PH-0520 Fund II, a series of Roll Up Vehicles, LP

The absence of prior EDGAR filings combined with a two-GP structure and 06b exemption signals this manager has operated below the $100M AUM threshold until now, relying on pre-existing LP relationships to raise capital without broad marketing—meaning LPs here are drawn from a closed network and should expect limited transparency compared to larger, registered alternatives.

A mid-2026 filing for a venture-focused roll-up vehicle positions the manager to deploy capital into add-on acquisitions during a period when earlier vintages have stabilized operational performance; this timing makes sense if Fund I achieved sufficient portfolio maturity to warrant follow-on rounds, though it also reflects the manager's first time accessing broader institutional capital markets.

Verify whether the $0M target is a true placeholder pending LP closes or a regulatory filing for a continuation/parallel vehicle with committed capital already deployed—this distinction determines whether the fund is actively raising or simply documenting an ongoing capital call structure for existing LPs.