{{Short description|American investment management company}}
'''AdultVest, Inc.''' is an investment management company based in Beverly Hills, California. It was founded in 2005 by former hedge fund specialist Francis Koenig as an institutional investment company focusing exclusively on sex industry-related investments.<ref name="CNNskin">{{cite web | url = https://money.cnn.com/magazines/business2/business2_archive/2006/11/01/8392016/index.htm | title = Getting in the Skin Game | access-date = 2007-03-07 | last = Sloan | first = Paul |date=2007-02-13 | work = CNNMoney.com | publisher = Cable News Network LP, LLLP | quote = Francis Koenig, a former Wall Street hedge fund executive who is now based in Los Angeles, believed that there were riches to be made by matching investors with 'adult entertainment' companies. | archive-url= https://web.archive.org/web/20070309202221/https://money.cnn.com/magazines/business2/business2_archive/2006/11/01/8392016/index.htm| archive-date= 9 March 2007 <!--DASHBot-->| url-status=dead}}</ref><ref name=Bloomberg>{{cite web|title=Company Overview of AdultVest, Inc.|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=43500310|date=April 21, 2016|work=Bloomberg|publisher=Bloomberg}}</ref>
Only accredited investors may invest in the fund and it caters to investors willing to invest more than one million dollars.<ref name="CNNskin" /> The firm is a former winner of the Hedge Fund Launch of the Year Award.<ref name=Atlantic>{{cite web |title=Dirty Sexy Money |url=https://www.theatlantic.com/doc/200901/porn |last=Johansmeyer |first=Tom |date=January 2009 |work=The Atlantic |publisher=The Atlantic Monthly Group}}</ref>
==Accusation== In January 2009, ''The Atlantic'' reported Koenig stating that AdultVest had made a 50% return.<ref name=Atlantic/> The ''Business Insider'' stated that they were "deeply skeptical" about Koenig's claim of a 50% return because when they asked him how the company had made the money, Koenig referred to "valuing assets like iPhone porn startups and unsold domain names".<ref>{{cite web |title=Porn-Investing Hedge Fund Claims 50% Return |url=http://www.businessinsider.com/2009/1/porn-investing-hedge-fund-claims-50-return |last=Weisenthal |first=Joe |work=The Business Insider |date=2009-01-06}}</ref>
==Exoneration== According to private equity source, FINAlternatives, and the SEC's exoneration letter referenced in the article, Koenig was misquoted. The actual 50% claim was, instead, a 50% increase in the per unit buy-in price based on the fund's progress.<ref>{{cite web|url=http://www.finalternatives.com/node/7519|title=Porn Hedge Fund Founder Defends Investment Decisions|last=|first=|date=2009-04-08|work=FINtech|publisher=FINalternatives|url-status=live|archive-url=https://web.archive.org/web/20110101184451/http://www.finalternatives.com/node/7519 |archive-date=2011-01-01 |access-date=}}</ref>
The SEC reviewed the company and concluded that all funds were correctly accounted for, and the fraud case was closed in April 2010, with Koenig being exonerated in an official letter.<ref name="Business Insider">{{cite web |title=Porn Hedge Fund Accused Of Fraud, Exonerated |url=http://www.businessinsider.com/porn-hedge-fund-accused-of-fraud-2009-4 |date=April 10, 2009 |work=Business Insider |last=Weisenthal |first=Joe"}}</ref>
==See also== * Bad Dragon
==References== {{reflist|2}}
==External links== *[http://www.adultvest.com Official Website] *[https://myplusone.com/collections/bundles Plusone Sex Toy]
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Category:Hedge fund firms in California Category:2005 establishments in California Category:Sex industry in the United States Category:American companies established in 2005 Category:Financial services companies established in 2005 Category:Companies based in Beverly Hills, California Category:Investment companies of the United States