Wasabi Ventures Stables Review 2026: Racehorse Club Interests at Cost Plus a $99 Fee per Horse, and the Stallion Funds Beside Them
Wasabi Ventures Stables sells club members small percentages of racehorses, foals and yearlings: $25 to join, then for each horse a share of the price Wasabi paid plus a one-time $99 management fee. On its standard racing interest there are no further bills and the agreement says Wasabi absorbs losses beyond the member's payment; weanling and yearling programs add scheduled quarterly bills. Its stats page reports 15.23% of horses as 'profitable to club members' without defining the measure. AltStreet located no SEC filings for the club interests; Wasabi's separate stallion funds for accredited investors file Form Ds, which report $3.2 million raised from 42 investors in the main fund.
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What the data actually shows - TL;DR
Wasabi Ventures Stables, founded in 2017 by venture investor Thomas 'TK' Kuegler, runs a racehorse ownership club. Members pay $25 to join, then buy 0.25% to 4.99% of a racehorse (up to 10% of a foal) at the price Wasabi paid, plus a one-time $99 management fee per horse; Wasabi keeps at least 20% of each horse, has sole authority over training, racing and sale, and pays members their share of any profit when the horse is sold or retired.
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On the standard racing interest there are no further bills, and the agreement says Wasabi will absorb losses beyond the member's payment; yearling and weanling offerings add four or six scheduled quarterly bills, and the agreement allows program addenda with different terms. The flat fee weighs most on small interests: a first $40 interest costs $164 with the fee and membership. The agreement is plain about the odds ('the majority of thoroughbred racehorses ultimately lose money'), and Wasabi's stats page reports 15.23% of 256 horses as 'profitable to club members' (platform-stated; the page does not define the measure).
AltStreet located no SEC filings for the club interests; members receive an unaudited annual cash-flow statement. Alongside the club, the Kueglers run annual stallion funds for accredited investors under Rule 506(c). Those funds file Form Ds, which report $3,225,500 raised from 42 investors in Wasabi Ventures Stallions Fund LLC and $1,240,087 from 33 in WV Sports Funds LLC, and list about 19% of each amount as used or proposed to be used for payments to the named executive officers, directors or promoters, an estimate the filings do not explain.
The stallion site's distribution and AUM figures are not reconciled in the public materials reviewed, and no fund financial statements are public. The two halves may overlap: a club foal budget includes breeding payments involving a mare and a stallion the funds list as holdings.
Share of horses Wasabi's stats page reports as 'profitable to club members,' across 256 horses (captured October 19, 2026; another capture showed 14.96% of 254). The page does not say whether horses still racing are counted, how profit is measured or whether the $99 fee is included, so it is not a completed loss rate.
One-time management fee per member per horse, on top of a share of the price Wasabi paid with no markup. It is not the price of the horse interest: a $40 interest plus the $99 fee and the $25 membership is $164 on a first purchase, so the fee can exceed the interest itself.
AltStreet located no SEC filings for the club interests; members get an unaudited cash-flow statement at least annually. The agreement calls them 'undivided Club interests in the Thoroughbred' in which purchasers 'are not involved in the management' but 'financially participate.'
Raised by Wasabi Ventures Stallions Fund LLC from 42 investors, per its March 2025 Form D amendment (Rule 506(c), accredited only, $5,000 minimum); WV Sports Funds LLC reports $1.24M from 33.
Share of each fund's reported proceeds that its Form D lists as used or proposed to be used for payments to the named executive officers, directors or promoters ($618,400 of $3,225,500; $230,088 of $1,240,087), each marked as an estimate. A use-of-proceeds disclosure, not a fee schedule: it does not establish what was paid, why, or whether it recurs.
Two average annual distribution figures on the stallion site, not reconciled in the public materials reviewed: 15.13% 'across all funds' (portfolio page) and 28.2% 'per year back on invested capital' (about page). They may use different periods, cohorts or denominators; distributions can include returned capital, so neither is an investment return, and the site says its figures 'have not been independently verified or audited.'
