Investor letters
Our quarterly and annual letters to the partners in our funds, published in full.
Investor letters
Q3 2026
Investor letters · October 8, 2026
Third-quarter letter, 2026
Our letter to the partners in our funds for the third quarter of 2026: two new commitments, a partial sale of Payfield, and progress at Albedo and Juniper.
Grant Holloway and Sofia Ortega
Investor letters
Q2 2026
Investor letters · July 9, 2026
Second-quarter letter, 2026
Our letter to the partners in our funds for the second quarter of 2026: two new Fund V investments, early results at Amperra and Kiln, and where Fund III stands after Ostra.
Grant Holloway and Sofia Ortega
Investor letters
2025
Investor letters · January 22, 2026
Annual letter, 2025
Our annual letter to the partners in our funds: closing Fund V, the sale of Ostra, Tidewater's first year as a public company, and the first five Fund V investments.
Nadia Mensah and Theo Marchetti