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All persons using the Tephra Digital, LLC (“Tephra Digital”) website (“Site”) expressly agree to the foregoing disclaimer as a pre-condition to using this Site for any purpose whatsoever. The materials on the Site including, without limitation, news articles, informational materials and all other Tephra Digital specific information, have been prepared for informational purposes only and do not constitute financial, legal, tax or any other advice. All information contained herein is provided “as is” and Tephra Digital expressly disclaims making any express or implied warranties with respect to the fitness of the information contained herein for any particular usage, its merchantability or its application or purpose. Prior to making any investment or hiring any investment manager you should consult with a professional financial advisor, legal and tax advisor to assist in due diligence as may be appropriate and determining the appropriateness of the risk associated with a particular investment. In no event shall Tephra Digital be responsible or liable for the correctness of any such material or for any damage or lost opportunities resulting from use of this data. Portions of the Site may be password-protected and may be accessed only by users who have been issued passwords by an authorized representative of Tephra Digital. No one may obtain or attempt to obtain unauthorized access to such parts of the Site, or to any other protected materials or information, through any means not intentionally made available by Tephra Digital for users’ specific use.

By accessing the password-protected area of this Site, you agree to immediately contact Tephra Digital if there is any change in your status as an “accredited investor” under Regulation D promulgated under Securities Act of 1933. For individuals such changes may include, for example, a registered user’s net worth declining below $1,000,000, an expectation that income for the next twelve months may total less than $200,000, or an expectation that the registered user’s combined income with his or her spouse may total less than $300,000 in the next twelve months.  All registered users, including individuals and entities, should communicate with their legal advisors if they believe that their status as an accredited investor has changed. If a registered user’s status as an accredited investor has changed, such registered user agrees to immediately notify Tephra Digital of such change. If any provision herein is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect. 

This Site and the information included herein is for general information purposes only. Nothing in this Site may be considered as an offer or solicitation to purchase or sell securities, futures, or other financial products or instruments, including any interest in any investment fund sponsored or managed by Tephra Digital or any of its affiliates or any investment advisory services offered by Tephra Digital or its affiliates. Any such offer or solicitation can and will be made only by means of the applicable confidential offering memorandum of each such investment fund or other applicable document, only in jurisdictions in which such an offer would be lawful and only to individuals who meet the investor suitability and sophistication requirements of as determined from time to time by Tephra Digital in its sole and absolute discretion. If any provision herein is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect. 

Users of the Site may view, download and print information and materials on this Site for personal and internal business use provided that all hard copies contain all copyright and other applicable notices. Users may not reproduce, translate, modify, copy, alter in any way, distribute, sell, resell, transmit, transfer, license, assign or publish any information obtained from this Site. Registered users shall not use this Site at any time for any purpose that is unlawful or prohibited and shall comply with any applicable local, state, national or international laws or regulations when using this Site.


Tephra Digital and the logos and marks included on the Site that identify services and products are proprietary materials. The use of such terms and logos and marks without the express written consent of Tephra Digital is strictly prohibited. Copyright in the pages and in the screens of the Site, and in the information and material therein, is proprietary material owned by Tephra Digital unless otherwise indicated. The unauthorized use of any material on the Site may violate numerous statutes, regulations, and laws, including, but not limited to, copyright, trademark, trade secret or patent laws.


Tephra Digital reserves the right to terminate, at any time, any registered user’s account (as well as access to the latter’s Site), without giving notice or a reason for such termination to the user.

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