SEC Filing Record

Offering Amount

$0.7M

Strategy

VC

Exemption

06b

Date Filed

May 19, 2026

0002128846-26-000001

View on SEC EDGAR →

37A Read

The single-named SPV structure with a $1M target signals a continuation vehicle or separately managed account rather than a flagship fund, allowing Patricia Costello to deploy capital for a specific LP or co-invest alongside a larger fund without full LP governance overhead.

The absence of prior EDGAR filings from this manager indicates either a first institutional fund from Costello, a prior practice of operating below the $25M filing threshold, or deployment through another entity—making this filing the first public record of institutional venture activity under this manager name.

Mid-2026 timing for a $1M venture vehicle aligns with Q2 allocation cycles and suggests Costello is filling a specific gap—either a follow-on for an existing LP relationship, a geographic or sector play where smaller ticket sizes are intentional, or a test vehicle before scaling.

Verify whether this SPV has a key-man clause naming Costello and confirm whether a larger fund or GP entity exists upstream; the 06b exemption permits only pre-existing relationships, so confirm the LP roster is genuinely closed or if this filing precedes a broader raise under a different vehicle.

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Principals

Registered Manager

Portfolia Venture Management LLC

General Partners & Executives

Patricia Costello

Portfolia 2026 SPV 2 LLC