Disclosures
General
Human Capital Investment Management LLC (“HCIM”) is a U.S. Securities and Exchange Commission Registered Investment Advisor (“RIA”). Registration as an RIA does not imply any special skill or training. This website does not constitute an offer to buy or sell any securities. All securities offerings will be made through formal offering documents. Investing in venture capital involves a high degree of risk and any decision to invest in an HCIM strategy should be made in consultation with trusted legal, financial, accounting, and/or other advisors. Past performance is not indicative of future results.
All portfolio companies discussed on this website are for illustrative purposes, and no guarantee of success is made nor implied.
Portfolio Page: Except as specifically stated herein, the companies listed on the portfolio page only include portfolio companies in which both (i) HCIM advised funds have invested (including funds that were advised by affiliates of HCIM until HCIM assumed advisory duties in 2019), and (ii) HCIM or its affiliates have conducted talent engagements. Excluded from this list are a limited number of portfolio companies wherein the issuer has not provided HCIM permission to disclose the identity of such portfolio company publicly. This list is updated periodically and as such may not reflect HCIM’s most recent portfolio company talent engagements or other adjustments. A full list of HCIM’s investments may be made available upon request to legal@human.capital.
All portfolio related information provided is as of March 31, 2023.
Other Important Disclosures
There can be no assurances that HCIM’s investment objectives will be achieved or investment strategies will be successful. Any investment in a vehicle managed by HCIM involves a high degree of risk including the risk that the entire amount invested is lost. Any investments or portfolio companies described or referred to are not representative of all investments in vehicles managed by HCIM and there can be no assurance that the investments described are, or will be, profitable or that other investments made in the future will have similar character or results. Past results of HCIM’s pooled investment vehicles, investments, or investment strategies are not necessarily indicative of future results.
Views expressed by employees on blogs, videos, speaking panels, podcasts, and social media (collectively, “Posts”) are not necessarily the views of HCIM nor its respective affiliates. The Posts are not directed at any current or potential HCIM limited partners, do not constitute an offer to buy or sell any securities, and should not be used nor relied upon in evaluating the merits of any potential investment in an HCIM strategy or any of its portfolio companies.
Links to third party website(s) that are not owned or controlled by HCIM (the “Linked Websites”),and are provided as a courtesy to HCIM’s website visitors. HCIM reserves the right to add, change, decline or remove any link at any time. HCIM has no control over, and assumes no responsibility for, (i) the materials, information, goods or services available, or contained on the Linked Websites, or (ii) any privacy or other practices of the Linked Websites. By accessing any of the Linked Websites, you expressly relieve HCIM and its respective affiliates of any and all liability arising from the use of the Linked Websites. Accordingly, HCIM encourages users to read the terms and conditions and privacy policies of Linked Websites visited.
Additional important information about HCIM, including its Form ADV Part 2A Brochure, is available at the SEC’s website: https://adviserinfo.sec.gov/firm/summary/296844.
Terms of Service
Agreement to Terms of Use
By accessing this website and any materials presented herein, you accept in their entirety and without modification the following terms and conditions (“Terms of Use”) pertaining to the use of the website.This website is maintained and operated by HCIM. In accordance with industry custom, this website occasionally uses terminology that may be interpreted to suggest that our firm is actually a single entity (collectively, “Human Capital”). However, there is no such single entity and all of the entities that comprise our firm have their own separate legal existence. Human Capital reserves the right to change the terms, conditions, and notices under which this website is offered without notice at any time.
You acknowledge and agree that Human Capital may restrict, suspend or terminate the Terms of Use or your access to, and use of, all or any part of the website, including Linked Websites, at any time, with or without cause, including but not limited to any breach of the Terms of Use as determined in Human Capital’s absolute discretion, and without prior notice or liability. Each use of the website constitutes your agreement to be bound by the then-current terms and conditions set forth in these Terms of Use. If you do not agree with the Terms of Use, you should exit the website immediately, and you are not granted permission to access or otherwise use this website.
