Risk disclosures

Pre-IPO positions are illiquid. The underlying companies are not publicly traded, and their shares are not freely transferable — there is no secondary market on VeldenStake or elsewhere into which you can sell a position back. You cannot exit before a liquidity event, and you should be prepared to hold indefinitely.

When you buy, your position is locked until the company has a liquidity event — typically an IPO, or an acquisition. There is no early exit, no buy-back, and no guaranteed timeline. Only cash you have not invested can be withdrawn before then.

The timing of any IPO or acquisition is outside VeldenStake's control, and a company may never have a liquidity event at all. If it does not, your position may remain illiquid for years, or indefinitely, regardless of the company's reported value.

VeldenStake acquires a finite block of a company's shares from existing holders and resells fractions of that block to users for a 1% commission. This is a one-way arrangement: you are buying into a sourced block, not trading in a continuous two-sided market.

The price displayed for each company on VeldenStake reflects an estimated private-market reference value based on recent funding rounds, tender activity, and public-comparable signals. It is not a market price set by continuous, two-sided trading. Actual realized values may differ — sometimes materially — from the quoted reference.

Private-company investments tend to be highly concentrated. A small number of issuers can drive a large share of portfolio outcomes. Consider position sizing, diversification, and your own risk tolerance carefully.

Pre-IPO investments often require long holding periods to realize their thesis. Because positions are locked until a liquidity event, the value of a position can move significantly — including to zero — before you are ever able to realize it.

You may lose some or all of your principal. VeldenStake is not a guarantor of your position's value, and no portion of your account is FDIC-insured or otherwise protected from market loss.

Materials on VeldenStake may contain forward-looking statements, including about a company's prospects or potential exit events. These are statements, not promises; actual outcomes may differ.

By opening an account, you acknowledge that you've read and understood this Risk Disclosure and are comfortable with the risks of pre-IPO private-market investing.