The structural question is what differentiates Roadrunner from OCA Ventures IV and the Growth Fund. Public SEC records do not fully explain this. The name could reflect follow-on capital, an opportunity pool, a subset of portfolio investments or another customized allocation. Investors should obtain the operating agreement or PPM before assigning a strategy based solely on the name.
2026 FORM D: $10.54 MILLION, 36 INVESTORS AND A FULLY SOLD OFFERING
Roadrunner II's Form D contains several unusually useful details.
The offering amount is finite rather than indefinite: $10,540,000.
The amount sold is also exactly $10,540,000.
The amount remaining is $0.
The filing therefore indicates that the vehicle was fully subscribed at the time of filing.
The investor count is 36, which implies a mechanical average subscription of approximately $293,000 if capital were evenly distributed. Actual commitments are almost certainly uneven, and the $0 minimum reported on Form D means only that the issuer did not establish a public regulatory minimum in the filing. It does not mean small retail subscriptions were accepted.
The offering was structured under Rule 506(b), meaning the issuer did not rely on general solicitation under Rule 506(c). Section 3(c)(1) and Section 3(c)(7) are both checked in the filing, an unusual combination that may reflect the specific legal architecture of the vehicle or classes of investors. Investors should rely on fund counsel and governing documents to understand the exact exclusion structure.
The first sale occurred June 25, 2026. Jim Dugan signed the notice June 29, and it was filed publicly on July 6.
This tight timeline suggests a fund that had already been substantially organized and subscribed before its EDGAR appearance.
The filing reports no sales compensation recipient and no commissions or finder's fees, which is consistent with a manager raising capital directly from an established investor network.
SEC-REGISTERED ADVISER STATUS: A MATERIAL 2026 DEVELOPMENT
One of the most important current developments is OCA Ventures LLC's move into SEC registration.
Current Form ADV-derived records identify:
OCA Ventures, LLC CRD 161160 SEC File 801-136135 Principal Office: 20 N. Wacker Drive, Chicago SEC Registration Effective: April 30, 2026 Regulatory AUM: Approximately $316,423,456 Client Accounts: 7 Discretionary AUM: Approximately 100% Primary Service: Portfolio management for pooled investment vehicles
This is meaningful because historical OCA adviser data showed a different reporting status and substantially lower publicly visible assets. The 2026 SEC registration suggests the firm's regulatory asset base crossed or otherwise became subject to federal registration requirements.
Registration should not be misunderstood. The SEC does not approve OCA's funds, verify portfolio valuations or guarantee investor returns. It does, however, impose an expanded disclosure and compliance framework through Form ADV.
The latest public Form ADV summaries report no disciplinary disclosures under Item 11. That is a useful data point but should remain narrowly stated: absence of ADV disclosures does not prove the absence of every commercial dispute, portfolio-company litigation, examination comment or private claim.
The transition into full SEC registration is particularly relevant for Google because older websites may continue describing OCA using its earlier exempt-reporting-adviser status or legacy SEC number. FilingDossier should prioritize the current CRD 161160 / SEC 801-136135 record while preserving historical context when appropriate.
PORTFOLIO DEPTH: 125+ COMPANIES, 2,000+ JOBS AND $1 BILLION+ FOLLOW-ON CAPITAL
OCA's official portfolio is large enough to evaluate the manager through actual company outcomes rather than only fund filings.
The firm currently says it has funded more than 125 companies, with portfolio businesses creating more than 2,000 jobs and raising more than $1 billion in follow-on capital.
Its sector mix is concentrated in:
Enterprise software Consumer software Fintech Digital health Healthcare technology Selected biotech / medtech AI and automation
This breadth is visible in the portfolio itself.
Snapsheet developed cloud-native insurance claims technology.
SpotHero built a digital parking marketplace.
The Mom Project created a talent platform focused on mothers and workforce participation.
Ocient develops database and analytics technology for hyperscale datasets.
GrayMatter Robotics applies AI and robotics to industrial manufacturing.
mPulse operates conversational AI solutions in healthcare.
Osso VR built virtual-reality surgical training.
VeriSIM Life applies AI to drug-development modeling.
LogicGate operates risk and compliance software.
Placer.ai provides location-analytics data.
This portfolio demonstrates that OCA's current strategy is not confined to Chicago despite the firm's local roots. Portfolio companies span Illinois, California, New York, Missouri, Indiana and other U.S. markets, plus selected Canadian companies.
