Shrug
Shrug last closed a fund in October 2024 — 25 months ago.
It raises on several lines, too close together for one rhythm. No month is guessed; the filing will say.
Mid-cycle This firm is far enough into its last fund to be investing, and too early to be raising again.
Still filing with the SEC: June 2026. That is an amendment to an existing offering, not a new fund - which is what an evergreen structure looks like in this data.
- Funds on file
- 9
- Single-deal SPVs
- 5
- Capital raised
- $195M
- Latest close
- October 2024
- Based in
- CA, FL, NJ, WA
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| Shrug Opportunities & Natural Capital LP | October 2024 | $39M | 0002040779 ↗ |
| Shrug Squared, L.P. | August 2024 | $50M | 0002027968 ↗ |
| SHRUG OPPORTUNITIES II - Feastables, LP | February 2024 | $10M | 0002010799 ↗ |
| SHRUG OPPORTUNITIES I, LP | July 2023 | $586,000 | 0001985553 ↗ |
| Shrug Opportunities II, LP | June 2023 | $317,752 | 0001981180 ↗ |
| Shrug IV, L.P. | November 2021 | $50M | 0001893913 ↗ |
| Shrug III, LP | February 2021 | $21M | 0001852404 ↗ |
| Shrug III, L.P. | October 2020 | $15M | 0001826890 ↗ |
| Shrug II, L.P. | — | $10M | 0001759598 ↗ |
| SP, a series of Shrug Opportunities, LP | October 2025 | $3M | 0002085674 ↗ |
| NI Fund, a Series of Shrug Opportunities, LP | February 2025 | $929,587 | 0002054577 ↗ |
| K Fund, a Series of Shrug Opportunities, LP | January 2025 | $766,666 | 0002041519 ↗ |
| W Labs, a series of Shrug Opportunities, LP | March 2024 | $282,500 | 0002013439 ↗ |
| Shrug Opportunities SPV I, LP | April 2021 | $5M | 0001934561 ↗ |
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
Niv Dror
What Shrug invests in
- Typical fund
- $15M median, pre-seed / seed scale
- Website
- shrug.vc
Service providers
- Fund administrator
- AngelList (Belltower) (11 funds), North Mountain (1 fund)
- Auditor
- Frank Rimerman (3 funds), Deloitte (1 fund)
From Form ADV filed by SHRUG, LLC CRD 313323 ↗, latest filing April 2026, covering 12 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.