New Circle Industrial LLC is a real estate fund based in Lexington, Kentucky. According to its most recent Form D, filed Jan 8, 2026, it has sold $650,000 of interests to 13 investors since its first sale in Dec 2025. The minimum investment it accepts from an outside investor is $25,000. 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 Joseph Back; Michael Zhu.
- Total raised
- $650,000Cumulative sales reported on Form D
- Investors
- 13
- First sale
- Dec 5, 2025
- Minimum investment
- $25,000
- Who can invest
- Not stated
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Joseph Back; Michael Zhu
- Latest Form D
- Jan 8, 2026
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 New Circle Industrial LLC
What is the minimum investment for New Circle Industrial LLC?
According to its latest Form D, filed Jan 8, 2026, the minimum investment New Circle Industrial LLC accepts from an outside investor is $25,000.
Who can invest in New Circle Industrial LLC?
New Circle Industrial LLC is generally open only to investors who meet the eligibility rules in its offering documents. It uses Rule 506(b), which does not allow general advertising.
How much has New Circle Industrial LLC raised?
New Circle Industrial LLC reports $650,000 sold from 13 investors on its Form D filed Jan 8, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is New Circle Industrial LLC based?
New Circle Industrial LLC is based in Lexington, Kentucky.
When did New Circle Industrial LLC launch?
New Circle Industrial LLC reports its first sale in Dec 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 real estate fund
Raised more than 71% of the 28 real estate funds based in Kentucky, and more than 27% of all 7,351 that report sales.