Portfolio

Representative Portfolio


The profiles below represent the Fund's active preferred-equity positions. To preserve the confidentiality of the underlying companies, each holding is presented on a de-identified basis: sector, stage, instrument, and strategic rationale are described, while company names, identifying details, and performance figures are omitted. Complete, named holding detail is made available to verified accredited investors through the Fund's secure data room.

Portfolio at a Glance
Active Positions
8 preferred-equity holdings
Instrument Focus
Preferred equity, senior to common
Stage Focus
Growth stage
Sector Diversification
8 distinct verticals; no single-sector concentration
Geographic Footprint
Primarily United States; selective international (Asia, Canada)
Investor Eligibility
506(c) — accredited investors only
Active Holdings

Holdings


01
Logistics & Materials Science

Advanced-materials products and asset-leasing platform

Growth Stage Senior to Common Cumulative Preferred
Instrument
Series A Preferred
Investment Size
$30M
Geography
North America entity; Asia operations
Vintage
2026

Materials-science and asset-leasing platform positioned in one of the fastest-growing major logistics markets, scaling a recurring-revenue leasing model alongside in-house production.

End Market Supply-chain and logistics customers in a high-growth emerging market.
02
Medical Devices

Bioresorbable drug-eluting implant-protection technology

Early/Clinical Stage Senior to Common Cumulative Preferred
Instrument
Cumulative Preferred Equity
Investment Size
$10M
Geography
United States
Vintage
2026

Medical device company developing a bioresorbable, drug-eluting antibacterial technology that protects implantable devices from infection, with a platform extending across multiple surgical indications.

End Market Hospitals, surgeons, and device manufacturers seeking infection protection for implantable medical devices.
03
Sustainable Infrastructure

Distributed energy infrastructure and digital-asset mining

Growth Stage Senior to Common Cumulative Preferred
Instrument
Series B Preferred
Investment Size
$5M
Geography
United States (Southeast)
Vintage
2026

Infrastructure operator building distributed energy and compute capacity tied to the electrification and digital-infrastructure cycle.

End Market Commercial and infrastructure customers in the sustainable-energy and distributed-compute space.
04
Digital Health & Analytics

Health data analytics and applied AI

Growth Stage Senior to Common Cumulative Preferred
Instrument
Preferred Equity
Investment Size
Under $5M
Geography
United States
Vintage
2026

Health-data and analytics company applying AI to large, multi-source datasets, serving as a data partner across adjacent sectors.

End Market Healthcare, research, and enterprise users of large-scale health and sensor datasets.
05
PropTech / AdTech

Property-technology and advertiser-funded engagement

Growth Stage Senior to Common Cumulative Preferred
Instrument
Series A Preferred
Investment Size
$20M
Geography
United States (Southeast)
Vintage
2026

Technology platform at the intersection of property technology and advertiser-funded consumer engagement, addressing a large residential market.

End Market Residential renters and multifamily property owners and managers.
06
Specialty Automotive

Specialty automotive engineering and aftermarket

Growth Stage Senior to Common Cumulative Preferred
Instrument
Series A Preferred
Investment Size
$5M
Geography
United States (West)
Vintage
2026

Vertically integrated specialty automotive operator spanning service, builds, and in-house component manufacturing, with demand outpacing capacity.

End Market Performance and specialty automotive customers and motorsport programs.
07
Independent Media

Independent media and content production

Growth Stage Senior to Common Cumulative Preferred
Instrument
Series B Preferred
Investment Size
$20M
Geography
United States
Vintage
2026

Independent media and content company building a slate and distribution footprint with structured downside protection for capital.

End Market Media distribution channels and content audiences.
08
Aerospace & Rotorcraft

Aerospace and rotorcraft training and services

Growth Stage Senior to Common Terms Finalizing
Instrument
Preferred Equity (terms in finalization)
Investment Size
$10M
Geography
North America (Canada)
Vintage
2026

Aerospace and rotorcraft training and services operator addressing specialized pilot and crew training demand.

End Market Aviation operators and rotorcraft training customers.
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For inquiries about Equation Fund I, LLC, please contact us by email.

Email
info@equationfund.com
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