Emerging hedge fund managers in Illinois
119 emerging hedge funds in Illinois: first sale in 2021 or later and under $50 million raised, largest first.
Fund
First sale
Raised
Investors
Minimum
YTD performance
Galaxy Plus Fund - Valent Tatum Series Master Fund (552) LLC
Wheaton, ILEmerging
First saleJan 2022
Raised$48.4M
Investors1
Minimum$100K
YTD performanceNot reported
AIR Legal Finance Fund, LP
Chicago, ILEmerging
First saleFeb 2023
Raised$42.4M
Investors49
Minimum$250K
YTD performanceNot reported
AKL Capital Fund I LP
Woodridge, ILEmerging
First saleSep 2021
Raised$42.2M
Investors19
Minimum$250K
YTD performanceNot reported
Warberg WF XIV LP
Winnetka, ILEmerging
First saleJun 2026
Raised$39.3M
Investors69
Minimum$50K
YTD performanceNot reported
Winchester Strategic Credit Partners L.P.
Chicago, ILEmerging
First saleJul 2022
Raised$36.4M
Investors51
Minimum$500K
YTD performanceNot reported
RVA Fund, LLC
Chicago, ILEmerging
First saleAug 2021
Raised$35.3M
Investors12
Minimum$1
YTD performanceNot reported
Galaxy Plus Fund LLC - Evolution Strategy Financials Feeder Fund (587)
Wheaton, ILEmerging
First saleOct 2024
Raised$35.0M
Investors1
Minimum$100K
YTD performanceNot reported
Commonwealth Structured Alpha Fund L.P.
Wheaton, ILEmerging
First saleOct 2021
Raised$34.0M
Investors1
Minimum$100K
YTD performanceNot reported
Warberg WF XIII LP
Winnetka, ILEmerging
First saleAug 2025
Raised$33.6M
Investors60
Minimum$80K
YTD performanceNot reported
ARB Flagship Multi-Strategy Series
Chicago, ILEmerging
First saleApr 2024
Raised$31.9M
Investors25
Minimum$250K
YTD performanceNot reported
Galaxy Plus Fund LLC - Dunn Commodities Feeder Fund (588)
Wheaton, ILEmerging
First saleDec 2024
Raised$31.4M
Investors2
Minimum$100K
YTD performanceNot reported
Lakeview Opportunity Fund LLC
Chicago, ILEmerging
First saleNov 2023
Raised$29.3M
Investors9
Minimum$1.0M
YTD performanceNot reported
Aleto Market Neutral Fund LP
Chicago, ILEmerging506(c)
First saleDec 2024
Raised$25.2M
Investors16
MinimumNone set
YTD performanceNot reported
Elena Partners Fund LP
Oakbrook Terrace, ILEmerging
First saleJan 2024
Raised$24.2M
Investors8
MinimumNone set
YTD performanceNot reported
CSTAR Blue Jay Fund, LLC
Chicago, ILEmerging
First saleJun 2021
Raised$23.2M
Investors13
Minimum$1
YTD performanceNot reported
Destiny Target Outcome Fund 2024-1 LLC
Chicago, ILEmerging506(c)
First saleFeb 2024
Raised$22.3M
Investors80
MinimumNone set
YTD performanceNot reported
Bluespruce Research Fund LP
Chicago, ILEmerging
First saleApr 2024
Raised$21.2M
Investors12
Minimum$5.0M
YTD performance-1.1%13F est. YTD · thru Q2 2026
Nineteen77 Working Capital Finance Opportunistic Fund LLC
Chicago, ILEmerging
First saleNov 2023
Raised$20.1M
Investors7
Minimum$100K
YTD performanceNot reported
Galaxy Plus Fund LLC - Trajectoire Indigo Feeder Fund (559)
Wheaton, ILEmerging
First saleOct 2021
Raised$19.0M
Investors6
Minimum$100K
YTD performanceNot reported
Kai Diversified Alternatives SP
Chicago, ILEmerging
First saleAug 2024
Raised$18.5M
Investors27