The website is controlled and operated by Human Capital from the United States and is not intended to subject us to the laws or jurisdiction of any state, country, or territory other than that of the United States. Any use of the website is at your own risk, and you must comply with all applicable laws, rules and regulations in doing so. We may limit the website’s availability at any time, in whole or in part, to any person, geographic area or jurisdiction that we choose.
Ownership and Limited License to Use the Website
Human Capital owns and maintains this website. The website, including all content, information, and materials incorporated into or made available through the website, is the exclusive property of Human Capital, and is protected by United States and international law. You agree not to access or use the website, or any content, information, or materials incorporated into or made available through the website, except as expressly permitted under these Terms of Use. Except as specifically permitted below, nothing contained in these Terms of Use or the website itself either grants or will be construed to grant to you or any third party, by implication, estoppel or otherwise, any title or interest in, or any license or right to use or reproduce, any image, text, software, code, trademark, logo or service mark contained in the website, including without limitation the name or logo of Human Capital, any of its affiliates, and/or any other entity described on the website. No act of downloading or otherwise copying from this website will transfer title to any software or material to any user hereof. Human Capital reserves, and will enforce to the fullest extent possible, all rights that it may have with respect to copyright and trademark ownership of all material contained in the website. Human Capital grants you a limited, nonexclusive license to display and otherwise use portions of the website solely for your own private, non-commercial, informational purposes, and to print pages from the website only in connection with such use. You may not copy, store, modify, distribute, transmit, perform, reproduce, publish, license, create derivative works from, transfer, or sell any text, graphics, logos, and other source-identifying symbols, designs, icons, images, or other information, software, or code obtained from the website without the prior express written permission of Human Capital which may be withheld for any or no reason.
No Offer of Securities; No Advice
THIS WEBSITE AND THE INFORMATION INCLUDED HEREIN IS FOR GENERAL INFORMATION PURPOSES ONLY. UNDER NO CIRCUMSTANCES SHOULD ANY MATERIAL AT THE WEBSITE BE USED OR CONSIDERED AS AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITY, FUTURE OR OTHER FINANCIAL PRODUCT OR INSTRUMENT, INCLUDING ANY INTEREST IN ANY INVESTMENT FUND SPONSORED OR MANAGED BY HUMAN CAPITAL OR ANY OF ITS AFFILIATES OR ANY INVESTMENT ADVISORY SERVICES OFFERED BY HUMAN CAPITAL OR ITS AFFILIATES. ANY SUCH OFFER OR SOLICITATION CAN AND WILL BE MADE ONLY BY MEANS OF THE APPLICABLE CONFIDENTIAL OFFERING DOCUMENTS OF EACH SUCH INVESTMENT FUND OR OTHER APPLICABLE DOCUMENT, ONLY IN JURISDICTIONS IN WHICH SUCH AN OFFER WOULD BE LAWFUL AND ONLY TO INDIVIDUALS WHO MEET THE INVESTOR SUITABILITY AND SOPHISTICATION REQUIREMENTS OF AS DETERMINED FROM TIME TO TIME BY HUMAN CAPITAL IN ITS SOLE AND ABSOLUTE DISCRETION.
This website is also not intended to provide any investment, financial, legal, regulatory, accounting, tax or similar advice, and nothing on this website should be construed as a recommendation, by Human Capital, its affiliates, or any third party, to acquire or dispose of any investment or security, or to engage in any investment strategy or transaction. You should consult your own investment, legal, tax, and/or similar professionals regarding your specific situation and any specific decisions.
No Reliance
While Human Capital uses reasonable efforts to update the information contained in the website, Human Capital makes no representations or warranties as to the accuracy, reliability or completeness of any information at the website. Any content of the website is subject to change without notice. As noted above, permission by Human Capital to access this website should not be construed as, or relied upon as, investment, financial, legal, regulatory, accounting, tax or similar advice. All statements in this website, including statements in blog posts, are the opinions of Human Capital unless otherwise specified.
Materials to be Consulted in their Entirety
All materials at the website are meant to be reviewed in their entirety, including any footnotes, legal disclaimers, restrictions, disclosures, hedge clauses, and any copyright or proprietary notices, including those contained in this Terms of Use. Any disclaimers, restrictions, disclosures, or hedge clauses apply to any partial document or material in the same manner as they do the whole, and will be deemed incorporated in the portion of any material or document that you consult or download.
