<SEC-DOCUMENT>0001575872-24-000695.txt : 20250827
<SEC-HEADER>0001575872-24-000695.hdr.sgml : 20250827
<ACCEPTANCE-DATETIME>20240624172754
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001575872-24-000695
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240624

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Destiny Tech100 Inc.
		CENTRAL INDEX KEY:			0001843974
		ORGANIZATION NAME:           	
		EIN:				861352850
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1401 LAVACA STREET #144
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78701
		BUSINESS PHONE:		(415) 639-9966

	MAIL ADDRESS:	
		STREET 1:		1401 LAVACA STREET #144
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78701
</SEC-HEADER>
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    <TD STYLE="width: 70%; font-size: 10pt"><IMG SRC="es112_correspimg01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 30%">
    <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Eversheds Sutherland (US) LLP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7pt">700 Sixth Street, NW, Suite 700<BR>
    Washington, DC 20001-3980</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 7pt">D: +1 202.383.0262<BR>
    F: +1 202.637.3593</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">owenpinkerton@eversheds-sutherland.us</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">June 24, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Division of Investment Management</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">100 F Street NE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Washington, DC 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Re:</TD><TD STYLE="text-align: justify">Destiny Tech100 Inc.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">Registration Statement
on Form N-2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><B><U>File Nos. 811-23802; 333-278734</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dear Ms. Rossotto:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">On behalf of Destiny
Tech100 Inc. (the &ldquo;Company&rdquo;), set forth below are the Company&rsquo;s responses to the comments provided by the staff of the
Division of Investment Management (the &ldquo;Staff&rdquo;) of the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on May 21,
2024, regarding the Company&rsquo;s registration statement on Form N-2 (the &ldquo;Registration Statement&rdquo;), which was filed on
April 16, 2024. The Staff&rsquo;s comments are set forth below and are followed by the Company&rsquo;s responses. Capitalized terms used
but not defined herein have the meanings ascribed to such terms in the Registration Statement. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">LEGAL COMMENTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt"><U>General</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>1.</I></TD><TD STYLE="text-align: justify"><I>In a Bloomberg TV interview last month you noted the Company was created to provide investors &ldquo;as
close to beta exposure to the private markets as possible&rdquo;. However, disclosures on your website generally state your intention:</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 53.95pt; text-align: justify"><I>&hellip;to invest in a portfolio of
100 of the top venture-backed private technology companies, providing&hellip;investors access to these private market leaders &hellip;
companies must have been vetted by top U.S. institutional investors and meet key health metrics</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 53.95pt; text-align: justify"><I>&hellip; [and] generally have reached
a level of maturity and stability expected of a late- stage venture backed company [emphasis added].</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><I>Existing prospectus disclosure similarly
suggests an intention to actively select companies that meet narrower selection criteria. Please reconcile the apparent inconsistency
and revise investor facing communications as necessary.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company confirms that its investment
strategy is to invest in a portfolio of the top venture-backed private technology companies that meet criteria set forth in the Company&rsquo;s
filings with the SEC. While Mr. Prasad&rsquo;s statement differs from the language found in the Company&rsquo;s public filings, the Company
does not believe it is material or misleading. Due to the large number of technology companies that qualify as so-called &ldquo;unicorn&rdquo;
private companies, providing investor access to a portfolio that seeks to invest in up to 100 of such private technology companies can
be viewed as exposure to the private markets in general. The Company does not use the phrase &ldquo;as close to beta exposure to the private
markets as possible&rdquo; in any of its marketing materials, nor does it include such statement on its website. Since the Company does
not believe that the interview with Mr. Prasad was material or misleading, and since the Company is not conducting an offering of its
securities, the Company does not believe that any statements or filings are necessary to address the inconsistency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 2</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>2.</I></TD><TD STYLE="text-align: justify"><I>Disclosure on the website indicates that for many pre-IPO stage companies, &ldquo;there may be the
potential to yield a 10-50% return.&rdquo; Please provide us the basis for this statement and otherwise explain why such statement is
appropriate and not misleading.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The referenced language specifically
states that for &ldquo;many&rdquo; pre-IPO companies &ldquo;there may be the potential&rdquo; for such a return, which is clearly not
a guarantee of any specific return nor does it suggest that &ldquo;all&rdquo; pre-IPO companies will achieve such gains. The context where
the referenced language appears within the website is distinguishing between &ldquo;large cap&rdquo; companies (valued at $10B+) and &ldquo;medium
cap&rdquo; companies (valued at $750M-10B). The statement is based on the venture lifecycle where companies that are at the medium cap
stage &ldquo;may have the potential&rdquo; for such growth. While the Company does not believe such statement is misleading to investors,
it has removed such statement from its website.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><U>Cover</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>3.</I></TD><TD STYLE="text-align: justify"><I>As the securities being registered will be offered &ldquo;on a delayed or continuous basis&rdquo;,
please check the second box on the Cover indicating registration in reliance on Rule 415 under the Securities Act. If this box is not
checked, please explain to us why not. In addition, please include the Undertakings required by Item 34.3 of Form N-2. In connection with
the Plan of Distribution-related Undertaking, please tell us whether you anticipate offering, selling, or otherwise promoting the sale
of securities of the Company generally other than through registered broker-dealers or persons employed by the Company. If so, please
tell us your intentions and the types of disclosures that will be provided to investors in connection with such activity.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Amendment has been revised to
check the box on the facing page indicating that shares may be offered on a delayed or continuous basis. The Amendment has also been revised
to include the Undertakings set forth in Item 34.3 of Form N-2. The Company has no current intention to offer shares from the shelf registration
statement except through registered broker-dealers or individuals employed by the Company or an affiliate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>4.</I></TD><TD STYLE="text-align: justify"><I>In the third paragraph on page i, the disclosure indicates the Company may sell common stock at a price
below NAV &ldquo;in connection with a rights offering to our existing stockholders.&rdquo; Does the Company anticipate such an offering?
Please confirm to us.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company has no current plans
to conduct a rights offering of its shares. However, since the shelf registration statement has a three-year term, the Company would like
the flexibility to consider such an offering under appropriate market conditions. The Company believes it is customary to allow for a
rights offering off a shelf registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>5.</I></TD><TD STYLE="text-align: justify"><I>On page i, in the first line of the fourth paragraph, the disclosure states &ldquo;Our common stock
may be offered&hellip;through agents designated from time to time by us, or to or through underwriters or dealers.&rdquo; Please explain
to us who these &ldquo;agents&rdquo; are, what they do and how they are compensated. Please also explain to us the distinction between
the agents and underwriters/dealers referenced in the disclosure. In addition, please let us know if the agents and/or underwriters have
or will be provided information, access, scripts, or marketing materials by the Company and whether and to what extent the Company or
the Adviser monitors their activities.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 74%; font-size: 10pt"><IMG SRC="es112_correspimg01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 3</P></TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
the referenced language is standard language included in shelf registration statements and is designed to provide the Company with flexibility
to access the capital markets on a timely basis if attractive opportunities are available. The Company believes that the term &ldquo;agent&rdquo;
could refer to different entities, such as a placement agent or a sales agent, which would be a registered broker-dealer. A placement
agent would differ from an underwriter in that it would not engage in a firm commitment underwritten offering of securities, but instead
would seek to raise capital through a best efforts offering of securities, including through an &ldquo;at-the-market offering&rdquo; (see
the response to comment 8(a) below). In addition, securities could be issued through a subscription agent in a registered rights offering.