Minimum$250K
YTD performanceNot reported
Gordian Growth Fund, LLC
Lake Bluff, ILEmerging506(c)
First saleAug 2024
Raised$18.0M
Investors38
Minimum$100K
YTD performanceNot reported
Readystate F10 I LP
Chicago, ILEmerging
First saleJan 2025
Raised$17.9M
Investors8
Minimum$250K
YTD performance+2.9%13F est. YTD · thru Q2 2026
Galaxy Plus Fund - Principalium DUES Master Fund (555) LLC
Wheaton, ILEmerging
First saleNov 2021
Raised$17.6M
Investors2
Minimum$100K
YTD performanceNot reported
Galaxy Plus Fund - Trajectoire Indigo Master Fund (559) LLC
Wheaton, ILEmerging
First saleDec 2021
Raised$17.4M
Investors2
Minimum$100K
YTD performanceNot reported
HCM Cru, LP
Oakbrook, ILEmerging
First saleNov 2024
Raised$15.7M
Investors57
Minimum$15K
YTD performanceNot reported
Parkside Vps Fund, LP
Deerfield, ILEmerging
First saleJun 2021
Raised$15.3M
Investors41
MinimumNone set
YTD performanceNot reported
Blockchain Opportunity Fund, LLC
Park Ridge, ILEmerging506(c)
First saleApr 2021
Raised$15.1M
Investors41
Minimum$1.0M
YTD performanceNot reported
Rail-Splitter Micro Cap Rebound Fund, LP.
Chicago, ILEmerging
First saleMar 2022
Raised$15.0M
Investors30
Minimum$500K
YTD performanceNot reported
Galaxy Plus Fund - Evolution Strategy Financials Master Fund (587) LLC
Wheaton, ILEmerging
First saleOct 2024
Raised$14.9M
Investors1
Minimum$100K
YTD performanceNot reported
David Capital Partners Special Situation Fund, LP
Chicago, ILEmerging
First saleJan 2025
Raised$13.2M
Investors24
Minimum$500K
YTD performanceNot reported
Galaxy Plus Fund - Dunn Commodities Master Fund (588) LLC
Wheaton, ILEmerging
First saleDec 2024
Raised$12.6M
Investors1
Minimum$100K
YTD performanceNot reported
Galaxy Plus Fund - DCM Systematic Div Alpha Feeder Fund (556) LLC
Wheaton, ILEmerging
First saleFeb 2022
Raised$12.2M
Investors8
Minimum$100K
YTD performanceNot reported
Continuum Digital Asset Fund LLC
Chicago, ILEmerging
First saleJun 2023
Raised$12.1M
Investors33
MinimumNone set
YTD performanceNot reported
KAI Long Volatility Series of 4ALTS Platform, LLC
Chiacago, ILEmerging
First saleAug 2021
Raised$11.9M
Investors92
Minimum$250K
YTD performanceNot reported
Cohen Capital Value, LP
Springfield, ILEmerging
First saleJul 2021
Raised$11.4M
Investors23
Minimum$100K
YTD performanceNot reported
Bluespruce Concentrated Fund LP
Chicago, ILEmerging
First saleApr 2026
Raised$11.0M
Investors8
Minimum$25K
YTD performance-1.1%13F est. YTD · thru Q2 2026
BlueSpruce Diversified Fund LP
Chicago, ILEmerging
First saleApr 2026
Raised$11.0M
Investors8
Minimum$25K
YTD performance-1.1%13F est. YTD · thru Q2 2026
Altair CHP Fund II, LLC
Chicago, ILEmerging
First saleMay 2024
Raised$10.2M
Investors17
MinimumNone set
YTD performance+10.0%13F est. YTD · thru Q2 2026
AIR Legal Finance Fund Offshore, LP
Chicago, ILEmerging
First saleJan 2024
Raised$10.1M
Investors23
Minimum$250K
YTD performanceNot reported
Galaxy Plus Hedge Fund LLC - China Modified KWEB Fund (112)
Wheaton, ILEmerging
First saleDec 2024
Raised$10.0M
Investors1
Minimum$100K