No Warranty
HUMAN CAPITAL, ITS AFFILIATES AND THEIR OFFICERS, DIRECTORS, MEMBERS, PRINCIPALS, INVESTORS, AGENTS AND EMPLOYEES MAKE NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, REGARDING THE SUITABILITY OR OTHER CHARACTERISTICS OF THE INFORMATION AND MATERIALS CONTAINED ON OR PRESENTED THROUGH THE WEBSITE. ALL SUCH INFORMATION AND MATERIALS ARE PROVIDED “AS IS”, WITHOUT ANY WARRANTY OF ANY KIND. HUMAN CAPITAL HEREBY FURTHER DISCLAIMS ALL WARRANTIES AND CONDITIONS WITH REGARD TO SUCH INFORMATION AND MATERIALS, INCLUDING ALL IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, AND AVAILABILITY.
HUMAN CAPITAL, ITS AFFILIATES, AND THEIR OFFICERS, DIRECTORS, MEMBERS, PRINCIPALS, INVESTORS, AGENTS, AND EMPLOYEES FURTHER ASSUME NO RESPONSIBILITY FOR, AND MAKE NO WARRANTIES THAT, FUNCTIONS CONTAINED AT THIS WEBSITE WILL BE UNINTERRUPTED OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THE WEBSITE OR THE SERVER THAT MAKES IT AVAILABLE WILL BE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. HUMAN CAPITAL, ITS AFFILIATES, AND THEIR OFFICERS, DIRECTORS, MEMBERS, PRINCIPALS, INVESTORS, AGENTS, AND EMPLOYEES SHALL NOT BE LIABLE FOR ANY DAMAGES OF ANY TYPE OF KIND TO, VIRUSES THAT MAY INFECT, OR SERVICES REPAIRS OR CORRECTIONS THAT MUST BE PERFORMED, ON YOUR COMPUTER OR OTHER PROPERTY, ON ACCOUNT OF YOUR ACCESSING OR USE OF THIS WEBSITE.
Limitation of Liability; Indemnification
IN NO EVENT SHALL HUMAN CAPITAL, ITS AFFILIATES, OR THEIR OFFICERS, DIRECTORS, MEMBERS, PRINCIPALS, INVESTORS, AGENTS, AND EMPLOYEES BE LIABLE FOR ANY CLAIMS, LIABILITIES, LOSSES, COSTS, OR DAMAGES, INCLUDING DIRECT, INDIRECT, PUNITIVE, EXEMPLARY, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN ANY WAY CONNECTED WITH (I) THE USE OF OR INABILITY TO USE THE WEBSITE OR WITH ANY DELAY IN USING THE WEBSITE, INCLUDING BUT NOT LIMITED TO LOSS OF REVENUE, TRADING, PROFITS, ANTICIPATED PROFITS, BUSINESS, SAVINGS, GOODWILL, USE, OPPORTUNITY, OR DATA, (II) ANY INFORMATION AND MATERIALS OBTAINED THROUGH THE WEBSITE, OR (III) OTHERWISE ARISING OUT OF THE USE OF THE WEBSITE, IN ANY CASE WHETHER BASED ON THEORIES ARISING IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. SUCH LIMITATIONS APPLY EVEN IF HUMAN CAPITAL, ITS AFFILIATES, OR ANY OF ITS OFFICERS, DIRECTORS, MEMBERS, PRINCIPALS, INVESTORS, AGENTS, OR EMPLOYEES HAVE BEEN ADVISED OF THE POSSIBILITY OF DAMAGES OR COULD HAVE FORESEEN THE DAMAGES. FURTHER, HUMAN CAPITAL WILL NOT BE RESPONSIBLE FOR ANY FAILURE TO COMPLY, BY YOU OR ANY THIRD PARTY, WITH THESE TERMS OF USE OR WITH APPLICABLE FEDERAL, STATE AND/OR LOCAL LAWS.
