PRLVX

About PRLVX

The Private Shares Fund Class L Shares is a closed-end interval fund focused on providing investors with access to private, late-stage, venture-backed growth companies. Its primary aim is to offer exposure to private market opportunities typically reserved for institutional investors and high-net-worth individuals. The fund invests directly in private companies and may also participate in private investments in public equity (PIPEs), particularly where the issuer is a special purpose acquisition company (SPAC), as well as in profit-sharing agreements. Featuring a minimum investment of $2,500 for Class L Shares, the fund emphasizes long-term capital appreciation but comes with a high risk profile, reflecting the illiquid and complex nature of private securities. Shares are not publicly traded and liquidity is limited; investors may only redeem up to 5% of the fund’s outstanding shares at net asset value each quarter through a repurchase program. The fund’s valuation process relies on fair value procedures administered by the adviser, given the absence of public market pricing for most holdings. The Private Shares Fund plays a significant role in democratizing private market access and is mainly suited for investors able to withstand considerable risk and illiquidity.