Norse Star One, LP is a hedge fund based in West Des Moines, Iowa. According to its most recent Form D, filed Oct 20, 2025, the fund has sold $15,000,000 of interests to 2 investors since its first sale in Nov 2022. The minimum investment it accepts from an outside investor is $250,000. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(b), which does not permit general solicitation. Based on its first sale date and the amount raised, HedgeMountain classifies it as an emerging manager. Related persons named in the filing include Norse Star Capital, LLC; David Rasmussen.
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
- $15,000,000Cumulative sales reported on Form D
- Investors
- 2
- First sale
- Nov 9, 2022
- Minimum investment
- $250,000
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Norse Star Capital, LLC; David Rasmussen
- Latest Form D
- Oct 20, 2025
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 71% of the 7 hedge funds based in Iowa, and more than 25% of all 10,157 that report sales.