Underwriting memo

Sample, for illustration

Strategy
Receivables
Vintage
2024
Target IRR
11 to 13%
Credit ratingInvestment grade
CCC
B
BB
BBB
A
AA
AAA
Diligence
01Tail lossCVaR on quarterly returns. NAV unsmoothed.
02ManagerPeer CVaR delta by AUM, tenure, fund family.
03IlliquidityQueues, gates, stale marks, slow leverage.
04WrapperOracle, redemption path, smart contract.

Read the
underwriting,
before you
commit.

Ravariant Labs reviews the manager, the strategy, the fees, the lock ups, and the structural risks. We write a memo on every fund we list.

Better
terms,
the more you
borrow.

Every position you hold, repay, and collateralize feeds your borrower profile. Spreads tighten. Limits expand.

Borrower profileTier 02
Capital deployed
$1.4M
Repayment grade
A
Holding period
186d
Tier ladder
Up to $250K+790 bps50% LTV
$250K to $1M+625 bps55% LTV
$1M to $5M+550 bps60% LTV
$5M and slower+475 bps65% LTV
Verified Identity
Holder
Accredited Investor
ID 01-9F66-2977
Issued
Apr 2026
Scope
Indefinite
Status
Active
Issued by Rava Markets

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Onboard 90%
faster.

KYC, accreditation, and tax forms verified at signup. Every subscription, loan, and disclosure pre-fills against your identity.

01KYCSanctions, PEP, and identity screening.
02AccreditationIncome, net worth, or QP status verified.
03Tax formsW-9, W-8BEN, or W-8BEN-E on file.

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Rava Marketsmarkets

A discovery platform for underwritten private funds.

Important information

Rava Markets does not provide investment advice. Access is reserved for accredited investors and qualified purchasers. All investments involve risk, including total loss of capital. Listing is not an endorsement. The fund interest is the sole source of recovery.

© 2026 Rava Market Solutions, Inc.Delaware, US
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