YTD performanceNot reported
Ledyard Future of Financials Fund LP
Chicago, ILEmerging
First saleMay 2021
Raised$9.9M
Investors25
Minimum$1.0M
YTD performanceNot reported
Galaxy Plus Fund - Cane Kensington Opportunity Master Fund (546) LLC
Wheaton, ILEmerging
First saleNov 2021
Raised$9.3M
Investors2
Minimum$100K
YTD performanceNot reported
Anthem Superior Fund LP
Chicago, ILEmerging
First saleJan 2023
Raised$9.3M
Investors18
Minimum$250K
YTD performanceNot reported
Galaxy Plus Hedge Fund LLC - Watts Gwilliam Option Overlay Fund (110)
Wheaton, ILEmerging506(c)
First saleSep 2023
Raised$9.2M
Investors46
Minimum$100K
YTD performanceNot reported
Laniakea Special Opportunities Fund LLC
Chicago, ILEmerging
First saleOct 2023
Raised$9.1M
Investors18
Minimum$250K
YTD performanceNot reported
Q-Alpha Series
Chicago, ILEmerging
First saleJan 2024
Raised$8.7M
Investors3
Minimum$1.0M
YTD performanceNot reported
Squadron Fund LP
Westmont, ILEmerging
First saleAug 2023
Raised$8.1M
Investors21
Minimum$250K
YTD performanceNot reported
Galaxy Plus Fund LLC - Welton GDP Feeder Fund (538)
Wheaton, ILEmerging
First saleOct 2021
Raised$8.1M
Investors10
Minimum$100K
YTD performanceNot reported
Digital Asset Market Neutral Opportunities Fund SP
Chicago, ILEmerging
First saleSep 2023
Raised$7.8M
Investors10
Minimum$100K
YTD performanceNot reported
KAI Volatility Multi Strategy Series of 4ALTS PLATFORM, LLC
Chicago, ILEmerging
First saleAug 2022
Raised$7.5M
Investors72
Minimum$250K
YTD performanceNot reported
Pandora Hedged Strategy Fund I L.P.
Oakbrook Terrace, ILEmerging
First saleDec 2024
Raised$7.4M
Investors18
Minimum$100K
YTD performanceNot reported
Tocaya Event Fund LP
Chicago, ILEmerging
First saleAug 2023
Raised$6.9M
Investors11
MinimumNone set
YTD performanceNot reported
Galileo Value Investors, LP
Homer Glen, ILEmerging
First saleJul 2023
Raised$6.7M
Investors56
Minimum$100K
YTD performanceNot reported
Galaxy Plus Fund - Welton GDP Master Fund (538) LLC
Wheaton, ILEmerging
First saleNov 2021
Raised$6.6M
Investors1
Minimum$100K
YTD performanceNot reported
Mustang Fund LP
Chicago, ILEmerging
First saleMar 2022
Raised$6.6M
Investors27
MinimumNone set
YTD performanceNot reported
Galaxy Plus Hedge Fund-Falvey Capital Short-Term Private Credit (106)
Wheaton, ILEmerging
First saleMar 2022
Raised$6.6M
Investors14
Minimum$100K
YTD performanceNot reported
HEmerald Water Fund, L.P.
Long Grove, ILEmerging506(c)
First saleJul 2025
Raised$6.6M
Investors6
MinimumNone set
YTD performanceNot reported
Galaxy Plus Fund - Evolution Strategy Commodities Master Fund (586) LLC
Wheaton, ILEmerging
First saleOct 2024
Raised$6.6M
Investors1
Minimum$100K
YTD performanceNot reported
AIR U.S. Life Fund II Offshore LP
Chicago, ILEmerging
First saleMay 2023
Raised$6.6M
Investors26
MinimumNone set
YTD performanceNot reported
Galaxy Plus Fund LLC - NWOne Diversified Galaxy Series Feeder Fund (574)
Wheaton, ILEmerging
First saleDec 2023
Raised$6.1M
Investors6
Minimum$100K
YTD performanceNot reported
Distressed Credit Opportunities Fund II, L.P.
