Vaulting Ventures

Puerto Rico's Act 60 (formerly Acts 20 and 22) offers qualified resident investors a 0% tax rate on certain capital gains and a 4% corporate tax rate on eligible services. For a private equity manager, this can materially alter net returns if the general partner entity and its principals qualify. The effect on limited partners depends on the fund's own domicile and the LP's tax jurisdiction — it is not automatically passed through to outside investors.

The firm's stated strategy covers early-stage seed, start-up, and growth equity. In practice, running a seed program alongside growth equity requires separate check-size bands, different risk frameworks, and often separate decision-makers. Without portfolio examples, it is unclear whether this is a single fund covering the full continuum or a family of vehicles each targeting a specific stage band.