The Aviator Fund I, LLC (the “Fund”) is an investment vehicle managed by the Aviator Investment Group, Inc. (the “Manager”).

The business of the Fund is to trade speculatively in commodity interests. In order to achieve this objective, the Manager allocates all or a portion of the Fund’s assets to one or more commodity trading advisors who have demonstrated an ability to achieve capital appreciation while attempting to maintain a controlled level of risk. A Trading Advisor may invest the Fund’s assets in a variety of commodity interests using a wide range of trading techniques and strategies. The Manager shall have the sole discretion in and responsibility for the selection of the Trading Advisors.

The Manager believes that the Fund provides an attractive and effective vehicle to implement the Trading Advisor’s program(s) for the benefit of investors. In particular, the Fund provides an investment structure in which the assets of investors may be pooled, thereby enabling such investors to participate in a portfolio of commodity interests at a level of diversification that might not otherwise be available if a separate account were created to accommodate each Investor. Furthermore, unlike a separate account, the liability of each investor in the Fund will be limited to the capital that he or she invests in the Fund.

Trading in commodities is not intended as a replacement for investing in traditional asset classes, but rather as a possible enhancement to a traditional portfolio. There has historically been a degree of non-correlation between the returns realized on certain commodity interest trading and those on stocks and bonds. This non-correlation suggests that commodity trading can, in certain circumstances, be a valuable complement to a traditional portfolio.

Commodity trading, however, involves substantial risks due in part to its highly speculative nature. This Private Placement Memorandum describes the risks associated with the Fund, as well as its objective, investment program and fees and expenses.