INDEPENDENT VERDICT
Decimal Capital Fund I LP is a newly formed venture capital vehicle with a verifiable SEC filing but, as of September 18, 2026, no completed first sale reported on Form D. The Delaware limited partnership filed under CIK 0002153288 from 10960 Wilshire Blvd., Suite 1900 in Los Angeles and selected Venture Capital Fund as its pooled-investment-fund classification. It relies on Rule 506(b) and Investment Company Act Section 3(c)(7), offers pooled investment fund interests on an indefinite basis and reported $0 sold and zero investors because the first sale had yet to occur. Morgan Beller is the only individual named in Item 3, while Decimal Capital GP I LLC is identified alongside her as a related person; Beller signed the filing as Managing Member of the General Partner. These are hard regulatory facts. By contrast, the widely reported roughly $500 million target associated with Decimal Capital does not appear in the Form D, because the SEC filing lists the offering amount as indefinite. The reported $500 million figure should therefore be treated as a media-reported fundraising objective rather than an SEC-confirmed fund size.
WEBSITE / ENTITY PENETRATION
Entity verification is currently stronger on the SEC side than on the public-web side. The filing confirms Decimal Capital Fund I LP, Decimal Capital GP I LLC, Morgan Beller, the Los Angeles address and the venture-capital classification, but FilingDossier did not independently confirm a dedicated official website for this new fund from the public sources reviewed. This matters because there are several unrelated businesses using "Decimal Capital" or similar names online, including an older Miami family-office profile and "8 Decimal Capital," a crypto and technology investment firm. Those entities should not be automatically connected to Decimal Capital Fund I LP. The most credible public reporting concerning the new 2026 Decimal Capital instead describes Morgan Beller and Ashton Kutcher as launching a new venture firm together, with a reported target of approximately $500 million. The legal SEC filing, however, currently names Beller rather than Kutcher as the disclosed related individual. That distinction should remain explicit until Kutcher appears in primary fund documents, an amended Form D, GP records or another authoritative source linking him directly to the issuer.
MANAGER HISTORY AND THE REPORTED KUTCHER-BELLER PARTNERSHIP
The fund's distinctive story comes from the backgrounds associated with the reported founding team. Morgan Beller is widely known from venture and crypto circles for prior work at NFX and for her involvement in Facebook/Meta's Libra project, while Ashton Kutcher has a long technology-investing history and was previously associated with Sound Ventures. Recent reporting says Kutcher left Sound Ventures after roughly eleven years to launch Decimal Capital with Beller. The same reporting describes the strategy as early-stage investing focused on infrastructure underlying the AI economy, including AI infrastructure, energy and deep technology, with plans to invest in roughly 35 companies, typical seed checks of approximately $3 million to $6 million, selected larger investments around $15 million and roughly half the fund reserved for follow-on investments. These strategy details are important but must be labeled correctly: they come from reporting about the proposed fund, not from the September 18 Form D itself. The SEC document does not disclose portfolio construction, check sizes, reserve ratios or a $500 million target.
FUND STRUCTURE AND REGULATORY SIGNALS
The Form D itself provides a cleaner picture of the legal structure. Decimal Capital Fund I LP was organized in Delaware in 2026, is not registered as an investment company, and claims Section 3(c)(7), a private-fund exclusion commonly associated with qualified purchasers. The issuer selected Rule 506(b), meaning the offering generally cannot rely on unrestricted public general solicitation. No sales commissions, finder's fees or Item 16 payments to related persons were reported. The Form D lists a $0 minimum investment, but that should not be interpreted as proof that the fund accepts zero-dollar or retail subscriptions; the partnership agreement and subscription documents may impose substantial minimums and Section 3(c)(7) creates a separate investor-eligibility framework. The filing also says the offering is not intended to last more than one year. Because the first sale had yet to occur, there is currently no Form D evidence establishing first-close size, number of LP commitments, institutional participation or how much of any reported $500 million target has actually been secured.
CORE RISKS AND DILIGENCE
The principal diligence issue is the gap between a high-profile reported launch and the still-early regulatory record. A reported $500 million first-time fund would be unusually large relative to many debut venture vehicles, making the identity and terms of anchor LP commitments especially important. Investors should confirm whether the target remains $500 million, whether there is a hard cap, who has made binding commitments, how much capital the GP contributes, and whether Ashton Kutcher has a formal GP, investment-committee or ownership role in Decimal Capital Fund I. They should also request the LPA, PPM, subscription documents, Form ADV or exempt-reporting-adviser information where applicable, management-company ownership chart, administrator, auditor, legal counsel and banking/custody arrangements. Strategy diligence should focus on concentration risk in AI infrastructure and deep tech, capital intensity of energy and hardware investments, follow-on reserve requirements, valuation methodology for illiquid companies and the possibility that large check sizes could create meaningful exposure to a relatively small number of companies. Investors should also separate the prior track records of Beller and Kutcher from Fund I performance: a new fund does not automatically inherit the realized returns of investments made at NFX, Sound Ventures or other prior firms.
