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Investing in
Businesses
That Change
the World
Investment opportunity
Future Fund Advisors LLC, “the Company,” launched in 2021 and is the parent company of The Future Fund LLC, the registered SEC advisor. We invest in businesses that can change the world.
Our partners believe that now is an opportune time to grow our business and take advantage of the significant correction in growth stocks. We plan to expand the Company into new strategies that will take advantage of two keys areas of growth in the asset management landscape over the next several years: ETFs and hedged strategies.
Investing in our Company provides you with the potential to participate in the early stages of a multi-product investment management firm whose goal is to reach at least $1B in AUM within five years.
We have an optimistic outlook and believe we can be successful for our investors and clients:
Invest along with a seasoned team of portfolio managers with more than 50 years of combined experience.
Partners have unique blend of investment and operational expertise.
Opportunity in growth stocks is favorable given the recent inflation scare.
Continued volatility will increase demand for hedged strategies.
High conviction, research-driven investment strategy with the ability to identify inflection points in a company’s growth trajectory, supported by megatrend themes.
The Exchange Traded Fund (ETF) asset class is ripe for active management strategies — both long only and hedged.
Potential liquidity event within five-year period.
overview
The Future Fund LLC is a SEC Registered Investment Advisor founded in 2021 managing investment portfolios on companies with secular growth opportunities in the global market.
Focused on leading
secular growth opportunities
We manage concentrated, high-conviction secular growth portfolios for clients in both long-only and hedged-equity structures.
Our strategy is focused on long-term trends in the marketplace that we believe have not been fully recognized by investors.
On the long side of the market, we invest in companies that we believe have the strategy, products, and proactive culture to exploit these long-term trends.
On the short side of the market, we invest in companies that we believe are at a strategic disadvantage in their markets.
Discovering uncaptured
equity value
We believe transformative companies will displace legacy industry incumbents in several key sectors, building strong brand recognition and first-mover advantages, while increasing market share.
The threat to existing businesses is high and the long- term opportunities for companies and investors participating in this change will lead to significant value creation.
The Future Fund LLC was launched in 2021 with the purpose of investing in businesses that can change the world. Our founders, Gary Black, managing partner, and David Kalis, CFA, partner, have combined experience of more than 50 years. Gary and David began working together in 2013, both specializing in growth stock investing based on fundamental research. With career foundations as analysts, they employ deep fundamental research and modeling to select catalyst-driven secular growth candidates for client portfolios.
Their shared history and prior successes at investment management firms allow them to come to consensus quickly, making investment decisions targeted to benefit clients. Both strongly believe in active management, proprietary research, and high conviction strategies that are not tied to benchmarks.
The Partnership Opportunity
Through a series of initiatives and infrastructure expansion, The Future Fund LLC is on track to grow assets to $1 billion in five years. Staying true to our investment process, we will leverage our research expertise and proprietary approach to growth stock investing to introduce new products, such as a Long/Short Exchange Traded Fund (ETF), Long/Short Hedge Funds both institutional and retail) and a Long Only Growth separately managed account SMA platform to complement our existing Covered Call Strategy and Active Growth ETF (FFND).
our approach
OUR APPROACH: IDENTIFYING DISRUPTIVE INNOVATION
Over time, we believe there are several secular megatrends changing our world. These are trends that we expect to unfold over a multi-year period. They are unaffected by short-term changes in the business cycle and generally manifest themselves globally.
These shifting trends can cause companies to build new disruptive technologies and products and use their competitive and intellectual advantages to take share from industry incumbents who fail to respond to these changes. By identifying these secular megatrends in advance, we invest in companies we believe are best able to exploit them, develop and market new disruptive products that are superior to industry incumbents, and take market share.
MEGATRENDS DRIVE OPPORTUNITY FOR OUR INVESTORS
Secular megatrends are a source of innovation and disruptive opportunity. As we invest in companies that are able to capitalize on these megatrends, investors have the potential to profit from long-term trends that may benefit the world we live in, like green energy, safer vehicles, more sophisticated medical innovations, and products to make our lives safer, healthier and more productive.
At The Future Fund, we look for businesses with the strategy, infrastructure, and execution skills to exploit these megatrends to drive valuations and offer the potential to help us deliver superior risk-adjusted returns for our clients.
OUR INVESTMENT PROCESS
Our investment process starts with identification of secular megatrends, anticipating that they will provide strong tailwinds for those companies best prepared to exploit these trends.
Taking a 360-degree view of companies with our research, we believe can best leverage these megatrends. We examine the company’s strategy, competitors, suppliers, and customers to evaluate overall total addressable market potential. We build a five-year forecast of volumes, pricing, margins, earnings and cash flow, and use those forecasts to determine intrinsic values that are discounted to the present and compared to the existing stock price. In or long only portfolios, we then select a concentrated portfolio of 35-45 companies we think are best able to leverage the secular megatrends we’ve identified with the potential to significantly grow revenue and earnings over the next five years, and which sell at prices well below their fair value. In our hedged strategies, we combine our deep research to construct a portfolio that can capture our best long and short ideas on a risk adjusted basis.