As noted on page i of the Prospectus, &ldquo;Each prospectus supplement relating to an offering will identify any agents or underwriters
involved in the sale of our securities, and will disclose any applicable purchase price, fee, discount or commissions arrangement between
us and our agents or underwriters or among our underwriters or the basis upon which such amount may be calculated. See &ldquo;Plan of
Distribution.&rdquo; We may not sell our common stock through agents, underwriters or dealers without delivery of this prospectus and
a prospectus supplement describing the method and terms of the offering of our common stock.&rdquo; No such arrangements are in place
or being negotiated. As the issuer of securities, the Company would of course be responsible for monitoring the activities of an agent
or underwriter selling or facilitating the sale of its shares. However, as no arrangements are currently in place, the Company is unable
to disclose the nature and extent of such monitoring activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>6.</I></TD><TD STYLE="text-align: justify"><I>On page i, in the fifth (bolded) paragraph, the disclosure provides the Company&rsquo;s last reported
share price as of April 12, 2024. Please update this paragraph, and disclosure in general throughout the prospectus, to reflect events
that have occurred since the registration statement was filed.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Amendment has included updated
disclosure with respect to its share price and to reflect any material events since the initial filing of the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>7.</I></TD><TD STYLE="text-align: justify"><I>On page ii, please disclose within the bolded bullets, that, in addition to the Company&rsquo;s shares
having traded at a premium to net asset value, the Company&rsquo;s shares have also exhibited high price volatility.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company has revised its disclosure
on the cover page, as requested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><I>About the Prospectus (page <FONT STYLE="letter-spacing: -0.25pt">4)</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>8.</I></TD><TD STYLE="text-align: justify"><I>The disclosure in the third sentence of this paragraph <FONT STYLE="letter-spacing: -0.1pt">states</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 53.95pt; text-align: justify"><I>We may sell our common stock through
underwriters or dealers, &ldquo;at-the-market&rdquo; to or through a market maker, into an existing trading market or otherwise directly
to one or more purchasers or through agents or through a combination of methods of sale.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><I>Regarding this disclosure, please address
the following <FONT STYLE="letter-spacing: -0.1pt">comments:</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.95pt"></TD><TD STYLE="width: 17.95pt">a.</TD><TD STYLE="text-align: justify"><I>Please explain to us what &ldquo;at-the-market&rdquo; means and how this price is <FONT STYLE="letter-spacing: -0.1pt">determined.</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
an &ldquo;at-the-market&rdquo; offering (&ldquo;ATM&rdquo;) is a follow-on registered offering of shares on a continuous basis through
a registered broker-dealer engaged by the issuer. The shares sold in an ATM offering are sold pursuant to an equity distribution agreement
(or sales agreement) whereby the broker-dealer(s) sell shares into the market in exchange for a commission paid by the issuer or an affiliate.
The terms of any such sales, including the price (or range of prices) at which shares may be sold, will be dictated by a placement notice
that the issuer provides to the broker-dealer in advance of any sales made pursuant to the ATM. To the extent the Company engages in an
ATM offering, it will only issue placement notices requiring that shares be sold at a price, net of commissions, that is not below the
current net asset value of the Company. ATM offerings are a very common method of raising incremental capital over time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 71.9pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I></I></P>

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    <TD STYLE="width: 74%; font-size: 10pt"><IMG SRC="es112_correspimg01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 4</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 71.9pt; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.95pt"></TD><TD STYLE="width: 18pt">b.</TD><TD STYLE="text-align: justify"><I>Please explain to us what the phrase &ldquo;an existing trading market&rdquo; refers to (i.e., what
trading market (or markets) does the Company anticipate trading in?)</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
&ldquo;existing trading market&rdquo; only refers to the NYSE; however, if the Company&rsquo;s shares are sold through a different securities
exchange, such market would be included as well. Since the shelf registration statement is valid for three years, the Company believes
it is appropriate and not confusing to investors to retain the disclosure as is.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.95pt"></TD><TD STYLE="width: 18pt">c.</TD><TD STYLE="text-align: justify"><I>Please explain to us what &ldquo;directly to one or more purchasers&rdquo; means. In doing so, please
explain how these sales are made and who these purchasers are.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
the shelf registration statement would allow the Company to directly sell shares to one or more purchasers with or without the use of
a registered broker-dealer. Such sales would be described more fully in a prospectus supplement. Purchasers could be institutions or individuals
that are interested in purchasing a large block of shares, which would either be impossible or disruptive to the trading market if done
through normal buy orders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Prospectus <FONT STYLE="letter-spacing: -0.1pt">Summary</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><I>Investment Strategy (page <FONT STYLE="letter-spacing: -0.25pt">6)</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>9.</I></TD><TD><I>The disclosure in the penultimate sentence of the second paragraph states &ldquo;We will limit our investments in&hellip;Private
Funds to no more than 15% of our net assets.&rdquo; Please confirm that when determining the Company&rsquo;s exposure to Private Funds
with respect to this limitation, the Company will look through to any Private Fund investments held in any SPVs the Company is invested
in. In addition, as many of the Company&rsquo;s investments are in SPVs that invest substantially all of their assets in securities, please
tell us what exemptions from the Investment Company Act such SPVs rely on and whether you consider them Private Funds for purposes of
the 15% limitation.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company confirms that, to the
extent any SPV in which it invests holds shares of a Private Fund, the Company will include such investment in the 15% limitation included
in the Prospectus. The Company notes, however, that it has no intention of investing in an SPV that holds shares of a Private Fund. The
Company believes that the SPVs it invests in generally rely on the exclusions found in Section 3(c)(1) or 3(c)(7) under the 1940 Act,
and the Company does not include them in the definition of &ldquo;Private Funds&rdquo; in the Prospectus. The Company is aware of the
Staff&rsquo;s position promulgated through comment letters limiting investments by registered funds in private equity funds and hedge
funds to 15% of the issuer&rsquo;s net assets, or in some cases, total assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>10.</I></TD><TD STYLE="text-align: justify"><I>In the third paragraph, the disclosure references &ldquo;forward contracts for future delivery of stock.&rdquo;
Please explain here what these transactions are and what they involve.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response: </B>The Company has revised its disclosure
under &ldquo;Investment Strategy&rdquo; to provide an overview of forward contracts for future delivery of stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt"><I>Investment Types (page <FONT STYLE="letter-spacing: -0.25pt">7)</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt"><IMG SRC="es112_correspimg01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 5</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>11.</I></TD><TD STYLE="text-align: justify"><I>To assist investors in understanding your portfolio, strategy, and risks, please disclose the approximate
percentage of the portfolio purchased (1) directly from a portfolio company (2) indirectly through an employee or former employee and
(3) indirectly through an institutional investor. Depending on your response, please consider the need for improved risk disclosure regarding
your access to portfolio company information and/or risks related to transfer restrictions on employee and investor shares.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company has included additional
disclosure under the heading &ldquo;Summary&mdash;Current Portfolio&rdquo; to provide details regarding the portion of the portfolio acquired
through an SPV managed by a third party and the portion of the portfolio invested in SPVs that own forward contracts. In addition, the
Company has included additional disclosure under &ldquo;Summary&mdash;Investment Types&rdquo; regarding risks associated with the investments
in SPVs. The Company has included disclosure regarding the portion of its portfolio comprised of investments in SPVs managed by third
parties, but does not believe that separately disclosing the portion of its portfolio comprised of securities of an employee or former
employee of a portfolio company or the portion purchased indirectly through an institutional investor is meaningful to investors in the
Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>12.</I></TD><TD STYLE="text-align: justify"><I>In the penultimate line of the second paragraph, the disclosure indicates that the Company will seek
approval for direct purchases from stockholders of shares that may have limitations and restrictions that you describe in the paragraph.
