Form D · Hedge Fund

P2 Nexxt Offshore Master Fund LP

San Francisco, CA · CIK 0001825462

Offering snapshot reported Oct 21, 2026 · SEC filing

Reported sold
$47.5M
Indefinite offering
Investors reported
1
Form D · investor count
Minimum accepted
$500K
Reported outside-investor minimum
First sale
Nov 1, 2020
As reported in this filing

Fundraising history

Reported sold
Reported amount sold by Form D filing date$0$47.5M$95MOct 27, 2020Oct 25, 2022: $95,000,000.00Oct 18, 2023: $47,500,000.00Oct 18, 2024: $47,500,000.00Oct 21, 2025: $47,500,000.00Oct 21, 2026: $47,500,000.00Oct 21, 2026

Dates 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

Scroll to see all columns →

FiledFiling typeReported soldChange vs linked filingInvestorsSource
Oct 21, 2026Amendment$47,500,000$0vs Oct 21, 20251SEC filing
Oct 21, 2025Amendment$47,500,000$0vs Oct 18, 20241SEC filing
Oct 18, 2024Amendment$47,500,000$0vs Oct 18, 20231SEC filing
Oct 18, 2023Amendment$47,500,000-$47,500,000vs Oct 25, 20221SEC filing
Oct 25, 2022Amendment$95,000,000No comparison1SEC filing
Oct 28, 2021AmendmentYet to sellNo comparison1SEC filing
Oct 27, 2020InitialYet to sellNo comparison0SEC filing

Offering details

Securities
Pooled investment fund
Exemptions
06b, 3C, 3C.7
Duration over one year
Yes
Business combination
No
Sales commissions
$0
Finders' fees
$0
Form D file number
021-378966

Source: Form D, filed Oct 21, 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

P2 NEXXT OFFSHORE MASTER FUND LP

Investment adviser: KARL KAPITAL LLC

Gross asset value
$91.4M
Beneficial owners
21
ADV minimum commitment
$500K

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 CITCO FUND SERVICES (CAYMAN ISLANDS) LIMITED GRAND CAYMAN KY1-1205, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: Yes
Auditor EISNERAMPER LLP SAN FRANCISCO, California, United States
Auditor EISNERAMPER US (CAYMAN) LTD. GRAND CAYMAN, Cayman Islands
Custodian HSBC BANK NA NEW YORK, New York, United States Related to adviser: No
Custodian MORGAN STANLEY & CO. LLC NEW YORK, New York, United States Related to adviser: No
Prime broker MORGAN STANLEY & CO. LLC NEW YORK, New York, United States
Provider details
Annual audit
Yes
Prime brokers
Yes
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

EISNERAMPER LLP
PCAOB 274

EISNERAMPER US (CAYMAN) LTD.
PCAOB 274

HSBC BANK NA
LEI 1IE8VN30JCEQV1H4R804

MORGAN STANLEY & CO. LLC
SEC 8-15869

MORGAN STANLEY & CO. LLC
CRD 8209 · SEC 8-15869

Filing source

Form ADV 2063988 · Mar 31, 2026 · Schedule D 7.B.(1), fund 805-7411213260

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
NameReported role
Rachael Clarke Executive
Justin James Hughes Executive
N/A Karl General Partner Llc Director, Promoter
N/A Karl Kapital Llc Executive
N/A P2 Nexxt Gp Llc Promoter

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:
260 California Street Suite 803
San Francisco, CA, 94111