Form D · Venture Capital Fund

TCP Exploration Fund 2025, LP

Santa Monica, CA · CIK 0002047650

Offering snapshot reported Jan 13, 2026 · SEC filing

Reported sold: $290M
Investors reported: 61
Minimum accepted: $0
First sale: Jan 6, 2025

What changed?

Latest filing versus its linked predecessor, where available.

Reported investors0 → 61

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Jan 13, 2026	Amendment	$289,710,801	No comparison	61	SEC filing
Jan 6, 2025	Initial	Yet to sell	No comparison	0	SEC filing

Offering details

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

Sales commissions: $0 (estimated)
Finders' fees: $0 (estimated)
Form D file number: 021-534358

Paid based on either a percentage of committed capital of investors introduced by selling agent or a fixed amount. Such amounts do not reduce the offering proceeds available for investment.

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
Hollister Associates LLC	173366
Rainmaker Securities LLC	132995
Aldwych Securities LLC	167980
FNEX Capital, LLC	166316

Source: Form D, filed Jan 13, 2026. 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

TCP EXPLORATION FUND 2025, LP

Investment adviser: QUID CAPITAL GROUP HOLDINGS, LLC

Gross asset value: $532M
Beneficial owners: 35
ADV minimum commitment: $50K

Reported in Form ADV on Mar 31, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator SOCIUM, LLC D/B/A SUNTERA FUND SERVICES SHORT HILLS, New Jersey, United States Investor statements: No (provided to no investors) Related to adviser: No

Custodian EQUITY TRUST COMPANY FORT MYERS, Florida, United States Related to adviser: No

Marketer ALDWYCH SECURITIES LLC STAMFORD, Connecticut, United States Related to adviser: No

Marketer FNEX CAPITAL, LLC NEW YORK, New York, United States Related to adviser: No

Marketer HOLLISTER ASSOCIATES, LLC MOUNT PLEASANT, South Carolina, United States Related to adviser: No

Marketer RAINMAKER SECURITIES, LLC CORAL GABLES, Florida, United States Related to adviser: No

Provider details

Annual audit: No
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

ALDWYCH SECURITIES LLC
CRD 167980 · SEC 8-69286

FNEX CAPITAL, LLC
CRD 166316 · SEC 8-69199

HOLLISTER ASSOCIATES, LLC
CRD 173366 · SEC 8-69538

RAINMAKER SECURITIES, LLC
CRD 132995 · SEC 8-66667

Filing source

Form ADV 2043432 · Mar 31, 2026 · Schedule D 7.B.(1), fund 805-3717281498

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
Josh Berman	Executive
N/A N/A Troy Capital Partners X Gp, Llc	Executive
Anthony Tucker	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

100 Wilshire Blvd., Suite 1830
Santa Monica, CA, 90401