Please explain to us if the Company will always seek approval when purchasing shares in this way, or will the Company purchase shares
without approval, including through forward agreements?</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company has revised its disclosure
to make clear that the Company will seek approval from an underlying portfolio company if such approval is required by the agreement the
Company has with the shareholder of such portfolio company. In addition, the Company has provided additional disclosure under this section
regarding the risks associated with acquiring securities from shareholders of portfolio companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>13.</I></TD><TD STYLE="text-align: justify"><I>In the third paragraph of this section, the disclosure states &ldquo;Some of our investments may be
held through [SPVs], which are private investment vehicles formed to invest in a particular portfolio company.&rdquo; Disclosure elsewhere
indicates that a substantial amount of your investments are made through SPVs that hold shares or forward agreements to purchase shares
in a single company. Please reconcile this inconsistency.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company is unable to locate any
reference in the Prospectus to holding a &ldquo;substantial&rdquo; amount of its assets through SPVs. It notes, however, that the statement
that &ldquo;some&rdquo; of its assets will be held in SPVs appears in three different locations in the Prospectus. Therefore, the Company
does not believe there is an inconsistency and has not made any revisions in response to this comment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>14.</I></TD><TD STYLE="text-align: justify"><I>As a general matter, please disclose the overall structure and terms typically associated with the
SPVs you typically invest in. This disclosure might include:</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14.65pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 17.95pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>How SPVs are created and by <FONT STYLE="letter-spacing: -0.1pt">whom;</FONT></I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14.65pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 17.95pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>How SPVs source their <FONT STYLE="letter-spacing: -0.1pt">investments;</FONT></I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.95pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>What material risks arise from such sourcing and how do SPV structurers attempt to manage that risk;</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14.6pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.95pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>How the SPV&rsquo;s securities are offered and to <FONT STYLE="letter-spacing: -0.2pt">whom;</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt"><I>&nbsp;</I></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt"><I>&nbsp;</I></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt">&nbsp;<IMG SRC="es112_correspimg01.jpg" ALT=""></TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 6</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14.6pt Times New Roman, Times, Serif; margin: 0 0 0 71.95pt; text-align: justify; text-indent: -0.25in"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14.65pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.95pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Who manages the <FONT STYLE="letter-spacing: -0.1pt">SPVs;</FONT></I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.95pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>What fees and expenses are assessed initially and over the life of the SPV and what are typical fee
and expense levels;</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14.6pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 53.95pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>How do these fees and expenses impact the overall deal economics and <FONT STYLE="letter-spacing: -0.1pt">valuation;</FONT></I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>What agreements and obligations does the SPV typically have to SPV investors (e.g., obligations around
custody, maintaining insurance, financial statements, audits, etc.).</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response</B>: The Company respectfully advises
the Staff that the SPVs that the Company invests in are vehicles organized by unaffiliated managers that are designed to provide the Company
and other accredited investors access to securities of an individual private company through a private offering of securities exempt from
registration pursuant to Regulation D under the Securities Act of 1933, as amended. Third party managers (who may be affiliates of venture
capital firms or private fund managers) that form SPVs source investment opportunities through relationships they have with other market
participants, which may include shareholders of private companies. Risks associated with SPVs are disclosed under the heading, &ldquo;Risk
Factors&mdash;General SPV Risks&rdquo;. In investing in an SPV, the Company is one of many investors and is not privy to the identity
of other investors, all of whom invest as part of a private offering conducted pursuant to Regulation D under the Securities Act of 1933,
as amended. All members of the SPV have rights, which are documented in the limited liability company agreement of the SPV, subject to
the terms of any side letters entered into between a member and the manager of the SPV. The Company may invest in a newly-formed SPV or,
in certain circumstances, may acquire the interests of an existing investor in an SPV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Members of SPVs generally pay fees to the SPV&rsquo;s
manager in order to cover operating and offering-related costs. As a result of its relationships with a number of sponsors of SPVs, the
Adviser often is able to negotiate favorable fee terms in a side letter, which, in many cases, has eliminated fees that the Company would
otherwise pay. To the extent the Company pays fees as a result of its investment through an SPV, such fees would be disclosed in the Fees
and Expenses Table in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>In addition to this general disclosure,
please provide more detailed disclosures about each SPV you&rsquo;ve invested in, including:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Any role the adviser or its affiliates played in creating, structuring, or managing the SPV or compensation
or fees it or its affiliates received;</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>The name of the SPV, the date it was created, its investments, and how it sourced <FONT STYLE="letter-spacing: -0.1pt">them;</FONT></I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>A general discussion of the SPV terms, including fees and expenses and other agreements and obligations;
and</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>The approximate ownership level the Company has of the SPV and how the Company sourced and acquired
its interests.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Response:</B> &nbsp;The Company advises
the Staff that the Adviser and its affiliates play no role in creating or managing any of the SPVs that the Company invests in, nor does
the Adviser or an affiliate receive any compensation related to the Company&rsquo;s investment in SPVs. The Company does not believe that
disclosing the names of SPVs, the dates they were formed or how the investments made by the SPVs were sourced are material to an investor&rsquo;s
understanding of an investment in the Company&rsquo;s shares. Further, the names of SPVs and how the underlying securities were sourced
is information that would generally be required to be treated confidentially per the limited liability company agreement governing the
SPV as such disclosure could compromise the ability of SPV managers to conduct their business. The Company notes that this level of disclosure
would be inconsistent with how other funds are treated. For example, direct lenders are not required to disclose how they source their
investment opportunities as such disclosure would provide substantial competitive harm to their business. Requiring the Company to disclose
how a third party sourced an investment opportunity would essentially render the Company unable to invest in SPVs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt"><IMG SRC="es112_correspimg01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 7</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company has included a new section in
the Summary prior to &ldquo;Investment Process&rdquo; that provides general information about SPVs and other investment structures that
the Company may utilize in order to achieve its investment objective. In terms of each individual SPV, however, the Company does not believe
that such terms are material to investors and again would be restricted by confidentiality provisions contained in each limited liability
company agreement governing each such SPV. As disclosed in other locations of the Prospectus, the Company did not pay any fees associated
with its investments in SPVs during the year ended December 31, 2023. In addition, investors in SPVs generally have very few rights such
as voting rights or other ability to influence management, since such vehicles are not actively-managed but instead are formed to acquire
securities of a single issuer. The Company has reviewed the governing documents of the SPVs in which it has invested and confirms that
it has no voting rights thereunder. In addition, the Company has not invested in any SPVs for control purposes. As a result, the ownership
level the Company has in individual SPVs is immaterial to investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Investment Process (page <FONT STYLE="letter-spacing: -0.25pt">7)</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>15.</I></TD><TD STYLE="text-align: justify"><I>On page 9, in Current Portfolio, consider disclosing, as appropriate, that over 40% of the current
portfolio is invested in aviation and aerospace businesses. Also consider risk disclosure indicating that as a result of the Company&rsquo;s
investments in early stage companies growing at an uneven pace, a few investments may be more prominent in the Company&rsquo;s portfolio
at a given time.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company has included disclosure