Club terms from the member agreement (updated February 13, 2023) and site pages captured October 19, 2026; club statistics are platform-stated. Fund figures from the Form D and D/A filings of Wasabi Ventures Stallions Fund LLC (March 24, 2025) and WV Sports Funds LLC (June 14, 2024); stallion return figures are platform-stated.
Quick Verdict
Is this platform right for you?
Wasabi Ventures Stables offers a low-commitment way into racehorse ownership: on its standard racing interest, a share of the horse at Wasabi's cost plus a one-time $99 fee, no further bills, and a contractual cap on additional funding. The flat fee makes very small interests relatively expensive, weanling and yearling programs bill quarterly, AltStreet located no SEC filings for the club interests, and Wasabi's stats page reports 15.23% of horses as profitable to members.
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Its separate stallion funds file Form Ds, but their distribution figures are unaudited and not reconciled publicly, and the Form Ds list an unexplained use-of-proceeds estimate for payments to named insiders. Buy club interests as entertainment; ask the stallion funds for audited statements.
Best for
- Racing newcomers who want to own part of a horse for under $500 and accept losing it.
Avoid if
- You want a return on capital.
- You need filed or audited reporting.
- You may need to sell.
Top strengths
- Purchase at Wasabi's cost with no markup; flat $99 fee; no further bills on racing horses.
- On standard racing interests, no further bills and a contractual undertaking to absorb overruns.
- A published profitability rate and an agreement that states the odds.
- Stallion funds that file Form Ds.
Key limitations
- 15.23% of horses reported profitable to members (platform-stated, measure undefined); the $99 fee weighs on small interests.
- No SEC filings or audits located for the club; unaudited annual cash-flow statement.
- Sole control, competing horses and termination at Wasabi's value; a foal budget includes breeding payments involving fund-listed assets (potential conflict).
- Stallion fund distribution figures unaudited and not reconciled publicly; unexplained use-of-proceeds estimate for payments to named insiders.
Compare Before Deciding
Where Wasabi Ventures Stables fits against alternatives
Use these hooks to pressure-test whether this is the right platform, or whether a nearby alternative matches the job better.
How this compares to MyRacehorse Review
MyRacehorse Review
Reg A microshares in horses MyRacehorse selects, with a filed fee load and audited annual reports.
How this compares to Commonwealth Review
Commonwealth Review
$50 racehorse units through Commonwealth's own Reg CF funding portal.
How this compares to Mogul Review
Mogul Review
Another retail fractional product sold with no SEC filing, in single-family rentals.
Quick Answers
What most investors want to know first
The highest-signal facts first: minimums, liquidity reality, K-1 timing, and whether distributions are actually part of the experience.
Liquidity
None; transfers require Wasabi's written permission.
K-1 Timing
No investor tax form is described for the club; the agreement elects out of partnership treatment and makes no tax representation.
Distributions
On sale, claim or retirement.
Overview
Platform Overview
A concise read on what the platform is, how the structure works, and where the practical friction shows up for real investors.
Wasabi Ventures Stables LLC, a Montana-formed limited liability company domiciled in Florida (Gulf Breeze), buys thoroughbreds privately, at auction and through claiming races, and offers club members small 'Club Interests' in each horse. A member pays a $25 club fee once, then for each horse a percentage of the price Wasabi paid (no markup on private and auction purchases) plus a one-time $99 management fee; Wasabi keeps at least 20% and buys whatever the club does not. Up to 160 members join a horse.
