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Primary Source · SEC.gov

Ellipsis A1 a Series of What If Ventures Master LLC

Fund Vehicle2025 vintageRule 506(b), Section 3(c), Section 3(c)(1)Filing record

Built from the SEC filing index the day the filing landed. The figures below are the issuer's own from Form D; AltStreet's analysis, sponsor link and data flags follow when the entity is enriched.

Latest signalNew Form D filerForm D · 2025-02-12Last filing 2025-02-12

Raised

$180K

Investors

10

Min Invest

None stated

What this filing shows

·

Every sentence is a value as filed on SEC Form D

Ellipsis A1 a Series of What If Ventures Master LLC is a Delaware limited liability company that filed a Form D with the SEC on February 12, 2025, describing itself as a venture capital fund. The offering claims Rule 506(b), Section 3(c), Section 3(c)(1) and covers pooled investment fund interests. Ellipsis A1 a Series of What If Ventures Master LLC reported $180,400 sold from 10 investors of a $180,400 total offering as of the Form D filed February 12, 2025. The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. Because the fund also relies on Section 3(c)(1), it may have no more than 100 beneficial owners. The filing reports no non-accredited investors. The filing lists the minimum investment as $0, meaning no minimum was stated. The Form D names no recipient of sales compensation, which usually means the issuer or its affiliates are placing the securities directly. Sales commissions are reported as $0 and finders' fees as $0. Form D allows these to be estimates. The issuer's address of record is 2093 Philadelphia Pike, 5885, Claymont, DE 19703.

EDGAR Filing Data

Form D — Primary Source

View on SEC.gov
CIK Number0002055758
Entity NameEllipsis A1 a Series of What If Ventures Master LLC
ExemptionRule 506(b), Section 3(c), Section 3(c)(1)
What the exemption meansRule 506(b) of Regulation D: securities may be sold to an unlimited number of accredited investors and up to 35 non-accredited investors who meet the rule's sophistication standard, without general solicitation or advertising. Section 3(c) of the Investment Company Act of 1940: the issuer is a pooled investment vehicle relying on an exclusion from registration as an investment company. Section 3(c)(1) of the Investment Company Act: the fund is excluded from investment-company registration because it has no more than 100 beneficial owners.
Entity TypeLimited Liability Company
Jurisdiction of OrganizationDelaware
Issuer Address2093 Philadelphia Pike, 5885, Claymont, DE 19703
Phone(360) 946-0604
Industry / Fund TypePooled Investment Fund · Venture Capital Fund
Investment Company ActExcluded under Section 3(c)(1) (100 beneficial owners or fewer)
Securities TypePooled investment fund interests
First Sale DateFebruary 3, 2025
Filing DateFebruary 12, 2025
Accession Number0002055758-25-000001
Total Offering Amount$180,400
Total Amount Sold$180,400
Amount Remaining$0
Total Investors10
Non-Accredited InvestorsNone
Minimum Investment$0 (no stated minimum)
Offering DurationOne year or less
Sales Commissions$0
Finders' Fees$0
Revenue RangeDecline to Disclose
State (Issuer Address)DE
Amendment CountOriginal filing only

Filings on Record

Every filing AltStreet's ledger holds for this CIK, newest first. Each opens the SEC archive folder.

DFebruary 12, 2025

Fund Family

Every vehicle in this manager's series as it appears on EDGAR, newest generation first. Sold-to-date and investor counts are each vehicle's latest Form D.

Fund family

What If Ventures117 vehicles · 7 generations · since 2020 · $111.1M sold across the family

