Vehicle realized a 3.86× net DPI and 4.60× gross MOIC over an approximately eight-month investment period.
MIAMI, May 19, 2026 /PRNewswire/ — Junipero Capital, a technology-focused investment firm with a long-term, fundamentals-driven approach, today announced the successful and full liquidation of its second Hedge Series vehicle, Junipero Capital Hedge II LLC. The vehicle delivered a gross return of 4.60× MOIC and a net return of 3.86× DPI after applicable management fees and carried interest, over an investment period of approximately eight months from September 2025 to May 2026.
Hedge II was structured around two contrarian assumptions at the time of investment: that demand for AI infrastructure was real and durable rather than speculative, and that the binding constraint on AI compute deployment would be access to energized power infrastructure — the electrical grid — rather than the availability of advanced semiconductors. Market developments during the investment period were broadly consistent with those assumptions.
The fund took leveraged long exposure to a concentrated basket of public-equity issuers in the process of converting Bitcoin-mining infrastructure into AI-focused high-performance computing (“HPC”) data centers. Position selection prioritized companies with the most approved grid capacity ready for HPC conversion, the strongest hyperscaler and AI-customer partnerships, and clear timelines to bring contracted capacity into production.
“Hedge II was designed to capitalize on a specific, time-bound dislocation in public technology markets,” said Ignacio Vilela, Managing Partner at Junipero Capital. “The thesis materialized over the vehicle’s life, but the performance of this specific vehicle should not be interpreted as indicative of future returns from any subsequent strategy. Concentrated, short-duration strategies of this type carry significant risk, and outcomes are highly dependent on entry conditions that may not be repeatable.”
Hedge II follows Junipero Capital Hedge I LLC, the firm’s prior vehicle in the Hedge Series, which was fully liquidated in July 2025 with a 1.93× net return over a 2.5-month investment period. The Hedge Series operates as a tactical sleeve within Junipero Capital’s broader investment platform, with each vehicle structured as a concentrated, time-bound exposure to a distinct technology thesis.
Through its various vehicles, Junipero Capital has previously invested in technology companies including Stripe, SpaceX, CoreWeave, Scale AI, Groq, Notion, and Blockdaemon, among others.
Junipero Capital oversees more than $50 million across its investment vehicles, based on aggregate assets as of the date of this communication, from a diversified base of private and institutional investors.
Disclaimer: This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities, fund interests, investment advisory services, or other investment products. Junipero Capital does not currently have any open investment offerings and is not soliciting capital through this communication. Past performance is not indicative of future results. Performance figures reflect realized outcomes for Junipero Capital Hedge II LLC, a single fully-liquidated investment vehicle, over the stated period. Performance figures are unaudited and have not been independently verified. Net figures are shown after applicable management fees and carried interest. “MOIC” refers to multiple on invested capital; “DPI” refers to distributions to paid-in capital. The results described herein do not represent the performance of all Junipero Capital vehicles, accounts, or investments, and no investor should assume that future Junipero Capital vehicles or strategies will achieve comparable results. The strategy employed by Hedge II involved concentrated public-equity exposure and leverage, which magnify both gains and losses and may result in substantial or total loss of capital. References to prior vehicles are provided for historical context only; each vehicle is structured independently and operates under distinct strategy parameters. Position-level information regarding portfolio holdings is not disclosed in this communication and would not constitute a recommendation to buy, sell, or hold any security. Junipero Capital and its affiliates may currently hold long or short positions in securities referenced or implied through other vehicles.
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SOURCE Junipero Capital
