Additional resources for qualified investors

An exchange fund lets you contribute appreciated stock in-kind to a diversified fund without triggering a sale. Under Section 721 of the tax code, the contribution is not a taxable event, so your full pre-tax balance keeps compounding. After 7 years + 1 day you can redeem in liquid ETF shares with carryover basis, keeping the tax deferral until you need liquidity.

Glidepath is open to Qualified Purchasers contributing a minimum of $100,000. Eligibility is confirmed during onboarding.

Traditional exchange funds charge roughly 1% a year — every year, for decades — to hold a mostly passive portfolio. On a $1M position over a 30-year horizon, that's hundreds of thousands of dollars in fees and lost compounding. Glidepath is modernizing the exchange fund, removing layers of intermediaries and using an innovative structure that allows investors to ride fee-free.

After seven years and one day, investors are eligible to redeem securities or cash, or may choose to stay invested until liquidity is needed. Some modern exchange funds are designed so that, following the holding period, investors may receive ETF shares rather than an unmanaged basket of individual stocks — offering a simpler exit into a daily liquid and diversified position. An exchange fund defers capital gains tax; it does not erase it. Your carried-over basis means the embedded gain is still there, and tax applies if and when you ultimately sell. The benefit is control — you decide when the gain is realized — plus the compounding advantage of keeping the full pre-tax amount invested in the meantime. Under current law, positions held until death may receive a stepped-up basis, which can eliminate the deferred gain for heirs; consult your tax advisor.

The seven year holding period comes from the tax code, not from any individual fund — it's what separates a genuine exchange from what the IRS calls a 'disguised sale'. After seven years and one day, investors are eligible to redeem, or stay invested until liquidity is needed.

The Glidepath fund has been developed with nationally recognized administrative, custody, legal and accounting advisors from NAV, UBS, Withum and Hanson Bridgett. Glidepath is backed by partners at Spark Capital, Kleiner Perkins, Susa Ventures, Collective Global, and angel investors from across finance and technology.