SEC Filing Record

Offering Amount

$1.1M

Strategy

VC

Exemption

06b

Date Filed

Jun 04, 2026

0002133931-26-000001

View on SEC EDGAR →

37A Read

This is a single-GP venture syndicate filing under the 06b exemption, which means Kelly is operating as a fund manager relying on pre-existing investor relationships rather than open market fundraising—a structure typically used for smaller, tightly-held vehicles where the GP has already identified LPs or operates within a defined network.

With no prior EDGAR filings from this manager, this represents Kelly's first documented fund filing and signals either a new entry into formal fund management or a prior operating history conducted entirely outside SEC filing requirements; the $1M target and syndicate structure suggest an emerging or specialty manager focusing on individual deal syndication rather than building a larger institutional fund platform.

A mid-2026 filing during accelerating venture market consolidation and LP rebalancing into smaller-check, founder-friendly vehicles makes sense, particularly as emerging managers without track record begin formalizing lightweight syndicate structures to capture deal flow from networks exhausted by larger fund vintages.

Verify whether Kelly has key-man language in the LPA and whether this filing is truly the first fund vehicle or a placeholder re-filed after earlier operating activity; also confirm whether Propel(x) Syndicates LLC is the actual GP entity or a wrapper, as syndicate platforms sometimes file under multiple legal structures that can obscure manager continuity.

Full analysis (GP structure, exemption breakdown, and market context) is available to Pro members.

Unlock Pro · $29/month → Sign in

Principals

General Partners & Executives

Tim Kelly

Propel(x) Syndicates LLC - GrepVC Zippedi