# EDGAR Filing Document

**Accession Number:** 0001886822
**File Stem:** 0002098336-26-000004
**Filing Date:** 2026-6
**Character Count:** 37840
**Document Hash:** 6e8c4df9cf925d99134d0657fc515885
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002098336-26-000004.hdr.sgml**: 20260630

**ACCESSION NUMBER**: 0002098336-26-000004

**CONFORMED SUBMISSION TYPE**: 1-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260630

**DATE AS OF CHANGE**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VELOCE CAP FUND 1 LP
- **CENTRAL INDEX KEY:** 0001886822
- **STANDARD INDUSTRIAL CLASSIFICATION:** SHORT-TERM BUSINESS CREDIT INSTITUTIONS [6153]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** NJ
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 1-K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 24R-00671
- **FILM NUMBER:** 261138668

**BUSINESS ADDRESS:**
- **STREET 1:** 58 MAIN ST., 2ND FLOOR
- **CITY:** HACKENSACK
- **STATE:** NJ
- **ZIP:** 07601
- **BUSINESS PHONE:** (201) 786-6300

**MAIL ADDRESS:**
- **STREET 1:** 58 MAIN ST., 2ND FLOOR
- **CITY:** HACKENSACK
- **STATE:** NJ
- **ZIP:** 07601

## Part

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 1-K**

**REGULATION A OFFERING STATEMENT**

**UNDER THE SECURITIES ACT OF 1933**

This Form 1-K is to provide an Annual Report for the fiscal year ended 12/31/2025.

Exact name of issuer as specified in the issuer's charter: VELOCE CAP FUND 1 LP

Jurisdiction of incorporation/organization: New Jersey

I.R.S. Employer Identification Number: 87-2323046

Address of Principal Executive Offices: 58 MAIN ST., 2ND FLOOR, HACKENSACK, NEW JERSEY 07601

Phone: 201-786-6300

Title of each class of securities issued pursuant to Regulation A: Debt Securities

**Summary Information Regarding Prior Offerings and Proceeds**

The following information must be provided for any Regulation A offering that has terminated or completed prior to the filing of this Form 1-K, unless such information has been previously reported in a manner permissible under Rule 257.

[X] Such information has been previously reported in a manner permissible under Rule 257. The remainder of Part I is intentionally left blank.

