Terms & Conditions

These terms govern access to ELPE Circle at elpe.ai (the “service”), a professional peer community for private-market allocators. “ELPE”, “we” and “us” refer to the operator of ELPE Circle. Read these terms with our Privacy Policy and house rules. If you do not agree to the terms and house rules, do not apply or use the member service.

1. Membership and eligibility

You must be at least 18, provide accurate professional information, and be authorized to share the information you submit. Membership is intended for allocators, including family offices, pensions, sovereign funds, endowments and foundations, insurance and financial institutions, and funds of funds.

Applications pass an email-domain filter and require administrator approval. Applying, receiving an email, or resetting a password does not grant membership. Approval reflects our membership review; it is not an endorsement, background-check guarantee, or verification of every claim made by a member. Do not misrepresent your identity, employer, authority or qualifications.

2. Your account and access

Personal invitations: approved members start with three invitations, subject to administrator adjustment. Invite only professional peers you know, with permission to provide their work email and relationship context. Do not sell invitations, post links publicly or use them for spam. Each invitation is bound to one work email and expires after 14 days if unused. Unused expired or withdrawn invitations release their reserved slot; submitted invitations remain used, even if an application is declined or its referral withdrawn. There is no automatic replenishment. Active member introductions receive priority review, not guaranteed admission or a response deadline. Administrators may pause invitation privileges or withdraw a referral to protect the community. All applicants remain subject to the domain filter and human approval.

New personal invitations include automatic mutual sharing of your names, work email addresses and companies or institutions. When a new applicant joins through your invitation, verifies their email and is approved for membership, each contact card is added to the other person’s private Contact List. There is no separate contact-exchange confirmation step. Invite people you know; this feature is not permission to invite strangers or distribute contacts outside the service.

Use your own account, keep your password private, and do not sell, transfer or share access. Report suspected compromise promptly through account help. Use the recovery process if you forget your password. A pending application remains pending, and a suspended account remains restricted, regardless of a password-help request.

A work email does not automatically give your employer access to your Circle account or private activity. Your own employment, regulatory and confidentiality obligations still apply.

3. Professional exchange—not investment advice

Participation milestones and “Useful” appreciation are community features, not professional qualifications, investment recommendations or platform verification. Do not coordinate artificial appreciation or create accounts to manipulate it. Progress does not confer admission, investment credibility or administrative access. A separately enabled contribution policy may grant limited bonus invitations, never automatic admission. Insightful endorsements wait seven days, are capped per peer and discussion, and can be reversed. Staff and test activity is excluded. Recognition badges are feedback labels, not credentials. Reward capacity may pause after credit or eligibility changes; issued invitations remain subject to normal vetting and invitation rules. Milestones reflect currently eligible activity and can change when contributions are hidden, removed or appreciation is withdrawn.

Member contributions express their authors’ views. ELPE Circle provides a discussion service, not personalized investment, legal, tax or accounting advice, a brokerage service, or a facility for executing transactions. Posts are not an offer or solicitation to buy or sell an investment. Do your own diligence and obtain appropriate professional advice before making decisions.

We do not verify every post, guarantee its accuracy, or endorse members, firms, funds or external links. Distinguish first-hand experience, interpretation and opinion from established fact.

4. Confidentiality and acceptable conduct

• Do not share material nonpublic information, confidential fund or investor information, privileged communications, trade secrets, or anything you lack permission to disclose.
• Do not post harassment, threats, hate, impersonation, doxxing, another person’s private contact details without permission, defamatory material or unsupported allegations about identifiable people.
• Do not engage in spam, undisclosed promotion, market manipulation, unlawful coordination or solicitation. Disclose relevant commercial interests when contributing.
• Do not scrape member data, bypass access controls, evade moderation, introduce malware, share accounts, or use bots to imitate genuine members or manufacture activity.
• Do not republish member discussions or screenshots outside the permitted audience without the relevant authors’ permission, except where disclosure is legally required or otherwise protected by applicable law.

5. Personas, discussion audiences and pseudonyms

Current Circle Network and GP forum contributions use personas. Members have one active persona; the service owner may use multiple. You may rotate to a fresh available name, but retired names cannot be reclaimed or used by another member. Existing contributions keep their original attribution and remain linked privately to the same account.