At the same time, the Chicago network remains an important competitive advantage. OCA has backed numerous Midwest businesses before they became nationally recognized, giving it a differentiated sourcing position from Silicon Valley firms competing primarily for West Coast deals.
REAL EXITS: GOOGLE, IBM, NASDAQ, ALLY, RAYMOND JAMES AND OTHERS
OCA's public portfolio includes a meaningful list of realized acquisitions, providing more concrete evidence than a venture firm that shows only unrealized logos.
Tenor, an online GIF search platform, was acquired by Google in 2018.
Cleversafe, a cloud object-storage technology company, was acquired by IBM in 2015.
Solovis, an institutional investment-management technology platform, was acquired by Nasdaq in 2020.
TradeKing, the online brokerage platform, was acquired by Ally Financial in 2016.
SumRidge Partners, a fixed-income electronic trading company, was acquired by Raymond James in 2022.
Healthfinch was acquired by Health Catalyst in 2020.
Health iPass was acquired by Sphere in 2020.
SwipeSense was acquired by SC Johnson in 2020.
QL Gaming was acquired by Entercom in 2020.
Trim was acquired by OneMain Financial in 2021.
National Billing Partners was acquired by National Medical Billing Services in 2022.
Cartavi was acquired by DocuSign in 2013.
These exits show that OCA has produced liquidity across enterprise software, healthcare, fintech and consumer technology rather than depending on one exceptional investment.
They still do not establish fund-level IRR. A manager can have many acquisitions while some failed investments offset successful exits. Investors need cost basis, ownership percentage, gross MOIC and net fund-level results to judge actual performance.
The exit list is nevertheless a valuable external diligence dimension because it demonstrates repeated portfolio-company M&A over more than a decade.
2025-2026 PORTFOLIO LIQUIDITY: EBLU, AMOPPORTUNITIES, SPOTHERO AND LIVLY
Recent activity shows that OCA's portfolio remains active rather than consisting primarily of legacy companies.
eBlu Solutions was acquired by Knipper Health in July 2025.
AMOpportunities entered a financial acquisition transaction with AIM Equity Partners in March 2025.
Uber announced an agreement to acquire parking platform SpotHero in February 2026, giving another mature OCA portfolio company a potential strategic exit.
Third-party venture databases also report Livly as acquired by Bilt in September 2026.
These transactions are important for 2026 SEO freshness because they show contemporary liquidity events, not merely historical successes from the 2010s.
However, transaction value and OCA's realized proceeds are generally not publicly disclosed. FilingDossier should therefore describe them as portfolio-company exits rather than claiming specific fund returns.
OCIENT: A CHICAGO DEEP-TECH CASE STUDY
Ocient is one of the best examples of OCA's strategy moving beyond conventional SaaS.
The Chicago-based company develops database and analytics infrastructure designed for extremely large datasets. OCA invested from Series B and continues to list Ocient as a portfolio company.
The company raised an additional $42 million Series B extension in 2025 alongside investors including Allstate Strategic Ventures and others.
Jim Dugan is publicly connected to Ocient at the board/director level in corporate records.
This relationship illustrates OCA's hands-on model. The firm is not merely a passive LP-style investor in another venture fund; its partners can take governance roles in portfolio companies.
Ocient also illustrates the capital intensity of deep enterprise infrastructure. Database systems competing in hyperscale analytics can require significant R&D spending and long enterprise sales cycles.
A follow-on vehicle such as Roadrunner could theoretically be useful when portfolio winners require large amounts of expansion capital, although public filings do not establish that Roadrunner II specifically holds Ocient.
GRAYMATTER ROBOTICS, HII AND PHYSICAL AI
GrayMatter Robotics adds another distinctive current dimension.
The company applies AI and robotics to complex industrial manufacturing tasks. In April 2026, HII announced collaboration with GrayMatter Robotics to integrate physical AI into manned and unmanned shipbuilding.
This is important because it places an OCA-backed company inside the broader trend toward AI-enabled manufacturing and defense industrial modernization.
Physical AI companies face very different risks from software businesses. Hardware deployment, industrial safety, integration, manufacturing reliability and long customer procurement cycles can all affect growth.
