Wave Select 5 Crypto Index Fund, LP is a hedge fund based in Los Angeles, California. According to its most recent Form D, filed Nov 13, 2025, the fund has sold $7,019,951 of interests to 7 investors since its first sale in May 2021. The minimum investment it accepts from an outside investor is $50,000. 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 Benjamin Tsai; Wave Digital Assets LLC; Jennifer Anderson.
Performance
No verified returns have been reported for this fund. Hedge fund returns are not part of SEC filings; managers report them to AltMountain directly.
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- Total raised
- $7,019,951Cumulative sales reported on Form D
- Investors
- 7
- First sale
- May 11, 2021
- Minimum investment
- $50,000
- 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
- Benjamin Tsai; Wave Digital Assets LLC; Jennifer Anderson
- Latest Form D
- Nov 13, 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. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about Wave Select 5 Crypto Index Fund, LP
What is the minimum investment for Wave Select 5 Crypto Index Fund, LP?
According to its latest Form D, filed Nov 13, 2025, the minimum investment Wave Select 5 Crypto Index Fund, LP accepts from an outside investor is $50,000.
Who can invest in Wave Select 5 Crypto Index Fund, LP?
Wave Select 5 Crypto Index Fund, 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 Wave Select 5 Crypto Index Fund, LP raised?
Wave Select 5 Crypto Index Fund, LP reports $7,019,951 sold from 7 investors on its Form D filed Nov 13, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is Wave Select 5 Crypto Index Fund, LP based?
Wave Select 5 Crypto Index Fund, LP is based in Los Angeles, California.
When did Wave Select 5 Crypto Index Fund, LP launch?
Wave Select 5 Crypto Index Fund, LP reports its first sale in May 2021, 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 hedge fund
Raised more than 31% of the 1,060 hedge funds based in California, and more than 18% of all 10,308 that report sales.