Chicago, ILEmerging
First saleOct 2025
Raised$6.0M
Investors2
Minimum$500K
YTD performanceNot reported
ARB-Virtuosic Digital Assets Opportunities Fund SP
Chicago, ILEmerging
First saleSep 2025
Raised$5.8M
Investors13
Minimum$250K
YTD performanceNot reported
Galaxy Plus Hedge Fund LLC - Endura Metalex African Oppty Fund (111)
Wheaton, ILEmerging
First saleOct 2023
Raised$5.8M
Investors4
Minimum$100K
YTD performanceNot reported
Galaxy Plus Fund - PlusPlus Global Alpha Master Fund (549) LLC
Wheaton, ILEmerging
First saleNov 2021
Raised$5.7M
Investors2
Minimum$100K
YTD performanceNot reported
Galaxy Plus Fund - NWOne Diversified Galaxy Series Master Fund (574) LLC
Wheaton, ILEmerging
First saleDec 2023
Raised$5.5M
Investors1
Minimum$100K
YTD performanceNot reported
Three North Capital Partners, LP
Wilmette, ILEmerging
First saleJun 2022
Raised$4.9M
Investors23
Minimum$500K
YTD performanceNot reported
CoVest Series SPV, LP - Grizzly Series
Chicago, ILEmerging
First saleJun 2024
Raised$4.7M
Investors1
Minimum$500K
YTD performance+7.3%13F est. YTD · thru Q2 2026
FTIS Enhanced Liquid Income Offshore Fund, Ltd.
Wheaton, ILEmerging506(c)
First saleJan 2023
Raised$4.6M
Investors16
Minimum$100K
YTD performanceNot reported
Galaxy Plus Fund - Conquest Quantitative Macro Master Fund (580) LLC
Wheaton, ILEmerging
First saleJul 2024
Raised$4.4M
Investors2
Minimum$100K
YTD performanceNot reported
Galaxy Plus Fund LLC - PlusPlus Global Alpha Feeder Fund (549)
Wheaton, ILEmerging
First saleNov 2021
Raised$4.2M
Investors10
Minimum$100K
YTD performanceNot reported
Acervus Fund LP
Glencoe, ILEmerging
First saleNov 2023
Raised$4.1M
Investors5
Minimum$1.0M
YTD performanceNot reported
Galaxy Plus Fund LLC - Principalium DUES Feeder Fund (555)
Wheaton, ILEmerging
First saleNov 2021
Raised$3.6M
Investors4
Minimum$100K
YTD performanceNot reported
Valyrian Quant Fund, LP
Chicago, ILEmerging
First saleSep 2023
Raised$3.3M
Investors5
Minimum$1.0M
YTD performanceNot reported
Raintree Venture Fund I LP
Naperville, ILEmerging
First saleJan 2026
Raised$3.0M
Investors14
MinimumNone set
YTD performanceNot reported
Galaxy Plus Fund LLC - Cane Kensington Opportunity Feeder Fund (546)
Wheaton, ILEmerging
First saleOct 2021
Raised$3.0M
Investors3
Minimum$100K
YTD performanceNot reported
HCM Hiber, LP
Oak Brook, ILEmerging
First saleNov 2025
Raised$3.0M
Investors50
MinimumNone set
YTD performanceNot reported
Symfore Fund LP
Rolling Meadows, ILEmerging
First saleMar 2021
Raised$3.0M
Investors9
Minimum$50K
YTD performanceNot reported
Galaxy Plus Fund LLC - Dormouse Feeder Fund (541)
Wheaton, ILEmerging
First saleOct 2021
Raised$2.9M
Investors2
Minimum$100K
YTD performanceNot reported
RoboSig FX Alpha Gen Series of 4ALTS PLATFORM, LLC
Chicago, ILEmerging
First saleFeb 2023
Raised$2.9M
Investors22
Minimum$100K
YTD performanceNot reported
ARI Founders Fund, LP
Chicago, ILEmerging
First saleJun 2021
Raised$2.8M
Investors15
Minimum$250K
