Pergament Lohas Fund

The firm's known strategy focuses on direct investments—both equity and debt—in portfolio companies. There is no public record of it making fund-of-fund commitments to external managers. Its dual equity-and-debt structure is built for direct engagement with founding teams.

Most venture debt providers—such as dedicated credit funds or bank groups—do not also hold an early-stage equity position in the same company. Pergament Lohas Fund integrates both, which allows it to underwrite the full capital structure and align its interests across the equity and credit exposures rather than optimizing one at the expense of the other.

The firm targets early-stage companies that have moved past product validation and are generating recurring revenue. This is the window where venture debt becomes serviceable and equity is still priced at entry points that allow meaningful ownership stakes.