Exploration Capital Fund, LP
Exploration Capital Fund, LP is a hedge fund based in Salt Lake City, Utah. According to its most recent Form D, filed Aug 26, 2025, the fund has sold $19,467,377 of interests to 43 investors since its first sale in Jan 2020. The filing does not set a minimum investment. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(b), which does not permit general solicitation. Related persons named in the filing include Stephen Gustin; Exploration Capital, LLC; Exploration Capital General Partner, LLC.
Performance
No verified returns have been reported for this fund. Hedge fund returns are not part of SEC filings; managers report them to HedgeMountain directly.
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- Total raised
- $19,467,377Cumulative sales reported on Form D
- Investors
- 43
- First sale
- Jan 17, 2020
- Minimum investment
- None set
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Stephen Gustin; Exploration Capital, LLC; Exploration Capital General Partner, LLC
- Latest Form D
- Aug 26, 2025
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and HedgeMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures
Size compared with every hedge fund
Raised more than 60% of the 52 hedge funds based in Utah, and more than 29% of all 10,157 that report sales.