INDEPENDENT VERDICT
Entrepreneurs Capital LP - Series 4 is a fully subscribed 2026 venture vehicle whose strongest verification signal is not its Delaware address but the person named in the SEC filing. The September 14 Form D reports a $2,076,923 Rule 506(b) offering that was already completely sold to 13 investors only three days after the September 11 first sale. Daniel Dubois is the sole related person and is identified as Director, while Jared Snow signed as Chief of Staff. Separate official Entrepreneurs Capital materials describe a global investment community created from EO Angels and YPO Angels, and Moonrise's biography of Dubois expressly says he started EO and YPO Angels, now Entrepreneurs Capital. This makes the manager/brand connection materially stronger than the generic administrative information visible in the SEC notice. At the same time, Series 4 itself remains highly opaque: Form D does not identify the company being financed, the securities acquired, valuation, ownership percentage or whether this particular series participates in the publicly advertised Entrepreneurs Capital x Side Door Ventures Seed Fund.
FROM EO AND YPO ANGELS TO ENTREPRENEURS CAPITAL
Entrepreneurs Capital publicly describes itself as a founder-investor network designed to connect entrepreneurs around the world with Silicon Valley venture opportunities. Its website says EO Angels and angels within YPO came together to form Entrepreneurs Capital and describes a network built around entrepreneurs who have already created operating businesses rather than passive financial investors. The platform states that investors are members of EO or YPO and promotes the network's ability to help portfolio companies with expansion, hiring, distribution and corporate development across international markets. The site also markets private discussions with well-known founders and venture investors and says its venture strategy seeks to invest alongside top-tier venture firms on the same terms. These are platform-provided descriptions, not SEC-verified statistics, but they give this fund family a more specific identity than a generic syndicate.
Daniel Dubois provides the bridge between that public platform and the Form D. Moonrise identifies Dubois as the person who started EO and YPO Angels, now Entrepreneurs Capital, and also describes him as a partner with Side Door Ventures. Elea Collective independently identifies him as Founder of Entrepreneurs Capital. Entrepreneurs Capital's own website separately markets an "Entrepreneurs Capital x Side Door Ventures Seed Fund" focused on companies valued below $20 million. Those sources establish a genuine business relationship between Dubois, Entrepreneurs Capital and Side Door Ventures at the platform level. They do not, however, establish that Entrepreneurs Capital LP - Series 4 owns an interest in that seed fund or that Series 4 invests under the same sub-$20 million valuation mandate. That distinction should remain explicit until the Series 4 subscription or investment documents identify the underlying transaction.
SERIES 4 LOOKS MORE LIKE A DEAL VEHICLE THAN A TRADITIONAL FLAGSHIP FUND
The capital pattern is consistent with a compact transaction-specific structure. Series 4 was formed in Delaware in 2025 but did not record its first sale until September 11, 2026. Only three days later, the Form D reported the complete $2,076,923 target sold to 13 investors with nothing remaining. The fund selected both equity and pooled investment fund interests, classified itself specifically as a Venture Capital Fund and stated that the offering would not last more than one year. No commissions, finder's fees or direct payments to Daniel Dubois were reported. A rapid, fixed-size close with a small investor group is structurally compatible with an SPV or opportunity-specific series, although Form D itself does not formally label Series 4 as a single-asset SPV.
The existence of earlier numbered vehicles strengthens that interpretation. SEC records show Entrepreneurs Capital LP - Series 2 filing a separate Rule 506(b) offering in August 2026. Series 2 reported a $63,000 offering, fully sold to four investors, and again listed Daniel Dubois as Director with Jared Snow signing as Chief of Staff. The enormous difference between Series 2 at $63,000 and Series 4 at $2.077 million suggests that individual Entrepreneurs Capital series may be sized to particular opportunities rather than following one standardized fund size. However, public records reviewed here do not establish the complete Series 1-through-Series 4 chronology, and the underlying assets of Series 2 and Series 4 are not identified in their Form D notices.
THE BIGGEST INFORMATION GAP IS THE ACTUAL INVESTMENT
Series 4's SEC filing provides a precise capitalization number but almost no asset-level information. It does not disclose the portfolio company, lead investor, financing round, price per share, pre-money or post-money valuation, share class, liquidation preference, pro-rata rights, management fee, carried interest, administrative expense or expected liquidity path. This matters particularly because Entrepreneurs Capital publicly advertises access to competitive venture deals and emphasizes investing alongside established venture firms. A Series 4 investor should therefore determine which lead investor negotiated the round, whether Entrepreneurs Capital actually received the same economic terms, whether any SPV-level fees alter those economics and whether Series 4 owns shares directly or through another holding vehicle.
