T12, issued by Alphaledger/Simplify Target 12% Distribution Fund LLC, is a tokenized private credit fund interest that represents pro-rata membership units in an actively managed alternative-income portfolio targeting a 12% annualized distribution [S1][S2][S3].

Holders receive onchain units in the Alphaledger/Simplify Target 12% Distribution Fund LLC, representing a pro-rata interest in a diversified portfolio spanning high-yield low-duration fixed income, hedged credit, U.S. Treasuries, gold, volatility, and options and futures strategies with embedded barrier structures [S1][S3]. The fund targets a 12% annualized distribution before fees, paid quarterly, reported as $0.2757 per unit and an 11.11% NAV distribution rate as of March 31, 2026 [S1]. A 1% all-inclusive annual fee applies [S1][S2].

The fund is issued through Alphaledger/Simplify Target 12% Distribution Fund LLC, managed by Alphaledger Investment Management, LLC, a subsidiary of Alpha Ledger Technologies, Inc., based in Washington State, with Simplify Asset Management as sub-advisor [S2][S3]. Units are unregistered securities offered in a continuous Regulation D Rule 506(c) private placement restricted to U.S. accredited investors with a $50,000 minimum [S1][S4]. Liquidity is daily, subject to limits, on U.S. trading days [S1]. Alphaledger TA, LLC, an SEC-registered transfer agent, maintains the records; custody is flexible and SIPC protection does not apply [S2].

Units are issued as SPL tokens minted exclusively on Solana through Alphaledger's Vulcan Forge platform, with transfer restrictions, wallet whitelisting, and KYC and AML enforced onchain [S1][S5]. Subscriptions are accepted in U.S. dollars (USD) or USDC, with units issued as ownership records on subscription [S1][S2]. Distribution rate and NAV figures are published on the issuer's T12 product page [S1].

<Sources
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  items={[
    { id: "S1", url: "https://www.alphaledger.com/t12/" },
    { id: "S2", url: "https://www.alphaledger.com/insights/silo-pharma-selects-alphaledgers-t12-fund/" },
    { id: "S3", url: "https://www.alphaledger.com/insights/breaking-down-the-t12-fund-high-yielding-income-for-accredited-investors/" },
    { id: "S4", url: "https://www.alphaledger.com/products/" },
    { id: "S5", url: "https://www.alphaledger.com/insights/vulcan-forge-the-next-evolution-of-capital-markets/" },
  ]}
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Tokenized funds

Alphaledger originates and tokenizes private-credit loans on Solana using its Vulcan Forge platform, and packages them into U.S. Reg D investor vehicles such as the Alphaledger / Simplify Target 12% Distribution Fund (T12), sub-advised by Simplify Asset Management.

Alphaledger is a tokenized private-credit issuance platform that brings real-world specialty-finance loans on-chain. Token Terminal tracks its investor-facing vehicle, the T12 fund — a tokenized U.S. Reg D 506(c) credit fund represented on Solana via Token-2022 mints.

Alphaledger is a U.S.-based tokenization platform led by a fintech team focused on bringing institutional private-credit issuance on-chain through its regulated broker-dealer subsidiary Alphaledger Markets, Inc.

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Real-world asset (RWA) issuers

Alphaledger

Alphaledger / Simplify Target 12% Distribution Fund (T12) is a tokenized fund share issued by Alphaledger through Alphaledger/Simplify Target 12 Percent Distribution Fund LLC and managed by Alphaledger Investment Management, LLC with Simplify Asset Management as sub-advisor.

Each token is a direct claim on the issuer.

The fund is open-ended, invests in U.S. multi-asset, and charges a 1% annual management fee.

Accredited investors can subscribe and redeem in USD, with a USD 50,000 minimum after completing KYC, and holders have a right to redeem at net asset value.

Alphaledger/Simplify Target 12 Percent Distribution Fund LLC is incorporated in the United States and is offered under an SEC Regulation D exemption.

T12 has been issued on Solana as a SPL Token-2022 token since June 2025.

Alphaledger / Simplify Target 12% Distribution FundT12

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