Sophia Space May 2026 a Series of BAG Ventures SPV LLC

Brett Sagan and LLC Sydecar co-manage this vehicle with no prior EDGAR filings on record, suggesting this is either a first-time manager entering the SEC filing regime or a manager previously operating below the filing threshold; the two-GP structure with a legal entity (Sydecar) likely handling administration points to a hybrid operational model where Sagan leads investment while outsourcing compliance.

A June 2026 filing under 506(b) with pre-existing relationships only indicates a closed fundraising cycle rather than a broader market window; this timing aligns with year-end LP commitment periods and suggests the fund is consolidating commitments from existing LPs rather than opening a new allocation window.

Verify whether this SPV has a key-person clause tied solely to Sagan and what happens to the fund's governance if he departs; also confirm the final capitalization target and whether follow-on closings are planned, since $0M placeholders sometimes mask incomplete information about total capital commitment authority.