**PART II**

**Financial Statements** 
```
<PRE>
            VELOCE CAP FUND 1, LP
       AUDITED FINANCIAL STATEMENTS
AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2025

                                                         VELOCE CAP FUND 1, LP
                                                           TABLE OF CONTENTS
                               AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2025

                                                                                                                                Page:
Independent Auditor's Report .............................................................................................. F-1
Financial Statements:
          Balance Sheet .............................................................................................................. F-3
          Statements of Operations ............................................................................................. F-4
          Statements of Changes in Partners' Capital ................................................................. F-5
          Statements of Cash Flows ............................................................................................ F-6
Notes to Financial Statements .............................................................................................. F-7

                                             Duner and Foote
                                       Certified Public Accountants
                                          www.DunerCPA.com
 Telephone (949) 263-0030                                                                    18818 Teller Ave.
 FAX (949) 263-0037                                                                                   Suite 265
 E-Mail DerrickFoote@Dunercpa.com                                                      Irvine, California 92612
                                                 MEMBER OF
                             CALIFORNIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS

                                INDEPENDENT AUDITOR'S REPORT

To the Partners of
Veloce Cap Fund 1, LP

Opinion

We have audited the accompanying financial statements of Veloce Cap Fund 1, LP ("the Fund") (a New
Jersey limited partnership) which comprise the balance sheet as of December 31, 2025, and the related
statement of operations, changes in partners' capital, and cash flows for the period then ended and the
related notes to the financial statements.

In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of Veloce Cap Fund 1, LP. as of December 31, 2025, and the results of its operations
and its cash flows for the period then ended in accordance with accounting principles generally accepted
in the United States of America.

Basis for Opinion

We conducted our audit in accordance with auditing standards generally accepted in the United States of
America. Our responsibilities under those standards are further described in the Auditor's Responsibilities
for the Audit of the Financial Statements section of our report. We are required to be independent of
Veloce Cap Fund 1, LP and to meet our other ethical responsibilities in accordance with relevant ethical
requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.

Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation and maintenance of internal controls relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about Veloce Cap Fund 1, LP's ability to

                                                    F-1

continue as a going concern within one year after the date that the financial statements are available to be
issued.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and
therefore is not a guarantee that an audit is conducted in accordance with generally accepted auditing
standards will always detect a material misstatement when it exists.
The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override
of internal control. Misstatements, including omissions, are considered material if there is a substantial
likelihood that, individually or in the aggregate, they would influence the judgement made by a reasonable
user based on the financial statements.

In performing an audit in accordance with generally accepted auditing standards, we:

   -   Exercise professional judgement and maintain professional skepticism throughout the audit.
   -   Identify and assess the risks of material misstatement of the financial statements, whether due to
       fraud or error, and design and perform audit procedures responsive to those risks. Such procedures
       include examining, on a test basis, evidence regarding the amounts and disclosures in the financial
       statements.
   -   Obtain an understanding of internal control relevant to the audit in order to design audit procedures
       that are appropriate in the circumstances, but not the for the purpose of expressing an opinion on
       the effectiveness of Veloce Cap Fund 1, LP's internal control. Accordingly, no such opinion is
       expressed.
   -   Evaluate the appropriateness of accounting policies used and the reasonableness of significant
       accounting estimates made by management, as well as evaluate the overall presentation of the
       financial statements.
   -   Conclude whether, in our judgement, there are conditions or events, considered in the aggregate,
       that raise substantial doubt about Veloce Cap Fund 1, LP's ability to continue as a going concern
       for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control related
matters that we identified during the audit.

Duner and Foote, LLP
Certified Public Accountants
Irvine, California

February 27, 2026

                                                    F-2

                                 VELOCE CAP FUND 1, LP
                                     BALANCE SHEET
                                 AS OF DECEMBER 31, 2025

                                         ASSETS

   Cash and cash equivalents                               $      140,061
   Accounts receivable                                            136,460
   Organization costs, net                                          7,500
   Subscription receivable                                         19,750
   Trust deed notes receivable                                  6,655,000

           TOTAL ASSETS                                                     $   6,958,771

                            LIABILITIES AND PARTNERS' CAPITAL

   Management fees payable                                 $     148,373
   Performance fees payable                                      327,308
   Organization costs payable                                     25,000
