R5
Frontier
Earliest Stage
Genesis
Mandate
Genesis opened with the protocol on 11 March 2026 and writes the earliest cheque HOH® will write. Six positions, $43.6M committed, every one of them entered before the company had a public price. It is the smallest vault in the book and the one that will decide what the book is worth in 2032.
The mandate is variance. Genesis buys the round nobody else will underwrite, sizes it so a total loss costs the House 2.2% of deployed capital, and then does nothing for seven years. There is no rebalance, no partial exit and no mark-to-market comfort. The vault carries an 84-month lock-up because that is how long the strategy actually takes.
Carrying Mark
2.74× on cost
Capital Deployed
$43.6M in this vault
Risk Tier
R5 · Frontier
Capacity
54.5% of $80.0M
Members
37 allocating
Lead Exposure
Applied AI at 41%
Lock-up
84 months
Capital deployed
$43.6M
Capacity
$80.0M
Carrying mark
2.74×
Members
37
Risk
This is the highest tier in the House and it is rated as one. Genesis is marked at 2.74× cost, the strongest mark on the book, and that number is an estimate written by a valuation committee rather than a price set by a buyer. Members are told that before they allocate, and the mark is republished every epoch with the round that set it.
Two of six positions are expected to return nothing. That is the base case, not the failure case. The vault is isolated: a write-down here cannot reach Reserve, cannot reach Anchor and cannot trigger a gate anywhere else in the House. 37 members hold it on those terms, and the terms are on chain.