on page 29 of the &ldquo;Risk Factors&rdquo; section of the Prospectus under &ldquo;Concentration of investments&rdquo; related to the
current holdings in aviation and aerospace companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>16.</I></TD><TD STYLE="text-align: justify"><I>In Current Portfolio the disclosure states that forward contracts account for 3.2% of the Company&rsquo;s
current portfolio. Do you anticipate this amount increasing? If so, what percentage of the Company&rsquo;s portfolio do you see forward
contracts comprising in the future? Please explain to us.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company cannot accurately estimate
the portion of its assets that will be comprised of forward contracts at future dates. However, to the extent that a direct investment
in a private technology company that meets the Company&rsquo;s investment criteria is available on attractive terms, the Company would
likely pursue a direct investment. As a result, it is expected that investments made through forward contracts will not comprise a significant
portion of the portfolio under normal market conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Summary Risk Factors (page <FONT STYLE="letter-spacing: -0.25pt">12)</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>17.</I></TD><TD STYLE="text-align: justify"><I>In the last bullet on page 12, the disclosure states &ldquo;the Adviser anticipates that, from time
to time, it and its affiliates may be named as defendants in civil proceedings which would consume time and resources and could jeopardize
the successful closing of transactions.&quot; To the extent you are aware of actual proceedings in which the Adviser or its affiliates
are named defendants the reference to &quot;may be named&quot; is incomplete and inappropriate. In addition to the disclosure currently
provided, please revise to disclose any actual litigation involving the Adviser and its affiliates, including the nature of the allegations.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt">&nbsp;<IMG SRC="es112_correspimg01.jpg" ALT=""></TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 8</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response: </B>The Company confirms that the Adviser
and its affiliates are not named as defendants in any civil proceedings that consume time and resources and jeopardize the closing of
any investment transactions. As previously disclosed, the parent company Destiny XYZ Inc. and the Company&rsquo;s Chief Executive Officer,
Sohail Prasad, were named as defendants in a matter involving Destiny XYZ Inc., but the Company does not believe that such litigation
will consume time and resources or jeopardize the ability of the Company to further pursue its investment activities. Further, neither
the Company nor the Adviser were named in such complaint. Therefore, the Company has not revised its disclosure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>18.</I></TD><TD STYLE="text-align: justify"><I>On page 14, in Risk associated with the forward security transactions, please disclose specifically
that these investments may not be recognized by their issuers and may ultimately have no value. Please also disclose in an appropriate
place any current legal uncertainties concerning these investments and any implications these may have on the <FONT STYLE="letter-spacing: -0.1pt">Company.</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company has revised its disclosure
on page 14 to indicate that such investments may not be recognized by their issuers and may ultimately have no value. The Company notes
that this disclosure is also found on page 36 under the sub-heading &ldquo;Portfolio company may object&rdquo; in the &ldquo;Risk Factors&rdquo;
section of the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>19.</I></TD><TD STYLE="text-align: justify"><I>On page 14, in the last bullet of Risk associated with the forward security transactions, the disclosure
states that the Company may purchase insurance &ldquo;[t]o mitigate some of the risks inherent in purchasing forward contracts.&rdquo;
Have you, or any of the SPVs the Company has invested in, actually purchased insurance on any positions? If so, disclose which ones in
appropriate locations within the registration statement.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response: </B> The disclosure highlighted by the
Staff references ways that the Company may mitigate its risk in connection with investments in forward contracts, which may include obtaining
insurance policies. As of the date hereof, the Company does not have insurance policies related to its investments in forward contracts;
however, it could seek to obtain such coverage in the future. The SPVs that the Company has invested in that hold forward contracts, however,
are beneficiaries of insurance policies purchased by their managers. There is no guarantee that this will be the case with respect to
SPVs that the Company invests in going forward.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Fees and Expenses (page <FONT STYLE="letter-spacing: -0.25pt">17)</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>20.</I></TD><TD STYLE="text-align: justify"><I>Please explain how the Management Fee noted in the Fee Table (2.44%) is less than the Management Fee
stated in the advisory agreement (2.50%) when the net assets used in the calculation are less than the base amount used for this calculation.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> Pursuant to the Investment Advisory
Agreement between the Company and Destiny Advisors, LLC (the &ldquo;Adviser&rdquo;), the management fees payable to the Adviser are calculated
using average gross assets. Pursuant to the requirements of Item 3 of Form N-2, management fees are calculated as a percentage of net
assets. Calculating the fee as a percentage of net assets rather than as a percentage of gross assets results in a fee lower than the
2.50% amount included in the Investment Advisory Agreement. The Company notes that it has included disclosure to this effect in footnote
(1) to the Fees and Expenses Table.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>21.</I></TD><TD STYLE="text-align: justify"><I>Please update the Management Fee in the Fee Table to 2.50% per the Investment Advisory Agreement. Please
ensure any changes are incorporated into the expense example, as applicable.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt"><IMG SRC="es112_correspimg01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 9</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response: </B>The Company directs the Staff to
its response to Comment #20.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>22.</I></TD><TD STYLE="text-align: justify"><I>The Staff notes that total expenses of the Company, as noted in the Financial Highlights, at 12/31/23
were 5.89%. The Staff further notes that the management fee included in the financial highlights was lower due to the lower rate used
to calculate the fee prior to its listing. Please reconcile amounts presented in the Fee Table to the Financial Highlights at 12/31/23.
In addition, please revise the Fee Table and/or footnote 4 to the Fee Table to align the discussion in the fee table to the amounts presented.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company believes that the numbers
in the Fees and Expenses table accurately reflect the fees and expenses that an investor would indirectly bear in connection with an investment
in the shares of the Company. Specifically, the Company believes that it is appropriate for the Fees and Expenses Table to include a management
fee calculation consistent with the terms of the Investment Advisory Agreement following listing of the Company&rsquo;s shares on the
NYSE. Please see the Company&rsquo;s response to comment No. 20 that explains the reason why the management fee as presented in the table
is less than 2.50%. The Company advises the Staff that the value used for &ldquo;Other Expenses&rdquo; is consistent with the values included
in the Financial Highlights table (2.62%) but also include the registration fees paid in connection with the shelf registration statement
(which equal 0.27%). The Company has added disclosure to footnote 4 to reference the SEC registration fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>23.</I></TD><TD STYLE="text-align: justify"><I>The Staff notes that when the warrants were written down in 2023, the write off increased the net assets
of the Company. As of 12/31/23, the amount was included in the net assets of the Company. Please discuss in correspondence whether this
amount is included in the management fee calculations after the Company&rsquo;s listing on the NYSE, as the Management Fee earned has
increased after the listing. Further, if the amount is factored into the Management Fee, please include a discussion of how the Adviser
is due any fees based on net asset increase based on the expired liability.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> Under the Investment Advisory Agreement,
following the listing of the Company&rsquo;s shares of common stock on the NYSE, which occurred on March 26,2024, the Company pays the
Adviser a management fee, payable quarterly, in an amount equal to an annualized rate of 2.50% of the Company&rsquo;s average gross assets,
at the end of the two most recently completed calendar quarters. For purposes of the Investment Advisory Agreement, the term &ldquo;gross
assets&rdquo; includes assets purchased with borrowed amounts, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As the write-off of the warrants liability resulted
in an increase in net assets, the gross assets were not impacted by the write-off. There is, therefore, no impact to the management fee
calculation as the gross assets were not impacted by the write-off.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>24.</I></TD><TD STYLE="text-align: justify"><I>Footnote 3 &ndash; Acquired Fund Fees and Expenses. Please confirm that the discussion in the footnote
is reflective of any expenses associated with the SPVs held by the Company.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company confirms that Footnote
3 to the Fees and Expenses table is accurate. The Company did not pay fees in connection with any of its SPV investments during the year
ended December 31, 2023. To the extent that there are upfront fees associated with an investment in an SPV, the capitalization of any
such management fees results in a day one unrealized loss on the investment as it&rsquo;s capitalized in the cost but not the fair value.
