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Fund Four

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Fund 4 · Sterling Oil Services · Roll-Up & Water Technology

Oilfield services acquisitions with cleaner balance sheets, stronger operations, and employee alignment.

Fund 4 is built to acquire oilfield services companies, clean up debt, deploy FWS (First Water Solutions) systems, and create long-term alignment through an ETOP (Employee Token Ownership Plan). The fund is structured for accredited investors under a 506(c) offering path administered by the SEC (U.S. Securities and Exchange Commission) at $10,000 per token. Acquired operations are consolidated into a dedicated SPV (Special Purpose Vehicle) LLC (Limited Liability Company) with separately tokenized ownership priced at $100 per token — a smaller unit designed to work seamlessly with our ETOP (Employee Token Ownership Plan) program.

View fund structure Discuss Fund 4
Fund structure

A transition fund for oilfield service operators and investors.

Fund 4 bridges the gap between acquisition opportunities and execution capital. It is designed to support down payments on acquisitions, retire debt, install First Water Solutions systems, and establish an ETOP structure that gives employees a direct stake in long-term performance.

  • Fund token price: $10,000 per token.
  • SPV token price: $100 per token with open-ended supply, held in a dedicated SPV LLC under First Capital Co.
  • Investor profile: Accredited investors under a 506(c) structure.
  • Core strategy: Acquire oilfield service businesses with cash flow, operating depth, and integration potential.
  • Value creation: Combine acquisition discipline, debt cleanup, operational improvement, and water technology revenue.
DP

Down payment capital

Capital supports equity deposits on acquisitions so opportunities can move from LOI (Letter of Intent) to closing with greater speed and confidence.

DC

Debt cleanup

Reducing and eliminating debt is intended to improve financing flexibility, strengthen operations, and increase enterprise value.

FW

FWS revenue layer

First Water Solutions systems may add revenue through produced-water recycling and related resource recovery at acquired sites.

ET

Employee alignment

The ETOP reserve is designed to align field teams, technical staff, and operating managers with the same long-term value creation investors want to see.

SPV & tokenization

A dedicated SPV, separately tokenized at $100 per token.

Once organized, the acquired oilfield services operations are consolidated into a new special-purpose vehicle (SPV LLC). The SPV is its own token project with ownership tokens priced at $100 each. This smaller unit size is designed to work better with our Employee Token Ownership Plan (ETOP) while keeping ownership economics tied directly to the roll-up.

  • Token price: $100 per SPV token.
  • Open-ended supply: The total number of tokens is determined over time as additional companies are added to the roll-up.
  • Ownership: The SPV is part-owned under our holding company, First Capital Co (FCC).
  • Administration: Administrative management is provided by Capstone Admin Services, a division of First Capital Co that delivers admin services across each of our divisions.
  • Separate raise: Once the SPV is organized and the first company is added, it can independently raise capital on a Rule 506(c) basis.
Token

$100 per token

A smaller unit size than the fund token, priced to align cleanly with the ETOP program and broaden participation as the roll-up grows.

Supply

Open-ended issuance

The total token count is not fixed. Additional tokens correspond to companies added to the SPV over time as the platform expands.

Ownership

Held under First Capital Co

The SPV is part-owned under FCC, keeping the roll-up inside a familiar holding structure alongside our other divisions.

Administration

Capstone Admin Services

A dedicated FCC administration division providing centralized admin support to each division. It may later become its own roll-up.

Accredited investor participation

SPV capital raise under Rule 506(c).

After the SPV is organized and the first company is added, it can separately raise capital on a Rule 506(c) basis. Minimum participation is set by investor verification path, with $100 tokens keeping the entry structure flexible.

250

Verified accredited investors

A minimum of 100 tokens ($10,000) for accredited investors whose status is independently verified under the 506(c) process.

2,000

Self-verification of status

A minimum of 2,000 tokens ($200,000) for investors self-verifying their accredited status.

Roll-up economics

How a mid-market roll-up creates outsized value.

The roll-up strategy rests on a simple arbitrage: fragmented small operators trade at low multiples on their own, but a consolidated platform of scale commands a materially higher multiple. By combining several solid businesses into a single company, cutting duplicated overhead, and installing professional leadership, the same underlying cash flow can be worth far more — with owners and organizer both benefiting.

  • Fragmentation opportunity: Highly fragmented service industries hold many strong, owner-operated companies that are stuck at small-company valuations.
  • Multiple expansion: Standalone operators sell at a low multiple of profit; a consolidated platform at scale can attract a substantially higher multiple.
  • Cost synergies: Centralizing HR, fleet and equipment buying, software, and back-office functions lifts combined profitability.
  • Professional leadership: A dedicated CEO (Chief Executive Officer) runs daily operations so original owners can step back while retaining equity.
01

Combine solid operators

Several established, cash-flowing companies in a fragmented industry roll their businesses into a single unified holding company.

02

Cut waste, add leadership

Centralizing overhead and hiring a professional CEO increases combined profitability and frees owners from daily logistics.

03

Capture the multiple

Buyers pay a premium for scale, so the consolidated platform is valued at a higher multiple than any of its individual parts.

04

Everyone wins

Owners can significantly increase their equity value and gain professional management, while the organizer earns equity and cash flow for structuring and aligning the deal.

