FA-0303 Fund I, a series of Umami Capital, LP

Two named GPs operating under 06b exemption (pre-existing relationships only) signals a bootstrap-stage manager relying on founder networks and existing LPs rather than broad-based capital raising, a structure typical of emerging managers without institutional fundraising infrastructure or brand recognition.

Filing in May 2026 positions this manager to capitalize on the mid-year LP allocation cycle and any rebalancing driven by 2025 venture performance; timing also allows deployment before Q4 tax-loss harvesting considerations that influence LP commitment timing.

Before committing, verify whether either named GP has prior venture operating or fund management experience outside EDGAR filings, confirm the extent of pre-existing LP relationships backing the 06b exemption (thin relationships could signal difficulty closing capital), and clarify when the $0M placeholder will be replaced with an actual target—a delayed amendment may indicate capital commitment challenges.