Invest in the private market like the big institutions do — from $25,000.
Twenty-five years doing one thing: buying into private companies before they list — with our own capital going in ahead of every investor dollar.
300+ deals, and 1,200 investors holding what we hold at the price we paid. What we sell is the judgment to pick the round — and the plumbing to put one person inside a seven-figure block.
Three steps. The first takes fifteen minutes and commits you to nothing.
Fifteen minutes. We verify accreditation and show you what we have room in — the round we bought, and the terms you would hold.
We already hold the block, our capital in first. Your $25,000 takes a piece of it, on the institution’s terms.
You hold privately and get our updates. The exit comes at listing or acquisition — typically 18 to 36 months from our entry.
Most of a company’s gains happen while it is still private. By the time the public can buy, the growth has slowed — and the early investors are selling into it.
According to Cambridge Associates, the US Venture Capital Index (as of 12/31/23) reflected different long-term return patterns than traditional public indices over a 25-year period. Index performance is not the performance of any Lumara position, and past performance is not indicative of future results.
The genuinely attractive, lucrative investments have never been available to the public market. Through us, they can be available to you.
Four investors, four companies, and where each position stands today.
In 2024 the only other route into SpaceX was an employee badge. He took a piece of the block we held — same round, same price as the institutions in it. It was realized when the company reached a public market, returning over 300%. The exception, not the rule.
She came in mid-2025 and has done nothing since. It is marked more than 150% above what she paid — a paper mark set by a later funding round, not money paid to anyone. Still private, still illiquid, nothing realized until an exit.
He came in at a $6 billion valuation. Weeks later Cohere announced a round at $20 billion. Same shares, same terms — what changed is the price the next investor pays to sit where he already sits. That cannot be planned for, and nobody should expect it to repeat.
Jeff Bezos’s new AI company, entered at $41 billion while OpenAI and Anthropic sit past a trillion — on the same terms, at the same valuation, as JPMorgan and BlackRock. We buy the block; you take a piece of ours.
*Previous results do not indicate future performance, and nothing above is a guarantee of any return. These are individual positions chosen as examples. They are not a representative sample of all positions we have taken, and not every position has appreciated — some investors have lost money. Except where a position is marked realized, every figure shown is an unrealized paper mark set by a company’s most recent private funding round, not money that has been paid to anyone. A private position can be marked down as easily as up, cannot be sold at will, and can lose its entire value before any exit occurs. A rise in a company’s valuation is not the same as a return to an investor. No listing, acquisition or exit is promised or implied. Investor names withheld and stories shared with permission; no compensation was paid for any of them. Company names are used to identify positions held and do not imply any affiliation with or endorsement by those companies or by any other investor named.
No ticker. A private company is repriced only when it raises — so here is the valuation at each round, and the point our investors bought in.
Still private.
HeldStill private.
HeldStill private.
ListedListed on Nasdaq, June 2026 — the exception, not the rule.
Each line plots the company’s valuation as reported by the press at its funding rounds, tender offers and secondary sales — not a share price, and, other than SpaceX after June 2026, not a traded market. The line moves only when a round is priced, which is why it is drawn as straight runs between marks rather than as a daily tape. The ringed point is the valuation at which our investors entered; it is our own record rather than a published figure, and it did not always coincide with a priced round. These are four positions chosen as examples. They are not a representative sample of the positions we have taken, and not every position has appreciated — some investors have lost money. A rise in a company’s valuation is not a return to an investor: except where a position is marked as listed, nothing shown here has been sold or paid out, the marks are unrealized, and a private position can be marked down as easily as up, cannot be sold at will, and can lose its entire value before any exit occurs. No listing, acquisition or exit is promised or implied, and being able to enter one of these companies in the past does not mean we have room in it now. Company names identify positions held and imply no affiliation with or endorsement by those companies.
Companies stay private for a decade now. The growth that used to belong to the public market happens before the ticker exists.
You buy at the valuation of the round we entered, in companies that may not list for years. By then, that price is history.
Same round, same price, same terms as the institution beside us in the block. Not a feeder fund, not a synthetic note.
They are allocated privately, in seven-figure blocks, to firms already on the cap table.
We have already taken the block, so your allocation goes to work as soon as the wire lands.
Held to a liquidity event — IPO or acquisition — typically 18 to 36 months from our entry. None is promised.
A public share is repriced every afternoon; a private position only when it raises. Different asset, different risk: no liquidity, and a real possibility of total loss.
Because we take the whole block first, $25,000 buys into rounds otherwise sold in seven-figure pieces.
Our capital goes in before a single investor dollar. We do not offer what we would not hold.
Late-stage positions in the categories where the private round, not the listing, is where the growth happens.
Capital-intensive, private through the build-out, listing once the contracts are in hand.
Foundation models and the companies building them — the most heavily funded private category of the last three years.
Therapeutics and platform biology, where value inflects at trial data, not at a listing.
The rails moving money between businesses — private far longer than any comparable public cohort.
Machines that run without a person in the loop: long build cycles, then contracted revenue.
Networks and protocols replacing the current stack, funded privately years before any of it is public.
Which of these we have room in changes month to month. The consultation covers each open name, in writing.
First-time investors, and ones who have been here for years.
Eleven years accredited, and not once was I shown a private round. First consultation, I was reading the memo on a company I had only seen in the news.
I assumed the door started at a million dollars. Twenty-five thousand put me in the same round, at the same price, as the institution beside me.
Fifteen minutes and no pitch. They showed me what they had room in, what they paid for it, and what I would be signing. Nobody chased me.
What I did not expect is how quiet it is. No ticker to watch. An update when the company raises, and otherwise you let it sit.
Statements from current investors, used with permission and shortened for length; names abbreviated at their request. No compensation was paid for any statement. One investor’s experience does not predict another’s, and no return, listing or exit is promised.
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