DFX Intelligence
PR-1118 Fund I, a series of Nebular Expansion Series, LP
As of · the latest observation of this vehicle; each figure below carries its own filing date
Newly closedClosed to new capitalADV: Venture Capital FundSingle-purpose vehicle
A single-purpose vehicle, usually formed for one deal.
As of · the latest observation of this vehicle; each figure below carries its own filing date
What matters now
- $1.32Msold at the filing
Latest Form D filed on 9 Dec 2025: $1.32M sold of $1.32M offered, 3 investors. A Form D amount is what was sold at the filing, never a final close.
A new or amended Form D means the vehicle is taking money now.
Drawing the relationship network…
Amounts, each with its basis
- Vintage
- 2025basis: form d first sale
- Target
- unknownnot announced
- First close
- unknownnever inferred from a Form D
- Final close
- unknownonly from an announcement or an LP disclosure
- Announced size
- unknown
- Form D offering
- $1.3Mwhat may be sold, not what was raised; file 021-566295, sworn by the adviser or filed under this vehicle
- Form D sold
- $1.3Mas of the filing of Dec 9, 2025, 3 investors
- First sale
- Dec 1, 2025
- Reported GAV
- $1.3Mon the Form ADV filed Sep 12, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 3
- Reported on ADV
- Sep 12, 2026 to Sep 12, 2026
Fundraising evidence
What counts as raisingA Form D offering is permission to sell, not a fund in market; an amount sold is never a close; an evergreen offering amended every year is not a raise.Closed to new capital
Form D filed or amended 2025-12-09: the stated $1.3M offering reported fully sold (fr-1)
evidence dated Dec 9, 2025.
Lifecycle
Newly closed
Lifecycle
first sale within 24 months; Form D sold out or quiet
first sale: Dec 1, 2025vintage year: 2025adv gav as of: Sep 12, 2026vintage basis: Form d first saleform d sold: $1.3Mform d offering: $1.3Mform d latest filed at: Dec 9, 2025
The fund's own reporting through time
1 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Sep 12, 2026 | Venture Capital Fund | $1.3M | 3 | $1,000 | 0% |
Principals and agents
3 principals on Form D, 0 placement agents
- Finn Murphy Executive Officer
- Nebular Fund I GP, LLC Director
- Nebular Fund I GP, LLC general partner (ADV 7.B.(1).A.3)
Service providers
3 named on Form ADV Schedule D and Form D
- AdministratorBelltower Fund Group (AngelList) · SEATTLE, Washington, United StatesForm ADV filed Mar 25, 2026 reports.adviserinfo.sec.gov
- CustodianBelltower Fund Group (AngelList) · SEATTLE, Washington, United StatesForm ADV filed Mar 25, 2026 reports.adviserinfo.sec.gov
- MarketerAngelList · SAN FRANCISCO, California, United StatesForm ADV filed Mar 25, 2026 reports.adviserinfo.sec.gov
Limited partners and their reported performance
Whose numbers these areEach row is the LP’s own number: its cash flows and its valuation policy as of its reporting date, not the fund’s. Net IRR is printed only when the LP prints one. The vintage is the LP’s definition (CalPERS: year of its first cash flow; WSIB: year of its initial investment).0 public LP reports
No public LP has reported this vehicle. The LP tape is read from public pension disclosures (see Limited partners); a fund appears here only when an LP’s report names it.
Known LPs and allocators
What these amounts and dates areA commitment date prints only when the source printed one; otherwise the row carries the date of the report that listed it. A foundation’s 990-PF line is a holding at fair value on its return, never a commitment.0 relationships, public pensions and the allocator graph, each counted once
No allocator names this vehicle in a public disclosure DFX holds: pension reports, foundation 990-PF returns or endowment disclosures.
Investments attributed to this vehicle
0
No investment attributed to this vehicle. The firm’s investments sit on the firm; a fund gets one only when a source names the vehicle.
Timeline
1 event
- Dec 9, 2025PR-1118 Fund I, a series of Nebular Expansion Series, LP filed Form D: $1,318,000 sold of $1,318,000, Venture Capital FundForm D filed Fact Form D
Evidence
17 observations
Every observation on this vehicle
- Adv pdf fund: 1,298,000 Sep 12, 2026 Fact Form ADV
- Entity type: Limited Partnership Dec 9, 2025 Fact Form D
- Form D fund type: Venture Capital Fund Dec 9, 2025 Fact Form D
- Form D industry group: Pooled Investment Fund Dec 9, 2025 Fact Form D
- Amendment: false Dec 9, 2025 Fact Form D
- Revenue range (Form D): Decline to Disclose Dec 9, 2025 Fact Form D
- Incorporated: withinFiveYears Dec 9, 2025 Fact Form D
- Jurisdiction: Delaware Dec 9, 2025 Fact Form D
- Amount sold (Form D): $1.3M Dec 9, 2025 Fact Form D
- Offering amount (Form D): $1.3M Dec 9, 2025 Fact Form D
- Exemptions: 06b, 3C, 3C.1 Dec 9, 2025 Fact Form D
- First sale: 2025-12-01 Dec 9, 2025 Fact Form D
- Investors (Form D): 3 Dec 9, 2025 Fact Form D
- Minimum investment (Form D): 0 Dec 9, 2025 Fact Form D
- Securities offered: pooled Dec 9, 2025 Fact Form D
- Office address: Dec 9, 2025 Fact Form D
- Year of incorporation: 2025 Dec 9, 2025 Fact Form D
Relationships across DFX
on 1 other DFX graph
Across the graphs
PR-1118 Fund I, a series of Nebular Expansion Series, LP is the same institution as 1 record in RIA and Wealth.
RIA and Wealth1
The joined record opens with the product, beside every other relationship on this page.
Checking your plan…
Record history
1 dated event on the change ledger, latest event first
- Form D filed2025-12-09source on record
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.