The $0 minimum investment on Form D should also not be read literally as evidence that the fund has no subscription minimum. The filing reports 13 investors contributing a total of $2,076,923, meaning the actual commitments were governed by private subscription documents not visible in EDGAR. Similarly, selecting both Section 3(c)(1) and Section 3(c)(7) does not by itself explain the beneficial-owner eligibility structure. Investors should rely on the partnership agreement and subscription questionnaire to understand who can participate and which Investment Company Act exclusion the vehicle ultimately relies upon for its investor base.
ADMINISTRATIVE ADDRESS SHOULD NOT BE CONFUSED WITH THE INVESTMENT OFFICE
The SEC filing uses 8 The Green, Suite 13283 in Dover, Delaware. As seen with other recent series vehicles, this address appears across numerous unrelated private investment entities and should be treated primarily as an administrative or recordkeeping address unless separate evidence establishes that the investment team actually operates there. Entrepreneurs Capital's public identity is international rather than Delaware-centric, and Dubois is publicly associated with a broader North American and global entrepreneur network. The filing itself also contains a contact-data inconsistency: the Form D body lists phone number 647-781-725, while the SEC filing index displays 951-901-0232. That may reflect filing infrastructure or data-entry differences, but investors should confirm formal contact details directly instead of relying exclusively on either number.
FINAL ASSESSMENT
Entrepreneurs Capital Series 4 has a stronger platform-verification profile than many opaque numbered venture vehicles. SEC EDGAR verifies a fully sold $2.077 million fund, 13 investors and Daniel Dubois as Director. Entrepreneurs Capital's own site and independent public profiles establish Dubois as the founder behind the EO/YPO angel network that became Entrepreneurs Capital, and the platform publicly describes both its founder-investor community and a collaboration with Side Door Ventures. Earlier Series 2 filings also show that the September Series 4 offering sits inside a repeat numbered-vehicle architecture rather than being the only legal fund associated with the brand.
The critical unknown is nevertheless the one that matters most economically: what Series 4 actually purchased. A credible founder network, recognizable venture relationships and a completed SEC-reported raise establish the existence and operating context of the vehicle; they do not establish the quality or valuation of its underlying startup investment. Investors should verify the target company, financing round, share class, valuation, lead investor, side-letter rights, SPV fees, carried interest, ownership structure and exit mechanics before evaluating Series 4 as an investment.
KEY FINDINGS Entrepreneurs Capital LP - Series 4 was organized in Delaware in 2025. The fund filed a new Form D on September 14, 2026. Its first sale occurred September 11, 2026. The filing occurred three days after first sale. The total offering was $2,076,923. The full $2,076,923 had already been sold. Nothing remained under the stated offering. 13 investors participated. No non-accredited investors were reported. The issuer classified itself as a Venture Capital Fund. The offering relies on Rule 506(b). The filing selected Section 3(c), Section 3(c)(1) and Section 3(c)(7). Daniel Dubois is the only related person and is identified as Director. Jared Snow signed as Chief of Staff. Sales commissions are reported as $0. Finder's fees are reported as $0. Related-person use of proceeds is reported as $0. Entrepreneurs Capital publicly traces its origin to EO Angels and YPO Angels. Independent public evidence identifies Daniel Dubois as the founder of the network that became Entrepreneurs Capital. Entrepreneurs Capital publicly promotes a collaboration with Side Door Ventures. Series 4's underlying portfolio company is not disclosed in Form D. An earlier Entrepreneurs Capital LP - Series 2 vehicle raised $63,000 from four investors in August 2026. The large difference in series sizes supports a deal-specific vehicle interpretation, although Form D does not expressly label Series 4 a single-asset SPV.
