onecaponecap

For qualified investors

Capital, on a single rule.

Flow 2026 opens to qualifying outside capital following live deployment in Q3 2026. The process, in plain terms.

Talk to the desk

Deck is a branded PDF — name, email, accreditation confirmation required.

Who can invest

Qualified investors only.

Eligibility
Accredited investors only — US (Reg D) or EU equivalent
Minimum
$250,000 initial commitment
Lock-up
12 months from first capital call
Liquidity
Quarterly redemptions after lock-up, 60-day notice
Management fee
1.5% per annum on NAV
Performance fee
15% above 6% soft hurdle, with high-water mark
Fee structure
Soft hurdle — fee only on returns above the hurdle, then catch-up
Currency
USD share class. EUR class on request, FX-hedged.

Process

Four steps. About a month, end to end.

Step 01

Request the deck

Use the form below. We respond within one business day with a 35-page strategy deck and a calendar link.

Step 02

30-min intro call

A direct conversation with the desk. No sales team, no intermediaries. We answer the questions that matter.

Step 03

Accreditation + KYC

Digital onboarding, ~3 business days. Standard accreditation evidence (US) or sophisticated-investor declaration (EU).

Step 04

Subscription docs + first call

Final docs are signed digitally. The first capital call is funded the next quarter end. No surprises after the line is in.

What we send

The materials, in order.

Strategy deck (PDF, 35 pages)

The full process — twelve layers, four streams, risk frame, capacity. The deck stands on its own; you should not need a guide to read it.

Risk frame document

Per-ticket caps, book caps, drawdown gates, patience drawdown, the conditions under which we pause. Two pages, written for an allocator.

Audited internal track since 2024-Q4

Limited disclosure under NDA after the intro call. We are not in the habit of putting numbers on the public internet.

What we ask of you

Three things, plainly.

Capital you're comfortable not touching for 12 months

The lock-up is real. We do not gate. We do not gate quietly. We do not gate when it would help us. The price of that is a fixed 12-month commitment.

Patience for the chorus

Some quarters we make no new positions. The fund is allowed to be flat. If a flat quarter is going to make you uncomfortable, this is not the right vehicle.

An NDA before audited numbers

Standard, mutual, two-page NDA. We share what we have once it is signed, including the realised track on the internal book.

Fees · Calculator

Estimate your fees.

Capital$500,000
$250,000$5,000,000
Return scenario (1 yr)
Estimate (1 yr)
Capital invested$500,000
Subscription fee (5% one-time)- $25,000
Invested base$475,000
Gross return (scenario)$95,000
Performance fee (30% above HWM, quarterly)- $28,500
Net return after fees$66,500
Net IRR13.30%

Indicative only — not an offer or a quote. Actual fees vary by share class and side-letter terms. Speak to the desk for binding figures.

FAQ

The questions allocators ask first.

What is the minimum?
€100,000 initial subscription. €25,000 incremental. Quarterly subscription windows aligned with HWM crystallisation.
Lockup?
No long lockup. Quarterly redemption windows with 30-day notice.
Fees?
0% management fee. 30% performance fee, applied only above the high-water mark, crystallised quarterly. 5% one-time entry fee on subscription. We earn when you do.
Who can invest?
Qualified / professional investors resident in EU/EEA jurisdictions only. Estonian limited partnership operating under the small-AIFM regime.
How is performance reported?
Monthly NAV statements, quarterly investor letters, annual audited accounts.
How does the twelve-layer process work?
Each candidate is scored across twelve independent layers — insider activity, 13D/13G activism, 13F institutional flows, catalyst calendar, post-earnings drift, federal contracts, FDA / regulatory, COT positioning, macro regime, volume profile, smart-money flow, technical confluence — fused into a single 0–100 confluence score. Capital moves only above threshold.
What is the volatility target?
10–14% annualised on Stream 01 (Confluence Equities). Each stream is sized to a different vol envelope.
Can I redeem early?
Quarterly liquidity with 30-day notice. Settlement within 14 business days of quarter-end.
How do you protect the downside?
Position-level trailing stops, profit locks, concurrency caps, sector and stream limits, daily max-drawdown circuit breakers, and the Risk Governor — an automated demote layer that cuts size when realised drawdown exceeds 2× backtest expectation.
What is the track record?
Flow 2026 is currently paper-traded across all four streams. Live capital deployment is targeted for Q3 2026 after a 90-day sandbox metrics review and clearance of governance gates. Walk-forward and audited summary available in the deck.

Request the deck

Start the conversation.

Or email investors@onecap.fund directly.

Want the deck right now? No call required.