SEC Filing Record

Offering Amount

$10.2M

Strategy

VC

Exemption

06b

Date Filed

May 26, 2026

0002135267-26-000001

View on SEC EDGAR →

37A Read

The single-GP structure with a $10M target and no parallel vehicles on record indicates this manager is deploying capital through discrete SPVs rather than a traditional commingled fund, a pattern typical of either emerging managers building track record or established operators who prefer direct LP relationships and deal-by-deal flexibility.

The absence of any prior EDGAR filings under Lior Susan's name means this is either a first institutional raise, a manager operating previously without SEC filings, or a recent entry into the formal fundraising process—in any case, LPs have no public record of prior fund performance, vintage returns, or operational history to evaluate.

A May 2026 filing in venture capital occurs in a rising rate environment with mixed LP appetite for early-stage; this timing suggests either conviction from existing relationships who are moving forward regardless of macro conditions, or positioning ahead of anticipated LP capital deployment cycles in Q3–Q4 2026.

Verify whether a key-man clause names Lior Susan exclusively and what happens to fund governance if that person is unavailable; also confirm the relationship history with named LPs to confirm the 506(b) exemption is properly supported, since a single-GP SPV with no track record creates higher operational and concentration risk.

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Principals

General Partners & Executives

LIOR SUSAN

Eclipse SPV XXXIII, L.P.