Innovation X SPV I, LLC

Absence of prior EDGAR filings means this manager has either operated below the $150M AUM threshold until now, exited a previous fund without filing its own ADV, or is new to the SEC's reporting universe; the 06b exemption coupled with three named GPs implies a closed LP base built on pre-existing relationships rather than an open fundraising operation, constraining the addressable market but reducing pressure to deploy capital broadly.

A May 2026 filing for a $95M PE fund aligns with the post-rate-cut fundraising window when dry powder deployed in 2023–2024 is maturing and LPs are re-checking allocations; the mid-year timing suggests preparation for Q3 close or a year-end capital call, positioning the fund to deploy in early 2027 when refinancing windows and strategic M&A accelerate.

Before committing, verify whether Roger Monteforte has key-man status tied to distributions or management fee waivers, since individual GP naming often carries carve-outs that affect LP economics; also confirm whether Innovation X Capital Management II has filed as an RIA or is purely managing this SPV, as the latter signals no external advisory history to reference for this team.