Fund · Vintage 2023

AllegisNL Capital II

Multi-stage venture fund (2023 vintage). Quarterly fair-value marks and portfolio detail as of Q1 2026.

Total Commitments

$126.3M

Committed capital · 02-Funds

% Called

60.0%

$75.8M of $126.3M · 14 calls

Net IRR

18.2%

04b · as of 3/31/26

Net MOIC

1.27x

04b · as of 3/31/26

Fund Returns Over Time

Net MOIC by Quarter

Quarter	Net MOIC	Net IRR
Q2’23	0.85x	—
Q3’23	0.83x	-48.4%
Q4’23	0.76x	-39.7%
Q1’24	0.82x	-34.4%
Q2’24	0.78x	-28.6%
Q3’24	0.78x	-24.9%
Q4’24	0.88x	-16.2%
Q1’25	0.86x	-14.2%
Q2’25	0.89x	-12.8%
Q3’25	1.23x	21.5%
Q4’25	1.31x	22.6%
Q1’26	1.27x	18.2%

Net of fees, expenses and carry, per Allegis Fund Admin 04b-Fund Metrics.

Portfolio Companies

Company	First Invest	At Entry		Current		Gross MOIC	Allegis %	Website
Company	First Invest	EV ($M)	Cost	EV ($M)	Fair Value	Gross MOIC	Allegis %	Website
Fundamental Technologies	2024-12	$930.0M	$11,499,954	$1425.0M	$29,115,483	2.53x	4.0%	link
Pylon Lending	2024-03	$51.0M	$10,689,993	$200.0M	$27,500,000	2.57x	20.1%	link
Vouch	2021-01	$1127.7M	$10,000,000	$312.5M	$10,000,000	1.00x	4.8%	link
Modern Life	2025-06	$82.0M	$4,999,997	$82.0M	$9,999,995	2.00x	6.1%	link
Ultromics	2025-06	$134.0M	$4,999,991	$134.0M	$9,999,981	2.00x	3.7%	link
Boldin	2023-07	$50.4M	$4,999,994	$77.0M	$8,258,443	1.65x	9.9%	link
Kadance	2023-09	$19.7M	$3,500,000	$36.5M	$4,461,856	1.27x	16.5%	link
Polygraf AI	2025-09	$40.0M	$4,000,000	$39.3M	$4,000,000	1.00x	20.3%	link
Sunfish	2024-11	$40.0M	$2,599,997	$40.0M	$2,599,997	1.00x	—	link
CoverRight	2025-07	$25.0M	$2,499,981	$25.0M	$2,499,981	1.00x	10.0%	link
Lazarus AI	2024-11	$0.0M	$2,000,000	$0.0M	$2,000,000	1.00x	—	link
Laminar Digital Health	2024-07	$16.0M	$1,000,000	$16.0M	$709,008	0.71x	6.3%	link
CharterSpace	2025-08	$26.0M	$249,999	$26.0M	$499,999	2.00x	1.0%	link
HONA AI	2024-04	$18.0M	$500,000	$18.0M	$250,000	0.50x	5.4%	link
Total · 14 companies			$63,539,906		$111,894,743	1.76x

Cost, Fair Value and Gross MOIC are NL-II-specific (this fund's own position), per Allegis Fund Admin (Rpt-Fund Gross Metrics, 3/31/2026). Entry / Current EV and Allegis % are company-level (consistent across funds; firm-wide fully-diluted ownership). “n/m” = held via warrant/transfer at nominal cost. Websites per 09-Portfolio Companies.