Dial Ventures Fund II, LP

The absence of prior EDGAR filings for this manager indicates either a first institutional raise for Dial Ventures or prior fundraising conducted under different legal entities or exemptions; the 06b exemption (pre-existing relationships only) combined with only 26% of target raised suggests a tight LP base and slower momentum than a fund reaching close, typical of emerging managers still building institutional credibility.

Mid-2026 filing timing coincides with venture capital reallocation cycles post-2025 market normalization and potential LP rebalancing into early-stage after Series A/B dry-ups; however, the slow close rate (only $6M at filing) may also reflect that this raise began earlier and is still grinding through commitments rather than riding a market tailwind.

Before engaging, LPs should verify whether Michael Jung and Ben Williamson are both required to remain active to trigger key-man provisions and obtain their individual deal track records outside of formal filings, since Fund I has no public history and the manager's operational credibility rests entirely on these two individuals' prior investments.