Happy Thursday,
If you're receiving this for the first time, we likely had the pleasure of connecting sometime during Q1 2026. We're glad to have you in the loop.
This email is designed to share key progress updates and insights from our work. You can browse the last six years of updates here. If you'd prefer not to receive future updates, you’re welcome to unsubscribe at any time using the link at the bottom.
In this update, we'll cover the following:
Chisos Golf - launch and momentum
Chisos LLC Updates
Actively deploying capital
Athen Fund (joint effort with Crowdsurf)
Investment portfolio updates
Chisos Golf
The Launch
Earlier this month at Augusta, during Masters week, we officially launched the Chisos Golf Fund, a $25M fund backing 200 professional golfers through earnings share agreements at $50K to $150K per golfer.
Early Momentum
The response has been strong. We've secured early investor commitments and are now in active roadshow mode across the country. The thesis is resonating: professional golf has a massive talent pipeline with no institutional capital backing it, and earnings share agreements give us a clean, aligned structure to deploy into these athletes.
Where We'll Be: Roadshow Schedule
We're hitting the road hard over the next several months. If you're in any of these cities, we'd love to connect. Some events are open, some are private and intimate. Reach out if you want to join.
Know someone who'd be interested in Chisos Golf? Forward them this:
Chisos just launched a $25M golf fund backing 200 professional golfers through earnings share agreements. Think of it as early-stage investing in athletes. The team is on a national roadshow right now. If you want to learn more:
- Investment One-Pager
- ChisosGolf.com
Or just reply to this email and I'll connect you with one of the fund's Managing Partners.
Chisos LLC
Actively Deploying Capital
In Q1, we made 5 new investments, bringing our overall portfolio to 108 total investments (as of 3/31/26); 13 in Fund I, 56 in Fund II and 39 Balance Sheet investments. We currently have ~$750k in dry powder. Dry powder will be deployed into the Chisos Golf Fund, the Athen Fund (joint fund effort between Chisos and Crowdsurf), and a select few new balance sheet investments over the next few months.
Athen Fund (joint effort fund with Crowdsurf)
The Co-GP fund we previewed last quarter is taking shape. We're pairing our underwriting and structuring playbook with Crowdsurf's distribution and operational reach to do more deals, with better sourcing and less friction. Early deal flow is strong and we're firming up final structure now. If you're an accredited investor who likes the "invest in the person" approach and wants a concentrated, thesis-driven portfolio, reply and we'll share more as it launches in Q2.
Chisos Investment Portfolio Updates
Chisos LLC Balance Sheet
39 Total investments (as of 3/31/26).
5 new investments in Q1 2026:
MilkWise - Expert breastfeeding support, when you need it: insurance-covered lactation care from IBCLCs, in-home or virtual.
Median - Expert accounting with real-time clarity: a daily-close bookkeeping and financial operations platform built for startups.
Golfer: Brent Grant - A Korn Ferry Tour winner pursuing his PGA TOUR card
The Playbook - A sports performance platform built through the lens of mental health, often described as a "mental health Fitbit" for athletes and sports organizations.
pursuit - Your dedicated career team: coaches, strategists, and recruiters who put your job search on autopilot from first application through final offer.
Chisos Capital Fund II - ($2.01mm; closed August 2023)
Fund II is fully deployed with 56 investments. Some notable portfolio updates include:
Rocco Finance continues their mostly bootstrapped and efficient growth path. End of 2025 reported $1+mm of ARR. Adding to the dev and R&D team to roll out a whole new iOS and Android app with major UI/UX improvements by summer.
Companion Candles closed the year with 2x revenue growth alongside a successful capital raise. Retail distribution expanded nationwide into Sprouts and Fresh Thyme after initially launching through their local programs, with several major retail launches scheduled for later this year. Congratulations to the team on winning 'Best Emerging Amazon Brand of 2026’.
Nimbus Aerospace reported exciting progress on two fronts. First, the team achieved a major milestone, completing a ¼-scale FAA certification campaign for their hybrid aircraft. Meanwhile, the AI platform they have developed continues to receive positive feedback and requests from industry leaders.
A-Frame Venture Studio, the venture studio, continued their early launch of Mirth Water (https://drinkmirth.com). Look for the cool promotional posts on your social channels.
Chisos Capital Fund I - ($500k; closed January 2021)
Fund I is fully deployed with 13 investments. 3 companies continue to progress. No notable updates.