Weekly Fund Digest - December 17, 2025 | VC & PE Form D Filings

Note: "Amount Raised" reflects the total offering amount disclosed in SEC Form D filings. Funds reporting $0 are excluded from this digest. AUM data is sourced from Form ADV filings where available.

Venture Capital

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Health Velocity Capital III, L.P. filed for $300.0 million from their SAN MATEO, CA headquarters, health Velocity Capital, founded in 2014 and headquartered in San Mateo, California, is a venture capital firm led by Managing Partners Dan Neely and Eric Wood, with a team experienced in healthcare technology and software investments. The firm focuses on early- to growth-stage enterprise SaaS companies in healthcare IT, targeting solutions that enhance revenue cycle management, clinical workflows, and operational efficiency to drive better patient outcomes. Health Velocity Capital III, L.P., currently raising $300 million, builds on the firm's track record, which includes notable portfolio companies like Phreesia (NASDAQ: PHR) and CareCloud (NASDAQ: CCLD), alongside successful exits such as the sale of ZirMed to R1 RCM in 2017.

Mischief 3, L.P. filed for $165.0 million from their SAN FRANCISCO, CA headquarters, a venture capital fund based in SAN FRANCISCO, CA.

Garuda Ventures 2, L.P. filed for $50.0 million from their ORINDA, CA headquarters, a venture capital fund based in ORINDA, CA.

Draper Radiant SPV, L.P. filed for $29.2 million from their SAN MATEO, CA headquarters, a venture capital fund based in SAN MATEO, CA.

Delusional Fund I a Series of Delusional Capital LLC filed for $10.0 million from their CLAYMONT, DE headquarters, a venture capital fund based in CLAYMONT, DE.

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Thrive Capital Partners VI-J, LLC manages $23303.4 million AUM from their NEW YORK, NY headquarters, a venture capital fund based in NEW YORK, NY.

Private Equity

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Pearlmark Realty Senior Mortgage Partners I, L.P. filed for $1500.0 million from their CHICAGO, IL headquarters, pearlmark Partners, a Chicago-based real estate investment management firm founded in 1996 by Scott J. Alper and David W. Belman, oversees approximately $4 billion in assets and specializes in opportunistic and value-add strategies across commercial real estate sectors. Pearlmark Realty Senior Mortgage Partners I, L.P., launched in 2018, employs a conservative senior debt strategy, originating and acquiring first-lien mortgage loans on stabilized, institutional-quality multifamily, office, and industrial properties primarily in the Midwest and Southeast U.S., with a target fund size of $1.5 billion. The fund has demonstrated a strong track record of low default rates and attractive risk-adjusted returns, supported by Pearlmark's underwriting expertise and a portfolio that includes financing for over 50 properties totaling more than $1 billion in commitments as of 2023.

Pearlmark Realty Senior Mortgage Partners I-B, L.L.C. filed for $1500.0 million from their CHICAGO, IL headquarters, pearlmark Partners, a Chicago-based real estate investment management firm founded in 1996 by Michael Rosenbloom and a team of industry veterans, specializes in opportunistic and value-add strategies across commercial real estate sectors. The Pearlmark Realty Senior Mortgage Partners I-B, L.L.C. fund focuses on originating and acquiring senior secured mortgage loans for institutional-quality multifamily, office, and retail properties, primarily in the Midwest and Sunbelt regions, with a target offering size of $1.5 billion. The firm has a strong track record, having deployed over $5 billion in capital across multiple funds since inception, delivering consistent risk-adjusted returns through conservative lending practices and a disciplined underwriting approach.

NB Secondary Opportunities VI Access Fund, L.P. filed for $447.4 million from their NEW YORK, NY headquarters, the NB Secondary Opportunities VI Access Fund, L.P., is managed by Neuberger Berman Investment Advisers LLC, part of the New York-based Neuberger Berman Group, which was founded in 1939 and oversees approximately $484 billion in assets as of 2023, with a dedicated alternatives platform led by key executives including Dick Gilday, Global Head of Investment Solutions. This fund, targeting $447.4 million in commitments, employs a secondary private equity strategy focused on acquiring limited partner interests in diversified portfolios of existing buyout, venture capital, and other private funds, emphasizing mid-market opportunities in North America and Europe to provide liquidity and downside protection for investors. Neuberger Berman's secondary program has a track record spanning multiple vintages since 2005, with prior funds like Secondary Opportunities V achieving net IRR in the mid-teens, though specific performance details for Fund VI remain undisclosed pending full deployment.

NB Secondary Opportunities VI Access Fund (Offshore), L.P. filed for $45.9 million from their NEW YORK, NY headquarters, a private equity fund based in NEW YORK, NY.

EquityZen Growth Technology Fund LLC - Series 2141 filed for $0.3 million from their New York, NY headquarters, a private equity fund based in New York, NY.