Blacksheep Fund Ltd. is a hedge fund based in Grand Cayman, Cayman Islands. According to its most recent Form D, filed Feb 13, 2026, the fund has sold $571,400,000 of interests to 9 investors since its first sale in Nov 2018. The minimum investment it accepts from an outside investor is $100,000. 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. Related persons named in the filing include Jonathan Bull; Brad Cowdroy; Alexis Fortune.
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
- $571,400,000Cumulative sales reported on Form D
- Investors
- 9
- First sale
- Nov 15, 2018
- Minimum investment
- $100,000
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Jonathan Bull; Brad Cowdroy; Alexis Fortune
- Latest Form D
- Feb 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 77% of the 2,343 hedge funds based in Cayman Islands, and more than 83% of all 10,157 that report sales.