AN-0422 Fund III, a series of Also Capital, LP

The absence of named GPs and zero prior EDGAR filings from Also Capital create an opacity flag: this manager either operates below SEC reporting thresholds historically, is newly registered, or uses a structure where GP identity is withheld from public filings—all three scenarios require LP verification that fund governance, key-person protections, and actual investment decision-making authority are transparent in the legal documents.

Filing in May 2026 during an environment of LP cautious capital deployment and continued VC fundraising headwinds suggests the manager is either closing a Fund II commitment period and moving to deployment, or running a continuation vehicle to manage existing portfolio companies rather than launching a major new capital raise.

Verify whether this $2M offering is a final close placeholder or a genuine hard target, and confirm whether Fund II is still accepting capital or is already closed—also request the full GP schedule and any key-person provisions, since the absence of named GPs on the filing itself is unusual and requires clarification in the subscription documents.