While certain of the SPVs in which the Company has invested charge ongoing fees or a carry, the Company paid no such fees during the year
ended December 31, 2023 and, therefore, believes that the values included in the Fees and Expenses Table are accurate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>The Company (page <FONT STYLE="letter-spacing: -0.25pt">18)</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt"><IMG SRC="es112_correspimg01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 10</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>25.</I></TD><TD STYLE="text-align: justify"><I>Please confirm in correspondence whether Principals of the Company and/or Adviser are Board Members
of the Portfolio Companies held by the Company, if applicable.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
none of its executive officers or employees of the Adviser are board members of any of the current portfolio companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Risks Related to Investing in the Company
(page <FONT STYLE="letter-spacing: -0.25pt">41)</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>26.</I></TD><TD STYLE="text-align: justify"><I>On page 42, in Exemptive Relief, the disclosure indicates that you intend to submit an exemptive application
to the SEC to permit the Company to co-invest with other funds managed by the Adviser or its affiliates. Please inform us of the anticipated
timing of that application.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company has revised its disclosure
to remove the referenced language. While the Company may submit an exemptive application to the SEC to permit it to co-invest with affiliates
in the future, there is no current intention to do so</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Certain U.S. Federal Income Tax <FONT STYLE="letter-spacing: -0.1pt">Considerations</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Taxation as a Regulated Investment Company
(page <FONT STYLE="letter-spacing: -0.25pt">65)</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>27.</I></TD><TD STYLE="text-align: justify"><I>In the fourth bullet, the disclosure notes that to qualify as a RIC for U.S. federal income tax purposes,
&ldquo;no more than 25% of the value of [the Company&rsquo;s] assets is invested in the securities&hellip;of one issuer.&rdquo; In light
of the current value of the Company's holdings in SpaceX, please explain to us how the Company intends to comply with this requirement
at the end of the upcoming quarter and each subsequent quarter in which the Company's holdings in SpaceX exceeds 25% of the value of the
Company's assets.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
Section 851(d)(1) of the Internal Revenue Code provides that if a RIC meets the Asset Test for a particular quarter and then falls out
of compliance in a subsequent quarter as a result of fluctuations in values of the underlying assets, the RIC will still not fail the
Asset Test for that subsequent quarter unless the noncompliance results, in whole or in part, from the acquisition of a security or other
property by the RIC and exists immediately after that acquisition. When the Company acquired its interests in SpaceX, the positions, in
the aggregate, comprised less than 25% of the Company&rsquo;s assets at the quarter end. Since such time, the fair value of the SpaceX
positions have appreciated in value, while other positions have decline in value. In order to maintain its RIC compliance, the Company
has not acquired additional positions in SpaceX and will not do so while the aggregate position in SpaceX exceeds 25% of the Company&rsquo;s
total assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Plan of Distribution (page <FONT STYLE="letter-spacing: -0.25pt">72)</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>28.</I></TD><TD STYLE="text-align: justify"><I>The disclosure in the first line of the first paragraph states &ldquo;We may offer, from time to time&hellip;our
common stock in one or more underwritten public offerings, at-the-market offerings, negotiated transactions, block trades, best efforts
or a combination of these methods.&rdquo; Please explain in the disclosure what &ldquo;negotiated transactions&rdquo;, &ldquo;block trades&rdquo;
and &ldquo;best efforts&rdquo; are with respect to the Company&rsquo;s offerings.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt"><IMG SRC="es112_correspimg01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 11</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company has revised its disclosure
accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>29.</I></TD><TD STYLE="text-align: justify"><I>The disclosure in the first line of the second paragraph states &ldquo;The distribution of the [Company&rsquo;s
securities] may be effected&hellip;at prevailing market prices at the time of sale, at prices related to such prevailing market prices,
or at negotiated prices&hellip;[emphasis added].&rdquo; Please clarify in the disclosure what each of these prices are and how they are
determined (in particular, what are prices &ldquo;related to&rdquo; prevailing market prices?). Also, please explain to us with whom,
and the circumstances in which, the Company may negotiate the stock price.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
prices that are related to &ldquo;prevailing market prices&rdquo; refer to sales made in connection with an ATM or an underwritten offering
of securities, where the sales price is related to but not necessarily equal to the closing market price. The Company notes that this
is standard practice across operating companies and investment companies alike and the language highlighted by the Staff is routinely
included in shelf registration statements. The reference to &ldquo;negotiated prices&rdquo; reflects the ability to sell shares directly
to one or more purchasers or sell shares through a financial intermediary at prices that do not equal the closing price on the NYSE but
are agreed to by the purchaser(s), the Company and the financial intermediary, if applicable. The terms of any such sales of shares would
be reflected in a prospectus supplement filed with the SEC. The Company has revised its disclosure to include disclosure related to the
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>30.</I></TD><TD STYLE="text-align: justify"><I>As the Company&rsquo;s NAV is determined quarterly, please explain to us how it will distribute its
securities in compliance with Section 23 of the Investment Company Act and the rules thereunder. In addition, please confirm our expectation
that you will disclose the NAV calculated to meet Section 23(b) requirements to investors in connection with the sale of your securities
or explain why such disclosure isn&rsquo;t necessary when sales are made at prices that may be substantially higher than NAV. Please ensure
your response addresses Section 17(a) of the Securities Act and other applicable requirements if you take the position that disclosing
NAV as of a recent date is <FONT STYLE="letter-spacing: -0.1pt">unnecessary.</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> Consistent with its disclosure in
the Prospectus, the Company calculates its NAV on a quarterly basis and discloses such NAV in its semi-annual reports or, to the extent
that no semi-annual report is required, disclosure on its website. For all quarters where one or more registration statement is effective,
the Company also supplements its prospectus(es) to provide an updated NAV each quarter. For example, the Company filed a prospectus supplement
on May 24, 2024 to disclose its NAV as of March 31, 2024 and posted such information to its website. Following the effectiveness of the
Registration Statement, the Company confirms that it will determine its NAV in compliance with Section 23(b) of the 1940 Act in order
to determine that it will not sell shares below NAV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>31.</I></TD><TD STYLE="text-align: justify"><I>Please update us as to any actions the Company has taken, or is considering taking, with respect to
the holders of warrants issued as part of the Company&rsquo;s private offering of <FONT STYLE="letter-spacing: -0.1pt">SAFEs.</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> As previously disclosed in correspondence
to the Staff, as of the date hereof, neither it nor any of its affiliates has current plans to conduct an offering or other transaction
that would impact former warrantholders. However, the Company reserves the right, subject to approval from its board of directors, to
conduct a private or public offering of debt or equity securities to existing holders or to new investors in the future so long as any
such offering is consistent with the federal securities laws. The Company further believes that previewing any future transaction or even
the possibility of such a transaction in a response letter that will be made public is not appropriate as it may have the effect of conditioning
the market for such securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt">&nbsp;<IMG SRC="es112_correspimg01.jpg" ALT=""></TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 12</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Description of Our Capital Stock (page <FONT STYLE="letter-spacing: -0.25pt">73)</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>32.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Please delete the phrase &ldquo;to the MGCL and&rdquo; in the penultimate line
of the introductory paragraph to this section.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company has revised its disclosure
accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Signatures (page C-<FONT STYLE="letter-spacing: -0.25pt">5)</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>33.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>We note that Lee Daley has signed your registration statement as an Independent
Director, however his name and biography were not included in your prior registration statement. Please tell us more about the process
by which he became a director and how his appointment or election was implemented and meets applicable NYSE and Investment Company Act
requirements. In addition, as the proxy statement you incorporated by reference does not contain current biographic or governance related
information that includes Mr. Daley you should revise your registration statement to include required information directly.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company notes that Mr. Daley&rsquo;s
appointment was disclosed in a prospectus supplement filed with the SEC on March 21, 2024. Mr. Daley was appointed to the Board and Audit
Committee in accordance with the Company&rsquo;s charter and bylaws by the then current members of the Board. The Board determined that
Mr. Daley was qualified to serve as a director and as a member of the Audit Committee, and that Mr. Daley was independent for purposes
of the 1940 Act and Exchange Act Rule 10A-3. On the date of listing, there were three members of the Audit Committee (Ms. Nelson, Mr.
Daley and Mr. Mason), each of whom is independent. The Company has notified the NYSE that it may be out of compliance with Section 16(a)
of the 1940 Act. NYSE Regulation advised the Company that it would not take any compliance action at the current time and will continue
to monitor. In order to remedy the violation of Section 16(a) of the 1940 Act, the Company has prepared and will be filing a proxy statement
related to a special meeting of shareholders seeking shareholder approval for the appointment of Lisa Nelson and Lee Daley and such proxy
statement will be incorporated by reference into the Registration Statement as part of the next pre-effective amendment to the Registration
Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Financial <FONT STYLE="letter-spacing: -0.1pt">Statements</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><I>General</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>34.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Please provide an update on the requested SAB 99 analysis related to the material
weakness discussions held with the Staff for the periods ended 12/31/23 and 6/30/22.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company supplementally provided
the requested SAB 99 analysis on May 28, 2024. As noted in the analysis, the Company determined that it does not have a controlling interest
in any of the SPVs in which it has invested nor is it an affiliate of any of the SPVs in which it has invested. Therefore, it has concluded
that it is not appropriate to consolidate any of the SPVs into the Company&rsquo;s financial statements. As a result, there were no errors
in previously filed financial statements related thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>35.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>The Company's website details the &quot;Current Portfolio&quot; but does not
indicate the date of measurement of the Company's holdings. The data appears to be consistent with the 12/31/23 financial statements.
