Family Offices • Advisors • Verified Accredited Investors
Investing with Third Salt Venture Fund
Operator-led, asset-backed private investing designed for patient capital: preservation first, disciplined governance, and upside earned through hands-on value creation.
We underwrite reality first. We pursue undervalued or misaligned assets where operational improvement, restructuring, or strategic repositioning can materially enhance value.
Offering notice: Interests are offered under Regulation D, Rule 506(c), which permits general solicitation. Interests may be sold only to investors whose Accredited Investor status is independently verified.
Core Idea
What You Are Actually Allocating To
The Practical Promise (Not a Guarantee)
The Fund is built to do one thing well: deploy capital into situations where governance, operator accountability, and patient pacing can meaningfully influence outcomes. Third Salt Venture Fund makes structured operating placements, vs. passive exposure in private markets.
The Fund may invest across consumer products, private companies, real estate, and opportunistic strategic acquisitions, including distressed or transition-stage situations.
Dual Sleeve Logic
Third Salt is built with a two-sleeve mandate: (1) an Asset-Backed Durability sleeve focused on tangible support and downside discipline where structure and collateral influence most, and (2) an Operator-Led Value Creation sleeve where the Fund earns returns through hands-on operating work: margin improvement, controls, restructuring, and strategic repositioning.
The Fund is not required to allocate capital across any specific categories or percentages; allocations may vary based on opportunity. In plain terms: you are not underwriting a story; you are underwriting a repeatable decision process, operator bench, and governance architecture, that together codify reliably predictable venture incubation.
Who This Fits
Best fit is a family office or angel allocator who can tolerate illiquidity and hold through cycles, and who prefers governance + operator accountability over a “manager narrative.”
Third Salt is structured to exploit the value between two extremes: a blind pool where LPs give up control, and DIY direct investing where families must rely on a full in-house PE team equally skilled in sourcing, dilligence, and operations. You get decision discipline, embedded execution capacity, and centralized judgment, while participating as desired (staffing boards, sourcing, and diligence).
If you require quarterly liquidity, short-duration exits, or implied distribution schedules, this is not designed for that.
The summary below is provided for diligence convenience only and is qualified entirely by the Fund’s Private Placement Memorandum and Operating Agreement.
Item
Summary
Offering
Up to $25,000,000 of Class A Membership Interests; offered under Regulation D, Rule 506(c).
Eligibility
Verified Accredited Investors only (independent verification required; self-certification is not sufficient).
Minimum
$100,000 minimum subscription (unless otherwise approved by the Managing Members).
Capital Calls
Issued as needed; typically due within ten (10) business days of notice.
Preferred Return
10% annual preferred return (non-compounding) on unreturned capital contributions, payable prior to carried interest allocations.
Waterfall
Return of Capital → Preferred Return → Catch-Up → thereafter 70% to Class A / 30% to Class B (Managing Members).
Management Fee
2% annually (see PPM for exact basis and period definitions).
Other Fees
Acquisition fee (up to 2%), disposition fee (1.5%), development/operational fee (up to 5% as applicable), plus fund expenses.
BTC Option
BTC may be accepted at discretion; a 3% digital funds fee applies to digital asset contributions.
Term
Initial investment period of four (4) years following initial closing (extendable by one year at discretion); initial fund term of ten (10) years (extendable up to two additional one-year periods).
Liquidity
Interests are illiquid; transfers are restricted and require unanimous approval of the Managing Members; no market is expected to develop.
Reporting
Quarterly summaries, annual financial statements (may be audited or reviewed), and annual K-1s (timing depends on information from portfolio companies and third parties).
Not an offer to sell securities. Any offer is made solely by the confidential offering documents. No assurance can be given that the Fund will achieve its objectives or avoid losses.
Governance
Why This Is Not a “Blind Pool + Hope” Structure
Joint Control
The Fund is jointly managed by The Local Salsa Company, Inc. and Cascade Capital Asset Management, LLC. Major decisions require unanimous approval of both Managers.
This is intentional: it forces discipline at the decision point, not in hindsight.
Deadlock Architecture
If the Managers deadlock on a major decision, the procedure escalates through a structured path: Independent Fund Governor review first; Advisory Committee only if needed; arbitration as a last resort.
This is designed to prevent unilateral action while keeping operations moving.
Management Advisory Committee
Current Status: The Managers are establishing an Advisory Committee of up to five non-managing Class A Members (advisory only). Typical consult topics include valuation methodology, risk assessment and mitigation, as well as conflict and opportunity review.
Allocation Intuition Tools
How Preservation-First Can Still Create Upside
These sliders are educational only. They do not describe guaranteed allocations, expected returns, or future performance. They explain how different risk realities can show up inside an operator-led mandate.
Asymmetry
Downside Protection vs Upside Capture
More ProtectionMore Upside Work
Reading: Tilted toward downside protection.
Primary emphasis: real estate-supported stability, disciplined entry pricing, conservative structures, and governance constraints.
Uplift still comes from operational improvement and strategic repositioning, but pacing stays conservative.
The Fund may invest in consumer brands, distressed/transition-stage businesses, specialty F&B/niche manufacturing, real estate-backed operating companies, and special situations; allocations vary by opportunity.
Illiquidity and execution risk increase with intensity; this is why governance, diligence, and pacing matter.
The Fund’s value-creation approach can include operational restructuring, cost optimization, management changes, financial controls, margin and supply chain work, brand repositioning, and real estate optimization.
Pacing
Speed vs Patient Underwriting
FasterMore Patient
Reading: Patient underwriting bias.
Primary emphasis: diligence depth, conservative structures, and choosing situations where the Fund can influence the outcome rather than chase momentum.
This is compatible with “unicorn outcomes” only when earned through team, execution and time, not fund managers' narrative.
The Fund is not required to make distributions. Timing and amount depend on performance, liquidity, and Manager discretion.
Compliance note: This website may be used in general solicitation under Rule 506(c). Interests may be purchased only after Accredited Investor verification and completion of AML/KYC procedures.
Diligence
What Happens After You Request Allocation Consideration
Step-by-Step
1) You request allocation consideration. 2) You receive secure access instructions. 3) You complete suitability + Accredited Investor verification. 4) You review the PPM, Operating Agreement, and Subscription materials. 5) If accepted, you fund per instructions.
Verification can be completed via documents or professional verification (CPA/attorney/RIA). A third-party verification service may also be used.
Verification Submission Options
Verification materials may be submitted by secure upload (link provided after subscription) or by email to Pete Thomas at: pete@cascadecapitalassetmgt.com. A secure third-party portal such as VerifyInvestor.com may also be used.
Verification documents are treated as confidential and used solely for compliance with Rule 506(c).
Questions Before You Engage
Start with FAQ and Risk & Disclosure. If you want a direct conversation, use Contact or email a Fund Manager below.
Next Step
Request Allocation Consideration
If you are a verified Accredited Investor (or advising one) and you can tolerate illiquidity and loss risk, request allocation consideration to begin diligence.
This page is informational only and is qualified in full by the Fund’s confidential offering documents, including risk factors. No assurance can be given that the Fund will achieve its objectives or avoid losses.