Finally, we adhere to a disciplined portfolio management process where we will modify or exit a name if it reaches our price target, if our investment thesis changes, if expectations get too high relative to our own estimates, or if the company’s strategy changes.
Our world is constantly evolving, and innovation and disruption continue to drive opportunity. By identifying key secular megatrends, investors have the opportunity to change the world while reaping the potential benefits of those changes.
Terms of the Offering
$5,000,000
Minimum Investment: $10,000 (1,000 Units)
The Company is offering a maximum of $5,000,000 Non-Voting Membership Units at a price of $10 per Unit. Upon completion of the Offering 500,000 Membership Units will be issued.
Except as prohibited by the Act, the Company may make distributions of cash or other Property to the Members in accordance with their Percentage Interests, in amounts and at such times as determined by the Managers in their sole discretion; provided, however, in making distributions, the Company shall first make distributions to the Members pro rata until all of the unreturned Capital Contributions are reduced to zero. For the avoidance of doubt, such amounts shall include the Initial Contributions. Any return of Capital Contributions shall be made on a pro rata basis.
Management Team
The Company is currently managed by seasoned business and sector professionals dedicated to the success of the Company and efficient execution of its planned operations.
Gary Black
Managing Partner, The Future Fund LLC
Gary Black
Gary Black is the managing partner and co-founder of The Future Fund LLC, an SEC registered investment advisor focused on investing in growth equities of companies that are changing the world. Gary has extensive experience spanning nearly 30 years in top management positions at some of the most well-respected global investment management firms.
As CEO of Aegon Asset Management, he oversaw $120 billion in assets, representing a third of Aegon´s assets and 50 percent of its profits. During his tenure, he created new proprietary investment strategies, expanded the real assets platform, leveraged the company´s solutions-based offerings, and directed the build-out of an ESG fixed income platform.
In 2009, Gary launched and managed Black Capital, a top-performing fundamental-based global long/short equity firm with an eight-person investment team, raising $100 million AUM over three years. The firm was acquired by Calamos Investments in 2012, where Gary became Global Co-Chief Investment Officer. There, he launched two additional two long/short equity strategies and served on the Calamos Board of Directors.
At Janus Capital Group, Gary was promoted to CEO, CIO and president after turning around investment performance and growing net flows to +$2 billion in 2008 from -$29 billion in 2004 after the tech bubble burst, market timing changes and the departure of Janus founder and CEO. Under his guidance, the Janus Research Fund and Janus Triton Fund were launched. He also served on the Janus Board of Directors.
Earlier in his career, he was named CIO at Goldman Sachs for the U.S. Asset Management Group and named to the firm´s Partnership Committee. His investment industry experience began at Sanford Bernstein in 1992 as Senior Research Analyst. Gary was rated #1 analyst in his sector by Institutional Investor All America Research Team for six consecutive years from 1993-1998, including his first year in the industry. At Bernstein, within five years he was promoted from Senior Research Analyst to Principal and then Shareholder. He later ran the firm’s global institutional business. In 2001, Bernstein was acquired by Alliance Capital.
Gary was awarded an M.B.A. from Harvard Business School and earned his B.S. in economics from The Wharton School of the University of Pennsylvania.
Gary has been featured in Barron´s and is frequently called upon by the financial press for his insights into the equity markets.
David P. Kalis, CFA
Partner, The Future Fund LLC
David P. Kalls
David Kalis is the co-founder of The Future Fund LLC, an SEC registered investment advisor focused on investing in growth equities of companies that will be instrumental in changing the world.
In 2017, David founded Curvature Capital Management, LLC, a long/short equity hedge partnership focused on catalyst-driven global equities. Performance for the firm ranked in the top decile of long/short equity hedge funds. In early 2021, he rejoined Gary Black to found The Future Fund. The two had previously worked side-by-side at Calamos Investments.
At Calamos, David headed the Growth Equity Strategies and was a co-portfolio manager. His team managed $6 billion in assets in mutual funds, institutional and separately managed strategies. While there, David restructured several strategies, including changes in philosophy, process, and personnel. As a result, the small-mid cap (SMID) growth strategy ranked in the top decile fund of performance among its peers during David´s tenure as lead manager. As part of his responsibilities, he managed complex relationships between clients, the public company board and the mutual fund board.
An entrepreneur, David founded and managed another long/short hedge fund partnership, Charis Capital Management LLC, focused on SMID-cap equities. This investment strategy was designed to exploit the inefficiencies of the SMID market. His performance ranked in the top decile of equity long/short equity hedge funds. Similarly, during his time at Northern Trust Asset Management (NTAM) in the role of SVP-Group Head of Small/MidCap Institutional Equities, the NTAM active equites mutual fund suite reached the top 10% in its peer group, up from the bottom 10% before he took over. The Mid Cap Growth strategy also achieved top quartile performance.
Earlier in his career, he joined Segall Bryant & Hamill at its founding. He served as a co-manager for both multi-cap and SMID-cap strategies, director of research, and member of the management group. There he was instrumental in developing the firm´s core investment philosophy and process, ushering the firm through a growth phase from $1.2 billion to $5 billion in assets under management. He established and managed the mid cap growth strategy growing it to more than $400 million AUM.
