Felt Clinic May 2026 a Series of CGF2021 LLC

This is the first EDGAR filing from this manager combination, meaning either Brett Sagan is launching a debut fund under a new Sydecar-administered structure, or an established manager is filing for the first time and likely has been operating through other holding structures off the public record—the 06b exemption choice confirms this is not a broad retail raise but rather a conversion of existing LP relationships into a formal vehicle.

A May 2026 filing in venture capital occurs in a post-downturn deployment window when LPs are recycling from 2021–2023 vintages and allocators are re-entering venture with smaller, tighter GP teams; the $0M placeholder suggests this may be a continuation closing or a test filing before a proper target is anchored, typical of managers waiting for anchor LPs to commit before publishing real capacity.

Before committing, verify whether Brett Sagan has operating history and prior fund exits that predate this EDGAR appearance, confirm the GP economics and management fee structure with Sydecar (many administrative platforms embed terms that affect net-to-LP returns), and clarify whether the $0M is a true placeholder with a firm target coming soon or reflects an actively fundraising vehicle with intentionally low initial capacity.