FINAL ASSESSMENT
Decimal Capital Fund I is best understood today as a newly launched, SEC-filed venture fund attached to a high-profile reported founding story, not yet as an established fund with a public fundraising or performance history. The September 18, 2026 Form D verifies Decimal Capital Fund I LP, Decimal Capital GP I LLC, Morgan Beller, the Los Angeles address, Rule 506(b), Section 3(c)(7), an indefinite offering and the fact that no first sale had yet occurred. Separate reporting links Beller with Ashton Kutcher and describes a roughly $500 million fundraising objective centered on AI infrastructure, energy and deep technology, but those details exceed what the Form D itself confirms. That distinction is the core research point for FilingDossier: the regulatory record proves the existence and legal structure of the new fund, while the reported fund size, Kutcher's precise legal role, strategy implementation, LP base and economics still require documentary confirmation. Investors should wait for or request first-close information, partnership documents and primary-source management disclosures before treating media-reported plans as completed fundraising facts.
SEC SNAPSHOT
Issuer: Decimal Capital Fund I LP CIK: 0002153288 SEC Form: Form D Accession No.: 0002153288-26-000001 File No.: 021-598152 Film No.: 261391088 Filing Date: September 18, 2026 Jurisdiction: Delaware Year Organized: 2026 Principal Address: 10960 Wilshire Blvd., Suite 1900, Los Angeles, CA 90024 Telephone: (516) 376-8572 Industry: Pooled Investment Fund Fund Classification: Venture Capital Fund Investment Company Registered: No Investment Company Act Exclusion: Section 3(c)(7) Offering Exemption: Rule 506(b) Security Type: Pooled Investment Fund Interests Offering Amount: Indefinite Amount Sold: $0 Remaining: Indefinite First Sale: Yet to occur Investors at Filing: 0 Minimum Investment Reported: $0 Offering Expected Over One Year: No Sales Commissions: $0 Finder's Fees: $0 Item 16 Related-Person Payments: $0 General Partner: Decimal Capital GP I LLC Named Individual: Morgan Beller Morgan Beller Role: Managing Member of the General Partner Reported Co-Founder: Ashton Kutcher Reported Fundraising Target: Approximately $500 million Important Qualification: The approximately $500 million figure is media-reported and is not the offering amount reported on Form D Official Fund Website: Not independently confirmed
WEBSITE / ENTITY PENETRATION
SEC issuer confirmed: YES Decimal Capital GP I LLC relationship confirmed: YES Morgan Beller relationship confirmed: YES Los Angeles address confirmed: YES Official dedicated fund website confirmed: NO Ashton Kutcher named in September 18 Form D: NO Kutcher relationship reported by major media: YES $500 million amount shown in Form D: NO SEC offering amount: Indefinite First close confirmed in Form D: NO Investors reported in Form D: 0 Published Fund I portfolio: Not yet independently confirmed Fund I audited performance: Not applicable / not established Fund administrator: Not confirmed Auditor: Not confirmed Custodian: Not confirmed Legal counsel: Not confirmed
CORE INVESTOR QUESTIONS
Has Decimal Capital Fund I completed a first close since September 18, 2026 Is the current target still approximately $500 million What is the hard cap What is Ashton Kutcher's exact legal and investment role What ownership interests do Morgan Beller and Ashton Kutcher hold in the GP or management company How much capital has the GP committed What management fee and carried interest apply What key-person provisions apply to Beller and Kutcher Which LPs or anchor investors have made binding commitments What percentage of capital will be reserved for follow-on investments What concentration limits apply to individual companies How much exposure may the fund take to capital-intensive energy or hardware businesses Who serves as administrator, auditor, counsel and custodian How are private portfolio companies valued How are prior investments from NFX, Sound Ventures or other firms separated from Decimal Capital's own track record
PRIMARY EVIDENCE REVIEWED
SEC Form D for Decimal Capital Fund I LP, filed September 18, 2026. SEC EDGAR filing index for CIK 0002153288. SEC primary Form D document identifying Morgan Beller and Decimal Capital GP I LLC. Recent Wall Street Journal reporting on Decimal Capital, Morgan Beller and Ashton Kutcher. Secondary venture-industry reporting used only to cross-check the reported strategy and fundraising target. Public searches for official Decimal Capital website and similarly named investment firms.
IMPORTANT FORM D NOTICE
A Form D is a notice of an exempt securities offering. It is not SEC approval of Decimal Capital Fund I, Morgan Beller, Ashton Kutcher, the reported $500 million fundraising target or any proposed investment strategy. The SEC specifically states that it has not necessarily reviewed Form D information for accuracy or completeness. In this case the SEC filing reports an indefinite offering, $0 sold, zero investors and no completed first sale as of September 18, 2026. The approximately $500 million target comes from external reporting and should not be represented as an SEC-confirmed offering amount or completed fundraise.