Proteus Series Feeder Fund I, LLC - Series 1C

The five-GP structure with no prior SEC filings suggests either a newly-formed manager, a previously-private operation now entering the registered fund space, or an established operating group making its first formal capital raise; the 06b exemption limiting to pre-existing relationships signals a tightly-sourced round rather than an open fundraise, typical of emerging managers or teams spinning out from larger platforms.

A May 2026 filing for a $1M target in the feeder structure hints at either a proof-of-concept raise to test a new strategy before a larger Series 2 vintage, or a placeholder vehicle designed to accept committed capital while the manager builds out operational and compliance infrastructure—a timing pattern common as emerging managers transition from informal to registered status.

Verify whether this Series 1C amendment reflects material changes to GP economics, management fees, or LP voting rights from prior versions, and confirm with the manager whether this feeder connects to a specific master fund with disclosed terms and a committed closing date, as feeder vehicles without clear master-fund visibility create downstream reporting opacity.