At the same time, industrial automation has substantial structural demand due to labor shortages and the desire to move manufacturing capacity closer to domestic markets.
OCA's exposure to GrayMatter gives its portfolio diversification away from pure software while preserving the firm's broader technology thesis.
VERISIM LIFE AND FDA/NCTR RESEARCH
VeriSIM Life is another example of OCA's expansion into AI-enabled healthcare.
In June 2026, VeriSIM announced a research collaboration with the FDA's National Center for Toxicological Research to advance mechanistic AI for drug development.
The company uses computational modeling and AI to improve predictions of how drugs may perform before expensive human trials.
For OCA, this represents exposure to a field where technology and life sciences increasingly overlap.
Drug-development software can potentially reduce time and cost, but healthcare AI faces validation and regulatory hurdles that typical enterprise software does not.
The FDA collaboration does not mean the regulator endorses VeriSIM's commercial products or OCA's investment. It does, however, provide a meaningful external signal that the technology is being evaluated in serious scientific settings.
AMPLIFIED SCIENCES AND CANCER DIAGNOSTICS
OCA also backs Amplified Sciences, a precision diagnostics company focused on earlier cancer detection.
In June 2026, the American Gastroenterological Association's GI Opportunity Fund backed Amplified Sciences' work around pancreatic cyst care.
Pancreatic cancer is particularly difficult because early detection remains challenging, making improved diagnostics potentially valuable.
But diagnostics investing carries clinical-validation, reimbursement and regulatory risk.
A test can show promising scientific results yet fail to achieve broad adoption if payers do not reimburse it or if clinicians do not integrate it into standard care.
This is another example of why OCA's digital-health and biotech portfolio cannot be evaluated using the same metrics as SaaS. Product-market fit alone is not enough; clinical evidence and reimbursement matter.
FUNDS INVESTING IN OTHER FUNDS: DECIENS, KRAKEN VENTURES AND THE FINTECH FUND
OCA's portfolio page also lists investments in other venture organizations, including Deciens, Kraken Ventures and The Fintech Fund.
These fund investments broaden the manager's exposure and can provide access to specialist ecosystems.
Deciens specializes in early-stage fintech.
Kraken Ventures invests around crypto and financial infrastructure.
The Fintech Fund focuses on early-stage financial technology.
This creates potential strategic value because OCA can share deal flow and participate indirectly in sectors where another manager has deeper specialization.
But fund-of-fund-style exposure introduces fee layering. Investors in an OCA vehicle can potentially bear OCA-level economics while underlying external venture funds charge their own management fees and carried interest.
The magnitude of this exposure and whether Roadrunner II participates in outside funds should therefore be disclosed in current portfolio reports.
PORTFOLIO CONSTRUCTION AND THE $1M-$3M CHECK MODEL
OCA states that its typical initial investment is approximately $1 million to $3 million with follow-on capacity.
This is large enough to obtain meaningful ownership in Seed and Series A rounds but small enough to syndicate with other venture investors.
The manager says it both leads and follows financing rounds.
Syndication can be valuable because no one fund needs to provide all required capital, and co-investors can contribute different networks and expertise.
It can also reduce ownership. If a successful company raises increasingly large rounds, OCA must invest additional capital simply to maintain its percentage.
Follow-on reserves are therefore a critical venture-fund management decision.
Reserve too little and winners become diluted.
Reserve too much and unused capital reduces early portfolio diversification.
OCA's creation of Growth, Opportunity and Roadrunner vehicles suggests one possible way of adding capital outside a flagship fund, but investors should understand whether follow-on economics differ among vehicles and whether all LPs receive equal access.
ALLOCATION CONFLICTS BETWEEN FLAGSHIP, GROWTH AND ROADRUNNER FUNDS
The existence of multiple active OCA funds creates allocation questions.
Suppose an OCA Ventures IV portfolio company raises a new round.
The investment might fit Ventures IV as a follow-on.
It might also fit the Growth Fund.
It might potentially fit a Roadrunner vehicle.
Those vehicles can have different investors and economics.
The adviser therefore needs a clear allocation policy determining which fund receives how much of an opportunity.
A manager may allocate based on mandate, remaining reserves, concentration limits, stage or investor eligibility.
But these rules should be written and consistently applied.
SEC registration increases the importance of formal conflict disclosure because OCA Ventures owes fiduciary duties to the pooled vehicles it manages.