YTD performance+17.5%13F est. YTD · thru Q2 2026
Senecal Fund I, LP
Chicago, ILEmerging
First saleApr 2022
Raised$2.7M
Investors12
MinimumNone set
YTD performanceNot reported
Galaxy Plus Fund - Dormouse Master Fund (541) LLC
Wheaton, ILEmerging
First saleNov 2021
Raised$2.6M
Investors1
Minimum$100K
YTD performanceNot reported
Fin International Small-Cap Fund, LP
Chicago, ILEmerging
First saleMay 2024
Raised$2.5M
Investors13
Minimum$500K
YTD performanceNot reported
Palmas Fund, LLC
Chicago, ILEmerging
First saleMar 2024
Raised$2.4M
Investors5
Minimum$500K
YTD performanceNot reported
333 Capital Series of 4Alts Platform LLC
Chicago, ILEmerging
First saleFeb 2024
Raised$2.2M
Investors7
Minimum$100K
YTD performanceNot reported
Eighth Wave Pairs Strategy Series of 4ALTS Platform, LLC
Chicago, ILEmerging
First saleJul 2023
Raised$2.0M
Investors11
Minimum$25K
YTD performanceNot reported
Skyli First Fund, LLC
Chicago, ILEmerging
First saleDec 2023
Raised$2.0M
Investors1
MinimumNone set
YTD performanceNot reported
KAI Dealer Flow Alpha Gen Series of 4ALTS Platform, LLC
Chiacago, ILEmerging
First saleAug 2021
Raised$1.7M
Investors135
Minimum$250K
YTD performanceNot reported
Galaxy Plus Fund LLC - Horizon3 Feeder Fund (577)
Wheaton, ILEmerging
First saleJan 2024
Raised$1.6M
Investors4
Minimum$100K
YTD performanceNot reported
Galaxy Plus Fund - Canturo Master Fund (585) LLC
Wheaton, ILEmerging
First saleOct 2024
Raised$1.6M
Investors2
Minimum$100K
YTD performanceNot reported
Galaxy Plus Fund - Horizon3 Master Fund (577) LLC
Wheaton, ILEmerging
First saleJan 2024
Raised$1.5M
Investors1
Minimum$100K
YTD performanceNot reported
AIR U.S. Life Fund V, LP
Chicago, ILEmerging
First saleApr 2022
Raised$1.5M
Investors6
Minimum$250K
YTD performanceNot reported
Cryptocache Partners, L.P.
Naperville, ILEmerging506(c)
First saleMay 2021
Raised$1.4M
Investors20
Minimum$9K
YTD performanceNot reported
Galaxy Plus Fund LLC - Canturo Feeder Fund (585)
Wheaton, ILEmerging
First saleOct 2024
Raised$1.1M
Investors4
Minimum$100K
YTD performanceNot reported
Galaxy Plus Fund LLC - Buttonwood Stock Index Feeder Fund (579)
Wheaton, ILEmerging
First saleMar 2024
Raised$1.0M
Investors2
Minimum$100K
YTD performanceNot reported
Alderran Capital Partners, LP
Palatine, ILEmerging
First saleMay 2025
Raised$1.0M
Investors3
Minimum$100K
YTD performanceNot reported
Blackbelt Series of 4Alts Platform LLC
Chicago, ILEmerging
First saleNov 2024
Raised$1.0M
Investors1
Minimum$250K
YTD performanceNot reported
Galaxy Plus Fund - Buttonwood Stock Index Master Fund (579) LLC
Wheaton, ILEmerging
First saleMar 2024
Raised$998K
Investors1
Minimum$100K
YTD performanceNot reported
Honeybear Crypto Club Fund 1 LLC
Chicago, ILEmerging
First saleFeb 2022
Raised$900K
Investors18
Minimum$25K
YTD performanceNot reported
Uptrak Systematic Global Macro Series
Chicago, ILEmerging
First saleAug 2024
Raised$900K
Investors2
Minimum$100K
YTD performanceNot reported
Aleto Market Neutral Fund Cayman Ltd.