These limitations of liability will apply regardless of (i) any negligence or gross negligence of Human Capital or its affiliates or (ii) whether the liability arises in negligence, gross negligence, strict liability, contract, tort (including negligence or gross negligence), or any other theory of legal liability, and will remain in effect even if any remedy fails of its essential purpose.
Your sole remedy for dissatisfaction with your use of the website is to stop using the website.
You hereby agree to indemnify, defend and hold Human Capital, its affiliates, and their officers, directors, members, principals, investors, agents, and employees harmless from and against any and all liability costs incurred by these parties in connection with any claim arising out of any breach by you of these Terms of Use or any of the representations, warranties, and covenants made by you herein, including, without limitation, attorneys’ fees and costs. You shall cooperate as fully as reasonably required or requested in the defense of any claim. Human Capital reserves the right, at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you and you shall not in any event settle any matter without the written consent of Human Capital.
Governing Law
Any dispute, claim or controversy arising out of or relating to this website will be determined by arbitration in San Francisco, California. By accessing this website, you agree to have all disputes, claims or controversies arising out of or relating to this website decided by neutral binding arbitration, giving up any rights you might possess to have those matters litigated in a court or jury trial. By using this website, you confirm your agreement to this arbitration provision is voluntary. These Terms of Use are governed by the internal laws of the State of Delaware, without reference to its conflicts of laws provisions.
General
These Terms of Use do not, and will not be construed to, create any partnership, joint venture, employer-employee, agency or franchisor-franchisee relationship between you and Human Capital. Although certain individuals are identified as “Principals” or “Partners”, such titles are not intended to indicate that any such individual is actually a principal or partner of any legal entity as those terms are used for legal purposes. Such titles should not be construed to indicate that an individual has any ownership interest in Human Capital nor should such titles be construed to indicate that an individual has any particular decision-making authority or responsibility.
If any provision of these Terms of Use is held to be invalid or unenforceable in any jurisdiction, such provision shall be deemed modified to the minimum extent necessary so that such provision shall no longer be held to be invalid or unenforceable, and these Terms of Use shall be interpreted so as to achieve the intent expressed herein to the greatest extent possible in the jurisdiction in question. Any such modification, invalidity or unenforceability shall be strictly limited both to such provision and to such jurisdiction. You may not assign, transfer, or sublicense any or all of your rights or obligations under these Terms of Use without our express prior written consent. We may assign, transfer, or sublicense any or all of our rights or obligations under these Terms of Use without restriction. No waiver by either party of any breach or default under these Terms of Use will be deemed to be a waiver of any preceding or subsequent breach or default. Any heading, caption, or section title contained herein is for convenience only, and in no way defines or explains any section or provision. All terms defined in the singular will have the same meanings when used in the plural, where appropriate and unless otherwise specified. Any use of the term “including” or variations thereof in these Terms of Use will be construed as if followed by the phrase “without limitation.” These Terms of Use, including any terms and conditions incorporated herein, constitute the entire agreement between you and Human Capital relating to the subject matter hereof, and supersede any and all prior or contemporaneous written or oral agreements or understandings between you and Human Capital relating to such subject matter. Human Capital will not be responsible for any failure to fulfill any obligation due to any cause beyond its control.
Privacy Policy
General
This Privacy Policy explains what Personal Information (as defined below) we collect, how we use and share that information, and your choices concerning our information practices. Please review this Privacy Policy carefully and contact legal@human.capital if you have any questions. By using the website, you agree to the practices described in this Privacy Policy. If you do not agree to this Privacy Policy, please do not access the website.
Certain processing of your Personal Information by Human Capital may be subject to data protection and privacy laws, including the EU’s General Data Protection Regulation (the “GDPR”), the UK Data Protection Act of 2018 along with the “GDPR” as retained as UK law by the European Union (Withdrawal) Act 2018 (together, the “UK GDPR”), and the California Consumer Privacy Act, as amended by the California Privacy Rights Act (together, the “CCPA”). For the avoidance of doubt, Human Capital may process the Personal Information of individuals in the EU and the UK who use the internet services (the “EU/UK Processing”) or of users of the websites who reside in California (the “CCPA Processing”).
