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EX-99.2P STOCK LTR 16 f99pinitialcapitalization.htm INITIAL CAPITAL AGREEMENTS Vertical Capital Income Fund - Initial Capital Agreement 2



SUBSCRIPTION AGREEMENT BETWEEN THE FUND AND THE INVESTORS


VERTICAL CAPITAL INCOME FUND


LETTER OF INVESTMENT INTENT



To the Board of Trustees of Vertical Capital Income Fund:


The undersigned (the "Purchasers") each hereby subscribes to purchase a beneficial interest ("Interest") in the Vertical Capital Income Fund, in the amount of $50,000.00 for 5,000 shares at net asset value of $10.00 per share, in consideration for which each Purchaser agrees to transfer to you upon demand cash in the amount of $50,000.00.


The Purchasers agree that the Interests are being purchased for investment purposes only and with no present intention of reselling or redeeming said Interest.



Effective: September 22, 2011




By:/s/Christopher Chase

By:/s/Gustavo Altuzarra

Christopher Chase

Gustavo Altuzarra on behalf of the

Gustavo & Kelly Altuzarra Trust