Ugly Duckling Fund, LP is a hedge fund based in Needham, Massachusetts. According to its most recent Form D, filed Dec 19, 2025, the fund has sold $2,000,000 of interests to 1 investor since its first sale in Nov 2025. The minimum investment it accepts from an outside investor is $1,000,000. 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 Immersion Investments LLC; David Polansky; J Delaney.
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
- $2,000,000Cumulative sales reported on Form D
- Investors
- 1
- First sale
- Nov 1, 2025
- Minimum investment
- $1,000,000
- 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
- Immersion Investments LLC; David Polansky; J Delaney
- Latest Form D
- Dec 19, 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 Ugly Duckling Fund, LP
What is the minimum investment for Ugly Duckling Fund, LP?
According to its latest Form D, filed Dec 19, 2025, the minimum investment Ugly Duckling Fund, LP accepts from an outside investor is $1,000,000.
Who can invest in Ugly Duckling Fund, LP?
Ugly Duckling Fund, 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 Ugly Duckling Fund, LP raised?
Ugly Duckling Fund, LP reports $2,000,000 sold from 1 investor on its Form D filed Dec 19, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is Ugly Duckling Fund, LP based?
Ugly Duckling Fund, LP is based in Needham, Massachusetts.
When did Ugly Duckling Fund, LP launch?
Ugly Duckling Fund, LP reports its first sale in Nov 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 hedge fund
Raised more than 9% of the 474 hedge funds based in Massachusetts, and more than 8% of all 10,307 that report sales.