Independent · Client-funded · Zero skin in the game
Long-duration capital. Yours, specifically.
We hold a few companies for a decade or longer, funded entirely by clients. Our personal exposure is zero, which keeps the mind remarkably clear.
We hold a few companies for a decade or longer, funded entirely by clients. Our personal exposure is zero, which keeps the mind remarkably clear.
Most investment outcomes are decided by what one is able to ignore. We have arranged to be able to ignore everything. No partner capital, no personal exposure, no reason to lose sleep. Gains are shared. Losses are, in full, the client's — we simply hold the umbrella.
We write our reasoning down before we buy, and revisit it only when the facts change — never the price, and certainly never your account balance, which we check quarterly, out of politeness.
Distance from the daily weather is the only edge that does not decay. Distance from the drawdowns is the other one.
Most returns are earned by doing nothing, deliberately, for a very long time. Our fees are earned the same way, only faster.
Two percent of your assets, twenty percent of your gains, and none of your losses. Simple structures travel well.
Owned and run entirely by its founding partners — who, as a matter of discipline, invest none of their own money alongside yours. Alignment is a lovely idea. We prefer sleep.
Spent his career building the infrastructure behind live video, and learned there that the systems which matter most are the ones nobody notices. Reads balance sheets the way engineers read logs: calmly, because the server isn't his. Has never personally lost a cent with the firm, and intends to keep it that way.
Approaches markets as a long game of positioning and patience, played with other people's chips. Prefers businesses whose advantages are obvious in hindsight — a vantage point from which our clients also view most things.
Sector-agnostic in principle; in practice our understanding concentrates in a handful of areas. Our own capital concentrates in none of them, since there isn't any.
We accept outside capital, and only outside capital. Minimums are high, lock-ups are long, and the downside is entirely yours. Wire instructions are available on request. Refund instructions are not.
hello@topskycapital.comTopsky Capital invests exclusively with client capital; the partners commit none of their own. Profits are shared. Losses are borne 100% by clients, who will be informed of them promptly and in a tasteful serif. Past performance is not indicative of future results, and neither, as a rule, is current performance. Nothing on this site constitutes an offer to sell or a solicitation of an offer to buy any security.
This website is a personal, just-for-fun project. Topsky Capital is not a real investment firm, does not manage any money, and nothing here is financial advice.