Studio b. LMM Bridge Fund I · LP entry
The Studio b. LMMI is the open methodology that underwrites the fund's strategy. The flagship product is what the model designed. The backtester lets you run the product against historical model outputs and verify the logic yourself. Accreditation unlocks access.
Verify accreditation → Read methodology →§01·THE MODEL
The sub-$25M EBITDA private credit segment has no public benchmark. Studio b. built one. The Studio b. LMMI is the live methodology that underwrites the fund's strategy — published, versioned, and updated quarterly against the eligible BDC universe.
The model exists because the decision logic has to be auditable. When the model's view of the segment changes, the strategy changes with it. Each version of the LMMI retunes the approach. That's the point.
LPs don't invest because they trust instincts. They invest because they can read the reasoning and run the numbers themselves.
§02·THE FLAGSHIP PRODUCT
The model's output is a specific credit product — not a general fund strategy. The specifications below are what Studio b. underwrites in the lower middle market.
The conversion right is the signature feature. If the borrower can't refinance at maturity, the principal converts to equity at the greater of 4× trailing EBITDA or the original deal valuation. The loss case becomes the ownership case. The model says this structure performs in this segment. The backtester is where you verify that.
§03·THE BACKTESTER
The backtester runs the same model that designs the live strategy. Apply your own PD, LGD, gross spread, and allocation assumptions to historical model outputs and see what the strategy would have returned under your scenarios.
This is what LPs are actually getting access to. Your model runs inform how Studio b. thinks about the segment. The backtester is the audit trail in motion.
Access is gated by Rule 506(c) self-attestation. The form in §04 verifies eligibility.
§04 · Rule 506(c) · Accredited self-attestation · Backtester access
We don't send a deck. We share access to the LMMI backtester — apply your own assumptions to thirty years of cross-jurisdictional default and recovery data, and see how the strategy would have performed against your scenarios. Your model runs sharpen our thesis. Fund I is offered under Rule 506(c) of Regulation D — public solicitation of accredited investors is permitted, and subscription requires third-party verification of accredited status prior to investment. Backtester access is shared after self-attestation and a brief introduction.
Check the box to reveal the backtester request form ↓
Step 2 — Tell us where to send it
A member of the Studio b. team will follow up within one business day to share LMMI backtester access, supporting documentation, and an introductory call.
Disclosure
Fund I is offered under Rule 506(c) of Regulation D, which permits general solicitation of accredited investors. Any subscription will require third-party verification of accredited status as defined in Rule 501(a). This page is informational only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. Any offering will be made solely to verified accredited investors via final fund documentation (PPM, LPA, subscription documents). Past performance is not indicative of future results. Forward-looking statements are subject to risks and uncertainties — actual results may differ materially.