Terrain Opportunity funds
Terrain Opportunity has 5 vehicles on the SEC Form D record, in 5 numbered generations, filed from 2025 to 2026. The newest is Terrain Opportunity V, LP, first filed Jul 7, 2026. The adviser of record on Form ADV Schedule D is Terrain Capital Management, LLC.
- Vehicles
- 5
- Numbered generations
- 5
- First filing
- 2025
- Latest filing
- Jul 20, 2026
Adviser of record (Form ADV Schedule D) Terrain Capital Management, LLC (CRD 333460)
Names, dates and status as filed on SEC EDGAR. A Form D is a notice of an exempt offering; the SEC does not review or approve it. Grouped by name; see the last question below.
Fund V
1 vehicle · first filed
| Vehicle | Sleeve | First filed | Latest filing | Filing record | SEC |
|---|---|---|---|---|---|
| Terrain Opportunity V, LPCIK 2142194 | First sale yet to occur | EDGAR |
Sold to date and investors
Unlock in the terminal (Investor)Fund IV
1 vehicle · first filed
| Vehicle | Sleeve | First filed | Latest filing | Filing record | SEC |
|---|---|---|---|---|---|
| Terrain Opportunity IV, LPCIK 2146099 | First sale yet to occur | EDGAR |
Sold to date and investors
Unlock in the terminal (Investor)Fund III
1 vehicle · first filed
| Vehicle | Sleeve | First filed | Latest filing | Filing record | SEC |
|---|---|---|---|---|---|
| Terrain Opportunity III, LPCIK 2096378 | First sale yet to occur | EDGAR |
Sold to date and investors
Unlock in the terminal (Investor)Fund II
1 vehicle · first filed
| Vehicle | Sleeve | First filed | Latest filing | Filing record | SEC |
|---|---|---|---|---|---|
| Terrain Opportunity II, LPCIK 2085072 | First sale yet to occur | EDGAR |
Sold to date and investors
Unlock in the terminal (Investor)Fund I
1 vehicle · first filed
| Vehicle | Sleeve | First filed | Latest filing | Filing record | SEC |
|---|---|---|---|---|---|
| Terrain Opportunity I, LPCIK 2057302 | First sale yet to occur | EDGAR |
Sold to date and investors
Unlock in the terminal (Investor)Questions about the Terrain Opportunity funds
- How many Terrain Opportunity funds are there?
- The SEC Form D record shows 5 vehicles in 5 numbered generations, the earliest filed Feb 21, 2025 and the latest filing on Jul 20, 2026. By generation: Fund V (Terrain Opportunity V, LP, first filed Jul 7, 2026); Fund IV (Terrain Opportunity IV, LP, first filed Jul 20, 2026); Fund III (Terrain Opportunity III, LP, first filed Nov 25, 2025); Fund II (Terrain Opportunity II, LP, first filed Sep 11, 2025); Fund I (Terrain Opportunity I, LP, first filed Feb 21, 2025).
- What is the latest Terrain Opportunity fund?
- Terrain Opportunity V, LP, which first filed a Form D on Jul 7, 2026. Its own page carries the filed terms, the people named on the form and every filing on EDGAR.
- Who is the adviser to the Terrain Opportunity funds?
- Terrain Capital Management, LLC (ERA, CRD 333460), joined from Form ADV Schedule D, where an adviser lists each private fund it advises and the fund's Form D file number.
- How much have the Terrain Opportunity funds raised?
- Each vehicle reports an amount sold and an investor count on its latest Form D or amendment, and those figures are on each vehicle's entity page. The totals by generation are in the AltStreet Terminal (Investor), where master and parallel sleeves that report one family-wide figure are counted once.
- How does AltStreet group these funds into a family?
- By name: the base name minus the fund number, sleeve letters, jurisdiction and legal form, read from each issuer's Form D (lib/edgar/fundFamilies.ts). 'Fund IV' is generation 4; a vehicle whose name carries no number is listed as unnumbered. It is a name-based grouping, not a statement of common control; the filings on each entity page show the related persons as filed.