Blackfish Alpha, LP is a hedge fund based in Austin, Texas. According to its most recent Form D, filed Oct 20, 2026, the fund has sold $1,000,000 of interests to 1 investor since its first sale in Jan 2026. The filing does not set a minimum investment. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(b), which does not permit general solicitation. Based on its first sale date and the amount raised, AltMountain classifies it as an emerging manager. Related persons named in the filing include Blackfish Alpha GP, LLC; Blue Orca, LLC; Soren Aandahl.
Performance
No verified returns have been reported for this fund. Hedge fund returns are not part of SEC filings; managers report them to AltMountain directly.
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- Total raised
- $1,000,000Cumulative sales reported on Form D
- Investors
- 1
- First sale
- Jan 1, 2026
- Minimum investment
- None set
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Blackfish Alpha GP, LLC; Blue Orca, LLC; Soren Aandahl
- Latest Form D
- Oct 20, 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 Blackfish Alpha, LP
What is the minimum investment for Blackfish Alpha, LP?
Blackfish Alpha, LP's latest Form D, filed Oct 20, 2026, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in Blackfish Alpha, LP?
Blackfish Alpha, LP is generally open only to accredited investors, and it may have no more than 100 beneficial owners because it relies on Section 3(c)(1). It uses Rule 506(b), which does not allow general advertising.
How much has Blackfish Alpha, LP raised?
Blackfish Alpha, LP reports $1,000,000 sold from 1 investor on its Form D filed Oct 20, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is Blackfish Alpha, LP based?
Blackfish Alpha, LP is based in Austin, Texas and is managed by Blue Orca, LLC.
When did Blackfish Alpha, LP launch?
Blackfish Alpha, LP reports its first sale in Jan 2026, which makes it an emerging manager by AltMountain's definition (first sale in 2021 or later and under $50 million raised).
Size compared with every hedge fund
Raised more than 16% of the 631 hedge funds based in Texas, and more than 5% of all 10,308 that report sales.