Prospective Roadrunner II investors should review the ADV brochure and fund documents for allocation policies among OCA Ventures IV, Growth Fund, Roadrunner and any co-investment vehicles.
FORM ADV FUND DATA: A MORE COMPLETE VIEW OF OCA'S SCALE
Current private-fund data derived from OCA's 2026 Form ADV provides a more useful view of the platform than Form D alone.
Representative gross asset values include:
OCA Ventures IV: approximately $103.1 million OCA Ventures III: approximately $92.2 million OCA Roadrunner: approximately $43.9 million OCA Ventures Growth Fund: approximately $29 million
The adviser's overall regulatory AUM is approximately $316.4 million.
These numbers reconcile reasonably with an established multi-fund early-stage platform.
They also show why Roadrunner II's $10.54 million raise should not be interpreted as the entire OCA organization.
The latest Form ADV reports seven client accounts, suggesting the manager's business is concentrated in a relatively small number of pooled funds rather than hundreds of separately managed retail clients.
That is consistent with the firm's website and venture-capital structure.
SERVICE PROVIDERS: CARTA, COHNREZNICK AND SILICON VALLEY BANK
OCA Ventures IV provides unusually useful public service-provider evidence.
Current Form ADV-derived fund records identify Carta as administrator, CohnReznick as auditor and Silicon Valley Bank as custodian.
The fund is reported as receiving an annual audit and preparing financial statements under GAAP.
This is meaningful because venture assets are privately valued and operational controls matter.
Carta is widely used for venture fund administration and capitalization-table infrastructure.
CohnReznick is a large accounting and advisory firm with a significant private-funds practice.
Silicon Valley Bank has long served venture funds and technology companies and now operates as a division of First Citizens following its 2023 failure and acquisition.
That historical change is worth mentioning carefully: the 2023 SVB bank failure created disruption across the venture ecosystem, but the current Silicon Valley Bank business operates under First Citizens. A service-provider listing using "Silicon Valley Bank" therefore does not mean assets remain with the failed pre-2023 legal institution.
Public records do not establish that Roadrunner II uses exactly the same administrator, auditor and custodian as Ventures IV. Investors should verify the Roadrunner II service providers directly.
PORTFOLIO VALUATION AND WHY 0% "INDEPENDENTLY VALUED" NEEDS CONTEXT
Form ADV-derived data for OCA Ventures IV reports 0% of assets as independently valued.
This sounds alarming if misunderstood, but it is common in venture capital because portfolio investments are private securities whose fair values are determined under the manager's valuation policy and then reviewed as part of financial-statement audits rather than continuously marked by an external pricing vendor.
That does not make valuation unimportant.
Private-company marks can materially affect fund NAV, carried interest and fundraising narratives.
A portfolio company's last preferred-share round may value the enterprise much higher than what common shares could obtain in a secondary sale.
Down rounds can force large markdowns after years of stable marks.
Investors should therefore distinguish independent price determination from independent audit.
OCA Ventures IV is reported as audited annually, which provides external testing of the financial statements, but an auditor does not choose every portfolio mark independently from the manager.
Roadrunner II investors should review OCA's valuation policy, especially if the fund holds concentrated stakes in later-stage companies.
VENTURE MARKET RISK: THE DIFFERENCE BETWEEN COMPANY SUCCESS AND FUND RETURN
OCA has an attractive public exit list, but venture returns are highly skewed.
A small number of companies often produce most of a fund's value.
Many investments fail completely or return less than invested capital.
This means that counting "125 companies funded" is not enough to judge performance.
The critical metrics are:
Gross IRR Net IRR TVPI DPI RVPI Loss ratio Top-five contribution to total gains Realized versus unrealized value Ownership dilution Entry valuation Follow-on reserves
The latest Form ADV does not publicly disclose these metrics.
Institutional LPs should request them for every major vintage, particularly Ventures III and Ventures IV, because those funds are mature enough to provide meaningful evidence about the current team's track record.
Roadrunner II's investment quality should be evaluated in the context of those predecessor funds rather than only OCA's historical exits dating back 10-20 years.
SMALL FUND ADVANTAGE AND SMALL FUND RISK
Roadrunner II's $10.54 million size creates an interesting trade-off.
A small fund can generate strong multiples from relatively modest exits because it does not need billion-dollar outcomes to return the vehicle.
