LP update
Performance, portfolio highlights, and climate progress.
LP update
Performance, portfolio highlights, and climate progress.
Where we stand
Backed by operators who underwrite the long game.
Marks stay editable in PPTX — text tiles when assets are private.
Lead LP
Growth
Family office
Strategic
Three names driving the quarter
Vanta Health
Digital health — expanded payer contracts; ARR +34% YoY.
Meridian Freight
Logistics — new Europe corridor; gross margin +1.2pp.
Lumen AI
Enterprise software — first $10M ARR quarter.
Show, don't pad
Asymmetry beats another identical third column.
Clear north star
One decisive story beat — not a wall of equal tiles.
Capital deployment
| Vintage | Deployed |
|---|---|
| 2023 | 100% |
| 2024 | 88% |
| 2025 | 52% |
Progress this quarter
Scope 3 tooling
Corval Climate deployed across 3 portfolio cos — no more manual emissions spreadsheets.
TCFD for Fund II
Disclosure framework adopted; Deloitte completed climate scenario analysis.
GP ops
Carbon-neutral via South Pole offsets. Portfolio on a −34% emissions glide path.
Risks we are watching
Enterprise AI budgets still expanding. Healthcare reimbursement clarity improving. Freight rates stabilizing in EU.
Later-stage valuation discipline. Cyber insurance premiums rising. Rate path uncertainty into H2.
Since inception
Questions welcome.
lps@solstice.example · Full packet in the data room