HCM S20b LP
HCM S20b LP is a venture capital fund based in San Francisco, California. Its most recent Form D, filed Nov 28, 2025, reports no sales yet. The filing does not set a minimum investment. It relies on the Section 3(c)(7) exclusion, so investors generally must be qualified purchasers. The offering uses Rule 506(b), which does not permit general solicitation. Related persons named in the filing include Armaan Ali.
- Total raised
- $0Cumulative sales reported on Form D
- Investors
- 0
- First sale
- —
- Minimum investment
- None set
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Armaan Ali
- Latest Form D
- Nov 28, 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 HCM S20b LP
What is the minimum investment for HCM S20b LP?
HCM S20b LP's latest Form D, filed Nov 28, 2025, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in HCM S20b LP?
HCM S20b LP is generally open only to qualified purchasers (generally individuals with at least $5 million in investments), because it relies on Section 3(c)(7). It uses Rule 506(b), which does not allow general advertising.
How much has HCM S20b LP raised?
HCM S20b LP's latest Form D, filed Nov 28, 2025, reports no sales yet.
Where is HCM S20b LP based?
HCM S20b LP is based in San Francisco, California.
Size compared with every venture capital fund
This fund hasn't reported any sales yet.