Wasabi has sole authority over its training, racing and sale, including entering it in claiming races where it can be bought by another owner, pays expenses from the purchase money and earnings, and, when the horse is sold or retired, pays each member their percentage of whatever is left; on the standard racing interest, the agreement says Wasabi absorbs any loss beyond the member's payment. Foal offerings sell a percentage of an unborn foal's budgeted costs and end at the weanling or yearling sale; yearling and weanling offerings add four or six quarterly training bills; group offerings pool several horses. Separately, Wasabi Ventures Stallions runs an annual pooled fund for accredited investors that buys stallion shares, broodmares and lifetime breeding rights and pays semi-annual distributions; its funds file Form Ds under Rule 506(c). Thomas Kuegler Jr. and Michele Pesula Kuegler are the directors named on the fund filings; Michele Kuegler also runs the Wasabi Aftercare Fund, a nonprofit that receives a suggested donation with each horse purchase.
By early 2020 the club had just under 1,000 members, 78% of whom had never owned a horse, and nearly 100 horses with more than $1.1 million of earnings, according to Thoroughbred Daily News. It added a breeding program in 2019, its first stallion (Grade I winner Force the Pass, a pre-2020 syndicate the stallion site says was sold in 2020 for 5x) and from 2020 annual stallion funds for accredited investors. The stallion site lists six annual funds (2020 to 2025) and a pre-2020 syndicate, with holdings in stallions such as Blofeld, Nashville, Straight No Chaser and Army Mule and broodmares including Giving Spirit.
The club's 2026 programs include racing horses trained mainly by Jesse Cruz in Kentucky and Mark Salvaggio in Pennsylvania, foal offerings, and a European group buying colts at breeze-up sales for Joseph O'Brien to train in Ireland at $1,800 per 1%. The operation is based in Gulf Breeze, Florida.
Entities
Wasabi Ventures Stables LLC (Montana-formed, Florida-domiciled; club sponsor and racing manager); Wasabi Ventures Stallions LLC (named on the Form D as sales-compensation recipient, with no commissions reported); Wasabi Ventures Stallions Fund LLC (Delaware, CIK 1835050); WV Sports Funds LLC (Delaware, CIK 1904251); Wasabi Ventures Sports Management LLC; Wasabi Aftercare Fund (nonprofit).
Club scale
256 horses all-time, 30 active in 2026, $3,896,486 of purses all-time and $277,279 in 2026 (platform-stated); just under 1,000 members in 2020 (press).
Club price
$25 club fee; a share of the horse's cost at 0.25% to 4.99% (racing, yearlings) or up to 10% (foals), targeting $40 to $125 minimums on $16,000 to $50,000 horses; $99 per horse.
Stallion funds
Rule 506(c), accredited only, $5,000 minimum, annual vintages, semi-annual distributions; $3,225,500 from 42 investors (Stallions Fund LLC) and $1,240,087 from 33 (WV Sports Funds LLC) per Form D.
Reporting
Club: unaudited cash-flow statement at least annually; no SEC filings. Funds: Form D notices only; no public financial statements.
Liquidity
None; transfers need Wasabi's written permission; club positions end when the horse is sold, claimed or retired.
Investor Operations
The practical questions investors actually care about: when tax documents arrive, how cash distributions work, and whether capital can be exited before the underlying asset is sold.
Tax Documents
K-1 Timing
What to expect
No investor tax form is described for the club; the agreement elects out of partnership treatment and makes no tax representation.
Cash Flow
Distributions
Frequency
Club: at the end of each horse's career with Wasabi. Funds: semi-annual (platform-stated).
Timing
On sale, claim or retirement.
Consistency
15.23% of horses reported profitable to members (platform-stated, measure undefined); no per-horse settlements published.
Liquidity
Exit Reality
Holding period
Until the horse leaves the stable.
Exit options
- Settlement after sale, claim or retirement.
- Termination by Wasabi at a proposed fair-market value.
Secondary market
None; transfers require Wasabi's written permission.
Investment Structures
Racing club interest
0.25% to 4.99% undivided interest in a racehorse at the price Wasabi paid, plus a one-time $99 fee; Wasabi keeps at least 20%, manages solely, and settles each member's share of net profit when the horse is sold or retired; no further bills, and the agreement says Wasabi absorbs losses beyond the payment.
