The document discusses the Elcano Franchise Fund 1 LP, which provides funding to franchisees of major Australian franchise systems. It has a Clearing Pool of 10 million units that funds are securitized from to Special Purpose Vehicle class units. The fund offers investors a quasi-fixed interest investment with a targeted return of 9.25% paid quarterly over 4 years while supporting Australian small businesses and franchisees. It compares favorably to typical venture capital funds by having lower fees, more stable returns, and partial capital returns during the investment period. The fund and manager aim to fill a gap in funding for proven franchisee businesses.