Form D · Hedge Fund

iCapital - Millennium Drawdown Fund, Ltd.

New York, NY · CIK 0001891916

Offering snapshot reported Dec 9, 2025 · SEC filing

Reported sold
$67.3M
Indefinite offering
Investors reported
212
Form D · investor count
Minimum accepted
$0
Reported outside-investor minimum
First sale
Oct 1, 2021
As reported in this filing

Fundraising history

Reported sold
Reported amount sold by Form D filing date$0$33.6M$67.3MNov 10, 2021: $31,631,000.00Nov 10, 2021Dec 1, 2022: $66,593,000.00Dec 1, 2022Dec 7, 2023: $66,593,000.00Dec 7, 2023Dec 11, 2024: $67,269,138.00Dec 11, 2024Dec 9, 2025: $67,269,138.00Dec 9, 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.

No comparable changes in the displayed metrics.

Filing history

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FiledFiling typeReported soldChange vs linked filingInvestorsSource
Dec 9, 2025Amendment$67,269,138$0vs Dec 11, 2024212SEC filing
Dec 11, 2024Amendment$67,269,138$676,138vs Dec 7, 2023212SEC filing
Dec 7, 2023Amendment$66,593,000$0vs Dec 1, 2022208SEC filing
Dec 1, 2022Amendment$66,593,000$34,962,000vs Nov 10, 2021208SEC filing
Nov 10, 2021Initial$31,631,000No comparison132SEC filing

Offering details

Securities
Pooled investment fund
Exemptions
06b, 3C, 3C.7
Duration over one year
Yes
Business combination
No
Sales commissions
$0
Finders' fees
$0
Form D file number
021-420728
Private placement clients of Rockefeller Financial LLC (RF) who choose to be Brokerage LPs are required to pay (i) an upfront fee directly to RF and (ii) an ongoing monthly fee out of the balance of their capital account (which fees are then paid to RF).

Sales compensation recipients

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RecipientCRDAssociated broker-dealer
ROCKEFELLER FINANCIAL LLC291361

Source: Form D, filed Dec 9, 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

ICAPITAL - MILLENNIUM DRAWDOWN FUND, LTD.

Investment adviser: ICAPITAL ADVISORS, LLC

Gross asset value
$61.3M
Beneficial owners
199
ADV minimum commitment
$100K

Reported in Form ADV on Sep 30, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator BANK OF NEW YORK MELLON NEW YORK, New York, United States Investor statements: No (provided to no investors) Related to adviser: No
Auditor KPMG LLP NEW YORK, New York, United States
Custodian BANK OF NEW YORK MELLON NEW YORK, New York, United States Related to adviser: No
Marketer ICAPITAL MARKETS LLC NEW YORK, New York, United States Related to adviser: Yes
Marketer KRILOGY ST. LOUIS, Missouri, United States Related to adviser: No
Marketer ROCKEFELLER & CO., INC. NEW YORK, New York, United States Related to adviser: No
Marketer SPEARHEAD ADMINISTRATIVE SERVICES, LLC GREENVILLE, Delaware, United States Related to adviser: No
Marketer SPEARHEAD ADVISORS, LLC NEWPORT BEACH, California, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes

KPMG LLP
PCAOB 185

ICAPITAL MARKETS LLC
CRD 118219 · SEC 8-53640

KRILOGY
CRD 149046 · SEC 801-69838

ROCKEFELLER & CO., INC.
CRD 106264 · SEC 801-15106

SPEARHEAD ADMINISTRATIVE SERVICES, LLC
CRD 319289 · SEC 801-123610

SPEARHEAD ADVISORS, LLC
CRD 316684

Filing source

Form ADV 2135827 · Sep 30, 2026 · Schedule D 7.B.(1), fund 805-5067079482

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
N/A Icapital Advisors, Llc Promoter
N/A Icapital Hf Gp, Llc Promoter
Max Schwartz Executive
Michael Stanton Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:
C/O Compliance Department 60 East 42 Nd Street, 28 Th Floor
New York, NY, 10165