Please confirm the date of these holdings and include a reference date in future publications of this data.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt"><IMG SRC="es112_correspimg01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 13</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company has revised the presentation
on its website to include a reference date for the holdings presented thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>36.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>If the date of the website disclosure is 12/31/23, please discuss how the presentation
is accurate, appropriate, and not misleading considering that the OpenAI investments were made subsequent to 12/31/23. Please include
in the discussion whether the Company had a signed agreement for the purchase of OpenAI Shares at 12/31/23.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
at December 31, 2023, the Company held an interest in DXYZ OAI I LLC, an SPV formed solely for the purpose of investing in securities
of OpenAI. As disclosed as a subsequent event in the audited financial statements contained in the Fund&rsquo;s annual report to shareholders,
on January 22, 2024, DXYZ OAI I LLC invested 100% of its capital in securities of OpenAI. The table on the Fund&rsquo;s website presented
the Fund&rsquo;s portfolio as of December 31, 2023 but also took into account the fact that the investment in securities of OpenAI, through
the investment in the aforementioned SPV, had taken place. As a result, the Company does not believe the presentation was misleading to
investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Manager&rsquo;s <FONT STYLE="letter-spacing: -0.1pt">Commentary</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>37.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>On page 2, in the first paragraph, the first sentence of the shareholder letter
references the total return from the Financial Highlights, but states the amount is from the change in unrealized gain/loss or appreciation/depreciation
on the Company's investments. If this amount was calculated based on the change in appreciation/depreciation of the investments, then
the total return would have been approximately -8.43%. Please discuss in correspondence why this sentence cites the Company&rsquo;s total
return, while ignoring other components of the calculation, including the write down of the warrants and the net income loss incurred
by the Company.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company acknowledges the Staff&rsquo;s
comment but does not agree that the statement regarding the change in value of the Company&rsquo;s investments for the one-year period
ended December 31, 2023 was misleading to investors. The return included is consistent with the total return included in the Financial
Highlights section of the annual report to shareholders and, while no disclosure related to the write down of the warrants or the fact
that the Company incurred a net loss, there is no requirement to include the type of detail requested by the Staff in letters to shareholders.
Immediately following the letter to shareholders is financial information about the Company that includes the items noted by the Staff.
To the extent that the Company cites its return for the prior one-year period in a letter to shareholders in future semi-annual reports,
it will be more precise regarding whether it represents the change in value of the portfolio or the total return.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Schedule of <FONT STYLE="letter-spacing: -0.1pt">Investments</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>38.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>The following investments are indicated as being held by the Company through
SPVs: Plaid, Stripe, Relativity Space, Space X, Epic Games, Bolt Financial, Impossible Foods (Series H), and DXYZ OAI I LLC (Open AI).
Per review of Form N-PORT at 12/31/23, the Company indicates 3 SPVs holdings, based on the identifier noted in the filing: Stripe &quot;Fund
FG RTA&rdquo;, Space X &quot;DXYZ SpaceX I LLC&quot; and OpenAI &quot;DXYZ OpenAI I LLC&quot;.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Please discuss in correspondence each
investment individually addressing the following questions. Please note, based on your responses, the Staff may have further questions
regarding these comments.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt">&nbsp;<IMG SRC="es112_correspimg01.jpg" ALT=""></TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 14</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 17.95pt">a.</TD><TD STYLE="text-align: justify"><I>Please discuss whether the SPVs are controlled by the Company, <FONT STYLE="letter-spacing: -0.1pt">specifically:</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 74.6pt"></TD><TD STYLE="width: 15.3pt">i.</TD><TD STYLE="text-align: justify"><I>whether the Company holds a majority interest in the <FONT STYLE="letter-spacing: -0.1pt">SPVs;</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 71.3pt"></TD><TD STYLE="width: 18.7pt">ii.</TD><TD STYLE="text-align: justify"><I>how such subsidiaries are not considered investment companies, as defined by the Investment Company
Act, when they appear to be investments;</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 67.95pt"></TD><TD STYLE="width: 22.05pt">iii.</TD><TD STYLE="text-align: justify"><I>the SPV arrangements for all entities, including how the entities are controlled; and</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 68.6pt"></TD><TD STYLE="width: 21.4pt">iv.</TD><TD STYLE="text-align: justify"><I>has the Company performed the quantitative calculations under Sections 3-09 and 4-08(g) of Regulation
S-X to ensure the financial information is appropriately summarized in the financial statements, or the attachment of the audited financials
of the SPVs.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Response:</B> The Company advises
the Staff that it does not control any of the SPVs in which it has invested. Pursuant to Section 2(a)(9) of the 1940 Act, &ldquo;control&rdquo;
is defined as the &ldquo;power to exercise a controlling influence over the management or policies of a company&rdquo; and further notes
that any entity that owns more than 25% of the voting securities of a company is presumed to have control over such company. The Company
has reviewed the governing documents of the SPVs in which it has invested and confirms that it has no voting rights thereunder. In addition,
it has no rights that allow it to exercise a controlling influence over the management or policies of such SPVs. The Company believes
that the manager that forms the SPV controls such SPVs as SPVs typically do not provide voting rights or other ability for members to
exercise influence over the manager. Since none of the SPVs are controlled by the Company, there is no basis to consolidate such SPVs
into the Company&rsquo;s financial statements, regardless of whether the SPVs are 3(c)(1) or 3(c)(7) funds. Finally, Rule 3-09 and 4-08(g)
relate to majority-owned subsidiaries that are not consolidated by the issuer. The term &ldquo;majority-owned subsidiary&rdquo; of a person
is defined under the 1940 Act as &ldquo;a company 50 per centum or more of the outstanding voting securities of which are owned by such
person&rdquo;. Since the Company does not own voting securities in any of the SPVs in which it has invested, such SPVs are not &ldquo;majority-owned&rdquo;
subsidiaries. Therefore, Rule 3-09 and 4-08(g) disclosures are not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Please discuss the presentation of these investments under US GAAP. Please include
specific references to Reg. S-X and relevant US GAAP to support this presentation. The discussion should include whether the SPVs are
consolidated (as presented) or that SPVs should be presented as investments by the Company.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Response:</B> Please see the
response to Comment #39 below. As noted, none of the Company&rsquo;s SPV investments have been consolidated within the presentation of
the Company&rsquo;s financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>For OpenAI, the vehicle appears to be a Company/SPV created to invest in OpenAI
and that this investment, at 12/31/23, only holds cash. Per the Notes to the Financial Statements, this investment wasn't made until January
of 2024. Please confirm in correspondence the nature of the investment at 12/31/23 (e.g. cash or equivalents).</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Response:</B> The Company advises
the Staff that at December 31, 2023, the Company held an interest in DXYZ OAI I LLC, an SPV formed solely for the purpose of investing
in securities of OpenAI. As disclosed as a subsequent event in the audited financial statements contained in the Fund&rsquo;s annual report
to shareholders, on January 22, 2024, DXYZ OAI I LLC invested 100% of its capital in securities of OpenAI. As of December 31, 2023, the
investment in the SPV consisted of cash contributed by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt"><IMG SRC="es112_correspimg01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 15</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Based on the conclusions reached for SPV consolidation, the Notes to Financials
will require disclosure regarding the basis of consolidation and details regarding the consolidated entities.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Response: </B>As noted, the
SPVs were not consolidated. As a result, no changes are required to the notes to the financial statements for any prior period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">e.</TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Based on the conclusions reached, the financial statements should be indicated
as <FONT STYLE="letter-spacing: -0.1pt">Consolidated.</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Response:</B> As noted, the SPVs were
not consolidated. As a result, no changes are required with respect to indicating that the financial statements for any prior period were
consolidated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">f.</TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Based on the conclusions reached, the Report of Independent Registered Public
Accountants should indicate that the various statements audited are consolidated.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Response:</B> As noted, the SPVs were
not consolidated. As a result, no changes are required with respect to the report of the Company&rsquo;s independent audit firm.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>39.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>If any of the SPVs held by the Company are determined to be affiliates (and
non- consolidated), please ensure that the required disclosures for investments are presented in accordance with Reg. S-X, Rules 12-14
and 6-07.1 in future shareholder reports.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company refers the Staff to its
response to Comment 38(a) above indicating that none of its SPV investments have been consolidated within the presentation of the Company&rsquo;s
financial statements. In addition, none of the SPVs meet the definition of an affiliate as defined in Section 2(a)(3) of the 1940 Act
as the Company does not own voting securities of the SPVs in which it has invested, neither the Company nor an affiliate serves as an
officer, director, partner, copartner or employee of any such SPVs nor does the Company or an affiliate serve as an investment adviser
to an SPV. In addition, the Company does not exercise any controlling influence over the management or policies of the SPVs. As a result,
the Company has not included disclosures in accordance with Reg. S-X, Rules 12-14 and 6-07.1. If an SPV is required to be consolidated
pursuant to the guidance in Reg. S-X, the Company will include appropriate disclosures in future semi-annual reports filed with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>40.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Footnote (f) to the SOI indicates that Bolt Financial is held through an SPV.