Foal, yearling and weanling offerings
Foals: a share of a budget of mare lease, stallion fee and raising costs, settled between weaning and the yearling sale, with 'breeders bonuses' afterward. Yearlings and weanlings: the purchase price plus four or six quarterly training bills, then no further bills.
Group offerings
A pooled group of horses at a stated group value (Wasabi Europe 2026: $180,000, $1,800 per 1%, colts bought at European breeze-up sales and trained by Joseph O'Brien), settled when the last horse leaves.
Stallion funds (accredited investors)
Annual pooled funds holding stallion shares, broodmares and lifetime breeding rights; Rule 506(c), $5,000 minimum, semi-annual distributions; Form D notices filed by Wasabi Ventures Stallions Fund LLC and WV Sports Funds LLC.
Risk
Risk Structure
This is where the marketplace pitch gives way to the actual operating reality: delayed exits, limited disclosure, fee drag, and path-dependent outcomes.
Asset
A small share of one horse, often a claiming-level horse that can be claimed away out of any race; 15.23% of horses reported profitable to members (platform-stated, measure undefined).
Cost layer
Price at cost plus a flat $99 per horse; running costs come out of members' money; quarterly bills on yearlings and weanlings; foal prices are cost budgets.
Control and conflicts
Wasabi decides everything, may race competing horses, can terminate on 10 days' notice at its own valuation, and a club foal budget includes breeding payments involving assets its affiliated funds list (potential conflict).
Reporting
Club: no SEC filings located, unaudited annual cash-flow statement. Funds: Form D only; distribution figures unaudited and not reconciled publicly.
Liquidity
None; transfer needs Wasabi's permission.
Few horses reported profitable to members
Wasabi's stats page reports 15.23% of horses profitable to club members, without defining the measure.
Why it matters
The agreement itself says most racehorses lose money; plan for the payment on any one horse to be lost.
Mitigation / verification
Treat each purchase as entertainment spending, as the agreement asks members to certify.
No filed reporting for the club
AltStreet located no SEC filings for the club interests; members receive an unaudited annual cash-flow statement from the manager.
Why it matters
Members cannot verify a horse's expenses or settlement independently.
Mitigation / verification
Ask for the final accounting of a past horse before buying, and keep each annual statement.
Related-party dealings
A club foal budget includes a mare lease and stallion fee involving assets the affiliated funds list, with recipients not established; Wasabi co-owns every horse and sets termination values.
Why it matters
If such payments go to affiliated funds, value could move between club members and fund investors without independent pricing.
Mitigation / verification
Ask who receives each lease and stud fee in a foal budget and whether the funds benefit.
Unaudited fund figures
The stallion site gives 15.13% and 28.2% as average annual distributions and labels exits with IRRs, all unaudited and not reconciled publicly; separately, the Form Ds list an unexplained use-of-proceeds estimate for payments to named insiders.
Why it matters
Accredited investors cannot tie the marketing to any filed or audited figure.
Mitigation / verification
Request audited fund statements and the calculation behind each figure before investing.
Regulatory & Legal Posture
Security Status
Club: undivided interests in horses under a management agreement, for which AltStreet located no SEC filing; AltStreet does not determine their status or any exemption. Stallion funds: LLC interests offered to accredited investors under Rule 506(c) with Form D notices (CIKs 1835050 and 1904251).
EDGAR full-text and company searches for Wasabi Ventures Stables, the club and its horses returned nothing. The agreement describes purchasers who 'are not involved in the management of these horses, but financially participate ... in the expenses and income the horses produce,' asks for a sophistication representation and an entertainment-budget letter, elects out of partnership tax treatment, and notes it 'has not been qualified with the Commissioner of Corporations of the State of Florida.' The stallion funds' Form Ds claim the Rule 506(c) exemption, which permits general solicitation if every purchaser is a verified accredited investor; a Form D is a notice, not a review by the SEC.
- Member agreement, updated February 13, 2023: Montana-formed LLC domiciled in Florida; Florida law; AAA arbitration; Section 23 non-qualification notice.
