Form D · Hedge Fund

iCapital Millennium USA Access Fund II, LP

New York, NY · CIK 0002045009

Offering snapshot reported Dec 15, 2025 · SEC filing

Reported sold: $153M
Investors reported: 274
Minimum accepted: $0
First sale: Dec 6, 2024

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$153,252,000 → $153,482,749
Reported investors272 → 274

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Dec 15, 2025	Amendment	$153,482,749	$230,749vs Dec 13, 2024	274	SEC filing
Dec 13, 2024	Initial	$153,252,000	No comparison	272	SEC filing

Offering details

Securities: Equity, 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: 021-532073

Certain private placement clients of Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network ("WF") are required to pay (i) an up-front placement fee directly to WF and (ii) an ongoing annual fee to the fund (which is then paid to WF).

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
Wells Fargo Clearing Services, LLC	19616	Wells Fargo Advisors Financial Network, LLC · CRD 11025

Source: Form D, filed Dec 15, 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 USA ACCESS FUND II, LP

Investment adviser: ICAPITAL ADVISORS, LLC

Gross asset value: $50.3M
Beneficial owners: 272
ADV minimum commitment: $250K

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 WELLS CAPITAL MANAGEMENT SINGAPORE SINGAPORE, Singapore 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

WELLS CAPITAL MANAGEMENT SINGAPORE
CRD 165024 · SEC 801-76987

Filing source

Form ADV 2135827 · Sep 30, 2026 · Schedule D 7.B.(1), fund 805-4014526742

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

Related funds

Funds whose names form a numbered series with this one and that share its city or the name of a related person. Form D does not state how these funds are related.

Fund	Latest Form D	Reported sold	Investors
iCapital Millennium USA Access Fund LP	Aug 18, 2021	Yet to sell	Not reported
iCapital Millennium USA Access Fund II, LP (this fund)	Dec 15, 2025	$153,482,749	274

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
I Capital Hf Gp, Llc	Promoter
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