First Turn Management, LLC

First Turn Management, LLC is a registered investment adviser specializing in providing discretionary investment advisory services to private funds and separate accounts. The firm was established on August 28, 2023, and is owned by entities controlled by Lisa Wheatley and certain persons affiliated with IQHQ, Inc. First Turn's investment strategy focuses on long-term capital appreciation through a diversified portfolio of healthcare and therapeutics-related investments. The firm employs a top-down evaluation of emerging technologies and a rigorous fundamental research process to identify high-conviction investment opportunities. Clients have the option to invest in private securities, subject to a cap of 20% of client assets. For private funds, First Turn charges an annual fixed fee of 1.25% of net asset value and performance-based fees ranging from 15% to 20% of net profits. The firm is fee-only and may negotiate fees and minimum account sizes on a case-by-case basis. First Turn exercises investment discretion for both private funds and separate accounts, acting as a fiduciary in the best interests of clients. The firm votes proxies for client securities based on recommendations from Glass Lewis & Co., LLC. First Turn does not have custody of client assets for separate accounts and has not been subject to any material legal or regulatory findings. The firm's financial condition is sound, ensuring its ability to meet contractual obligations. Clients receive regular communications and account statements to stay informed about their investments.