If a $10 million fund owns a meaningful position in one company acquired for several hundred million dollars, the impact can be substantial.
But small funds can also be highly concentrated.
If Roadrunner II owns only a handful of companies or follow-on positions, one failure can materially affect total returns.
The 36-investor structure may also create relatively concentrated LP ownership.
A small fund has less capacity to reserve capital across many financing rounds and may be more exposed to dilution if portfolio companies require large additional raises.
Whether Roadrunner II is risky or strategically efficient therefore depends heavily on the number and maturity of its underlying investments.
MIDWEST ADVANTAGE AND GEOGRAPHIC DIVERSIFICATION
OCA's Chicago base is one of the clearest differentiators from Silicon Valley venture firms.
The Midwest has major universities, healthcare systems, insurance companies, industrial employers and financial institutions but historically received a smaller share of national venture capital.
This can create less competitive entry valuations.
OCA's portfolio shows repeated investment in Chicago and nearby Midwest companies, including SpotHero, Snapsheet, Ocient, LogicGate and other firms.
The team's regional network can help source founders before coastal funds become involved.
At the same time, OCA invests nationally.
The portfolio includes businesses in San Francisco, Los Angeles, New York, Boston and other technology markets.
This hybrid model allows OCA to maintain a differentiated home-market network without becoming geographically captive.
The risk is that national deals expose OCA to the same high valuations and intense investor competition experienced by larger venture funds.
KEY-PERSON AND GENERATIONAL TRANSITION RISK
Jim Dugan remains central to OCA.
He signs current Form D filings, leads the public brand and serves on portfolio-company boards.
At the same time, OCA now has a substantially deeper team than a single-founder vehicle.
Bob Saunders, Nick Schoewe and Kevin McQuillan are general partners, while the platform includes principals, vice presidents, finance staff, operating partners and venture partners.
Peter Ianello and John Dugan retain founder-level roles but are positioned as Chairman and Chairman Emeritus respectively, showing that some generational transition has already occurred.
Investors should still review the fund's key-person clause.
Important questions include whether Jim Dugan is formally named as a key person, which partners sit on the investment committee, how many votes are needed for an investment and what happens if one senior partner leaves.
This matters especially for Roadrunner II if the vehicle is concentrated in follow-on positions where partner-specific company relationships can influence outcomes.
REGULATORY AND NEGATIVE-EVIDENCE REVIEW
OCA Ventures' current SEC registration under CRD 161160 and SEC file 801-136135 provides a clear adviser-level regulatory identity.
Current Form ADV-derived summaries report no Item 11 disciplinary disclosures.
The reviewed primary and institutional sources did not surface a prominent SEC fraud or enforcement action against OCA Ventures or Jim Dugan.
That statement should remain narrow. It does not establish that no examination matter, employment dispute, portfolio-company lawsuit or commercial disagreement has ever occurred.
The principal observable risks are investment and organizational rather than disciplinary.
OCA invests in early-stage businesses with high failure rates.
It runs multiple funds with potential allocation conflicts.
Private valuations require judgment.
The newest Roadrunner vehicle has limited public transparency regarding its actual underlying assets.
These issues deserve more attention than generic speculation about whether the manager exists.
ENTITY CONFUSION: OCA VENTURES VERSUS OTHER "OCA" FUNDS
The letters OCA create serious search confusion.
SEC databases contain numerous unrelated funds whose names begin with OCA, including OCA Trident, OCA VenBio, OCA VHF, OCA VOF and other investment vehicles based in New York or the Cayman Islands.
Those are not automatically related to Chicago-based OCA Ventures.
The correct identity chain for this article is:
OCA Roadrunner II, LLC CIK 0002140673 20 N Wacker Drive, Suite 4200, Chicago James Dugan OCA Ventures, LLC CRD 161160 SEC 801-136135 ocaventures.com
This distinction is essential for Google.
A raw SEC search for "OCA" returns many vehicles belonging to completely different managers. FilingDossier should consistently use "OCA Ventures" rather than simply "OCA" in headings, internal links and metadata.
Likewise, Roadrunner II should not be confused with unrelated Roadrunner-branded venture or private-equity funds.