This Privacy Policy makes clear where its disclosures apply only to the EU/UK Processing or to the CCPA Processing. All other disclosures in this Privacy Policy relate to Personal Information to which the GDPR, the UK GDPR, and the CCPA do not apply, as well as to the EU/UK Processing and the CCPA Processing.
1. Personal Information We Collect
We collect information that alone or in combination with other information in our possession could be used to identify you (“Personal Information”) as follows:
Social Media Information: We have pages on social media sites like Twitter and LinkedIn (“Social Media Pages”). When you interact with our Social Media Pages, we will collect Personal Information that you elect to provide to us, such as your contact details. In addition, the companies that host our Social Media Pages may provide us with aggregate information and analytics regarding the use of our Social Media Pages.
Internet Activity Information: When you visit, use, and interact with the website, we may receive certain information about your visit, use, or interactions. For example, we may monitor the number of people that visit the website, peak hours of visits, which page(s) are visited, the domains our visitors come from (e.g., Google.com, Yahoo.com, etc.), and which browsers people use to access the website (e.g., Chrome, Firefox, Microsoft Internet Explorer, etc.), broad geographical information, and navigation patterns. In particular, the following information is created and automatically logged in our systems:
- Log Information: Information that your browser automatically sends whenever you visit the website. Log Information includes your Internet Protocol (“IP”) address, browser type and settings, the date and time of your request, and how you interacted with the website.
- Cookies Information: Please see the “Cookies” section below to learn more about how we use cookies.
- Device Information: Includes name of the device, operating system, and browser you are using. Information collected may depend on the type of device you use and its settings.
- Usage Information: We collect information about how you use our website, such as the types of content that you view or engage with, the features you use, the actions you take, and the time, frequency, and duration of your activities.
- Location Information: We derive a rough estimate of your location from your IP address.
- Email Open/Click Information: We use pixels in our email campaigns that allow us to collect your email and IP address as well as the date and time you open an email or click on any links in the email.
Cookies: We use cookies to operate and administer our website, gather usage data on our website, and improve your experience on it. A “cookie” is a piece of information sent to your browser by a website you visit. Cookies can be stored on your computer for different periods of time. Some cookies expire after a certain amount of time, or upon logging out (session cookies), others survive after your browser is closed until a defined expiration date set in the cookie (as determined by the third party placing it), and help recognize your computer when you open your browser and browse the Internet again (persistent cookies). For more details on cookies please visit All About Cookies.
Please refer to your Internet browser’s “Help” or similar section for more information on how to delete and/or disable your device or browser from receiving cookies or controlling your tracking preferences.
Please note that if you limit the ability of websites to set cookies, you may be unable to access certain parts of the website and you may not be able to benefit from the full functionality of the website.
Advertising networks may use cookies to collect Personal Information. Most advertising networks offer you a way to opt out of targeted advertising. If you would like to find out more information, please visit the Network Advertising Initiative’s online resources and follow the opt-out instructions there.
If you access the website on your mobile device, you may not be able to control tracking technologies through the settings.
Analytics: We use Google Analytics, a web analytics service provided by Google, Inc. (“Google”). Google Analytics uses cookies to help us analyze how users use the website and enhance your experience when you use the website. For more information on how Google uses this information, click here.
Online Tracking and Do Not Track Signals: We and our third party service providers, including LinkedIn, may use cookies, pixels, or other tracking technologies to collect information about your browsing activities over time and across different websites following your use of the website. Our website currently does not respond to “Do Not Track” (“DNT”) signals and operates as described in this Privacy Policy whether or not a DNT signal is received. If we do respond to DNT signals in the future, we will update this Privacy Policy to describe how we do so.
2. How We Use Personal Information
We may use Personal Information for the following purposes:
- To analyze how you interact with our website;
- To maintain and improve the website;
- To develop new products and services;
- To prevent fraud, criminal activity, or misuses of our website, and to ensure the security of our IT systems, architecture, and networks; and
- To comply with legal obligations and legal process and to protect our rights, privacy, safety, or property, and/or that of our affiliates, you, or other third parties.