Use of proceeds

Capital directed to three priorities at once.

Fund 4 allocates capital across acquisition momentum, balance-sheet improvement, and employee ownership participation. The goal is to create a stronger operating platform rather than merely financing one transaction at a time.

01

Acquisition deposits

Initial capital supports down payments for oilfield services company acquisitions in target regions with existing cash flow and integration potential.

02

Debt retirement

Capital can be used to pay down or eliminate seller notes, inherited obligations, and parent-level debt to create a cleaner operating structure.

03

ETOP reserve

A 15-20% employee token allocation is designed to reward workforce participation and support retention through growth and integration.

How it works

How investors participate.

Fund 4 is offered to verified accredited investors only. Investors move through a straightforward qualification and document process before participating in the Sterling Oil Services Fund.

A

Accreditation review

Eligibility is reviewed under SEC (U.S. Securities and Exchange Commission) Regulation D, Rule 506(c). Investors committing $200,000 or more may generally self-certify their accredited status instead of submitting financial documents — see the verification note below.

B

Document access

Review the PPM (Private Placement Memorandum), operating agreement, SPV (Special Purpose Vehicle) documents, and the complete disclosure package covering the fund structure, acquisition pipeline, and risk factors.

C

Ongoing reporting

Receive updates on acquisitions, debt reduction progress, FWS (First Water Solutions) system installations, ETOP (Employee Token Ownership Plan) participation, and consolidated operating performance.

How accredited-investor verification works

Under SEC Rule 506(c), the fund must take reasonable steps to verify accredited-investor status before offering documents are delivered or a subscription is accepted. Per SEC staff guidance issued March 12, 2025, an investor committing at least $200,000 (natural person) or $1,000,000 (legal entity) may generally satisfy this step by self-certifying — providing written representations that they qualify as an accredited investor and that the investment is not financed by a third party for the purpose of making it — rather than submitting tax returns, bank statements, or brokerage statements. See the SEC no-action letter →

Investors committing below those amounts complete standard verification: financial documentation, or written confirmation from a licensed attorney, CPA (Certified Public Accountant), broker-dealer, or SEC-registered investment adviser. Every method is handled confidentially, and the fund makes the final determination in each case. This is SEC staff interpretive guidance, not a rule change — review the offering documents with your own counsel.

Execution path

How the roll-up is intended to advance.

A phased execution model keeps subscriptions, due diligence, acquisitions, debt reduction, operational integration, and employee participation moving in sequence rather than all at once. That approach is intended to reduce execution risk and give investors a clearer view of milestones.

1

Open the fund

Complete onboarding, subscriptions, and offering logistics for accredited investors through the STW RWA platform.

2

Close target acquisitions

Advance due diligence, negotiate purchase structures, and deploy capital toward qualifying oilfield service businesses.

3

Reduce debt and install FWS

Apply capital to debt cleanup while beginning the rollout of First Water Solutions systems across acquired operations where appropriate.

4

Expand the platform

Grow the roll-up through additional acquisitions, broader service reach, and deeper employee participation through the ETOP structure.

Governance

SPV-backed structure

Acquired operations are held through a dedicated SPV LLC — part-owned under First Capital Co and administered by our fund-services division — with $100 tokens keeping ownership economics tied to the oilfield services strategy.

Compliance

Accredited investor path

Participation is structured for accredited investors under Rule 506(c), with investor qualification and onboarding completed through the STW RWA process.

Returns logic

Operations plus technology

The strategy seeks value from both the underlying oilfield service companies and incremental revenue generated by FWS deployment.

Workforce alignment

ETOP participation

The employee reserve is designed to align field execution, retention, and operational performance with long-term enterprise growth.

Leadership

The team behind Fund 4.

Fund 4 uses the same STW RWA leadership format as the other fund pages so investors and operating partners have a consistent contact and management presentation.

DS

David Stewart

CEO, SurfTheWeb

40+ years in business and real estate. CEO of First Capital Co and SurfTheWeb. In partnership with Dr Parry, spearheading the project, we have established $67M in foundation value having built the entire STWcoin ecosystem from the ground up.

RP

Dr. Robert Parry

President

Dr Robert Parry, major shareholder, brings 40+ years spanning sales, marketing, and public relations in the financial arenas, including the last 12 years in cryptocurrency. He is a key figure bridging conventional financial systems with blockchain technology.

PJ

Paul Johnson

CFO (Chief Financial Officer)

California Real Estate Broker with 20 years of residential and commercial experience. Contributed to multiple startups, managed investor relations, and overseen regulatory filings for companies going public.

DB

David Board

RWA Dev Consultant

In the Web3 space since 2013. Published author of one of the earliest books on Bitcoin. Extensive experience developing and bringing new products to market in both permissionless and permissioned DeFi (Decentralized Finance).

Contact

Talk with us about Fund 4 opportunities.

We welcome conversations with accredited investors, oilfield service owners, operating partners, and strategic contacts who may fit the Sterling Oil Services roll-up strategy.

David Stewart, CEO (Chief Executive Officer)
Email: david@STWcoin.net
Phone: 805-216-1160
Text & message WhatsApp
Dr. Robert Parry, President
Email: rparry@STWcoin.net
More information: stwrwa.com/news/