Form D · Hedge Fund

First Light Focus Fund, LP

Edina, MN · CIK 0001653545

Offering snapshot reported Dec 19, 2025 · SEC filing

Reported sold: $368M
Investors reported: 118
Minimum accepted: $0
First sale: Nov 2, 2015

Fundraising history

Reported sold

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$360,269,042 → $367,718,918
Reported investors115 → 118

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Dec 19, 2025	Amendment	$367,718,918	$7,449,876vs Dec 23, 2024	118	SEC filing
Dec 23, 2024	Amendment	$360,269,042	$145,356vs Oct 10, 2024	115	SEC filing
Oct 10, 2024	Amendment	$360,123,686	$93,862,776vs Oct 12, 2023	115	SEC filing
Oct 12, 2023	Amendment	$266,260,910	$6,800,000vs Aug 2, 2023	88	SEC filing
Aug 2, 2023	Amendment	$259,460,910	$7,450,000vs Aug 3, 2022	84	SEC filing
Aug 3, 2022	Amendment	$252,010,910	$12,953,999vs Aug 5, 2021	81	SEC filing
Aug 5, 2021	Amendment	$239,056,911	No comparison	Not reported	SEC filing
Aug 5, 2020	Amendment	$182,506,910	$15,526,706vs Aug 6, 2019	69	SEC filing
Aug 6, 2019	Amendment	$166,980,204	$6,388,204vs Aug 6, 2018	69	SEC filing
Aug 6, 2018	Amendment	$160,592,000	$102,208,377vs Nov 17, 2017	68	SEC filing
Nov 17, 2017	Amendment	$58,383,623	$38,350,391vs Nov 10, 2016	36	SEC filing
Nov 10, 2016	Amendment	$20,033,232	$15,298,852vs Nov 12, 2015	24	SEC filing
Nov 12, 2015	Amendment	$4,734,380	No comparison	4	SEC filing
Oct 1, 2015	Initial	Yet to sell	No comparison	0	SEC filing

Offering details

Securities: Equity, Pooled investment fund
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $358K (estimated)
Finders' fees: $0
Form D file number: 021-248594

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
John Kennedy Dierkes	1629115	Pickwick Capital Partners, Inc. · CRD 130672
Brian Beh	15000962	Butler Capital Partners · CRD 114242

Source: Form D, filed Dec 19, 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

FIRST LIGHT FOCUS FUND, LP

Investment adviser: FIRST LIGHT ASSET MANAGEMENT, LLC

Gross asset value: $659M
Beneficial owners: 94
ADV minimum commitment: $1M

Reported in Form ADV on Mar 24, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator NAV CONSULTING, INC. OAKBROOK TERRACE, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor RSM US, LLP CHICAGO, Illinois, United States

Custodian CIBC BANK USA CHICAGO, Illinois, United States Related to adviser: No

Custodian JEFFERIES LLC NEW YORK, New York, United States Related to adviser: No

Custodian TD SECURITIES (USA) LLC NEW YORK, New York, United States Related to adviser: No

Marketer BUTLER CAPITAL PARTNERS OYSTER BAY, New York, United States Related to adviser: No

Marketer PICKWICK CAPITAL PARTNERS, LLC WHITE PLAINS, New York, United States Related to adviser: No

Prime broker JEFFERIES LLC NEW YORK, New York, United States

Prime broker TD SECURITIES (USA) LLC NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

RSM US, LLP
PCAOB 49

CIBC BANK USA
LEI FDXQ75GPEQKRPWABYN63

JEFFERIES LLC
SEC 8-15074

TD SECURITIES (USA) LLC
SEC 8-36747

BUTLER CAPITAL PARTNERS
CRD 114242 · SEC 8-53413

PICKWICK CAPITAL PARTNERS, LLC
CRD 130672 · SEC 8-66373

JEFFERIES LLC
CRD 2347 · SEC 8-15074

TD SECURITIES (USA) LLC
CRD 18476 · SEC 8-36747

Filing source

Form ADV 2063727 · Mar 24, 2026 · Schedule D 7.B.(1), fund 805-6914433678

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
Name	Reported role
Mathew P. Arens	Executive
Brian C. Beh	Promoter
N/A First Light Asset Management Llc	Executive, Promoter
N/A First Light Focus Fund Gp Llc	Promoter
Timothy Gullickson	Promoter
Brett T. Johnson	Executive
Jin Lien	Executive
Scott Ree	Promoter

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

3300 Edinborough Way, Suite 201
Edina, MN, 55435