Fannin PI
Fannin PI last closed a fund in December 2023 — 35 months ago. By its own rhythm, that is already past its usual gap.
Fannin PI has raised 3 times about every 27 months. The last was Fannin PI Holdings VII, LLC. That pointed to Mar 2026. It is 8 months past its own gap and has not filed a new fund.
Historically about 1 in 4 firms in this position filed within a year. The month is approximate — how often this is right.
Mid-cycle This firm is far enough into its last fund to be investing, and too early to be raising again.
- Funds on file
- 6
- Capital raised
- $44M
- Latest close
- December 2023
- Based in
- TX
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| Fannin PI Holdings VII, LLC | December 2023 | $21M | 0002005677 ↗ |
| Fannin PI Holdings VI, LLC | November 2022 | $12M | 0001956447 ↗ |
| Fannin PI Holdings V, LLC | July 2022 | $1M | 0001940444 ↗ |
| Fannin Pulmotect Holdings IV, LLC | January 2022 | $1M | 0001910924 ↗ |
| Fannin Brevitest Holdings I, LLC | December 2020 | $3M | 0001837551 ↗ |
| Fannin PI Holdings IV, LLC | June 2019 | $5M | 0001781816 ↗ |
Each row links to that vehicle’s Form D filings on EDGAR — the name, date and amount above should match what is filed there.
Named on filings
Mark Worscheh, William Riegler
What Fannin PI invests in
- Typical fund
- $5M median, pre-seed / seed scale
Service providers
- Fund administrator
- None reported — the adviser answered “no administrator” for 4 of 4 funds
- Auditor
- Not on file
From Form ADV filed by FANNIN ADVISORY, LLC CRD 311069 ↗, latest filing March 2026, covering 4 funds linked to this firm by Form D file number. Form ADV is filed once a year, so a provider may have changed since. How this is matched.
What this is. Every figure on this page comes from Form D filings with the U.S. Securities and Exchange Commission — public records, reproduced here as filed. Service providers, where shown, come from the adviser’s Form ADV and are dated.
What it is not. Single-deal SPVs, feeder vehicles and GP or employee commitment funds are listed but excluded from fund counts and capital totals: an SPV is one investment, a feeder holds the same capital as its master, and a “Principals” or “Entrepreneurs” fund closes alongside a main fund rather than being raised in its own right. Capital deployed from a family office, a corporate balance sheet or an evergreen structure never arrives as a fund close, so a firm doing that looks quiet here. Amounts are as of the last amendment and go stale. Dates are the date of first sale — a fund's first close, not its final one. Funds filed as “Indefinite” are excluded from totals rather than counted as zero, so a total is a floor.
“No recent fund” is a statement about filings. It is not a statement about whether a firm is solvent, investing, or still in business.