VanEck Capital Private Growth Equity

The investment strategy described herein, and the targeted of companies the fund intends to pursue and there is no guarantee that the portfolio exposures, companies, and characteristics are based on current expectations and should not be considered definitive or a guarantee that the approaches, strategies, and investment portfolio will, in fact, possess these characteristics. These descriptions are based on information availability as of the date of preparation of this document, and the description may change over time. The strategy discussed has not yet been implemented and a fund has not yet been offered. All companies and investments identified are not current portfolio companies of the anticipated fund and are only provided for illustrated purposes representing the types and will ultimately invest in any of the companies identified herein or that the fund will invest in companies similar or comparable to any of the companies identified herein.

This material does not constitute an offer to sell or solicitation to buy any security, including shares of any fund. This material and the information provided herein are not directed at or intended for distribution to any person (or entity) who is a citizen or resident of (or located or established in) any jurisdiction where the distribution of these materials and/or the purchase or sale of interests of a fund would be contrary to applicable law or regulation or would subject a fund to any registration or licensing requirement in such jurisdiction. Persons who wish to review this material are required to inform themselves about and to observe any legal or regulatory restrictions which may affect their eligibility to make an investment in a fund. Professional advice should be sought in cases of doubt. Any projections, market outlooks or estimates in this material are forward-looking statements and are based upon certain assumptions that are solely the opinion of VanEck. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. Further, any information regarding portfolio composition, portfolio composition methodology, investment process or limits, or valuation methods of evaluating companies and markets are intended as guidelines which may be modified or changed by VanEck at any time in its sole discretion without notice.

Any projections, market outlooks or estimates in this material are forward-looking statements and are based upon certain assumptions that are solely the opinion of VanEck. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. Further, any information regarding portfolio composition, portfolio composition methodology, investment process or limits, or valuation methods of evaluating companies and markets are intended as guidelines which may be modified or changed by VanEck at any time in its sole discretion without notice. Forecasts, estimates, and certain information contained herein are based upon proprietary research and the information contained in this material is not intended to be, nor should it be construed or used as investment, tax or legal advice. References to specific securities and their issuers or sectors are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities or gain exposure to such sectors. The Funds may or may not own the securities or be exposed to the sectors referenced and, if such securities are owned or exposure maintained, no representation is being made that such securities will continue to be held or exposure maintained. Non-VanEck proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed.

Private fund investments involve substantial risk and are suitable only for investors who can bear the risk of loss, including the possible loss of their entire investment. Interests in the Fund will be illiquid and subject to transfer restrictions, and investors should be prepared to hold their investment for an extended period; the Fund may make capital calls over time and investors that fail to meet capital commitments may be subject to significant penalties or forfeiture. The Fund’s investments in private companies and other non-public assets may be highly speculative and concentrated, subject to business, market, credit, operational, regulatory and technological risks, and may be difficult to value due to limited information and the absence of an active market; valuations are inherently subjective and may not reflect realizable values upon disposition. The Fund’s performance may be adversely affected by, among other things, leverage (if used), follow-on financing requirements, delayed or limited exit opportunities, and reliance on key personnel and third parties; there can be no assurance that the Fund will achieve its objectives, that any targeted returns will be realized, or that any investment opportunities described will be consummated. Past performance (including any referenced market, index, deal, or illustrative results) is not indicative of future results, and prospective investors should carefully review the Fund’s offering documents and consult their own legal, tax and financial advisors before making any investment decision.

An investment in the Fund may be subject to a high degree risk. There is no guarantee that the investment objective will be achieved. All investment involves risk including the loss of principal.