Cards Capital is exploring a private fund, provisionally named Cards Capital 151 Fund, LP, that would give accredited investors diversified, professionally custodied, honestly marked exposure to Pokémon Trading Card Game cards across every era of the game. We are publishing this page to test the waters: to find out whether serious investor demand exists before any fund is formed. If it launches, the platform may in time extend to funds covering other trading card games.
Nothing here is an offer. We are gauging interest toward a contemplated initial raise of approximately $10 million. If demand is not there, the fund will not be built. That is the point of asking first.
It is the most measurable collectibles market in existence. Standardized card identities, transparent grading population reports, deep public price databases, and frequent arm's-length transactions make an honest, third-party-verifiable NAV possible. Where fine art needs appraisals, Pokémon has data.
There is no investable index. Today the only way to hold this asset class is to build a collection yourself: sourcing, authentication, grading, storage, insurance, and eventual resale. A fund is the access product: the exposure without the operating burden.
Transparency as the operating standard. The contemplated design commits to monthly public disclosure of every purchase and sale, valuation marked to observed market transactions rather than the manager's opinion, independent third-party custody, and an annual audit.
| Vehicle | Delaware limited partnership; private fund for accredited investors (Regulation D) |
| Mandate | All-era Pokémon TCG: vintage WOTC-era 35–45%, mid-era 25–35%, modern 20–30%, cash 2–8% |
| Quality bands | Graded and near-mint raw cards only, with era-specific grading floors; minimum card price $100 |
| Diversification | Hard caps per set, per card, and per Pokémon (detailed below), so no single position dominates the book |
| Custody | At least two independent, insured, climate-controlled third-party vaults |
| Valuation | Monthly NAV marked to recent observed sales on major marketplaces, cross-checked across independent price sources |
| Transparency | Monthly public posting of all buys and sells; published benchmark methodology; annual audit |
| Minimum investment | $25,000 |
| Liquidity | Monthly redemptions, subject to tentative fund-level gates of 5% of fund assets per month and 12.5% per quarter, designed to protect remaining investors from forced sales |
| Fees | Approximately 4% all-in annually (covering management, custody, insurance, administration, audit); no performance fee |
| Reporting | Schedule K-1; monthly statements and transparency reports |
Every term above is contemplated and subject to change. Final terms, if a fund is ever offered, would be set out exclusively in that offering's formal documents.
The fund is designed as an access product, not a trophy hunt. Its defining discipline is a set of hard diversification covenants that keep the portfolio an index-like book of hundreds of positions rather than a bet on any single card, set, or character:
| Single set | No more than 10% of fund assets in cards from any one set |
| Single card | No more than 1% of fund assets in any one card |
| Single Pokémon | No more than 10% of fund assets in cards featuring any one Pokémon; cards featuring multiple Pokémon count pro-rata toward each |
| Era allocation | Vintage (WOTC) 35–45% · mid-era 25–35% · modern 20–30% · cash 2–8% |
| Language mix | At least 70% English-language cards; at most 20% Japanese; at most 10% other languages |
| Ramp & de minimis | Covenants would be suspended below $1M of fund assets and during an initial deployment period, while the portfolio is being built toward compliance |
Like everything on this page, these covenants are contemplated and subject to refinement in final documents. The intent is fixed: diversified exposure to the asset class, with concentration risk capped by rule rather than by manager judgment.
We are looking for a single anchor: an investor or institution prepared to commit meaningful size at first close and underwrite the fund's launch.
Early believers who commit at first close, before the track record exists, and are compensated for being first.
A two-page fact sheet for the contemplated fund, covering the full structure, covenants, quality standards, custody arrangements, and valuation policy, is available here. It carries the same required notices as this page and describes the same contemplated, subject-to-change terms.
If this product, at roughly these terms, is something you would seriously consider, tell us. An indication of interest is not a commitment, obligates you to nothing, and no money is being solicited or will be accepted. It simply tells us whether to build this.
Email an indication of interest Helpful to include: your name, whether you are an accredited investor, the rough size you would consider (e.g., $25k–$100k, $100k–$500k, anchor-scale), and how you found this page. Interested in the anchor seat? Say so; that conversation comes first.This page is published solely to gauge interest in a contemplated investment product. No fund, issuer entity, or offering currently exists. All terms described are preliminary, contemplated, and subject to change or abandonment without notice. Nothing on this page constitutes investment, legal, or tax advice, or a recommendation of any kind. Investing in collectibles involves substantial risk, including illiquidity and possible loss of the entire investment. No representation is made regarding past or future performance of Pokémon TCG cards or any other asset.
Pokémon and Pokémon Trading Card Game are trademarks of Nintendo, Creatures Inc., GAME FREAK inc., and/or The Pokémon Company International. Cards Capital is not affiliated with, sponsored by, or endorsed by any of these companies. References are for identification of the asset category only.