Other · May 15, 2026 · 06b

ORLI Oncology Ventures II SPV, LLC

Offering

$0.4M

Analysis

This is a continuation vehicle in the ORLI Partners series—the II designation indicates a successor fund to an established flagship—structured as an SPV rather than a traditional LP fund, which typically signals either a single-LP dedicated vehicle or a co-investment feeder for a larger institutional commitment that anchors the raise.

ORLI Partners operates as a single-GP shop with no prior EDGAR filings, meaning this oncology-focused manager either predates SEC filing requirements, operates primarily through direct relationships without public-market capital raising, or is filing for the first time to formalize a second institutional vehicle after runway success in vintage I.

A May 2026 filing for an oncology venture fund aligns with strengthening biotech M&A exit velocity and renewed LP appetite for life sciences secondaries and follow-on rounds after 2024–2025 cap deployment cycles, though the $0M placeholder suggests either confidential fundraising terms or a rolling-close structure still in negotiation.

Before committing, verify whether ORLI Partners filed vintage I under a different entity name or SEC exemption category, confirm the key-man covenant scope in the LPA (oncology fund managers often face founder-dependency risk), and establish whether this SPV closes as a dedicated single-check vehicle or rolls into a larger fund vehicle post-close.

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ORLI Partners LLC

SEC EDGAR →

0002126245-26-000002