Chicago, ILEmerging506(c)
First saleJul 2025
Raised$607K
Investors3
MinimumNone set
YTD performanceNot reported
DV Multi-Strategy Onshore Fund, LP
Chicago, ILEmerging
First saleAug 2026
Raised$600K
Investors6
Minimum$1.0M
YTD performanceNot reported
5Up3Down Fund LP
Peoria, ILEmerging506(c)
First saleOct 2025
Raised$600K
Investors1
Minimum$200K
YTD performanceNot reported
Tranquil Tide Fund, LP
Northbrook, ILEmerging
First saleJun 2024
Raised$550K
Investors13
Minimum$100K
YTD performanceNot reported
Knightsbridge Ultra Fund, LLC
Northbrook, ILEmerging
First saleAug 2025
Raised$445K
Investors1
Minimum$250K
YTD performanceNot reported
Toulon Capital LLC
Chicago, ILEmerging
First saleMar 2026
Raised$425K
Investors4
Minimum$1K
YTD performanceNot reported
KAI Vol Neutral Alpha Gen Series of 4ALTS Platform, LLC
Chiacago, ILEmerging
First saleAug 2021
Raised$415K
Investors76
Minimum$250K
YTD performanceNot reported
Dren Capital Fund I LP
Darien, ILEmerging
First saleJul 2026
Raised$375K
Investors5
MinimumNone set
YTD performanceNot reported
Systemic Bliss Crypto Index Fund, LP
Lake Forest, ILEmerging
First saleOct 2022
Raised$290K
Investors6
MinimumNone set
YTD performanceNot reported
Vihan - US Feeder Fund Series of 4Alts Platform, LLC
Chicago, ILEmerging
First saleOct 2026
Raised$200K
Investors1
Minimum$100K
YTD performanceNot reported
KingSlayer Capital SP of ARB Digital Platform SPC
Chicago, ILEmerging
First saleMay 2025
Raised$197K
Investors2
Minimum$100K
YTD performanceNot reported
Summr Capital Fund series of 4ALTS Platform, LLC
Chicago, ILEmerging
First saleMay 2025
Raised$154K
Investors5
Minimum$100K
YTD performanceNot reported
QASF Capital LP
Lake Forest, ILEmerging
First saleOct 2024
Raised$150K
Investors5
Minimum$100K
YTD performanceNot reported
GP Select Strategies, L.P.
Chicago, ILEmerging
First saleJan 2026
Raised$100K
Investors1
Minimum$100K
YTD performanceNot reported
Winter Blossom Fund LP
Lemont, ILEmerging
First saleFeb 2025
Raised$71K
Investors2
Minimum$10K
YTD performanceNot reported
Kaushika Capital LLC
Chicago, ILEmerging
First saleJan 2026
Raised$60K
Investors2
Minimum$10K
YTD performanceNot reported
Akiba Capital Partners, LP
Chicago, ILEmerging
First saleApr 2025
Raised$50K
Investors1
Minimum$250K
YTD performanceNot reported
Polen Vision Fund, LLC
Chicago, ILEmerging
First saleDec 2025
Raised$20K
Investors1
MinimumNone set
YTD performanceNot reported
Honeybear Financial LLC
Chicago, ILEmerging
First saleFeb 2022
Raised$0
Investors18
Minimum$100K
YTD performanceNot reported
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