FINAL ASSESSMENT
OCA Roadrunner II, LLC has a strong and independently traceable identity. Its July 6, 2026 Form D reports a fully subscribed $10.54 million offering, 36 investors and a first sale on June 25, 2026. Jim Dugan is directly identified in the filing, and the fund uses the same 20 N Wacker Drive Chicago headquarters as OCA Ventures.
The manager itself has substantial operating history. OCA traces its origins to the late 1990s and the entrepreneurial network surrounding O'Connor & Associates. Its current portfolio spans more than 125 companies across enterprise software, fintech, digital health, AI and consumer technology, and its public exit history includes acquisitions by Google, IBM, Nasdaq, Ally Financial, Raymond James, DocuSign, OneMain Financial and other strategic buyers.
The regulatory profile strengthened materially in 2026. OCA Ventures LLC became SEC registered under CRD 161160 / SEC 801-136135 and reports approximately $316.4 million of regulatory AUM across seven pooled accounts. Current private-fund data shows OCA Ventures IV at approximately $103.1 million, Ventures III at approximately $92.2 million, the first Roadrunner vehicle at approximately $43.9 million and the Growth Fund at approximately $29 million.
Operational evidence is also credible. OCA Ventures IV is publicly associated with Carta as administrator, CohnReznick as auditor and Silicon Valley Bank as custodian, with annual GAAP financial-statement audits. Those relationships should be reconfirmed for Roadrunner II rather than assumed.
Recent portfolio activity demonstrates continuing relevance. OCA-backed companies have participated in 2025-2026 financings, acquisitions and strategic partnerships involving eBlu Solutions, AMOpportunities, SpotHero, GrayMatter Robotics, VeriSIM Life, Amplified Sciences and Ocient.
The principal unresolved issue is Roadrunner II's mandate. Public Form D confirms a closed $10.54 million pool but does not disclose the underlying portfolio. Investors should determine whether Roadrunner II is a follow-on opportunity fund, concentrated continuation vehicle, co-investment pool or broader venture strategy.
The most important diligence items are therefore the portfolio schedule, relationship to OCA Ventures IV and the Growth Fund, allocation policy, entry valuations, current marks, fee and carry structure, realized performance, service providers, follow-on rights and expected liquidity.
OCA Ventures has a well-established institutional and entrepreneurial identity. Roadrunner II's legitimacy as an operating private vehicle is strongly supported. Its investment attractiveness cannot be determined from Form D alone.
SEC SNAPSHOT
Issuer: OCA Roadrunner II, LLC CIK: 0002140673 Entity Type: Limited Liability Company Jurisdiction: Delaware Year Organized: 2026 Principal Address: 20 N Wacker Drive, Suite 4200, Chicago, IL 60606 Phone: 312-443-5028 SEC Industry: Pooled Investment Fund Fund Classification: Venture / Private Investment Vehicle Initial Form D Filing Date: July 6, 2026 Date of First Sale: June 25, 2026 Offering Duration: Not More Than One Year Offering Exemption: Regulation D Rule 506(b) Investment Company Act Exclusions Checked: Section 3(c)(1) and Section 3(c)(7) Security Type: Pooled Investment Fund Interests Total Offering Amount: $10,540,000 Total Amount Sold: $10,540,000 Remaining Amount: $0 Offering Status: Fully Sold at Filing Investors: 36 Regulatory Minimum Investment: $0 Non-Accredited Investors: None reported Sales Compensation Recipient: None reported Sales Commissions: $0 / none reported Finder's Fees: $0 / none reported Key Related Person: James Dugan Form D Signatory: James Dugan Signatory Role: Managing Member of the Managing Member Manager Brand: OCA Ventures Investment Adviser: OCA Ventures, LLC Investment Adviser CRD: 161160 Current SEC Adviser File: 801-136135 SEC Registration Effective: April 30, 2026 Current Adviser Headquarters: 20 N Wacker Drive, Chicago, IL 60606 Current Regulatory AUM: Approximately $316,423,456 Current Reported Client Accounts: 7 Discretionary AUM: Approximately 100% Current Public Employee / Adviser Count: Approximately 15 Current ADV Disciplinary Disclosures: None identified in reviewed public Form ADV summaries Founding Managing Partner: Jim Dugan Chairman / Co-Founder: Peter Ianello Chairman