Form D · Private Equity Fund
VRM Penzini Fund I L.L.C.
San Juan, PR · CIK 0001945918
Offering snapshot reported Nov 25, 2025 · SEC filing
- Reported sold
- $6.1M Indefinite offering
- Investors reported
- 1 Form D · investor count
- Minimum accepted
- $10K Reported outside-investor minimum
- First sale
- Nov 6, 2025 As reported in this filing
Fundraising history
Reported soldDates 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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| Filed | Filing type | Reported sold | Change vs linked filing | Investors | Source |
|---|---|---|---|---|---|
| Nov 25, 2025 | Amendment | $6,100,000 | $0vs Nov 18, 2025 | 1 | SEC filing |
| Nov 25, 2025 | Amendment | $6,100,000 | $0vs Nov 18, 2025 | 1 | SEC filing |
| Nov 18, 2025 | Initial | $6,100,000 | No comparison | 1 | SEC filing |
| Nov 18, 2025 | Initial | $6,100,000 | No comparison | 1 | SEC filing |
| Sep 10, 2025 | Initial | $1,528,000 | No comparison | Not reported | SEC filing |
| Jan 11, 2024 | Amendment | $2,860,000 | -$390,000vs Nov 8, 2023 | 1 | SEC filing |
| Dec 20, 2023 | Initial | $725,562 | No comparison | 12 | SEC filing |
| Nov 8, 2023 | Initial | $191,708 | No comparison | 7 | SEC filing |
| Nov 8, 2023 | Initial | $3,250,000 | No comparison | 1 | SEC filing |
| Nov 7, 2023 | Initial | $5,598,199 | No comparison | 10 | SEC filing |
| Sep 8, 2022 | Initial | $1,800,000 | No comparison | 14 | SEC filing |
Offering details
- Securities
- Pooled investment fund
- Exemptions
- 06b, 3C, 3C.1
- Duration over one year
- No
- Business combination
- Yes
- Sales commissions
- $0
- Finders' fees
- $0
- Form D file number
- 021-564266
The offering is for the fund's Ashford VRM Series.
Source: Form D, filed Nov 25, 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
VRM PENZINI FUND I. L.L.C.
Investment adviser: VRM PENZINI CAPITAL L.L.C.
- Gross asset value
- $140M
- Beneficial owners
- 21
- ADV minimum commitment
- $40K
Reported in Form ADV on Dec 11, 2025. 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
- No
- Administrator other than the adviser
- No
- External marketing
- No
Filing source
Form ADV 2033521 · Dec 11, 2025 · Schedule D 7.B.(1), fund 805-5878387409
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.
| Name | Reported role |
|---|---|
| Carlos Penzini | Executive |
| Diego Rene Rodriguez | Executive |
| Rafael Rojo | Executive |
Issuer details
Industry: Pooled Investment Fund (See others in industry)
Address:San Juan, PR, 00920