Form D · Hedge Fund

Black Bear Value Fund, LP

Boca Raton, FL · CIK 0001692066

Offering snapshot reported Dec 30, 2025 · SEC filing

Reported sold
$30.2M
Indefinite offering
Investors reported
40
Form D · investor count
Minimum accepted
$250K
Reported outside-investor minimum
First sale
Jan 1, 2017
As reported in this filing

Fundraising history

Reported sold
Reported amount sold by Form D filing date$0$15.1M$30.2MDec 22, 2016Dec 22, 2017: $4,800,000.00Dec 26, 2018: $7,150,000.00Dec 26, 2019: $11,000,000.00Dec 28, 2020: $14,515,000.00Dec 28, 2021: $17,665,000.00Dec 28, 2022: $20,165,000.00Dec 28, 2023: $24,115,000.00Dec 30, 2024: $28,690,000.00Dec 30, 2025: $30,190,000.00Dec 30, 2025

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

  • Reported sold$28,690,000 → $30,190,000
  • Reported investors39 → 40

Filing history

Scroll to see all columns →

FiledFiling typeReported soldChange vs linked filingInvestorsSource
Dec 30, 2025Amendment$30,190,000$1,500,000vs Dec 30, 202440SEC filing
Dec 30, 2024Amendment$28,690,000$4,575,000vs Dec 28, 202339SEC filing
Dec 28, 2023Amendment$24,115,000$3,950,000vs Dec 28, 202235SEC filing
Dec 28, 2022Amendment$20,165,000$2,500,000vs Dec 28, 202130SEC filing
Dec 28, 2021Amendment$17,665,000$3,150,000vs Dec 28, 202023SEC filing
Dec 28, 2020Amendment$14,515,000$3,515,000vs Dec 26, 201920SEC filing
Dec 26, 2019Amendment$11,000,000$3,850,000vs Dec 26, 201815SEC filing
Dec 26, 2018Amendment$7,150,000$2,350,000vs Dec 22, 20179SEC filing
Dec 22, 2017Amendment$4,800,000No comparison3SEC filing
Dec 22, 2016InitialYet to sellNo comparison0SEC filing

Offering details

Securities
Equity, Pooled investment fund
Exemptions
06b, 3C, 3C.1
Duration over one year
Yes
Business combination
No
Sales commissions
$0
Finders' fees
$0
Form D file number
021-276853

Source: Form D, filed Dec 30, 2025. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

BLACK BEAR VALUE FUND LP

Investment adviser: BLACK BEAR VALUE PARTNERS, LP

Gross asset value
$46.2M
Beneficial owners
34
ADV minimum commitment
$250K

Reported in Form ADV on Mar 26, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator OPUS FUND SERVICES (BERMUDA) LTD. HAMILTON, Bermuda Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor COHNREZNICK LLP NEW YORK, New York, United States
Auditor EISNERAMPER LLP MIAMI, Florida, United States
Custodian BTIG, LLC SAN FRANCISCO, California, United States Related to adviser: Yes
Custodian GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States Related to adviser: No
Custodian PERSHING LLC JERSEY CITY, New Jersey, United States Related to adviser: No
Prime broker BTIG, LLC SAN FRANCISCO, California, United States
Provider details
Annual audit
Yes
Prime brokers
Yes
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

COHNREZNICK LLP
PCAOB 596

EISNERAMPER LLP
PCAOB 274

BTIG, LLC
SEC 8-65473

GOLDMAN SACHS & CO. LLC
SEC 8-129

PERSHING LLC
SEC 8-17574

BTIG, LLC
CRD 122225 · SEC 8-65473

Filing source

Form ADV 2081653 · Mar 26, 2026 · Schedule D 7.B.(1), fund 805-4438633264

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
NameReported role
Adam Schwartz Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:
6919 Sw 18 Th Street Suite 200
Boca Raton, FL, 33433