Circle Network audiences can expand through replies to include the replier’s connections and their connections, with access to the whole thread. New connections can also receive access to earlier conversations involving their eligible first- and second-degree connections. Disconnection does not withdraw access already granted; blocking, membership eligibility and moderation still apply. A GP forum post is a separate allocator-wide contribution when that forum is open. Tagging a GP in a private discussion does not broaden its audience. GP employees and other ineligible non-allocators are not admitted through this feature.

Legacy Backchannel displays a thread-specific alias instead of your named profile. This is pseudonymity, not absolute anonymity. The service retains a link between your account and your contributions; authorized operators may access underlying records for security, moderation, support or legal obligations as described in the Privacy Policy.

Do not attempt to identify or expose another member behind an alias. Wording, context or other members’ actions can reveal identity despite technical controls. A private audience and house rules cannot guarantee that information will never be copied or disclosed. An alias does not excuse misconduct or remove confidentiality obligations.

6. Your content and our limited permission

One-to-one messaging is optional and separate from email-sharing introductions. Respect contact requests, refusals and blocks. Private messages remain subject to the house rules and your confidentiality obligations. There is no administrator inbox viewer, but messages are not end-to-end encrypted and privileged system operators can access stored records. Archiving or blocking does not erase another participant’s existing messages or backup copies.

You can separately choose to share a contact card in an accepted conversation. Review the selected fields before confirming: the recipient will receive those details and they will be saved into that person’s Contact List. Share only your own details through this control. Contact sharing does not authorize unsolicited promotion, onward publication or bulk collection of member information, and cannot recall information someone has already received or copied.

You retain your rights in the content you contribute and are responsible for having the necessary permissions. You grant ELPE a non-exclusive, worldwide, royalty-free license to host, store, reproduce, format and display that content to its permitted audience, and to process it as reasonably necessary to operate, secure, moderate and back up the service.

This permission does not authorize selling your private posts, publishing them to the open web, or using them to train general-purpose AI models. Service providers may process content only as needed to perform their service for us. Backup, dispute or legal retention may continue after a removal request where necessary and lawful; see the Privacy Policy.

ELPE and its licensors retain their rights in the website, branding and software. Feedback about the product may be used to improve it without transferring ownership of your community contributions.

7. Moderation, reports and review

For a private-message report, review the selected messages and complaint before submitting. You are disclosing that evidence to authorized moderators, not granting access to the rest of the conversation. A report does not automatically delete a message or block another member; use the separate blocking control when you want to stop further contact.

Use the report action on a thread or reply, or contact us through the help page, to flag abuse, confidentiality concerns or copyright issues. Include enough information to locate the material and explain the concern; do not send unnecessary confidential documents. We may restrict access, hide content, investigate reports and preserve relevant records to protect the community or meet legal obligations.

Moderation is not continuous pre-screening and does not guarantee that every breach will be detected. If you believe a decision was mistaken, contact us to request review. You can also request account closure; removing access and deleting retained records are separate processes.

8. Fees and third-party services

The current Circle release does not collect payment or create a paid subscription. No Elpe-Quant subscription or billing authorization carries over. Any future paid offering will require separately disclosed pricing and terms before you agree to a charge.

External websites or event services have their own policies. Visiting an external link does not authorize the external service to access your private Circle account.

9. Availability and responsibility

This is an early release. Features may change, maintenance may interrupt access, and planned features or design-preview examples are not promises of availability or evidence of real members. The service is provided as available, without a guarantee of uninterrupted access or error-free member content.

To the extent permitted by applicable law, ELPE disclaims implied warranties and responsibility for indirect losses resulting from use of the service. Nothing in these terms excludes liability or rights that cannot lawfully be excluded, or responsibility that applicable law requires us to accept. No special arbitration requirement, court selection or monetary liability cap is introduced by this early-release adaptation.

10. Changes and contact

We will publish revisions with an updated date and provide appropriate notice of material changes before they apply, except where an urgent safety or legal change requires otherwise. New processing or permissions will not be treated as retrospectively authorized merely because you accepted an earlier version. Contact us through membership help about these terms.