AltMountain

iCapital - Millennium Drawdown Fund, Ltd.

New York, NY · CIK 1891916 · Managed by Icapital Advisors, LLC

iCapital - Millennium Drawdown Fund, Ltd. is a hedge fund based in New York, New York. According to its most recent Form D, filed Dec 9, 2025, the fund has sold $67,269,138 of interests to 212 investors since its first sale in Oct 2021. The filing does not set a minimum investment. 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 Icapital Advisors, LLC; Max Schwartz.

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
$67,269,138Cumulative sales reported on Form D
Investors
212
First sale
Oct 1, 2021
Minimum investment
None set
Who can invest
Qualified purchasersSection 3(c)(7): generally $5M+ in investments
Offering exemption
Rule 506(b)No general advertising
Key people and entities
Icapital Advisors, LLC; Max Schwartz
Latest Form D
Dec 9, 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. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction

Questions about iCapital - Millennium Drawdown Fund, Ltd.

What is the minimum investment for iCapital - Millennium Drawdown Fund, Ltd.?

iCapital - Millennium Drawdown Fund, Ltd.'s latest Form D, filed Dec 9, 2025, does not set a minimum investment. Managers can still require one in the offering documents.

Who can invest in iCapital - Millennium Drawdown Fund, Ltd.?

iCapital - Millennium Drawdown 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 iCapital - Millennium Drawdown Fund, Ltd. raised?

iCapital - Millennium Drawdown Fund, Ltd. reports $67,269,138 sold from 212 investors on its Form D filed Dec 9, 2025. This is cumulative sales since the offering began, not current assets or performance.

Where is iCapital - Millennium Drawdown Fund, Ltd. based?

iCapital - Millennium Drawdown Fund, Ltd. is based in New York, New York and is managed by Icapital Advisors, LLC.

When did iCapital - Millennium Drawdown Fund, Ltd. launch?

iCapital - Millennium Drawdown Fund, Ltd. reports its first sale in Oct 2021.

Size compared with every hedge fund

Raised more than 48% of the 2,544 hedge funds based in New York, and more than 51% of all 10,308 that report sales.

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