Permanent capital, held across generations.
We own businesses, real assets and verifiable digital assets, and we intend to hold them for decades. This site sets out how we think. It does not list what we own.
What we own
Businesses. Durable companies with honest accounts, sensible debt and owners who think in decades.
Real assets. Land, buildings and infrastructure that produce something people need.
Verifiable digital assets. Open networks whose supply and settlement anyone can check, held in our own custody.
How we decide
We estimate what an asset is worth from what we can inspect, and we buy only when the price leaves room for error. Then we wait.
How we work
We invest our own capital only. We do not manage money for others, give advice or raise funds.
Write to us
If you own a business and think in decades, or have something worth discussing, we would like to hear from you.