AltMountain

Averill Fund, Ltd.

Grand Cayman, Cayman Islands · CIK 1807808 · Managed by Montanova Capital, LLC
Offshore

Averill Fund, Ltd. is a hedge fund based in Grand Cayman, Cayman Islands. According to its most recent Form D, filed Jul 15, 2026, the fund has sold $282,986,606 of interests to 46 investors since its first sale in Mar 2020. The minimum investment it accepts from an outside investor is $100,000. It relies on the Section 3(c)(7) exclusion, so investors generally must be qualified purchasers. The offering uses Rule 506(b), which does not permit general solicitation. Related persons named in the filing include Montanova Capital, LLC; Aaron Cowen; William Shaw.

Performance

13F estimate · public data only

No verified returns have been reported for this fund. As a rough guide, Montanova Capital, LLC, which manages it, disclosed U.S. stock holdings that returned an estimated +22.0% 2026 YTD through Jun 30 (S&P 500: +9.5%), based only on its public 13F filings. Over a longer period, Q3 2024 to Q2 2026, the estimate is +68.6% (S&P 500: +37.2%).

This estimate covers the firm's whole disclosed long U.S. stock portfolio. It is not this fund's return and excludes dividends, fees, shorts, derivatives, bonds, cash and trading within each quarter.

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Total raised
$282,986,606Cumulative sales reported on Form D
Investors
46
First sale
Mar 23, 2020
Minimum investment
$100,000
Who can invest
Qualified purchasersSection 3(c)(7): generally $5M+ in investments
Offering exemption
Rule 506(b)No general advertising
Key people and entities
Montanova Capital, LLC; Aaron Cowen; William Shaw
Latest Form D
Jul 15, 2026

From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction

Questions about Averill Fund, Ltd.

What is the minimum investment for Averill Fund, Ltd.?

According to its latest Form D, filed Jul 15, 2026, the minimum investment Averill Fund, Ltd. accepts from an outside investor is $100,000.

Who can invest in Averill Fund, Ltd.?

Averill Fund, Ltd. is generally open only to qualified purchasers (generally individuals with at least $5 million in investments), because it relies on Section 3(c)(7). It uses Rule 506(b), which does not allow general advertising.

How much has Averill Fund, Ltd. raised?

Averill Fund, Ltd. reports $282,986,606 sold from 46 investors on its Form D filed Jul 15, 2026. This is cumulative sales since the offering began, not current assets or performance.

Where is Averill Fund, Ltd. based?

Averill Fund, Ltd. is based in Grand Cayman, Cayman Islands and is managed by Montanova Capital, LLC.

When did Averill Fund, Ltd. launch?

Averill Fund, Ltd. reports its first sale in Mar 2020.

Size compared with every hedge fund

Raised more than 66% of the 2,363 hedge funds based in Cayman Islands, and more than 74% of all 10,308 that report sales.

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