Sapphire Star Partners Concentrated Stock L.P. is a hedge fund based in Redmond, Washington. According to its most recent Form D, filed Dec 4, 2025, the fund has sold $18,879,588 of interests to 18 investors since its first sale in Jan 2024. The filing does not set a minimum investment. 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 Sapphire Star Capital LLC; Michael Borgen.
- Total raised
- $18,879,588Cumulative sales reported on Form D
- Investors
- 18
- First sale
- Jan 1, 2024
- Minimum investment
- None set
- 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
- Sapphire Star Capital LLC; Michael Borgen
- Latest Form D
- Dec 4, 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 51% of the 61 hedge funds based in Washington, and more than 29% of all 10,157 that report sales.