Proteus Series Feeder Fund IV, LLC - Growth Fund I

The absence of prior EDGAR filings from this manager, combined with a five-GP team and a $38M target, suggests either a new manager launching under an established operating entity, or an existing manager filing for the first time post-2013 (when Form ADV filings became the primary SEC touchstone); the 06b exemption—restricting raises to pre-existing relationships only—is consistent with either a newly-formed GP seeking to build an LP roster without general marketing, or an established relationship-driven manager that has operated below EDGAR visibility until now.

Filing an amendment in May 2026 indicates the GPs have either adjusted terms, expanded the LP roster, or extended the fundraising window after initial launch; mid-2026 positions this raise during a period when dry powder remains elevated but deployment velocity has accelerated, making successor funds in a series an attractive continuation vehicle for returning LPs seeking re-commitment without full new-fund underwriting.

Verify whether any of the five named GPs carry contractual key-person clauses tied to fund operations or LP consent thresholds—with no prior filing history and a feeder structure, LPs cannot cross-reference track record or GP stability across prior vintages, making GP continuity and LP governance rights the critical unknowns before commitment.