AS-0320 Fund I, a series of Exitfund Venture, LP

No prior EDGAR filings from this manager means Exitfund Venture is making its first registered appearance as a fund sponsor, which combined with the pre-existing relationships exemption indicates the GPs are bootstrapping capital from their own network rather than conducting broad market outreach—a pattern typical of emerging managers migrating from angel or internal venture roles.

Filing in May 2026 during a phase of stabilizing venture capital deployment after the 2024–25 pullback reflects timing when established LPs are revisiting emerging manager allocations and when operators-turned-GPs have had 12–18 months to build track records from earlier smaller checks.

Verify whether the two named GPs include a key-man clause tied to both individuals or just one, and confirm whether this is truly Fund I or a rebranded continuation of earlier unregistered vehicles, as emerging managers sometimes re-register under new SPV structures to reset fee schedules or LP terms.