David is a Chartered Financial Analyst, awarded in 1994, and a member of the CFA Society of Chicago. He received a BA in Economics from the University of Michigan.
David has been featured in a wide range of financial publications and is frequently called upon by the press for his expertise.
Advisory Board
Richard
Bindler
Richard Bindler
Richard is the Managing Partner of BMS de-SPAC Opportunity Fund, an $11 million fund applying fundamental research to this badly beaten down and misunderstood universe.
Richard is also the Senior Managing Partner of Bindler Investment Group (BIG), which he founded in 2016. BIG invests in early-stage companies where strategic capital is needed, and opportunistically in real estate. To date, BIG has invested in more than 40 opportunities.
He is an Advisory Board member for Cresset Capital, a $30 billion boutique family office with locations across the United States.
For nearly 30 years, Richard rose through the ranks at Bernstein Private Wealth Management. Here he held positions as a Financial Advisor, Managing Director, Senior Managing Director, and Chief Client Officer where he managed all client-facing personnel nationwide.
Richard is the Chair of the Chicago Advisory Board for Cahn Fellows, a position he has held since 2019. Cahn Fellows helps identify and develop top performing public school principals.
He earned an MBA, specializing in finance and marketing, from Boston University and a BS in business from the University of Florida.
Ross
Gerber
Ross Gerber
Ross is the Co-Founder, President and CEO of Gerber Kawasaki Wealth and Investment Management with $2.2B under management and serving 10,000 clients.
Ross oversees Gerber Kawasaki's corporate and investment management operations as well as serves individual clients. He has become one of the most influential investors on social and in traditional media. His investment ideas and advice have made him a regular in global business news as well on many of the most popular investment podcasts.
The firm is focused on technology, clean energy and transportation, consumer discretionary, media, and entertainment companies. Gerber Kawasaki (GK) is a leader in Fintech innovation leveraging technology and social media. It was listed in 2020 as one of the fastest-growing companies in Los Angeles according to the LABJ.
GK is also a leader in providing investment advice for the younger generation through its Get Invested program. GK is the first major RIA to partner with Gemini and began offering Digital Assets to clients in April 2021. Ross is an expert in online marketing and social media as well as a co-developer of the company’s app for IOS, my-moneypage.
In 2008, the financial crisis caused the collapse of several major financial institutions and the government bailout of others, challenging the existing state of affairs within the financial industry. Navigating these trying times, Ross understood the importance of focusing on the client's best interest utilizing a modern and unbiased approach to serving the client community. In 2010, Ross and his business partner, Danilo Kawasaki, felt it was the opportune time to start their firm, Gerber Kawasaki Inc., aligned with this client-centric mission.
Early in his career, Ross joined an independent investment firm affiliated with SunAmerica Securities. In 1998, at the age of 27, he received the Archon and Million Dollar Branch Award and was the youngest million-dollar branch manager in SunAmerica's history.
Ross received his BA in Communications from the Annenberg School at the University of Pennsylvania concentrating in Business Law at the Wharton School of Business, graduating class of 1993. Ross also received a second concentration in Classical Music Studies at the University of Pennsylvania and attended the Grove School of Music.
He is on the executive board and a past president of the Guardians of the Jewish Home in Los Angeles.
Alexandra
Merz
Alexandra Merz
After completing international studies in London and Germany, Alexandra’s professional career in Finance began in 1991 in the Parisian trading room of Deutsche Bank. In 1992, she was promoted in 1992 to fund manager, responsible for the money market, bond and equity products.
From 1994 to 1997, she was the key advisor for Commerzbank, managing its two largest European investment funds. She joined Moody’s Investor Services in 1998 as Vice President/Senior Credit Officer responsible for all mutual fund ratings in Continental Europe. There she developed a methodology for open-ended real estate fund ratings.
In 2004, Alexandra co-founded and managed Scope OEF GmbH, a firm that specialized in the analysis of open-ended funds, before founding additional companies in the South of France and the USA. In 2014 she established L&F Investor Services in Santa Barbara, California, providing business advice to investors worldwide.
Jeffrey
Yu, MD
Jeffrey Yu, MD
Dr. Jeffrey Yu is an entrepreneur and radiologist. He founded Kineticor, a biometric intelligence and medical device company dedicated to improving the quality of imaging where he still serves as Chief Executive Officer.He is also founder, Chief Medical Officer and past Chief Technology Officer (CTO) of OneMedNet, a medical image transfer software company. During his career, he held the position of CTO of Queen’s Medical Center and was a member of the medical advisory boards at Cisco Systems and Change Healthcare.
Jeffrey conducted magnetic resonance research at the Lucas Center Stanford University and is Board Certified in Radiology and Nuclear Medicine. He received his B.S. from the University of California Berkeley and M.D. from Wake Forest School of Medicine, completing a radiology residency and nuclear medicine fellowship at the Mallinckrodt Institute at Washington University.