Strengthening the Permuto Board with Top Financial and Technology Leaders
Permuto Capital LLC, a collaborative effort between 3V Capital Partners SE LLC and Chia Network Inc., has announced the submission of revised registration statements for the MSFT Trust, originally filed on January 15, 2025, as well as the AVGO and AAPL Trusts filed on February 28, 2025. The newly amended statements reveal that Gene Hoffman and Trent Martensen, Co-CEOs, have joined the board, with Hoffman taking on the role of Chairman. Furthermore, the company has added three independent board members: Noor Menai, David Frazee, and Willayna Banner, enhancing its leadership structure. Both Menai and Frazee already hold positions on the board of Chia Network Inc.
Noor Menai, who has been a board member of Permuto Capital since June 2025, has an extensive background in banking. He has been the Chief Executive Officer and President of CTB Bank USA since November 2012, in addition to leading California Capital Corp, its associated bank holding company. His prior experience includes significant roles at CTBC Bank and Citigroup, where he worked from 1997 to 2006. Menai has also been actively involved in the Federal Reserve Bank of San Francisco’s Community Depository Institutions Advisory Council since January 2022 and has served on various boards, including that of Chia Network Inc. since August 2023.
David Frazee has been a part of Permuto Capital’s Board of Directors since June 2025. He has held the position of managing partner at Richmond Global Ventures, a venture capital firm, since September 2013. Additionally, Frazee co-founded the educational initiative Demystifying Silicon Valley, where he serves as CEO. He has been with Chia Network Inc.’s board since May 2021 and previously worked as a partner at K&L Gates LLP from February 2010 to August 2013.
Willayna Banner, another recent appointee to Permuto Capital’s Board, has a rich history with Microsoft, where she held various leadership positions. Her roles included Senior Director for Growth & Innovation in Retail and Agricultural sectors, as well as leading the Web3/Blockchain initiatives in Financial Services. Prior to her tenure at Microsoft, she was a Senior Vice President at Wells Fargo, overseeing business delivery for cards and retail services, and she also contributed to Bank of America in key executive roles.
The forthcoming offering will be conducted strictly through a prospectus. Interested parties may request preliminary prospectuses via email. While registration statements for these securities have been submitted to the SEC, they are not yet effective, meaning sales or offers to purchase cannot occur until they gain approval. This announcement does not serve as an offer or solicitation for the sale of these securities in any jurisdiction where such actions would be illegal before the necessary registration or qualification.
Market conditions will influence the offerings, and there is no guarantee regarding the timeline for completion or the specific terms of the offerings.
About Permuto Capital
Permuto, headquartered in New York City and South San Francisco, aims to foster innovative financial solutions for both institutional and retail investors. The organization prioritizes integrity and strategic growth, with a mission to navigate and progress within an ever-changing financial landscape.
About 3V Capital Partners SE LLC
3V Capital Partners is committed to making innovative financial solutions accessible, previously available only to qualified institutional buyers, while minimizing fees. The firm employs advanced technology and stringent risk management protocols to ensure its products are cost-effective for investors and to reduce counterparty risks. Founded by investment bankers with a technology focus, the firm strives to revolutionize financial markets, assisting investors in better risk management and tailored exposure to public securities.
About Chia Network Inc.
Chia Network offers software solutions that empower enterprises to tokenize, custody, and trade a wide array of assets while ensuring their authenticity and provenance. Founded by Bram Cohen, the original creator of BitTorrent, Chia operates on a secure and regulatory-compliant open-source blockchain, laying the groundwork for One Market.
