Additional Proxy Soliciting Materials (Form DEFA14A)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934

Check the appropriate box:

CNL STRATEGIC CAPITAL, LLC

(Exact name of Registrant as specified in its charter)

Payment of Filing Fee (Check the appropriate box):

CNL STRATEGIC CAPITAL, LLC

CNL Center at City Commons

450 South Orange Avenue

Orlando, Florida 32801

SUPPLEMENT TO PROXY STATEMENT

FOR THE 2026 SPECIAL MEETING OF SHAREHOLDERS

This supplement (this "Supplement") amends and supplements the definitive proxy statement on Schedule 14A filed by CNL Strategic Capital, LLC (the "Company") with the Securities and Exchange Commission on January 29, 2026 (the "Proxy Statement") in connection with the Company's 2026 Special Meeting of Shareholders (the "Meeting"), to be held on Monday, March 30, 2026 at 2:00 p.m., Eastern Time. The Company convened the Meeting as originally scheduled, but was unable to determine the presence of a quorum at the Meeting and adjourned the Meeting without conducting any business to Thursday, April 30, 2026 at 2:00 pm ET. Except as amended and supplemented above, all other information in the Proxy Statement remains unchanged. The record date for determining shareholder eligibility to vote at the reconvened Meeting will remain the close of business on January 27, 2026. Proxies previously submitted with respect to the Meeting will be voted at the reconvened Meeting unless properly revoked. This Supplement should be read in conjunction with the disclosures contained in the Proxy Statement, which should be read in its entirety. Terms used herein, unless otherwise defined, have the meanings set forth in the Proxy Statement.