Capital Partners
Trade Finance Fund Managers
GPs running trade finance credit funds, emerging managers raising first institutional vehicles, and family offices building captive origination programs. Few have broken above $500M AUM despite years of institutional interest in the asset class — not because of deal flow, but because the distribution and benchmark infrastructure does not exist. Caviar provides operational parity with incumbents and a benchmark credibility flywheel.
Key figures
How it works
From verified track record to institutional product.
List in the directory; raise without the placement agent
Capital Introduction surfaces verified track records to credentialed LPs — DFIs, family offices, sovereign wealth, institutional credit. Caviar charges a flat annual subscription, not 1–2% of capital raised. The directory replaces relationship-gated distribution.
NAV history, distributions, asset composition by tier, and LP count drawn from FundRegistry. The GP cannot edit them. Three months of NAV history qualifies a fund for listing.
LPs filter by strategy, geography, tier composition, and target return. Anonymous EOIs carry credential tier and indicative size without forcing identity disclosure.
You become the benchmark
Your fund's portfolio is the dataset that calculates the relevant CTFYI sub-index. Your LPs verify pool composition via ZK proof independently of your fund report. When the next LP asks why there is no benchmark, the answer is now that you are the benchmark.
Run securitizations monthly against origination flow, not as a one-off. ZK pool eligibility and onchain waterfall replace the trust-administration overhead that priced sub-$500M funds out of the market.
Issue tokenized fund interests; list on Private DEX for secondary liquidity. LPs get redemption optionality without changing the fund's self-liquidating instrument profile.
Capabilities
The fund operations stack incumbents took years to build.
Capital Introduction directory
GP subscription replaces placement agent retainer + 1–2% of raise. LPs include DFIs, family offices with EM mandates, and institutional credit teams specifically seeking trade finance.
CTFYI contribution + sub-index inclusion
Your portfolio data contributes to the benchmark. The fund appears in the CTFYI sub-index before AUM is large enough to justify a Bloomberg listing. Third-party benchmark credibility at no incremental cost.
Securitization-ready infrastructure
ZK pool eligibility proofs, automated waterfall execution, real-time investor reporting. Run a securitization program at $200M AUM where conventional infrastructure required $500M+.
Tokenized fund units
Issue and administer tokenized LP interests. Onchain subscription/redemption mechanics. Primary issuance at 0.5–1%; ongoing fee at 0.2–0.5% replaces fund admin and transfer agent overhead.
STCF Conduit enclaves
For family offices and emerging GPs originating natively. Compliance Vault, Sentinel, and Ledger pre-integrated. STCF enclaves can go live within weeks of onboarding.
Conventional fund vehicle
Singapore or Cayman SPV; LP legal rights and fund documentation unchanged. The onchain layer handles waterfall execution and reporting; the fund vehicle is standard.
Comparison
Traditional vs. Caviar
| Traditional | Caviar | |
|---|---|---|
| Distribution cost (per fund close) | 1–2% of raise to placement agent | $50–200K/yr flat subscription |
| LP performance verification | Self-reported NAV, GP-attested | ZK-attested, Indexer-queryable |
| Securitization at sub-$500M | 9–12 months legal + audit overhead | Repeatable monthly against flow |
| Benchmark for IC validation | No published reference | CTFYI sub-index inclusion |
Use cases
Real-world applications
Established GP, $500M AUM
Founding Partner at a 5–10 year specialist trade finance fund. Next vintage hit the IC validation wall; the fund's portfolio now contributes to CTFYI, LPs verify pools via ZK proof, and a securitization program serves the next tranche of LPs at lower blended cost than the placement agent it replaces.
Emerging GP, $80M raise in market
Former bank trade finance MD raising first institutional fund. Capital Introduction surfaces the fund to DFIs and family offices the GP's network does not reach. Operational parity with $1B incumbents at a fraction of the overhead. Fund close in months, not 18+ months.
Family office captive program
Family with agribusiness operations builds a captive STCF origination program. Conduit enclaves go live in weeks; Capital Introduction supports third-party LP co-investment alongside family capital. GP economics retained internally.
Become the benchmark for the asset class you already specialize in.
CTFYI inclusion, securitization-ready infrastructure, and a credentialed LP directory — without paying placement agents 1–2% of every fund close.