MXI2 RANGER PUBLIC ONSHORE FUND LP

The absence of prior EDGAR filings under this GP means this is a first institutional raise, making this vehicle a proof-of-concept for whether Telles can attract LP capital on a standalone basis; the $6M target is consistent with a debut fund designed to validate strategy and ops before scaling.

A May 2026 filing for a hedge fund launch aligns with late-spring LP capital deployment windows and suggests Telles either secured commitments from his existing network (consistent with the 06b no-solicitation exemption) or is moving to formalize conversations with prospects who have already expressed interest.

Before committing, confirm whether Telles has a key-person provision tied solely to himself and what the fund's redemption terms and fee structure are—solo-operator hedge funds at this size often carry higher operational risk if the GP becomes unavailable, and restrictive redemption windows can lock LPs into illiquidity that a $6M AUM may not justify.