The prospectus states the Fund seeks long-term capital appreciation through an actively managed portfolio giving investors exposure to private, venture capital investments. It invests primarily in equity and equity-linked securities of private, operating growth companies (early stage to pre-IPO), acquired directly or in secondary transactions, and up to 15% of net assets in private venture capital funds. The Subadviser favors companies backed by "influential investors". The Fund may hold substantial cash and liquid securities and may borrow up to 33 1/3% of gross assets.