SERIES EVIDENCE
Entrepreneurs Capital LP - Series 2 CIK: 0002146581 First sale: August 4, 2026 Form D signed: August 11, 2026 Offering amount: $63,000 Amount sold: $63,000 Remaining: $0 Investors: 4 Director: Daniel Dubois Signer: Jared Snow Classification: Venture Capital Fund Exemption: Rule 506(b)
Entrepreneurs Capital LP - Series 4 CIK: 0002133756 First sale: September 11, 2026 Form D filed: September 14, 2026 Offering amount: $2,076,923 Amount sold: $2,076,923 Remaining: $0 Investors: 13 Director: Daniel Dubois Signer: Jared Snow Classification: Venture Capital Fund Exemption: Rule 506(b)
WEBSITE / ENTITY PENETRATION Official brand: Entrepreneurs Capital Official domain: entrepreneurs.capital Daniel Dubois / Entrepreneurs Capital relationship: Confirmed EO Angels predecessor relationship: Confirmed through public Entrepreneurs Capital and Dubois materials YPO Angels relationship: Confirmed through public materials Entrepreneurs Capital x Side Door Ventures relationship: Confirmed at platform level Series 4 participation in Side Door seed fund: Not established Daniel Dubois / Side Door Ventures relationship: Confirmed through independent public biography Founder-investor community model: Confirmed through Entrepreneurs Capital website Public global entrepreneur network claim: Confirmed as a company-provided statement Specific Series 4 portfolio company: Not disclosed Specific financing round: Not disclosed Lead investor: Not disclosed Valuation: Not disclosed Share class: Not disclosed Ownership percentage: Not disclosed Management fee: Not disclosed Carried interest: Not disclosed Administrator: Not specifically identified Auditor: Not identified Custodian: Not identified Fund counsel: Not identified
CORE INVESTOR QUESTIONS What company does Series 4 own Is Series 4 a single-company SPV What financing round does the investment relate to Who is the lead investor Did Entrepreneurs Capital invest on exactly the same terms as the lead What was the pre-money and post-money valuation What class of shares or securities was purchased What liquidation preference applies Does the vehicle have pro-rata or information rights Is the investment primary, secondary or mixed Does Series 4 invest directly or through another vehicle What percentage of the portfolio company does Series 4 own What management or administrative fee applies What carried interest or performance allocation applies Does Side Door Ventures receive any economics from Series 4 Does Entrepreneurs Capital receive any sponsor or syndication fee Who holds the underlying securities What transfer restrictions apply How are follow-on investments handled What happens if additional capital is required How will distributions occur after an IPO, acquisition or secondary sale Are different Entrepreneurs Capital series legally segregated What liabilities can be allocated across series Why do Series 2 and Series 4 have dramatically different offering sizes
CORE RISKS Underlying asset not publicly identified Potential single-company concentration Early-stage venture loss risk Private-company valuation uncertainty Illiquidity Transfer restrictions Potential dilution Unclear fee and carry structure Series-vehicle legal complexity Limited public service-provider disclosure Potential reliance on manager access and network relationships No public evidence that Series 4 receives the same terms as any named institutional co-investor Risk of confusing platform-level Side Door relationship with this specific series Administrative-address and telephone ambiguity
SEC SNAPSHOT Issuer: Entrepreneurs Capital LP - Series 4 CIK: 0002133756 SEC File No.: 021-597351 Film No.: 261376541 Accession: 0002133756-26-000001 Filed: September 14, 2026 Accepted: September 14, 2026 First sale: September 11, 2026 Formation: Delaware, 2025 Business address: 8 The Green, Suite 13283, Dover, DE 19901 Form D phone: 647-781-725 SEC filing-index phone: 951-901-0232 Industry: Pooled Investment Fund Subtype: Venture Capital Fund Security: Equity / Pooled Investment Fund Interests Exemption: Rule 506(b) Investment Company Act exclusions selected: Section 3(c), Section 3(c)(1), Section 3(c)(7) Offering amount: $2,076,923 Amount sold: $2,076,923 Remaining: $0 Percentage sold: 100% Investors: 13 Non-accredited investors reported: 0 Minimum investment reported: $0 Offering longer than one year: No Sales commissions: $0 Finder's fees: $0 Related-person use of proceeds: $0 Director: Daniel Dubois Signer: Jared Snow Signer title: Chief of Staff
PRIMARY EVIDENCE REVIEWED SEC EDGAR — Entrepreneurs Capital LP - Series 4 Form D SEC EDGAR — Entrepreneurs Capital LP - Series 2 Form D Entrepreneurs Capital — official website and platform description Entrepreneurs Capital — public Side Door Ventures Seed Fund materials Moonrise — official Daniel Dubois biography Elea Collective — Daniel Dubois / Entrepreneurs Capital founder identification Public Entrepreneurs Capital operating and recruiting materials
IMPORTANT FORM D NOTICE Form D is a notice of an exempt securities offering. Filing with the SEC does not mean the SEC has approved, endorsed, verified or recommended Entrepreneurs Capital LP - Series 4, Daniel Dubois, Entrepreneurs Capital, Side Door Ventures, any underlying startup, any valuation or any expected return. The Series 4 portfolio company and deal economics are not identified in Form D and should be verified through the partnership agreement, subscription materials, investment documents, capitalization records and underlying-company transaction documents.