OR-0420 Fund II, a series of MV Funds, LP

No prior EDGAR filings from this manager suggest either a newly formed GP entity, a sub-advised vehicle, or a manager operating primarily through direct relationships outside the public markets infrastructure; the 06b exemption and pre-existing-relationships-only language confirm this is a closed, relationship-driven continuation rather than a broad-market fundraise.

A mid-2026 filing for a $1M target in venture capital is either a placeholder vehicle for a larger continuing commitment or a genuinely small successor fund; timing alignment with post-AI hype rationalization and LP re-allocation cycles makes sense, but the target size is atypically modest for a second vintage and suggests either niche focus, GP reinvestment, or an incomplete filing.

Before committing, confirm whether this $1M target is a minimum commitment threshold (with the actual fund size to be disclosed later), verify the identity and continuity of Fund I's GPs since they are not named here, and request Fund I's final or most recent valuation statement and J-curve to assess whether the prior vintage justifies a continuation.