This issuer is in Fund I

VehicleRoleFirst filedStatusSoldInvestors
Fund XXVI · first filed 2026-07-24 · 1 vehicle · $2.1M sold · 33 investors
AAC26 a Series of What If Ventures Master LLCmaster2026-07-24closed$2.1M33
Fund XXV · first filed 2025-07-25 · 3 vehicles · $2.0M sold · 40 investors
Paradromics 25 a Series of What If Ventures Master LLCmaster2025-12-03closed$782K19
Gallatin 25 a Series of What If Ventures Master LLCmaster2025-07-25closed$706K13
Samara Seed 25 a Series of What If Ventures Master LLCmaster2025-11-24closed$499K8
Fund XXIV · first filed 2024-05-15 · 6 vehicles · $4.8M sold · 132 investors
Kindbody 24E a Series of What If Ventures Master LLCmaster2024-09-19closed$3.0M62
Terray Thx 24 a Series of What If Ventures Master LLCmaster2024-09-04closed$795K24
Alto Pharmacy 24 a Series of What If Ventures Master LLCmaster2024-11-12closed$592K20
Levels Health 24 a Series of What If Ventures Master LLCmaster2024-05-15closed$265K11
MedTruly 24 a Series of What If Ventures Master LLCmaster2024-10-22closed$73K8
MightierAI 24 a Series of What If Ventures Master LLCmaster2025-01-08closed$60K7
Fund XXIII · first filed 2023-10-06 · 2 vehicles · $616K sold · 29 investors
Patient Sortal 23, a Series of What If Ventures Master, LLCmaster2023-10-06closed$433K17
Ellipsis Health 23 a Series of What If Ventures Master LLCmaster2023-10-17closed$183K12
Fund XXI · first filed 2021-07-23 · 6 vehicles · $7.0M sold · 272 investors
What If VC Blackrock 21 a Series of What If Ventures Master LLCmaster2021-11-08closed$2.6M92
What If Rejuveron 21 a Series of What If Ventures Master LLCmaster2022-03-21closed$1.7M61
What If AptiHealth 21 a Series of What If Ventures Master LLCmaster2021-10-26closed$1.2M35
WHAT IF VENTURES FORESIGHT 21 A SERIES OF WHAT IF VENTURES MASTER LLCmaster2021-07-29closed$569K17
What If Ksana 21 a Series of What If Ventures Master LLCmaster2021-10-12closed$533K34
WHAT IF PARADROMICS 21 A SERIES OF WHAT IF VENTURES MASTER LLCmaster2021-07-23closed$347K33
Fund II · first filed 2021-11-08 · 7 vehicles · $4.4M sold · 69 investors
Firehawk C2 a Series of What If Ventures Master LLCmaster2025-09-23closed$1.6M12
Hermeus C2 a Series of What If Ventures Master LLCmaster2026-03-04closed$1.3M19
AAC2 a Series of What If Ventures Master LLCmaster2026-10-09closed$1.0M11
What If Ventures Mightier 2 2021, a Series of What If Ventures Master LLCmaster2021-11-08closed$180K13
2A Biosciences a Series of What If Ventures Master LLCmaster2023-05-08closed$155K6
ArtistCap Cameo II a Series of What If Ventures Master LLCmaster2024-04-23closed$103K4
Galileo E2 a Series of What If Ventures Master LLCmaster2025-07-14closed$33K4
Fund I · first filed 2021-04-15 · 3 vehicles · $1.0M sold · 64 investors
Ellipsis A1 a Series of What If Ventures Master LLCthis issuermaster2025-02-12closed$180K10
What If Ventures TRIPP A-1, a series of What If Ventures, LLC2021-04-15closed$708K46
Bionaut B1 a Series of What If Ventures Master LLCmaster2023-12-12closed$115K8
Unnumbered · first filed 2020-10-19 · 3 vehicles · $89.3M sold · 2,000 investors
ACS B a Series of What If Ventures Master LLCmaster2026-05-19closed$8.3M48
FHA D 2026 a Series of What If Ventures Master LLCmaster2026-09-11closed$6.9M41
Umbra Artist Capital 2024 a Series of What If Ventures Master LLCmaster2024-09-10closed$5.7M46
86 more vehicles in this family are not listed here; the full series is in the terminal.

Grouped from Form D issuer names (generation, sleeve, jurisdiction and legal-form tokens removed); a name-only match, so abbreviated or renamed vehicles can be missed. Sold and investor figures are each vehicle's latest Form D; sleeves that report the same figure share one family-wide total and are counted once. Performance lines are what a public pension plan reports for its own interest in that fund, net, on the plan's cash flows and valuation date; they are not the general partner's figures.