- Wasabi Ventures Stallions Fund LLC Form D/A, March 24, 2025: $3,225,500 sold to 42 investors; $618,400 of proceeds reported as used or proposed for payments to named insiders (estimate); signed Thomas Kuegler Jr., Founder/Managing Partner.
- WV Sports Funds LLC Form D/A, June 14, 2024: $1,240,087 sold to 33 investors; $230,088 of proceeds reported as used or proposed for payments to named insiders (estimate).
- Legal scan, October 19, 2026: no SEC, FINRA or state action and no lawsuit naming Wasabi Ventures Stables, its funds or the Kueglers located; a 2025 Florida fraud complaint between unrelated parties mentions 'Wasabi Ventures' in a list, with no Wasabi entity a party.
Disclosure Quality
Club: the agreement and site are plain about risk and fees, and the stats page publishes a profitability figure few platforms would, though it does not define it; per-horse results, financial statements and related-party terms are not public. Funds: Form D figures only; marketing distribution figures are unaudited and not reconciled publicly.
Custody Model
Club money and horse earnings are held in Wasabi Ventures Stables' own accounts ('No Club Member or party other than Wasabi Ventures Stables shall withdraw funds'); members are recorded owners of undivided interests on Wasabi's books.
Regulatory Backing
AltStreet located no SEC filing, custodian or escrow for the club interests. The funds rely on the Rule 506(c) exemption.
Tax Treatment
Reporting
No investor tax form stated for the club; fund reporting not disclosed publicly
The club agreement provides an unaudited cash-flow statement at least annually.
Income Character
Share of net horse income or loss (club)
The agreement says members own 'undivided Club interests,' elects out of partnership treatment if the arrangement is treated as a partnership, makes 'no representation as to the tax status/treatment of any income or losses,' and leaves members responsible for their own reporting. Tax treatment depends on the member's circumstances; consult a tax adviser.
Limitation
AltStreet is not a tax adviser; the stallion funds' tax reporting is not described in public materials beyond 'tax preparation' being handled.
Special Considerations
- On standard racing interests a member's loss is capped at the payment by contract; whether and how it is deductible is a question for a tax adviser.
- Horse-related activities can raise hobby-loss questions.
Account Suitability
Taxable
Yes.
Roth IRA
Not addressed.
Traditional IRA
Not addressed.
HSA
Not addressed.
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AltStreet Data Layer
What the data actually shows
Wasabi's site and the funds' Form Ds give the club's odds, its terms and the size of the regulated side.
15.23% of horses reported profitable to members
15.23% of 256 horses per Wasabi's stats page (measure undefined; another capture showed 14.96% of 254); of 133 horse pages scraped, 50 claimed away, 43 retired, 12 sold.
What this means
Read as Wasabi's own summary; ask how it is calculated.
Use-of-proceeds estimate: about 19% for named insiders
$618,400 of $3,225,500 (Stallions Fund LLC) and $230,088 of $1,240,087 (WV Sports Funds LLC), each an estimate on the Form D.
What this means
A disclosure, not a fee schedule; investors should ask what was paid, why, and whether it recurs.
Two distribution rates, neither audited
15.13% average annual distribution on the portfolio page; 28.2% per year on the about page; $6.8 million AUM and $4.47 million sold per Form D (different measures).
What this means
Not reconciled in the public materials reviewed; distribution rates can include returned capital.
Foal prices are budgets
$54,533 'price paid' equals seven itemized estimates, including a mare lease and stallion fee involving assets listed by affiliated funds.
What this means
Members prepay estimated costs; recipients and allocation of the breeding payments were not established.
Data as of 2026-10-19 . AltStreet review evidence layer . Public-source analysis
Full datasetDecision Fit
Investor Fit
Who this works for, who it does not, and what level of patience and complexity tolerance the platform really demands.