   Administration fees payable                                     2,300
   Audit & tax fees payable                                       15,165

           TOTAL LIABILITIES                                                $    518,146

 PARTNERS' CAPITAL - PER ACCOMPANYING STATEMENT                                 6,440,625

           TOTAL LIABILITIES AND PARTNERS' CAPITAL                          $   6,958,771

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS
                   SEE INDEPENDENT AUDITOR'S REPORT

                                           F-3

                                  VELOCE CAP FUND 1, LP
                                STATEMENT OF OPERATIONS
                           FOR THE YEAR ENDED DECEMBER 31, 2025

REVENUE
 Interest income                                              $   1,252,629

         TOTAL REVENUE                                                        $   1,252,629

OPERATING EXPENSES
 Performance fee                                                   217,971
 Management fee                                                    104,464
 Audit and tax expenses                                             29,028
 Broker fees                                                        20,750
 Administrative expenses                                             8,531

         TOTAL OPERATING EXPENSES                                                  380,744

NET INCREASE IN PARTNERS' CAPITAL FROM OPERATIONS                             $    871,885

     THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS
                        SEE INDEPENDENT AUDITOR'S REPORT

                                           F-4

                      VELOCE CAP FUND 1, LP
            STATEMENT OF CHANGES IN PARTNERS' CAPITAL
               FOR THE YEAR ENDED DECEMBER 31, 2025

                                                        PARTNERS'
                                                         CAPITAL

   DECEMBER 31, 2024                                $       3,605,011

   Net increase from operations                              871,885

   Partner contributions                                    2,075,000

   Partner withdrawals                                      (111,271)

   DECEMBER 31, 2025                                $       6,440,625

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS
                   SEE INDEPENDENT AUDITOR'S REPORT

                                  F-5

                                           VELOCE CAP FUND 1, LP
                                         STATEMENT OF CASH FLOWS
                                    FOR THE YEAR ENDED DECEMBER 31, 2025

CASH FLOWS FROM OPERATING ACTIVITIES
 Net increase in partners' capital from operations                                     $     871,885
 Adjustments to reconcile net increase to net cash provided by operating activities:
    Amortization of organization costs                                                         5,000
    Change in operating assets and liabilities:
        Accounts receivable                                                                  (57,210)
        Management fee payable                                                               104,464
        Performance fee payable                                                              217,971
        Other payables                                                                           465

          NET CASH PROVIDED BY OPERATIONS                                                                $   1,142,575

CASH FLOWS FROM INVESTING ACTIVITIES
 Trust deed notes receivable - funded                                                      (3,475,000)
 Trust deed notes receivable - principal payments collected                                   500,000

          NET CASH USED IN INVESTING                                                                         (2,975,000)

CASH FLOWS FROM FINANCING ACTIVITIES
 Partner contributions received                                                            2,055,250
 Partner withdrawals disbursed                                                              (111,271)

          NET CASH PROVIDED BY FINANCING                                                                     1,943,979

NET INCREASE IN CASH AND CASH EQUIVALENTS                                                                      111,554

CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR                                                                   28,507

CASH AND CASH EQUIVALENTS - END OF YEAR                                                                  $     140,061

       THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS
                         SEE INDEPENDENT AUDITOR'S REPORT

                                                              F- 6

                            VELOCE CAP FUND 1, LP
                        NOTES TO FINANCIAL STATEMENTS
                               DECEMBER 31, 2025

NOTE 1 - ORGANIZATION

    Veloce Cap Fund 1, LP (the "Fund") was formed on August 23, 2021 and is organized and
    licensed as a New Jersey limited partnership upon the filing of the Articles of Organization
    with the Secretary of State of New Jersey. The fund is managed by Veloce Consulting, Inc,
    a New Jersey corporation. Veloce Consulting, Inc. acts as the general partner of the fund.

    The fund will begin offering units for investment upon qualification of the offering by the
    Securities and Exchange Commission. The maximum offering will be $75,000,000 in
    accordance with Tier II of Regulation A as set forth under the Securities Act of 1933. The
    Offering Circular via Form 1-A pursuant to Regulation A under the Securities Act of 1933,
    was approved by the Securities & Exchange Commission on January 24, 2022.

    The Fund will use the proceeds from this offering to make, purchase, originate, fund,
    acquire and/or otherwise sell loans secured by interests in real or personal property located
    throughout the United States. The value and balance of loans or properties will not be
    guaranteed by any governmental agency or private entity but may be guaranteed by
    affiliates and associates of the underlying borrowers. Sources of income to the Fund will
    come from the interest and fees charged to borrowers on the Loans, as well as from the sale
    of any properties acquired by the Fund for rehabilitation and/or resale. All loans will be
    owned by the Fund and all revenue received from the loans and investments in properties
    shall be distributed into the Fund, less applicable fees to the General Partner.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