Further, Footnote (h) states that the investment is valued using NAV as a practical expedient. Please discuss in correspondence whether
the value of Bolt or the SPV (i.e. net asset value) was utilized for this investment.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
the Company&rsquo;s ownership interest in the net asset value of the SPV as of September 30, 2023, was used as the fair value for such
investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>41.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>The Staff notes that the value of Boom Technologies was held at par at 6/30/23
and has appreciated in value, as reported at 12/31/23. Please discuss in correspondence whether or how any premium or discount related
to the equity conversion feature has been considered in pricing Boom Technologies.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt">&nbsp;<IMG SRC="es112_correspimg01.jpg" ALT=""></TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 16</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
the fair value of Boom Technologies at December 31, 2023, as determined by the Adviser&rsquo;s valuation committee, which acts as the
valuation designee, was made pursuant to the valuation policies and procedures adopted by the Company&rsquo;s board of directors and utilized
by the Adviser&rsquo;s valuation committee. Each quarter, as part of the valuation process, the Adviser&rsquo;s valuation committee obtains
valuation reports for all positions held by the Company from an independent third-party valuation firm. The third party valuation firm
and the Adviser&rsquo;s valuation committee consider a number of factors in determining the fair value each quarter, including implied
valuations of the underlying portfolio companies determined in connection with financing rounds and financial statements and other financial
information related to the portfolio company. The fact that the Company holds a convertible note that has a conversion feature to equity
of Boom Technologies is a factor considered by both the third party valuation firm and the Adviser&rsquo;s valuation committee. The Company,
however, does not believe it is appropriate to publicly provide details related to the valuation of Boom Technologies at December 31,
2023, since the valuation is based on information not in the public realm and the position is less than 5% of the Company&rsquo;s investment
portfolio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>42.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Certain investments, such as Class Dojo, Public Holdings and Brex appear to
have stale prices. Please discuss in correspondence how these investments have not had any price movement since the semi-annual report
and earlier dates. Please include considerations of ASC 820 in your response to support the valuation presented in the Schedule of <FONT STYLE="letter-spacing: -0.1pt">Investments.</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
all of its investments are reviewed on a quarterly basis by the Valuation Committee. In addition, an independent third-party valuation
firm provides proposed valuations on all of the Company&rsquo;s investments each quarter, which may include prices that are unchanged
from the previous quarter. Absent any relevant portfolio company news, secondary transactions, or other inputs to be considered each quarter,
it is possible a price may go unchanged for an extended period of time. The Valuation Committee discusses these unchanged prices internally
and with the third-party valuation firm each quarter to determine if there is a more appropriate valuation that should be considered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>43.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Per the footnotes to the SOI, the exposure to Plaid and Stripe appears to be
derivative contracts held within a consolidated SPV. If GAAP supports this presentation (i.e. consolidated), please discuss why the Company
has not presented the derivative contracts utilizing the disclosures required by both Reg. S-X and ASC 815. In addition, certain disclosures
may be required under ASC 210 and related GAAP and have not been <FONT STYLE="letter-spacing: -0.1pt">included.</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
its SPV investments are not consolidated within its financial statements. As such, the derivatives requirements referred to by the Staff
are not applicable. Please see the Company&rsquo;s response to Comment #34.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.35pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>44.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Restricted Securities: The Company may hold indirect investments, as opposed
to holding the investments directly through control of various SPVs. Please include additional disclosure for this table, as many of the
investments are not directly held and/or indirectly held derivative contracts. While these indirect instruments have restrictions as noted,
there are additional barriers to the investments.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company undertakes to include
additional disclosures in future semi-annual reports filed with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><I>Statement</I> of <I>Assets and <FONT STYLE="letter-spacing: -0.1pt">Liabilities</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>45.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Please discuss in correspondence whether the warrants have been written off
subsequent to12/31/23. If not, please discuss why this loss has not been realized. Include in the discussion the tax impact of this unrealized
amount in net assets including any benefit of not writing off the warrants. Further, please discuss whether there are any legal implications
associated with the expired warrants.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt">&nbsp;<IMG SRC="es112_correspimg01.jpg" ALT=""></TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 17</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
the warrants were written off prior to December 31, 2023 and such write off was included in the audited financial statements included
in the Company&rsquo;s N-CSR filed with the SEC. The Company further advises the Staff that there was no tax impact associated with the
write off of the warrants. As the warrants did not have any cost basis, there was no realized gain from such write off. The financial
statements reflect the change in fair value of the warrants from $3,571,824 to $0 after the write off. The Company is not aware of any
threatened legal action related to the terminated warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>46.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Please discuss in correspondence how the Company has accrued interest receivable
greater than the amounts of interest reported in the Statement of Operations.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
the interest receivable included in the &ldquo;Statement of Assets and Liabilities&rdquo; reflects income receivable for both 2022 as
well as 2023. Pursuant to the terms of the purchase agreement with the portfolio company, such payments were not required to be made during
the relevant period and, as a result, the portfolio company is not in default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Statement of <FONT STYLE="letter-spacing: -0.1pt">Operations</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>47.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Please confirm in correspondence whether the unrealized appreciation recorded
to the Company related to the write down of the warrants impacted the management fees earned by the Adviser.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company respectfully refers the
Staff to the response to Comment #23.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Statement of Cash <FONT STYLE="letter-spacing: -0.1pt">Flows</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>48.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>The statement of cash flows has a line item labeled &quot;Paid to Shareholders&quot;
in the amount of $75,000. Please discuss in correspondence what this amount represents as the Company has not paid distributions during
the fiscal year ended 12/31/23. Include in the discussion why this amount is not considered an affiliate transaction requiring further
<FONT STYLE="letter-spacing: -0.1pt">disclosure.</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The &ldquo;Paid to Shareholders&rdquo;
line item represents a repayment to a shareholder who inadvertently funded his investment in SAFE Notes twice. This duplicate payment
occurred as part of the Company&rsquo;s private offering of SAFE Notes, which occurred prior to the Company&rsquo;s registration as an
investment company in May 2022. The shareholder who made the duplicate payment is not an affiliate of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><I>Financial <FONT STYLE="letter-spacing: -0.1pt">Highlights</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 18pt"><I>49.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>For the period ended 12/31/22, please discuss in correspondence how the Total
Return was calculated, as the Staff notes that the beginning NAV shows a deficit by the Company. Further, in future shareholder reports
please revise the footnote to this calculation to explain the components of the calculation. For example, please add attributes related
to the losses from operation, and the impact of the SAFEs conversion and anti-dilution impact of the share issuance/stock split. These
additional details allow investors to gain a better understanding of the return cited in the Financial Highlights.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt">&nbsp;<IMG SRC="es112_correspimg01.jpg" ALT=""></TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 18</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company advises the Staff that
the total return included in the Financial Highlights was calculated using the absolute value of the initial net asset value due to a
negative net asset value as of January 1, 2022. The total return for the Company was calculated for shareholders that owned shares for
the entire period and, therefore, did not represent returns of holders of SAFE notes that were converted to shares of common stock in
May 2022. Please see Footnote 6 that includes such information. The Company further notes that realized gains/losses and unrealized appreciation/depreciation
of its assets impact net asset value and is, therefore, included in the total return. With respect to the reverse stock split, that impacted
Destiny XYZ Inc. only, which was the sole stockholder at the time of the split. Since it did not result in dilution to former SAFE holders,
the Company does not believe it is material to highlight it in the total return calculations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>Notes to Financial <FONT STYLE="letter-spacing: -0.1pt">Statements</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>50.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Footnote 2(a). The Staff notes the following statement in the NTF in relation
to the forward contracts held by the Company: &ldquo;Measures the Company takes to mitigate these risks, including powers of attorney,
specific performance and damages provisions, any insurance policy, and legal enforcement steps, may prove ineffective, unenforceable,
or economically impractical to enact.&rdquo; Please discuss in correspondence what insurance policies exist to mitigate the risks cited.