Emeritus / Co-Founder: John Dugan General Partners: Bob Saunders; Nick Schoewe; Kevin McQuillan Principal: Steve Shein Investment Team Includes: Manu Sharma; Michelle Cao Firm Historical Origin: Late 1990s / O'Connor & Associates entrepreneurial network Official Website: ocaventures.com Primary Geography: United States and Canada Primary Stages: Seed; Series A; Selected Series B Typical Initial Check: Approximately $1 million-$3 million Follow-On Capacity: Yes Primary Sectors: Enterprise Software; Consumer Software; Fintech; Digital Health; Healthcare Technology; AI Official Company Count: 125+ companies funded Official Jobs-Created Metric: 2,000+ Official Follow-On Capital Metric: $1 billion+ Representative Current Portfolio: Ocient; Snapsheet; SpotHero; LogicGate; The Mom Project; GrayMatter Robotics; mPulse; VeriSIM Life; Placer.ai; Osso VR; Amplified Sciences; Clearstep; VyncaCare; North and other technology/healthcare companies Representative Historical Exits: Tenor / Google; Cleversafe / IBM; Solovis / Nasdaq; TradeKing / Ally Financial; SumRidge Partners / Raymond James; Cartavi / DocuSign; Trim / OneMain Financial; Healthfinch / Health Catalyst; Health iPass / Sphere; SwipeSense / SC Johnson Recent 2025-2026 Exit / Transaction Examples: eBlu Solutions / Knipper Health; AMOpportunities / AIM Equity Partners; SpotHero / Uber announced transaction; Livly / Bilt reported transaction Representative Related Fund: OCA Ventures IV, L.P. OCA Ventures IV CIK: 0001775751 OCA Ventures IV First Form D: May 14, 2019 OCA Ventures IV Reported Gross Assets: Approximately $103.1 million OCA Ventures IV Beneficial Owners: 44 OCA Ventures IV Stated Minimum: $1 million OCA Ventures IV Annual Audit: Yes OCA Ventures IV Accounting: GAAP OCA Ventures III Gross Assets: Approximately $92.2 million OCA Roadrunner Gross Assets: Approximately $43.9 million OCA Ventures Growth Fund Gross Assets: Approximately $29 million Historical OCA II Opportunity Fund Assets: Approximately $13.4 million OCA Ventures IV Administrator: Carta in current Form ADV-derived records OCA Ventures IV Auditor: CohnReznick OCA Ventures IV Custodian: Silicon Valley Bank in current regulatory-derived records Public Complete Roadrunner II Portfolio: Not disclosed Roadrunner II Current NAV Beyond Initial Raise: Not publicly disclosed Roadrunner II Gross / Net IRR: Not publicly disclosed Roadrunner II TVPI / DPI: Not publicly disclosed Roadrunner II Management Fee / Carry: Requires current fund documents Roadrunner II Administrator / Auditor / Custodian: Requires vehicle-specific confirmation Primary Risks: Early-stage venture failure, concentrated small-fund exposure, private valuation uncertainty, follow-on dilution, multi-fund allocation conflicts, illiquidity, technology valuation compression, healthcare regulatory risk, AI sector concentration and key-person dependence Entity Confusion Warning: Do not confuse Chicago-based OCA Ventures with unrelated SEC vehicles using OCA prefixes such as OCA Trident, OCA venBio, OCA VHF or other New York/Cayman structures. Duplicate Brand Rule: OCA Ventures III, OCA Ventures IV, OCA Ventures Growth Fund, OCA Roadrunner, OCA Roadrunner II, OCA II Opportunity Fund and related Chicago-based OCA Ventures vehicles should be treated as the same OCA Ventures brand and should not be generated again as separate FilingDossier brands unless specifically requested. Independent Conclusion: OCA Roadrunner II is a fully subscribed 2026 private investment vehicle tied directly to a long-established Chicago venture manager. The fund's SEC filing, OCA Ventures' new federal investment-adviser registration, predecessor fund history, recognizable portfolio, realized exits and institutional service-provider relationships strongly support its identity and continuity. The principal unresolved issue is Roadrunner II's specific portfolio and economics, not whether the manager or vehicle genuinely exists.
Independent research summary based on SEC Form D, Form ADV-derived investment-adviser records, OCA Ventures first-party portfolio and team materials, private-fund regulatory data and independent transaction reporting. Form D and SEC adviser registration are regulatory disclosures and do not constitute SEC approval, validation of private valuations or a guarantee of investment performance.