01 · Reserve asset
TAO reserve asset
We hold TAO, the token of Bittensor, as a core, yield-bearing asset. It is the coordination asset of the whole network: every subnet trades against TAO, and staking earns protocol yield.
Two core investing activities
TAO for the whole network. Subnets for the upside.
02 · Subnet investing
Subnet investing
We back decentralized AI startups (subnets) within the Bittensor ecosystem: active selection of high-conviction subnets, private deals sourced directly with founders, and on-chain liquidity kept for active management.
Your access point to decentralized AI
Four structural advantages no passive holder or generalist fund can replicate
01
Subnet selection, not passive exposure
Active positions across decentralized AI infrastructure and applications, staking and ecosystem opportunities, continuously optimized.
02
Proprietary deals and OTC discounts
Private, over-the-counter deals with founders, sourced through deep relationships across the ecosystem.
03
Institutional DNA in a new category
Investment banking and private equity backgrounds: risk management, reporting and compliance from day one.
04
Platform and information asymmetry
Media reach through This Week in Startups and The Hash Rate, and an early view few institutions have taken yet.
Why a fund, not a wallet
Bittensor (TAO) exposure, without the operational work
Owning TAO directly means managing wallets and keys, choosing validators, staking, and keeping up with a protocol that changed its core economics several times in 2026 alone. Backing subnets adds diligence on founders, private deal access and on-chain execution. Stillcore does that work for its investors, and publishes the research behind it.
- 01Open-end, evergreen fund
- 02Offered under Rule 506(c)
- 03Verified accredited investors only
- 04TAO staking managed for you
- 05Subnet positions, many bought OTC from founders
- 06Research published in full
How to invest
From first call to subscription
01
Book a call
A conversation with Rob Greer about the fund, the strategy and fit.
02
Verify accreditation
Interests are offered only to verified accredited investors, as Rule 506(c) requires.
03
Review the documents
The fund overview on DocSend, then the confidential offering documents, shared directly.
04
Subscribe
Subscribe through the offering documents; we handle the TAO, the staking and the subnets.
For accredited investors only.
Fund Overview & ResearchOur fund deck, for accredited investors. It opens on DocSend once you enter your email.
Open the fund overviewCommon questions
The fund, explained
What role does Stillcore play in the Bittensor ecosystem?
Stillcore is a U.S.-based, open-end, evergreen fund offered under Rule 506(c) that participates actively in the Bittensor network. The fund acquires and stakes TAO and backs emerging decentralized AI startups through subnets. By pairing technical and financial resources, Stillcore supports the growth and integrity of decentralized AI infrastructure.
How is Stillcore different from holding TAO directly?
Holding TAO is passive. Stillcore manages its participation actively: it allocates capital to promising subnets, stakes for protocol yield and supports critical infrastructure, and investors hold it with no wallets, custody or staking to manage. The aim is long-term capital appreciation through deep engagement with the protocol's evolution and governance.
How is a Bittensor fund different from a Bittensor ETF or trust?
Exchange-traded products and trusts that hold TAO give passive exposure to the token, where they are available. Stillcore is an actively managed fund: we hold TAO as the reserve asset and also back individual subnets, including through private, over-the-counter deals with founders that are not available on an exchange.
Who are Stillcore’s service providers?
The fund runs on institutional rails, under signed agreements. BitGo provides custody and OTC trading, FalconX provides subnet custody and staking, and Kraken is a backup custodian. NAV Consulting is the fund administrator and Cartesian handles fund accounting. Cohen & Co audits the fund and prepares its tax filings, and Horizons Law is fund counsel. The management company also carries directors and officers, errors and omissions, and cyber insurance.
How are investor assets held?
The fund’s TAO and subnet tokens are held with institutional custodians, not in a partner’s personal wallet, and the administrator, not the manager, keeps the fund’s books and investor records. Investors hold an interest in the fund, so there are no wallets or keys to manage.
Who can invest in the fund?
Interests in the fund are offered only to verified accredited investors, and only through the fund's confidential offering documents. Open the fund overview or book a call to start.
What are subnets, and why do they matter to Stillcore's strategy?
Subnets are specialized markets within the Bittensor network. In each one, AI models compete to provide a specific service, such as inference, search or data processing, and the network rewards the best work. Stillcore tracks promising subnets as they emerge and contributes to their growth where it is technically and strategically aligned. How subnets work.
How is Stillcore governed and managed?
Stillcore operates as an open-end, evergreen fund under Rule 506(c), managed by partners with experience across finance, blockchain and artificial intelligence. The structure sets clear operational and fiduciary responsibilities, and investment decisions draw on performance analytics, subnet engagement and developments in the Bittensor protocol.
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