    Method of Accounting - The Fund maintains its accounting records under the accrual
    method of accounting in conformity with accounting principles generally accepted in the
    United States of America.

    Recent Accounting Pronouncements - Consistent with the treatment for emerging
    growth companies under the Jumpstart Our Business Startups (JOBS) Act, the Company
    has elected to delay the implementation of new accounting standards to the extent such
    standards provide for delayed implementation by non-public business entities.

    Cash and Cash Equivalents - The Fund considers all short-term, highly liquid
    unrestricted investments with original maturities of three months or less when purchased to
    be cash equivalents. As of December 31, 2025, cash and cash equivalents totaled
    $140,061.

                                             F-7

                            VELOCE CAP FUND 1, LP
                        NOTES TO FINANCIAL STATEMENTS
                               DECEMBER 31, 2025

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

    Fair Value of Financial Instruments - Financial Accounting Standards Board
    Accounting Standards Codification ("FASB ASC") Topic 825, Financial Instruments,
    requires disclosure of fair value information about financial instruments. Management
    believes the fair value of financial instruments approximates their carrying amounts. The
    carrying value of cash and cash equivalents and certain other liabilities approximate their
    estimated fair values due to the short-term nature of these instruments.

    Concentrations of Credit Risk - Financial instruments which potentially subject the Fund
    to concentrations of credit risk consist primarily of cash deposits and trust deed notes
    receivables. The Fund has not experienced any losses on its bank deposit accounts, and
    believes it is not exposed to any significant credit risk on its accounts. Concentrations of
    credit risk with respect to trust deed notes receivable can exist due to the Fund's focus on
    the state of New Jersey, which increases the Fund's exposure to adverse local real estate,
    economic and market conditions and other risk factors, including natural disasters and acts
    of terrorism.

    Management Estimates - The preparation of financial statements in conformity with
    accounting principles generally accepted in the United States of America requires
    management to make certain estimates and assumptions that affect the reported amounts of
    assets, liabilities, revenues, expenses, and related disclosures of contingent assets and
    liabilities. On an ongoing basis, the Fund evaluates its estimates, including those related to
    the allowance for losses on trust deed notes receivables and contingencies. The Fund bases
    its estimates on historical experience and on various assumptions, the results of which
    form the basis for making judgments about the carrying values of assets and liabilities that
    may not be readily apparent from other sources. Actual results could differ from those
    estimates.

    Trust Deed Notes Receivable - This account consists of investments in trust deed notes
    receivables that are secured by 1st trust deeds. Generally, loans require principal and
    interest payments. Trust deed notes which the Fund has the intent and ability to hold for
    the foreseeable future or to maturity generally are stated at their outstanding unpaid
    principal balance with interest thereon being accrued as earned. Trust deed notes
    receivable comprise the only class of financing receivables within the Fund's lending
    portfolio. As a result, no further segmentation of the loan portfolio is presented.

    Loan carrying amounts are reduced to a loan's future cash flows discounted at the its
    effective interest rate when the probably ultimate recovery of the loan is less than the
    loan's carrying amount by a non-insignificant amount. Loans become collateral dependent
    when the present value of cash flows of the mortgage loan falls below the estimated fair
    value of the related collateral. Collateral dependent loans are valued at the estimated fair
    value of the related collateral.

                                              F-8

                            VELOCE CAP FUND 1, LP
                        NOTES TO FINANCIAL STATEMENTS
                               DECEMBER 31, 2025

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

    Trust Deed Notes Receivable (Continued) - Interest is accrued daily on the principal of
    the loans. If events and or changes in circumstance cause management to have serious
    doubts about the further collectability of the contractual payments, a loan may be
    categorized as impaired and interest is no longer accrued. Any subsequent payments on
    impaired loans are applied to reduce the outstanding loan balances including accrued
    interest and advances. The Fund did not consider any loans to be impaired during 2025.

    Credit Losses - The Fund estimates an allowance for credit losses on trust deed notes
    receivable in accordance with Financial Accounting Standards Board Accounting
    Standards Codification Topic 326, Financial Instruments - Credit Losses, which requires
    the measurement of expected credit losses over the contractual life of the financial assets.
    Trust deed notes receivable are carried at amortized cost, net of any allowance for credit
    losses.

    The Fund's loans are secured by first priority liens on real property and are evaluated on a
    collective or individual basis when similar risk characteristics exist. In estimating expected
    credit losses, the Fund considers relevant information including historical loss experience,
    the credit quality of borrowers, loan-to-value ratios, payment history, collateral values, and
    current and reasonably supportable economic conditions.

    Loans are evaluated individually when they no longer share similar risk characteristics
    with the portfolio. For loans that are determined to be collateral dependent, expected credit
    losses are measured based on the difference between the amortized cost of the loan and the
    fair value of the underlying collateral, less estimated costs to sell, when applicable.

    The allowance for credit losses is adjusted through a provision for credit losses charged to
    earnings. Management evaluates the adequacy of the allowance on a periodic basis. As of
    December 31, 2025, management determined that no allowance for credit losses was
