Portfolio Performance
Capital Deployed
−$12.1M
27 batches, 6 campaigns
Total Fee Share
$31.6M
46.5% of gross referral revenue
Net Profit
+$19.5M
Fee share minus capital deployed
Portfolio MOIC
2.61×
Fee share ÷ capital deployed
Peak Drawdown
−$10.8M
Q3–Q4 2025 (after Roundup spend)
Breakeven
Q1 2027
Net cash position turns positive
Campaign Exposure & Returns
AF
AFFF
Firefighter Foam
2.69× MOIC
Capital Out$1.77M
Fee Share In$5.39M
IRR (est.)26.5%
SettlementQ1 2026
CL
Camp Lejeune
Water Contamination
2.07× MOIC
Capital Out$2.36M
Fee Share In$4.92M
IRR (est.)17.3%
SettlementQ3 2026
LA
LACSA
LA County Sexual Abuse
3.88× MOIC
Capital Out$1.25M
Fee Share In$4.76M
IRR (est.)32.8%
SettlementQ2 2029
PA
Paraquat
Herbicide Exposure
3.67× MOIC
Capital Out$2.39M
Fee Share In$8.28M
IRR (est.)27.4%
SettlementQ1–Q2 2027
RD
Roundup
Herbicide / Non-Hodgkin's
2.17× MOIC
Capital Out$3.04M
Fee Share In$6.56M
IRR (est.)15.4%
SettlementQ3 2030
RX
Roblox
Gaming Addiction / Minors
1.37× MOIC
Capital Out$1.28M
Fee Share In$1.69M
IRR (est.)9.2%
SettlementQ3 2031
Return Profile
Funder Portfolio J-Curve — Cumulative Cash Position
MOIC vs. 2.5× Target by Campaign
Risk-Return Analysis
IRR vs. 18% Hurdle Rate by Campaign
MOIC × IRR Risk-Return Bubble