Question 1

Hey there, I run a community round focused venture fund and have a few questions for you that I'd love to ask 1 on 1 if possible. What's the best way to reach you before end of the community round for a zoom meeting?

Accepted Answer

Hi Tristin, That sounds great. Please email us at hello@oursphere.org. Best, Alex

Question 2

With a very low 0.07% expense ratio for the available-to-the-public Sphere 500 Climate Fund – assuming that's also comparable for your 401(k) offerings, if that's correct – what size of assets under management do you estimate is required for Sphere to be cashflow positive? (Mo...

Accepted Answer

Great question Aron. We aren't allowed to discuss publicly our plans for future products (per SEC rules), but the level of assets under management required to be cashflow positive decreases when we launch additional products. We're estimating it's $300M. Getting on Fidelity in the next couple months will play a big part in getting us there. In the meantime, our assets have grown to over $17 million in just the past month.

Question 3

Was today's Zoom session recorded? I was unable to attend and would appreciate a link to the recording, if possible.

Accepted Answer

Hi Allen, It wasn't recorded, but we will host another one soon. We'll email you when it's scheduled.

Question 4

This Fund makes a ton of sense! Long term, if things go well, what would be possible opportunities for investors to see a return on investment and what would be a potential timeline? Thank you!

Accepted Answer

We plan to do a public offering in 5-10 years, providing early investors with an opportunity to exit with a good return on investment. Our goal is to at least 100x your investment in that time frame.

Question 5

1) Who are your competitors in this space, and what is your competitive advantage/moat? 2) What's the exit strategy? (E.g., is it going public a la Janus Henderson, selling yourself to another fund family, what?)

Accepted Answer

1) Competitors: We think about our competitors in two categories: (1) large asset management firms and (2) climate-friendly asset management firms. Large firms have tried to offer climate-friendly products and failed, destroying their credibility when it comes to climate-friendly investing in the process. Vanguard joined the Net Zero Asset Managers Alliance and then pulled out once there was some political pressure in Texas. BlackRock told its shareholders it would start pressuring companies ...

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