Two Bear Capital Fund II, LP is a venture capital fund based in Whitefish, Montana. According to its most recent Form D, filed May 27, 2026, it has sold $122,755,000 of interests to 31 investors since its first sale in Jan 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(c), which permits general advertising to investors verified as accredited. Related persons named in the filing include Michael Goguen; General Partner Two Bear Capital Fund GP II, LLC.
- Total raised
- $122,755,000Cumulative sales reported on Form D
- Investors
- 31
- First sale
- Jan 13, 2025
- Minimum investment
- None set
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(c)May advertise; investors must be verified as accredited
- Key people and entities
- Michael Goguen; General Partner Two Bear Capital Fund GP II, LLC
- Latest Form D
- May 27, 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. 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 Two Bear Capital Fund II, LP
What is the minimum investment for Two Bear Capital Fund II, LP?
Two Bear Capital Fund II, LP's latest Form D, filed May 27, 2026, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in Two Bear Capital Fund II, LP?
Two Bear Capital Fund II, 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(c), so it may advertise, but every investor must be verified as accredited.
How much has Two Bear Capital Fund II, LP raised?
Two Bear Capital Fund II, LP reports $122,755,000 sold from 31 investors on its Form D filed May 27, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is Two Bear Capital Fund II, LP based?
Two Bear Capital Fund II, LP is based in Whitefish, Montana.
When did Two Bear Capital Fund II, LP launch?
Two Bear Capital Fund II, LP reports its first sale in Jan 2025.
Size compared with every venture capital fund
Raised more than 67% of the 3 venture capital funds based in Montana, and more than 98% of all 15,160 that report sales.