BLUE VENTURE FUND
TERMS OF USE
Last Updated: August 1, 2025
Thank you for visiting www.blueventurefund.com (the “Site”), owned by Blue Cross Blue Shield Association(“BVF”) and managed by 213 Management, LLC (“Sandbox,” and together with BVF “we,” or “us”). By using or accessing the Site in any manner, you hereby agree to these Terms of Use (the “Terms”), which incorporates the Privacy Policy.
1. Use of the Site.
In order to use our Site, you must have access to the Internet, pay any service fees associated with such access and provide all equipment required to make such connection to the Internet. Use of and access to certain areas and functions of the Site may be subject to additional restrictions. The Site is not intended for children and we do not knowingly collect, store or solicit personally identifiable information from Site users who are under 13 years of age.
You shall abide by all applicable local, state, national and international laws and when using the Site. You represent, warrant, and agree that you shall not use the Site or interact with the Site in a manner that:
(i) attempts, in any manner, to access data not intended for users of the Site or attempts to gain unauthorized access to an account, server or any other computer system;
(ii) violates the security of any computer network, or cracks any passwords or security encryption code;
(iii) decompiles, reverse engineers or otherwise attempts to obtain the source code or underlying ideas or information in BVF’s systems or network;
(iv) attempts to interfere with the function of the Site, host or network; or
(v) “crawls,” “scrapes,” or “spiders” any page, data, or portion of the Site (through use of manual or automated means).
2. Intellectual Property Rights.
Subject certain limitations as described in these Terms, you are granted the right to access the Site, including all of its contents, such as, for example, the text, graphics, photos, articles, images, illustrations, audio and code embodied within Site pages) (“Content”). Content is the property of BVF (or that of our suppliers or licensors) and is protected under trademark, copyright, and/or other intellectual property laws. You promise to abide by all copyright notices, trademark rules, information, and restrictions contained in any Content you access through the Site, and you may not download, print, use, copy, reproduce, modify, translate, publish, broadcast, transmit, distribute, perform, upload, display, license, sell, prepare derivative works from, commercialize or otherwise exploit for any purpose any Content from the Site, in whole or in part, for any public or commercial purpose without prior written consent from BVF.
Subject to these Terms, BVF grants you a limited, personal, non-exclusive, non-sublicensable, non-transferable license to access the Site, and to use (i.e., to download and display locally) the Content, solely for purposes of using the Site. BVF (on behalf of itself and its suppliers and licensors) reserves all rights not expressly granted herein.
BVF is the owner and/or authorized user of any trademark, registered trademark, logo, and/or service mark appearing on the Site (the “Marks”). Nothing on the Site should be construed to grant any license or right to use any BVF Mark. You may not use or exploit any Marks without prior written consent from BVF.
3. Information that You Provide to Us.
If you choose to contact any BVF or Sandbox personnel using the contact information you find on the Site, you understand that you are consenting to our collection and use of any information and/or materials you provide to such personnel. We undertake no obligation to review information submitted by you, or to return such information to you.
4. External Links.
The Site may contain links to third party websites (“Third Party Sites”). Third Party Sites may have their own privacy policies and terms and conditions that are not governed by these Terms. BVF is not responsible for the privacy practices or the content of any website(s) owned and operated by any Third Party Sites. Any links from this website to other websites do not imply BVF’s endorsement of, or association with, any such Third Party Site. BVF is not liable, directly or indirectly, to anyone for any loss or damage arising from or in connection with use of the Third Party Sites. You should carefully read and review the terms and privacy notices of such Third Party Sites to learn about their information collection, use and disclosure practices.
5. Warranty Disclaimer.
YOU EXPRESSLY AGREE THAT USE OF AND ACCESS TO THE SERVICE IS AT YOUR SOLE RISK. THE SITE, INCLUDING, WITHOUT LIMITATION, ALL CONTENT AND FUNCTIONALITY THEREOF, IS PROVIDED ON AN “AS IS” BASIS, WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, (INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, OR THAT USE OF THE SITE WILL BE UNINTERRUPTED OR ERROR-FREE. SOME STATES DO NOT ALLOW LIMITATIONS ON HOW LONG AN IMPLIED WARRANTY LASTS, SO THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU.
6. Limitation of Liability.
TO THE FULLEST EXTENT ALLOWED BY APPLICABLE LAW, UNDER NO CIRCUMSTANCES AND UNDER NO LEGAL THEORY (INCLUDING, WITHOUT LIMITATION, TORT, CONTRACT, STRICT LIABILITY, OR OTHERWISE) SHALL BVF OR SANDBOX, THEIR AFFILIATES (INCLUDING AFFILIATED FUNDS) OR ANY OF ITS OR THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, REPRESENTATIVES, SUPPLIERS OR LICENSORS (THE “BVF PARTIES”), BE LIABLE TO YOU OR ANY OTHER PERSON FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES OF ANY KIND ARISING OUT OF OR IN CONNECTION WITH THE USE OF, OR THE INABILITY TO USE, THE SITE OR THE CONTENT, EVEN IF ANY BVF PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME STATES DO NOT ALLOW THE LIMITATION OR EXCLUSION OF INCIDENTAL OR CERTAIN OTHER DAMAGES, SO SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU. IN NO EVENT WILL THE TOTAL LIABILITY OF ANY BVF PARTY TO YOU FOR ALL DAMAGES, LOSSES, AND CAUSES OF ACTION ARISING FROM OR RELATED TO THE TERMS, THE CONTENT, AND/OR YOUR USE OF THE SITE, EXCEED, IN THE AGGREGATE, $100.00. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL OR CERTAIN OTHER DAMAGES, SO THE ABOVE LIMITATION AND EXCLUSIONS MAY NOT APPLY TO YOU.