Racing newcomers who want to follow a horse for under $500
The standard racing interest is designed for this: no further bills, a contractual cap on additional funding, events and updates. Plan for the payment to be lost, and note that the $99 fee weighs heavily on very small interests.
Investors seeking returns
Wasabi's stats page reports 15.23% of horses profitable to members (measure undefined), and AltStreet located no filings or audits for the club.
Accredited investors considering the stallion funds
A rare filed vehicle for breeding assets, but its distribution figures are unaudited and not reconciled publicly, and its Form Ds list an unexplained use-of-proceeds estimate for payments to named insiders.
Tradeoffs
Key Tradeoffs
The attraction of pre-IPO access is real, but every benefit comes bundled with a corresponding liquidity, transparency, or pricing cost.
Cost
Flat $99 a horse, heavy on small interests; quarterly bills on weanlings and yearlings.
Risk
15.23% of horses reported profitable to members.
Control
Sole authority, competing horses, termination at Wasabi's value.
Disclosure
No SEC filings located for the club; fund figures unaudited.
Avoid
Who This Is Not For
This section should be read as a filter, not an afterthought. If you need income, simplicity, or near-term access to capital, the structure is working against you.
Anyone who needs the money back
The agreement says most racehorses lose money, and positions cannot be sold.
Investors who need audited reporting
AltStreet located no SEC filings for the club; the funds file only Form D notices.
Non-accredited investors seeking the stallion funds
Rule 506(c) funds are open to verified accredited investors only.
Editorial View
AltStreet Perspective
The compressed version of the review: what matters, what marketing tends to obscure, and how we would frame the platform for a serious allocator.
Verdict
Wasabi built a low-commitment racing club: on its standard racing interest, members pay a share of a horse at cost plus $99, follow it, and owe nothing more, with Wasabi undertaking to absorb overruns. It is plain about the odds in general terms. What it does not offer is an independent check on the numbers: AltStreet located no SEC filings for the club interests, members receive an unaudited cash-flow statement, no financial statements show Wasabi's capacity to absorb losses, the stallion funds' distribution figures are unaudited and not reconciled publicly, and a club foal budget includes breeding payments involving assets the affiliated funds list.
Positioning
Against MyRacehorse and Commonwealth, the SEC-filed racehorse platforms AltStreet covers, Wasabi puts more of a given budget into the purchase price and has no recurring bills on standard racing interests, though its flat fee weighs heavily on small interests and AltStreet located no SEC filings for the club.
The Bottom Line
A racehorse club at cost plus a one-time $99 per horse, with no further bills on standard racing interests and no SEC filings located, whose stats page reports 15.23% of horses profitable to members, beside stallion funds whose figures are not reconciled publicly.
Action
Next Steps
If you still want to engage after reading the review, these are the practical next moves that reduce avoidable mistakes.
Read the member agreement and the addendum for the specific program (racing, foal, yearling, group) before buying.
Ask Wasabi for the final accounting of a few past horses, including claimed ones.
For foal offerings, ask who receives the mare lease and stallion fee.
For the stallion funds, request audited statements and the calculation behind the 15.13% and 28.2% figures, and what the Form D insider payments were.
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Deal Intelligence →Appendix
Sources, Disclosures, and Supporting Context
The lower section is structured like a report appendix: relationship context first, adjacent reading second, and evidence last.
Report Appendix
Disclosure
Relationship and compensation context
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Report Appendix
Disclosure
Relationship and compensation context
Report Appendix
Comparison Guides
Head-to-head guides featuring Wasabi Ventures Stables
+
Report Appendix
Comparison Guides
Head-to-head guides featuring Wasabi Ventures Stables
Report Appendix
Related Resources
Adjacent platform comparisons, frameworks, and category links
+
Report Appendix
Related Resources
Adjacent platform comparisons, frameworks, and category links
Further Reading
Related Resources
Adjacent frameworks and reviews that help place the platform in a broader allocation or due-diligence context.
