Form D · Private Equity Fund
PA Capital Direct LLC
Richmond, VA · CIK 0001780749
Offering snapshot reported Jun 24, 2021 · SEC filing
- Reported sold
- $23.7M Indefinite offering
- Investors reported
- Not reported Form D · investor count
- Minimum accepted
- Not reported Reported outside-investor minimum
- First sale
- Not reported As reported in this filing
What changed?
Latest filing versus its linked predecessor, where available.
No comparable changes in the displayed metrics.
Filing history
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| Filed | Filing type | Reported sold | Change vs linked filing | Investors | Source |
|---|---|---|---|---|---|
| Jun 24, 2021 | Amendment | $23,650,000 | No comparison | Not reported | SEC filing |
| Jun 24, 2020 | Amendment | $17,440,000 | No comparison | 4 | SEC filing |
| Jul 2, 2019 | Amendment | Yet to sell | No comparison | 0 | SEC filing |
| Jun 26, 2019 | Initial | Yet to sell | No comparison | 0 | SEC filing |
Offering details
- Securities
- Not reported
- Exemptions
- Not reported
- Duration over one year
- Not reported
- Business combination
- Not reported
- Sales commissions
- Not reported
- Finders' fees
- Not reported
- Form D file number
- 021-342894
Source: Form D, filed Jun 24, 2021. Minimum accepted may differ from a standard advertised minimum.
Fund connections
Each card uses that adviser's latest imported filing. Filing dates can differ; these disclosures do not confirm a current relationship.
Matched by reported Form D file number
PA CAPITAL DIRECT, LLC
Investment adviser: APOGEM CAPITAL LLC
- Gross asset value
- $57.1M
- Beneficial owners
- 4
- ADV minimum commitment
- $1M
Reported in Form ADV on Jul 31, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.
Service providers
Provider details
- Annual audit
- Yes
- Prime brokers
- No
- Custodians
- Yes
- Administrator other than the adviser
- No
- External marketing
- No
PRICEWATERHOUSECOOPERS LLP
PCAOB 238
PNC BANK, N.A.
LEI AD6GFRVSDT01YPT1CS68
Fund asset history · 5 annual observations
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| Fiscal year | Gross assets | Beneficial owners | ADV filed |
|---|---|---|---|
| 2021 | $48,796,110 | 4 | Mar 31, 2022 |
| 2022 | $52,667,449 | 4 | Mar 31, 2023 |
| 2023 | $75,238,553 | 4 | Mar 28, 2024 |
| 2024 | $90,488,486 | 4 | Mar 30, 2025 |
| 2025 | $57,055,939 | 4 | Mar 30, 2026 |
Filing source
Form ADV 2123386 · Jul 31, 2026 · Schedule D 7.B.(1), fund 805-5616847563
Reported by APOGEM CAPITAL LLC (CRD 309234).
Other-Than Anual Amendment For Registered Adviser.
Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.
Matched by reported Form D file number
PA CAPITAL DIRECT, LLC-SERIES II
Investment adviser: APOGEM CAPITAL LLC
- Gross asset value
- $0
- Beneficial owners
- 17
- ADV minimum commitment
- $1M
Reported in Form ADV on Jul 31, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.
Service providers
Provider details
- Annual audit
- Yes
- Prime brokers
- No
- Custodians
- Yes
- Administrator other than the adviser
- No
- External marketing
- No
PRICEWATERHOUSECOOPERS LLP
PCAOB 238
PNC BANK, N.A.
LEI AD6GFRVSDT01YPT1CS68
Fund asset history · 5 annual observations
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| Fiscal year | Gross assets | Beneficial owners | ADV filed |
|---|---|---|---|
| 2021 | $8,967,474 | 17 | Mar 31, 2022 |
| 2022 | $8,585,119 | 16 | Mar 31, 2023 |
| 2023 | $5,211,023 | 17 | Mar 28, 2024 |
| 2024 | $1,757 | 17 | Mar 30, 2025 |
| 2025 | $0 | 17 | Mar 30, 2026 |
Filing source
Form ADV 2123386 · Jul 31, 2026 · Schedule D 7.B.(1), fund 805-6479823696
Reported by APOGEM CAPITAL LLC (CRD 309234).
Other-Than Anual Amendment For Registered Adviser.
Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.
Matched by reported Form D file number
PA CAPITAL DIRECT, LLC- SERIES III
Investment adviser: APOGEM CAPITAL LLC
- Gross asset value
- $5.22M
- Beneficial owners
- 3
- ADV minimum commitment
- $1M
Reported in Form ADV on Jul 31, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.
Service providers
Provider details
- Annual audit
- Yes
- Prime brokers
- No
- Custodians
- Yes
- Administrator other than the adviser
- No
- External marketing
- No
PRICEWATERHOUSECOOPERS
PCAOB 238
PNC BANK, N.A.
LEI AD6GFRVSDT01YPT1CS68
Fund asset history · 3 annual observations
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| Fiscal year | Gross assets | Beneficial owners | ADV filed |
|---|---|---|---|
| 2023 | $2,924,950 | 3 | Mar 28, 2024 |
| 2024 | $4,135,995 | 3 | Mar 30, 2025 |
| 2025 | $5,219,434 | 3 | Mar 30, 2026 |
Filing source
Form ADV 2123386 · Jul 31, 2026 · Schedule D 7.B.(1), fund 805-4928380411
Reported by APOGEM CAPITAL LLC (CRD 309234).
Other-Than Anual Amendment For Registered Adviser.
Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; 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.
| Name | Reported role |
|---|---|
| Gregory Ciavarelli | Promoter |
| Gregory Ciaverelli | Promoter |
| Louis Moelchert, Iii | Promoter |
| Louis Moelchert, Jr. | Promoter |
| N/A Pacd Mm, Llc | Director |
| Christopher Stringer | Promoter |
Issuer details
Industry: Pooled Investment Fund (See others in industry)
Address:Richmond, VA, 23219
Phone: 804-289-6000