7. General.
These Terms are governed by the laws of the State of Illinois, without regard to the conflicts of laws provisions thereof. In the event of any dispute arising in connection with these Terms, you hereby consent to exclusive jurisdiction and venue in the state and federal courts of Cook County, Illinois. If any provision of these Terms is found by a court of competent jurisdiction to be unenforceable or invalid, that provision will be limited or eliminated, to the minimum extent necessary, so that these Terms shall otherwise remain in full force and effect and enforceable. The failure of either you or us to exercise or enforce any right or provision of these Terms does not constitute a waiver of such right or provision. You may not assign, delegate, or transfer these Terms or any of your rights or obligations hereunder without BVF’s express written consent. BVF may transfer, assign, or delegate these Terms and BVF’s rights and obligations without consent. You hereby acknowledge and agree that you are not an employee, agent, partner, or joint venture of BVF or Sandbox, and you do not have any authority of any kind to bind Company in any respect whatsoever. These Terms inure to the benefit of our successors, assigns and licensees. These Terms are the entire agreement between you and BVF and Sandbox with respect to the subject matter herein.
Notice for California Residents. Under California Civil Code Section 1789.3, California consumers are entitled to the following notice with respect to filing complaints with California’s consumer protection bureau: The Complaint Assistance Unit of the Division of Consumer Services of the California Department of Consumer Affairs may be contacted in writing at 1625 N. Market Blvd., Suite N-112, Sacramento, California 95834, or by telephone at 1 (800) 952-5210.
8. Information Not Confidential; Not an Offer to Invest; Site Content.
If you choose to contact any BVF or Sandbox personnel using the contact information you find on the Site, you understand any information and/or materials you provide to such personnel will not be treated as confidential or proprietary. We undertake no obligation to review information submitted by you, or to return such information to you. We may receive information that is similar to information you submit, or may have already received information containing ideas and plans that are the same as or similar to ideas and plans contained in information you submit to us. Nothing you submit to us will cause it or its affiliated funds to be limited or restricted from the pursuit of any opportunities, either alone or with third parties.
Your use of the Site or communication with any BVF or Sandbox personnel is not an indication that BVF or its affiliated funds will invest in any business you are associated with, nor is it an invitation to invest in any BVF entity or affiliated fund. You understand BVF is not in any way obligated to invest, offer the opportunity to invest, or to consider an investment or opportunity to invest. Any such offer or solicitation will be made separately and only by means of confidential offering documents specific to the relevant investment fund or other investment vehicle to investors that, among other requirements, meet certain qualifications under federal securities laws. There can be no assurance that BVF’s investment strategies will be successful or that BVF’s investment objectives will be achieved. Any investment in a fund or other investment vehicle managed by BVF involves a high degree of risk, including the risk of a complete loss of investment.
Any BVF portfolio companies or other investments described or referenced via the Site are not representative of all investments of the funds managed by BVF and/or Sandbox, and there can be no assurance that the investments described or referenced will be profitable or that future investments will have similar character or results.
Any opinions expressed via the Site reflect the views of the individual posters and are subject to change. Certain information available via the Site has been obtained from third-party sources, including from portfolio companies of investment funds managed by BVF and/or Sandbox. While taken from sources we believe are reliable, we have not independently verified all such information, and we make no representation or warranty about the accuracy of such information or its suitability for any purpose. The opinions expressed via the Site are not intended to constitute investment, accounting, tax or legal advice; nothing in the Site is a recommendation that you purchase, sell or hold any security or other investment or that you pursue any particular investment strategy. We have not independently verified or participated in any third party ratings or rankings regarding BVF or Sandbox or their personnel included on this Site. All such ratings or rankings are provided solely for general informational purposes, do not reflect the experience of all third parties with BVF or Sandbox or their personnel, and do not imply similar result in the future.
Certain statements made or other information disseminated via the Site by individual BVF or Sandbox personnel may constitute “forward-looking statements” under the Privacy Securities Litigation Reform Act of 1995. To the extent any information made available via the Site constitutes a forward-looking statement (which may be identified by use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “upside,” “potential,” “project,” “estimate,” “intend,” “forecast,” “target,” “believe” or similar terminology), please note that actual events, results or performance may differ materially from those reflected or contemplated by such statement. We disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether as a result of new information, future events or otherwise. Any projections, estimates, forecasts, targets or opinions expressed via the Site are subject to change without notice and may differ from opinions expressed by others. Any charts included in the Site content are provided solely for general informational purposes and should not be relied upon when making an investment decision.
Additional important information about BVF and Sandbox is available at the SEC’s website, http://www.adviserinfo.sec.gov.
9. Changes or Modifications.
We reserve the right to change the Site and/or these Terms at any time at our sole discretion without notice or liability to you. If we make material changes to these Terms, we will place a notice on our Site and/or provide notice by some other means. If you use the Site in any way after a change to the Terms is effective, that means you agree to all of the changes.