Tephra Digital Fund Ltd. is a hedge fund based in New York, New York. According to its most recent Form D, filed May 13, 2026, the fund has sold $4,440,528 of interests to 12 investors since its first sale in Jun 2022. The minimum investment it accepts from an outside investor is $250,000. It relies on the Section 3(c)(7) exclusion, so investors generally must be qualified purchasers. The offering uses Rule 506(b), which does not permit general solicitation. Based on its first sale date and the amount raised, HedgeMountain classifies it as an emerging manager. Related persons named in the filing include Tephra Digital LLC; Ryan Price; Raghav Chopra.
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
- $4,440,528Cumulative sales reported on Form D
- Investors
- 12
- First sale
- Jun 1, 2022
- Minimum investment
- $250,000
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Tephra Digital LLC; Ryan Price; Raghav Chopra
- Latest Form D
- May 13, 2026
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 18% of the 2,479 hedge funds based in New York, and more than 13% of all 10,157 that report sales.