Paradigm Fund Series 1, LP

The reliance on Regulation 06b (no public solicitation) signals this manager is building from a closed network of pre-existing relationships rather than conducting broad LP fundraising, which typically reflects either a strategy targeting a specific LP cohort, recent departure from an established platform, or a team still establishing institutional credibility.

A mid-2026 filing for a $25M hedge fund in a period of tightening capital allocation and elevated manager formation suggests either conviction that a specific market inefficiency or sector timing window justifies entry now, or that the GPs have already secured commitment from an anchor LP and are filing to formalize the vehicle.

Before committing, verify the key-man provisions tied to each of the three named GPs—specifically whether fund operations or LP redemption restrictions depend on all three principals remaining active, and confirm whether any of Sullivan, Runnels, or Timmons have regulatory or compliance history that would appear outside EDGAR filings.