Parakeet Health May 2026 a Series of CGF2021 LLC

With no prior EDGAR filings attributable to this manager, this appears to be either a first fund from the partnership or a first filing to the SEC—the two-GP structure and venture focus signal either a newly formalized team or a transition from previous operating arrangements, though the use of Sydecar (a known fintech/cap table platform) as a named GP is unusual and warrants clarification on whether Sydecar is providing operational services or acting as a co-investment partner.

A May 2026 filing in venture capital at a $3M target arrives amid persistent LP dislocation from early-stage venture and prior-year dry powder; this smaller fund size and pre-existing-relationships exemption indicate the managers are moving forward without broad market testing, which either reflects conviction in a defined investor base or signals difficulty raising at larger size in the current environment.

Verify whether Brett Sagan holds any restricted person status, any compliance history, or any prior venture fund involvement not captured in SEC filings; also confirm Sydecar's exact role and economics in the partnership structure, as its dual function as both GP and potentially a third-party service provider creates fee and conflict ambiguity that must be transparent to LPs.