Similar Platform Reviews
- MyRacehorse Review
Reg A microshares in horses MyRacehorse selects, with a filed fee load and audited annual reports.
- Commonwealth Review
$50 racehorse units through Commonwealth's own Reg CF funding portal.
- Mogul Review
Another retail fractional product sold with no SEC filing, in single-family rentals.
Report Appendix
Evidence & Methodology
6 cited passages on file; sources, scope, and how the review was assembled
+
Report Appendix
Evidence & Methodology
6 cited passages on file; sources, scope, and how the review was assembled
Evidence on file
6 supporting passages on file for Wasabi Ventures Stables and its offerings from 4 source documents, 6 verified by an analyst through 2026-10-19, 1 discrepancy flagged. Each passage records the metric it supports, the value read from the document, the page, and the verbatim text where the document has it. Terminal subscribers read the passages; open them in the terminal.
- Cited passages
- 6
- Source documents
- 4
- Analyst verified
- 6
- Discrepancies flagged
- 1
Latest analyst verification 2026-10-19; latest extraction 2026-10-19. A discrepancy is a disagreement between two sources, or between a document and a marketing claim, recorded rather than resolved silently.
ASReview Evidence
Methodology
153-page scrape of wasabistables.com (133 horse pages) and captures of wasabistallions.com; the member agreement; six Form D filings of Wasabi Ventures Stallions Fund LLC and three of WV Sports Funds LLC; legal scan of EDGAR, CourtListener and the web.
Scope
The club's racing, foal, yearling, weanling and group programs; the stallion funds as filed and marketed.
Key Findings
- *Agreement: 'Purchasers are not involved in the management of these horses, but financially participate (on a defined and limited basis) in the expenses and income the horses produce.'
- *Agreement: 'It is important to note that the majority of thoroughbred racehorses ultimately lose money!'
- *Agreement: Wasabi 'shall have sole authority and responsibility for the decision to sell any horse via a claiming race, private sale, public auction ... at whatever time and price they deem to be appropriate.'
- *Terms: 'a risk-free way of learning about and getting exposed to the thrills of horse racing.'
Primary Source Pages
Comparable Platforms
- MyRacehorse
SEC-filed Reg A series with audited annual reports and a heavier fee load.
- Commonwealth
Reg CF offerings through its own portal, with Form C disclosure for every horse.
FAQ
Frequently Asked Questions
High-intent search questions answered directly, without making users hunt through the full review.
Is Wasabi Ventures Stables legit?
It is a real racing stable with real horses, trainers and results, and AltStreet found no enforcement action or lawsuit. AltStreet located no SEC filings for the club interests, nothing is audited, and members receive an unaudited cash-flow statement at least annually. Its stats page reports 15.23% of its horses as profitable to club members, without defining the measure.
How much does Wasabi Ventures Stables cost?
$25 to join, then for each horse a percentage of the price Wasabi paid (typically $40 to a few hundred dollars) plus a one-time $99 management fee, so a first $40 interest costs $164 in total. Standard racing interests have no further bills; yearling and weanling offerings add four or six quarterly bills.
Can I lose more than I put in?
On the standard racing interest, the agreement says no: Wasabi absorbs losses beyond your payment. Weanling and yearling programs require scheduled quarterly payments, and the agreement allows addenda with different terms. The cap is a contractual promise; no public financial statements show Wasabi's capacity to honor it.
Do Wasabi club members make money?
Wasabi's stats page reports 15.23% of its 256 horses as profitable to club members, without saying whether active horses are counted or how profit is measured. Members are paid their share of any net profit when the horse is sold, claimed or retired.
What are the Wasabi Ventures Stallions funds?
Annual pooled funds for accredited investors that buy stallion shares, broodmares and breeding rights, under Rule 506(c) with a $5,000 minimum. Their Form Ds report $3.2 million raised from 42 investors in the main fund entity and list about 19% of proceeds as an estimated use for payments to the named insiders, without explanation; the site's distribution figures are unaudited and not reconciled publicly.