Fund X
The next layer of the aviation stack, built by today's operators.
Advanced Air Mobility & Vertiports · $2.100B committed capital · Delaware LP.
Thesis
What Fund X owns.
Fund X invests in eVTOL / AAM airframe partners, vertiport real estate, and the airspace-integration technology that will move the industry from certification to commercial service. The fund is patient capital: 8–12 year horizon.
AAM will be a real industry within the fund's horizon. It requires operators — that is us — and it requires ground infrastructure at the same airports and city pairs where we already own hangars and terminals.
Fund Terms
Consistent across the platform.
VehicleDelaware LP
Committed Capital$2.100B
Preferred Return8%
Carried Interest20%
GP Catch-up100%
LP Minimum$5M
Term10 yr + two 1-yr extensions
Operating KPIs
What we measure.
Target Net IRR16–20%
Vertiport Sites20–40 sites
Airframe Investments3–6 platforms
Horizon8–12 yr
The next layer of the aviation stack, built by today's operators.
Fund X · Advanced Air Mobility & Vertiports
Continue the Platform
Adjacent funds.
Discuss Fund X
Investor Relations.
For institutional LPs, family offices, and corporate flight departments considering an allocation.