Tephra Digital Fund Ltd. is a hedge fund based in New York, New York. According to its most recent Form D, filed May 13, 2026, the fund has sold $4,440,528 of interests to 12 investors since its first sale in Jun 2022. The minimum investment it accepts from an outside investor is $250,000. 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. Based on its first sale date and the amount raised, AltMountain classifies it as an emerging manager. Related persons named in the filing include Tephra Digital LLC; Ryan Price; Raghav Chopra.
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
- $4,440,528Cumulative sales reported on Form D
- Investors
- 12
- First sale
- Jun 1, 2022
- Minimum investment
- $250,000
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Tephra Digital LLC; Ryan Price; Raghav Chopra
- Latest Form D
- May 13, 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 Tephra Digital Fund Ltd.
What is the minimum investment for Tephra Digital Fund Ltd.?
According to its latest Form D, filed May 13, 2026, the minimum investment Tephra Digital Fund Ltd. accepts from an outside investor is $250,000.
Who can invest in Tephra Digital Fund Ltd.?
Tephra Digital 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 Tephra Digital Fund Ltd. raised?
Tephra Digital Fund Ltd. reports $4,440,528 sold from 12 investors on its Form D filed May 13, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is Tephra Digital Fund Ltd. based?
Tephra Digital Fund Ltd. is based in New York, New York and is managed by Tephra Digital LLC.
When did Tephra Digital Fund Ltd. launch?
Tephra Digital Fund Ltd. reports its first sale in Jun 2022, 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 18% of the 2,544 hedge funds based in New York, and more than 14% of all 10,308 that report sales.