In the Terminal

Filing events

1

latest Feb 12, 2025

Critical / warning

0 / 0

0 watch · 1 info

Statements extracted

0

none on file

NAV prints

0

none on file

Offering chains

1

closed

Latest event New filer · Feb 12, 2025

SEC.gov
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Investor

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  • 1 offering timeline: velocity, share raised, first-sale lag, stalled flags

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Related Persons (Form D)

Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.

Sydecar LLC

Director · Claymont, DE

Administrator of the Issuer

Brett Sagan

Executive Officer · Claymont, DE

Officer of the Issuer's Administrator

Questions About Ellipsis A1 a Series of What If Ventures Master LLC

Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.

What is Ellipsis A1 a Series of What If Ventures Master LLC?

Ellipsis A1 a Series of What If Ventures Master LLC is a Delaware limited liability company that filed a Form D with the SEC on February 12, 2025 as a venture capital fund. The filing claims Rule 506(b), Section 3(c), Section 3(c)(1) for an offering of pooled investment fund interests.

Is Ellipsis A1 a Series of What If Ventures Master LLC legit?

AltStreet does not rate legitimacy; it reports the public record. Ellipsis A1 a Series of What If Ventures Master LLC filed a Form D with the SEC on February 12, 2025 claiming Rule 506(b), Section 3(c), Section 3(c)(1). A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $180,400 sold to 10 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.

Is Ellipsis A1 a Series of What If Ventures Master LLC registered with or approved by the SEC?

No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that Ellipsis A1 a Series of What If Ventures Master LLC claimed Rule 506(b), Section 3(c), Section 3(c)(1) and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.

How much has Ellipsis A1 a Series of What If Ventures Master LLC raised?

Ellipsis A1 a Series of What If Ventures Master LLC reported $180,400 sold from 10 investors of a $180,400 total offering as of the Form D filed February 12, 2025.

Who can invest in Ellipsis A1 a Series of What If Ventures Master LLC?

The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. Because the fund also relies on Section 3(c)(1), it may have no more than 100 beneficial owners. The filing reports no non-accredited investors. The filing lists the minimum investment as $0, meaning no minimum was stated.

What is the minimum investment in Ellipsis A1 a Series of What If Ventures Master LLC?

The Form D lists the minimum investment as $0, which means the issuer did not state a minimum on the form. The offering documents, not the Form D, set the actual subscription terms.

Who is selling Ellipsis A1 a Series of What If Ventures Master LLC and how are they paid?

The Form D names no recipient of sales compensation, which usually means the issuer or its affiliates are placing the securities directly. Sales commissions are reported as $0 and finders' fees as $0. Form D allows these to be estimates.

Who is behind Ellipsis A1 a Series of What If Ventures Master LLC?

The Form D lists 2 related persons: Sydecar LLC, director (Administrator of the Issuer); Brett Sagan, executive officer (Officer of the Issuer's Administrator). Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.

Where is Ellipsis A1 a Series of What If Ventures Master LLC located?

The issuer's address on its SEC filings is 2093 Philadelphia Pike, 5885, Claymont, DE 19703. Its phone number of record is (360) 946-0604. It is organized under the laws of Delaware.

How long is the Ellipsis A1 a Series of What If Ventures Master LLC offering open?

The issuer indicated that the offering is not intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open, and no amendment is on record yet.

How large is Ellipsis A1 a Series of What If Ventures Master LLC?

The issuer declined to disclose its revenue range on the Form D, which the form permits.

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Data Methodology

Capital raise figures, investor counts, and filing dates are sourced directly from SEC EDGAR Form D primary documents via the SEC EDGAR submissions API and full-text search index. EDGAR entity profiles and deal-level data are reviewed by AltStreet analysts with backgrounds in corporate finance and securities law — cross-referenced against offering circulars, audited financial statements, and primary regulatory filings before publication. Platform-provided information, where present, is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. Platforms may request factual corrections for demonstrable inaccuracies by contacting [email protected]. This page does not constitute investment advice.