Risk disclosures

Private-market positions are inherently less liquid than positions in publicly listed securities. While VeldenStake offers continuous price quoting and same-tick settlement on its own ledger, the underlying companies are not publicly traded; you may not always be able to exit a position at the price you expect, particularly during periods of low platform activity.

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. Even where VeldenStake's secondary market offers liquidity, the value of a position can move significantly between entry and exit, including to zero.

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.