Borderless Venture Fund (US) LP

With no prior EDGAR filings from this manager, Borderless is either the first institutional vehicle from these GPs or they've operated below the filing threshold until now; the 06c exemption choice—available to funds with fewer than 15 LPs or sub-$25M AUM—suggests they are either targeting a tight LP base or preparing for growth into a structure that will later require full registration.

A May 2026 filing for a $150M target arrives as LP dry powder in venture has remained elevated through 2025–2026 despite earlier market skepticism, and the amendment status (rather than initial filing) implies the GPs encountered early traction or LP feedback requiring terms adjustment, positioning this raise for Q3–Q4 2026 close timing aligned with H2 deployment windows.

Verify whether this amendment changed the fee structure, GP commitment, or clawback terms from the prior filing version—unavailable in this data—and confirm the identity and roles of the two unnamed GPs, as the public roster shows only three of five, creating uncertainty about decision-making authority and conflict-of-interest disclosures that would normally be visible in a full prospectus.