Aggregated Information. We may aggregate Personal Information and use the aggregated information to analyze the effectiveness of our website, to improve and add features to our website, and for other similar purposes. In addition, from time to time, we may analyze the general behavior and characteristics of users of our website and share aggregated information like general user statistics with prospective business partners. We may collect aggregated information through the website, through cookies, and through other means described in this Privacy Policy.
3. Sharing and Disclosure of Personal Information
In certain circumstances we may share Personal Information without further notice to you, unless required by the law, as set forth below:
- Vendors and Service Providers: To assist us in meeting business operations needs and to perform certain services and functions, we may share Personal Information with vendors and service providers, including providers of hosting services, cloud services, and other information technology services providers, email communication software and email newsletter services, advertising and marketing services, payment processors, customer relationship management and customer support services, and analytics services. Pursuant to our instructions, these parties will access, process, or store Personal Information in the course of performing their duties to us.
- Business Transfers: If we are involved in a merger, acquisition, financing due diligence, reorganization, bankruptcy, receivership, sale of all or a portion of our assets, or transition of service to another provider (collectively a “Transaction”), your Personal Information and other information may be shared in the diligence process with counterparties and others assisting with the Transaction and transferred to a successor or affiliate as part of that Transaction along with other assets.
- Legal Requirements: If required to do so by law or in the good faith belief that such action is necessary to (i) comply with a legal obligation, including to meet national security or law enforcement requirements, (ii) protect and defend our rights or property, (iii) prevent fraud, (iv) act in urgent circumstances to protect the personal safety of users of the website, or the public, or (v) protect against legal liability.
- Affiliates: We may share Personal Information with our affiliates, meaning an entity that controls, is controlled by, or is under common control with Human Capital. Our affiliates may use the Personal Information we share in a manner consistent with this Privacy Policy.
CCPA Disclosure: We do not sell your Personal Information, nor do we share it for purposes of cross-context behavioral advertising, and we have not done so in the last 12 months. We do not sell, nor do we knowingly collect or share, the Personal Information of minors.
EU/UK Disclosure: Your Personal Information may be transferred to, processed in and accessed from jurisdictions outside the EU and the UK by Human Capital and the third parties with which we share your Personal Information. Specifically, your Personal Information may be transferred to Human Capital entities and third parties in the United States. When we transfer your Personal Information among Human Capital entities, or to other third party organizations, we will do so in accordance with the GDPR and/or the UK GDPR, including through the use of European Commission-approved standard contractual clauses, a third party’s binding corporate rules, or where we are entitled to rely on one of the other safeguards permitted by the GDPR and/or the UK GDPR.
4. Children
Our website is not directed to children who are under the age of 13. Human Capital does not knowingly collect Personal Information from children under the age of 13. If you have reason to believe that a child under the age of 13 has provided Personal Information to Human Capital through the website please contact us at legal@human.capital and we will endeavor to delete that information from our databases.
5. Security
You use the website at your own risk. We implement commercially reasonable technical, administrative, and organizational measures to protect Personal Information both online and offline from loss, misuse, and unauthorized access, disclosure, alteration, or destruction. However, no Internet or email transmission is ever fully secure or error free. In particular, email sent to or from us may not be secure. Therefore, you should take special care in deciding what information you send to us via email. Please keep this in mind when disclosing any Personal Information to Human Capital via the Internet. In addition, we are not responsible for circumvention of any privacy settings or security measures contained on the website, or third party websites.
6. International Users
By using our website, you understand and acknowledge that your Personal Information will be transferred from your location to our facilities and servers in the United States.
7. Changes to the Privacy Policy
The website and our business may change from time to time. As a result, we may change this Privacy Policy at any time. When we do, we will post an updated version on this page, unless another type of notice is required by the applicable law. By continuing to use our website or providing us with Personal Information after we have posted an updated Privacy Policy, or notified you by other means if applicable, you consent to the revised Privacy Policy and practices described in it.
8. Contact Us
If you have any questions about our Privacy Policy or information practices, please feel free to contact us at our designated request address: legal@human.capital.
Last Updated: 4/21/23