How It Works
Novara is designed to feel like joining a private investment firm, not clicking a button on a marketplace. Here is exactly what the process looks like.
Complete a brief application covering your investment background, accreditation status, and interest in private markets. We review each application individually and respond within 2 business days.
Tell us about your professional background and investment experience
Confirm your accreditation status under SEC guidelines
Share what you are looking for in private market investments
Applications are reviewed individually — no automated approvals
Once approved, complete your investor profile, self-certify your accreditation, and sign the platform membership agreement. This establishes your membership and grants deal room access.
Set your investment preferences and notification settings
Self-certify accreditation status — no third-party verification required
Provide banking details for future distributions
Sign the platform membership agreement electronically
Access the Novara deal room where every active opportunity lives. Each deal includes our full investment committee writeup, summary deck, tear sheet, financial model, and direct access to the sponsor's own data room.
30–60 page institutional investment committee writeup per deal
Visual summary deck covering thesis, financials, and return scenarios
Direct access to sponsor-provided CIM, financial model, and QofE report
Structured Q&A with Novara — ask anything, get a direct answer
Submit a non-binding soft circle indicating your intended investment amount. Allocations are confirmed on a first-come-first-served basis. You have 48 hours from allocation confirmation to execute subscription documents.
Non-binding — no obligation at this stage
First-come-first-served on executed subscription agreements
Minimum investment of $50,000 per deal
Maximum of 99 investors per SPV
Review and sign subscription documents electronically. Wire instructions are provided only after execution. Funds are held in escrow by our fund administrator until the deal closes.
Subscription documents generated and executed via DocuSign
Wire instructions issued within the platform portal after execution
Funds held in escrow — returned within 5 business days if deal does not close
USD only — domestic entities including LLCs, trusts, and IRAs accepted
Once invested, track your position through the Novara portfolio dashboard. Receive quarterly updates, monitor estimated values, and view your blended performance across all investments.
Quarterly and semi-annual updates for every active portfolio company
Consolidated portfolio view — total IRR, MOIC, and capital deployed
Deal-by-deal performance attribution and update history
K-1s issued annually for tax purposes
Frequently Asked Questions
An independent sponsor is a private equity professional who sources, diligences, and executes deals without a committed fund. They raise capital on a deal-by-deal basis, which means they are lean, aligned, and deeply incentivized — their economics depend entirely on each deal's success.
A Special Purpose Vehicle (SPV) is a dedicated legal entity — typically a Delaware LLC — formed for a single investment. Each Novara deal has its own SPV. You invest into the SPV, which in turn holds the equity stake in the portfolio company. This gives you full transparency into exactly what you own.
The minimum investment per deal is $50,000. There is no minimum number of deals you must participate in — you choose which opportunities fit your portfolio.
Novara uses a modified European waterfall structure. All capital is returned to investors first, followed by a preferred return (hurdle rate), a GP catch-up, and then remaining profits split 90% to investors and 10% to Novara. You never pay carry until you are fully whole plus your preferred return.
Novara charges a 1–2% annual management fee on committed capital and 10% carried interest above a preferred return hurdle. SPV formation and administrative costs are borne by the SPV and disclosed in the PPM for each deal. There are no transaction fees or placement commissions.
Lower middle market buyouts typically have a 4–7 year hold period. Each deal specifies its target hold period in the deal materials. Private equity is illiquid — you should expect your capital to be committed for the full hold period.
If the underlying transaction falls through after you have wired funds, Assure (our fund administrator) will return all funds to you within 5 business days. This policy is disclosed in detail in every PPM and the platform membership agreement.
Yes. Novara accepts investments from all US domestic entities including LLCs, corporations, partnerships, trusts, and self-directed IRAs. Foreign entities are not accepted. Entity investors will need to provide formation documents and beneficial ownership information during onboarding.
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