HDR Fund LLC is a private equity fund based in San Juan, Puerto Rico. According to its most recent Form D, filed Nov 4, 2025, it has sold $23,002,000 of interests to 4 investors since its first sale in Oct 2025. 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 Jose Chipi Millares.
- Total raised
- $23,002,000Cumulative sales reported on Form D
- Investors
- 4
- First sale
- Oct 2, 2025
- 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
- Jose Chipi Millares
- Latest Form D
- Nov 4, 2025
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. Returns are not part of SEC filings. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about HDR Fund LLC
What is the minimum investment for HDR Fund LLC?
HDR Fund LLC's latest Form D, filed Nov 4, 2025, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in HDR Fund LLC?
HDR Fund LLC 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 HDR Fund LLC raised?
HDR Fund LLC reports $23,002,000 sold from 4 investors on its Form D filed Nov 4, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is HDR Fund LLC based?
HDR Fund LLC is based in San Juan, Puerto Rico.
When did HDR Fund LLC launch?
HDR Fund LLC reports its first sale in Oct 2025, 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 private equity fund
Raised more than 80% of the 162 private equity funds based in Puerto Rico, and more than 53% of all 9,142 that report sales.