First Close Partners II AI, LP is a venture capital fund based in New York, New York. According to its most recent Form D, filed Mar 12, 2025, it has sold $4,575,000 of interests to 28 investors since its first sale in Sep 2022. The filing does not set a minimum investment. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(c), which permits general advertising to investors verified as accredited. Based on its first sale date and the amount raised, AltMountain classifies it as an emerging manager. Related persons named in the filing include Betsy Zimmerman; First Close Partners II GP, LP; First Close Partners Management, LLC.
- Total raised
- $4,575,000Cumulative sales reported on Form D
- Investors
- 28
- First sale
- Sep 30, 2022
- Minimum investment
- None set
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(c)May advertise; investors must be verified as accredited
- Key people and entities
- Betsy Zimmerman; First Close Partners II GP, LP; First Close Partners Management, LLC
- Latest Form D
- Mar 12, 2025
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Returns are not part of SEC filings. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about First Close Partners II AI, LP
What is the minimum investment for First Close Partners II AI, LP?
First Close Partners II AI, LP's latest Form D, filed Mar 12, 2025, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in First Close Partners II AI, LP?
First Close Partners II AI, LP is generally open only to accredited investors, and it may have no more than 100 beneficial owners because it relies on Section 3(c)(1). It uses Rule 506(c), so it may advertise, but every investor must be verified as accredited.
How much has First Close Partners II AI, LP raised?
First Close Partners II AI, LP reports $4,575,000 sold from 28 investors on its Form D filed Mar 12, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is First Close Partners II AI, LP based?
First Close Partners II AI, LP is based in New York, New York.
When did First Close Partners II AI, LP launch?
First Close Partners II AI, LP reports its first sale in Sep 2022, which makes it an emerging manager by AltMountain's definition (first sale in 2021 or later and under $50 million raised).
Size compared with every venture capital fund
Raised more than 66% of the 1,252 venture capital funds based in New York, and more than 81% of all 15,160 that report sales.