FPG Ad Ultra II, LP is a venture capital fund based in Chicago, Illinois. According to its most recent Form D, filed May 15, 2025, it has sold $9,291,081 of interests to 35 investors since its first sale in May 2025. The minimum investment it accepts from an outside investor is $151,500. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(b), which does not permit general solicitation. Based on its first sale date and the amount raised, AltMountain classifies it as an emerging manager. Related persons named in the filing include FPG Partners IV GP, LLC; First Principles Group Management, LLC; Robert Maurer.
- Total raised
- $9,291,081Cumulative sales reported on Form D
- Investors
- 35
- First sale
- May 1, 2025
- Minimum investment
- $151,500
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- FPG Partners IV GP, LLC; First Principles Group Management, LLC; Robert Maurer
- Latest Form D
- May 15, 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 FPG Ad Ultra II, LP
What is the minimum investment for FPG Ad Ultra II, LP?
According to its latest Form D, filed May 15, 2025, the minimum investment FPG Ad Ultra II, LP accepts from an outside investor is $151,500.
Who can invest in FPG Ad Ultra II, LP?
FPG Ad Ultra II, 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(b), which does not allow general advertising.
How much has FPG Ad Ultra II, LP raised?
FPG Ad Ultra II, LP reports $9,291,081 sold from 35 investors on its Form D filed May 15, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is FPG Ad Ultra II, LP based?
FPG Ad Ultra II, LP is based in Chicago, Illinois and is managed by First Principles Group.
When did FPG Ad Ultra II, LP launch?
FPG Ad Ultra II, LP reports its first sale in May 2025, 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 69% of the 148 venture capital funds based in Illinois, and more than 87% of all 15,160 that report sales.