Wave-FR-1114 Fund I, a series of AngelList Funds 2025, LP

SEC Filing Record

Offering Amount

$0.0M

Strategy

Exemption

06b

Date Filed

May 28, 2026

0002102270-26-000002

View on SEC EDGAR →

37A Read

The $0M target signals a placeholder filing under the AngelList Funds 2025 series structure, meaning this vehicle will likely operate as a feeder into AngelList's master fund architecture rather than as a standalone LP-facing entity, which affects how capital calls, fee splits, and reporting will flow to LPs.

With no prior EDGAR filings from this manager and only two unnamed GPs, this represents either a new manager operating through AngelList's platform for the first time or an established angel syndicate formalizing into a regulated fund vehicle—the exemption 06b reliance on pre-existing relationships suggests the GPs are building on direct relationships rather than building a brand-stage institutional practice.

Filing in May 2026 positions this vehicle to deploy capital into what will be mid-market Series A and downstream financings in H2 2026 and 2027, when round sizes have stabilized post-correction and LP dry powder from 2024–2025 fundraising has matured into deployment cycles.

Verify whether AngelList has named or publicly identified the two GPs elsewhere on its platform or SEC filings, since they are not listed in this filing—this gap either reflects AngelList's structural practice of anonymizing GPs in feeder vehicles or signals incomplete disclosure that should be clarified before LP commitment.

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Principals

Registered Manager

Fund GP, LLC

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