HedgeMountain

Universa Black Swan Protection Protocol XCI L.P.

Miami, FL · CIK 2039029
Emerging

Universa Black Swan Protection Protocol XCI L.P. is a hedge fund based in Miami, Florida. According to its most recent Form D, filed Sep 21, 2026, the fund has sold $2,185,000 of interests to 8 investors since its first sale in Oct 2025. 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. Based on its first sale date and the amount raised, HedgeMountain classifies it as an emerging manager. Related persons named in the filing include Eric Spencer; Universa Safe Haven Delaware GP 5 LLC; Mark Spitznagel.

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
$2,185,000Cumulative sales reported on Form D
Investors
8
First sale
Oct 31, 2025
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
Eric Spencer; Universa Safe Haven Delaware GP 5 LLC; Mark Spitznagel
Latest Form D
Sep 21, 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 30% of the 743 hedge funds based in Florida, and more than 9% of all 10,157 that report sales.

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