Please include an assessment of whether the policies should be considered assets of the Company and reasons supporting this assessment.
Please include in this assessment the accounting treatment of these policies and how any expenses related to the policies flow through
to the financial statements (i.e. adjustment to cost or expense).</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The disclosure highlighted by the
Staff references ways that the Company may mitigate its risk in connection with investments in forward contracts, which may include obtaining
insurance policies. As of the date hereof, the Company does not have insurance policies related to its investments in forward contracts;
however, it could seek to obtain such coverage in the future. The SPVs that the Company has invested in that hold forward contracts, however,
are beneficiaries of insurance policies purchased by their managers. There is no guarantee that this will be the case with respect to
SPVs that the Company invests in going forward.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>51.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Footnote 3 &ndash; Fair Value Measurements, page 17. The Company discloses the
following: &ldquo;The investments in an SPV that have yet to purchase the underlying securities are held at cost and are categorized as
Level 3 in the fair value hierarchy.&rdquo; Please discuss in correspondence how this statement conforms with US GAAP. Include in the
discussion references to appropriate US GAAP related to valuation and rights and obligations of the <FONT STYLE="letter-spacing: -0.1pt">Company.</FONT></I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company notes that the SPVs it
invests in are formed for the sole purposes of pooling capital in order to purchase securities of a single private issuer. The fair value
of SPV investments where the SPV has not yet purchased the underlying security is estimated using the cost basis of the transaction, which
is the value of the cash used to fund the investment. Since there is generally not a significant period of time between investing in an
SPV and the SPV investing in the underlying security, the Company believes that this is the most appropriate measure of fair value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>52.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Footnote 3 &ndash; Fair value Measurements, page 17 / Footnote 5a, page 21.
The following disclosure is noted for the management fees from the SPVs associated with the Company: &quot;If an SPV charges management
fees, those fees will adjust the cost of the SPV.&quot; Please discuss in correspondence how this treatment conforms with the Investment
Company Act. Also, footnote 5(a), page 21, includes a reference to SPV management fees. Also, please confirm in correspondence whether
these management fees were applied as cost adjustments to the SPV vehicles, as indicated on page 17.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt">&nbsp;<IMG SRC="es112_correspimg01.jpg" ALT=""></TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 19</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> As disclosed in Note 5(a) to the
notes to the Fund&rsquo;s audited financial statements for the year ended December 31, 2023, the Fund paid $0 in management fees in connection
with its investments in SPVs. Therefore, no cost adjustments were made to the investments in SPVs. The Company evaluated and followed
the guidance set forth in ASC 946-320-30-1 and ASC 820-10-35-9B in connection with the treatment of these fees. Please also see the Company&rsquo;s
response to comment No. 24.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>53.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Footnote 5a - The management fee calculation uses the term &quot;invested capital&quot;.
In future financial statements please include a definition of this term. Further, please confirm in correspondence whether &quot;invested
capital&quot; refers to the amounts invested (i.e. cost) or is adjusted for appreciation/depreciation of investments.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Fund undertakes to include a
definition of invested capital in future financial statements. Invested capital refers to the amounts invested (i.e. cost).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>54.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Footnote 6 -The Company states that there are no unfunded commitments as of
12/31/23. As the Company holds several SPV positions, please supplementally confirm that this statement covers commitments to the SPVs.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company confirms that its statement
that there were no unfunded commitments as of December 31, 2023 includes its investments in SPVs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>55.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Footnote 9 - Please discuss in correspondence whether any investments were impacted
by the early adoption of ASU 2022-03.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Fund advises the Staff that the
early adoption of ASU 2022-03 impacted one of its portfolio investments &ndash; specifically, its investment in Maplebear Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.6pt 0 0; text-align: justify"><U>Form N-<FONT STYLE="letter-spacing: -0.2pt">PORT</FONT></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>56.</I></TD><TD STYLE="text-align: justify; padding-right: 0.85pt"><I>Certain investments included in the 12/31/23 Form N-PORT filing appear incorrect.
Specifically, Plaid is reported as an equity investment, while the financial statements report this investment as a forward agreement.
Further, OpenAI is presented as an investment, but the financial statements disclose that the investment was made after 12/31/23. Based
on these observations and conclusions reached from comment #38, please file an amended Form N-PORT that presents all investments accurately
and aligns with the schedule of investments contained in Form N-CSR or any restated financial statements and amended Form N-CSR.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Response:</B> The Company respectfully advises
the Staff that it does not believe that filing an amended N-PORT is warranted. With respect to its investment in Plaid, the Company notes
that its investment is in the SPV that holds forward contracts of Plaid. In the Company&rsquo;s annual report on Form N-CSR, the Staff
is correct that the schedule of investments lists the Plaid investment in the category entitled &ldquo;Agreement for Future Delivery of
Common Shares,&rdquo; however, the entry for Plaid also refers to footnote (d) which makes clear that the investment in the forward contracts
is made through an SPV. The Company believes that the most appropriate way to characterize this investment using the drop-down menu options
found in N-PORT is as an equity investment. With respect to OpenAI, the Company notes that while the cash held in the SPV was used to
make the investment in interests in OpenAI after December 31, 2023, such transaction occurred in January 2024, prior to the time the N-PORT
was filed. When the N-PORT was filed, there was no uncertainty as to whether the transaction would be funded. In both cases, the fair
value and all other information regarding the investments is accurate. The Company believes that amending the N-PORT to solely reflect
the fact that the OpenAI investment by the SPV had not yet closed as of December 31, 2023 (but had closed prior to the filing of the N-PORT)
would not be meaningful to investors and would be costly, with such costs to be borne indirectly by shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; font-size: 10pt">&nbsp;<IMG SRC="es112_correspimg01.jpg" ALT=""></TD>
    <TD STYLE="width: 26%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Karen Rossotto, Senior Counsel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 24, 2024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 20</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">If you have any
questions or additional comments concerning the foregoing, please contact me at (202) 383-0262.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt">Sincerely,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">/s/ Owen J. Pinkerton</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">Owen J. Pinkerton</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">cc:</TD><TD STYLE="text-align: justify">Steven B. Boehm, Esq., Eversheds Sutherland (US) LLP</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">David Manion, Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Sohail Prasad, Destiny Tech100 Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
