SEC Filing Record

Offering Amount

$0.7M

Strategy

Other

Exemption

06b

Date Filed

May 20, 2026

0002134826-26-000001

View on SEC EDGAR →

37A Read

The three-GP structure—combining Paul Graham Ventures (likely the lead decision-maker), a dedicated fund administrator, and Richard Thoms as a named principal—signals a lean operational model where administration is outsourced rather than built in-house, typical of emerging managers bootstrapping their first vehicle.

With no prior EDGAR filings, this is the manager's initial fund on record, meaning allocators cannot evaluate continuity of strategy, GP stability, or whether this $1M raise is a proof-of-concept vehicle ahead of a larger follow-on or a standalone investment program.

A May 2026 filing for a $1M vehicle in the current market environment suggests either a micro-fund targeting founder/operator LPs with pre-existing relationships (the 506(b) exemption reinforces this), or a placeholder vehicle to test governance and legal infrastructure before scaling.

Before committing, verify whether Richard Thoms and Paul Graham Ventures have independently managed capital before, what the fund administrator's prior experience covers (tax reporting, compliance, LP servicing), and whether this filing represents a genuine $1M target or a holding structure pending a larger concurrent raise.

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

Unlock Pro · $29/month → Sign in

Principals

General Partners & Executives

LLC Paul Graham Ventures LLC Allocations Fund Administration, Richard Thoms

WAGMI 192 - WAGMI Master LLC