What is the preferred return (hurdle) rate offered to LPs?Gap
What is the LP/GP carried-interest split above the preferred return?Gap
Is there a GP catch-up, and at what rate?Gap
Does the fund have a GP clawback provision?Gap
What is the GP's capital commitment (skin in the game)?Gap

Structure

What distribution-waterfall structure does the fund use?Gap
What is the fund's investment strategy / asset class?UnknownAnswered
What is the fund's vintage year?Vintage 2011.Answered
What is the target offering size?Gap
What is the minimum LP investment?Gap

Fees & Expenses

Is the fund's fee schedule disclosed (management fee, etc.)?Gap

Governance

Does the fund engage an independent auditor?Gap
Does the fund use a third-party fund administrator?Gap

Generate IC memo →

Fee scheduletaken before LP distributions

No fees extracted from the PPM.

Service providers3 gaps

Provider network →

Legal Counsel

Gap

Not disclosed

No independent counsel named for investors. Common in small syndications where Manager and Fund share counsel — reduces independence. Verify during diligence.

Auditor

Gap

Not disclosed

Audit intent not stated in PPM. Ask the sponsor: will the fund be audited, by whom, and on what frequency?

Fund Administrator

Gap

Not disclosed

No third-party fund administrator referenced. Manager likely handles admin internally — common for <$10M raises but reduces independence.

Placement Agent

No placement agent engaged

No placement agent engaged. Direct placement by Manager — no placement fees eat your invested capital.

Community threads0 active

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Waterfalls Composite Score

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Benchmark · Other Alternatives

Other / Specialty

See where this fund sits across 25 indexed other / specialty funds — median pref, hurdle, splits, GP commit.

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Score breakdown5 dimensions

Absolute LP Takeⓘunscored—

GP Timing Riskⓘunscored—

Pref Qualityⓘunscored—

Fee Dragⓘunscored—

Alignmentⓘunscored—

LP take × exit multiple

at 5y hold · 100% at 1.75×

LP take Fee drag· sim at $500k equity

Exit	LP IRR	LP MoC	LP Take	Fees
1.00×	0.0%	1.00×	100.0%	0.0%
1.50×	8.4%	1.50×	100.0%	0.0%
1.75×	11.8%	1.75×	100.0%	0.0%
2.00×	14.9%	2.00×	100.0%	0.0%
2.50×	20.1%	2.50×	100.0%	0.0%
3.00×	24.6%	3.00×	100.0%	0.0%

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Arbolada Capital Management Co

Preferred Stock

Common Stock

Document quality

Unfilled placeholder text — [ — ] (authorized share counts, Section 4.1)

Broken cross-reference — Section 7.2.7 (should be 8.2.7)

Spelling / typo — subject-verb disagreement: 'containing this Article VIII are filed'

Diligence gaps

DDQ gap: Does the fund engage an independent auditor?

DDQ gap: Does the fund have a GP clawback provision?

DDQ gap: Is the fund's fee schedule disclosed (management fee, etc.)?

DDQ gap: What is the LP/GP carried-interest split above the preferred return?

DDQ gap: What is the preferred return (hurdle) rate offered to LPs?

DDQ gap: Does the fund use a third-party fund administrator?

DDQ gap: Is there a GP catch-up, and at what rate?

DDQ gap: What distribution-waterfall structure does the fund use?

DDQ gap: What is the GP's capital commitment (skin in the game)?

DDQ gap: What is the target offering size?

DDQ gap: What is the minimum LP investment?

DDQ readiness

Fee scheduletaken before LP distributions

Community threads0 active

Reviews