    necessary based on its assessment of the collateral securing the loans, borrower
    performance, and other relevant factors. As of December 31, 2025, the allowance for credit
    losses was $0.

    Risks and Uncertainties - Trust deed notes receivables are subject to risks and
    uncertainties due to real estate market volatility, interest rate volatility, and credit risk.
    Due to the level of such risks and uncertainties, it is at least reasonably possible that
    changes in the values of the trust deed notes receivables will occur in the near term, and
    that such changes could materially affect the amounts reported in the balance sheet,
    statement of income and changes in partners' equity.

                                              F-9

                             VELOCE CAP FUND 1, LP
                         NOTES TO FINANCIAL STATEMENTS
                                DECEMBER 31, 2025

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

    Interest Income - Interest income on loans is accrued by the effective interest method.
    Generally, interest payments are due monthly, on the first day of each month. Interest is
    generally prorated to the first day of the month following the closing of the loan escrow.
    Interest income due and not received as of the balance sheet date is accrued.

    Income Taxes - The Fund is a limited partnership for federal and state income tax
    purposes. Under the laws pertaining to income taxation of limited partnerships, no income
    tax is paid by the Fund as an entity. Each individual partner reports on their income tax
    returns their distributive share of the Fund's income, gains, losses, deductions and credits,
    whether or not any actual distribution is made to such partner during a taxable year. There
    has not been a provision for income taxes accrued during the Fund's first year of operation.

    Fair Value Measurement - FASB ASC Topic 820, Fair Value Measurements and
    Disclosures ("ASC 820") defines fair value, establishes a framework for measuring fair
    value, and expands disclosures about fair value measurements. This standard provides a
    consistent definition of fair value which is the price that would be received to sell an asset
    or paid to transfer a liability in an orderly transaction between market participants at the
    measurement date. The hierarchy established under ASC 820 gives the highest priority to
    unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and
    the lowest priority to unobservable inputs (Level 3). The three levels of the fair value
    hierarchy under ASC 820 and its applicability to the Fund's mortgage loans receivable are
    described below:

    Level 1 - Pricing inputs are quoted prices available in active markets for identical assets or
    liabilities as of the reporting date.

    Level 2 - Pricing inputs are quoted prices for similar assets or liabilities, or inputs that are
    observable, either directly or indirectly, for substantially the full term through
    corroboration with observable market data. Level 2 includes assets and liabilities valued at
    quoted prices adjusted for legal or contractual restrictions specific to these assets and
    liabilities.

    Level 3 - Pricing inputs are unobservable for the asset or liability; inputs that reflect the
    reporting entity's assumptions that the market participants would use in pricing the asset or
    liability. Level 3 includes assets or liabilities that are supported by little or no market
    activity.

    Fair Value Measurement - The Fund does not record loans at fair value on a recurring
    basis but uses fair value measurements of collateral security in the determination of its
    allowance for credit losses. The fair value for impaired secured loans is determined using
    the sales comparison, income and other commonly used valuation approaches.

                                              F-10

                            VELOCE CAP FUND 1, LP
                        NOTES TO FINANCIAL STATEMENTS
                               DECEMBER 31, 2025

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

    For loans in which a specific reserve is established based on the fair value of the collateral,
    the Fund records the loan as nonrecurring Level 2 if the fair value of the collateral is based
    on an observable market price or a current appraised value. If an appraised value is not
    available or the fair value of the collateral is considered impaired below the appraised
    value and there is no observable market price, the Fund records the loan as nonrecurring
    Level 3. As there were no impaired secured loans at December 31, 2025, the Fund did not
    have any Level 1, Level 2, or Level 3 assets at December 31, 2025.

NOTE 3 - FUND PROVISIONS

    The Fund is a New Jersey limited partnership. The rights, duties and powers of the
    partners of the Fund are governed by the offering circular. The following description of the
    Fund's offering circular provides only selected information. Limited Partners should refer
    to the Fund's offering circular for a more complete description of the various provisions.
    The Manager is in complete control of the Fund business, subject to the voting rights of the
    partners on specified matters. The Manager has the power and authority to act for and bind
    the Fund.

    Profits and Losses - Profits and losses accrued during any calendar month are allocated to
    the partners in proportion to their capital accounts maintained throughout the month.
    Investors who become partners of the Fund other than on the first day of a calendar month
    shall be allocated a proportionate share of the Fund's profits or losses for that month
    reflecting the days during the month that the investor was a partner.

    Partner Withdrawal - Limited Partners who wish to withdraw before they have been
    Limited Partner for 24 months ("Early Withdrawal") can only withdraw if the Limited
    Partner produces evidence of undue hardship, and the General Partner permits early
    withdrawal, in its sole and absolute discretion. Acceptability of a Limited Partner's
    hardship will be determined by the General Partner, in its sole and absolute discretion.
    Limited Partners who request early withdrawal will be subject to a penalty of 20% of the
    Limited Partner's withdrawal proceeds. The General Partner may, at its sole discretion,
    waive an early withdrawal.

    After the limited partner has been invested for 24 months, the limited partner can request to
    withdraw from the fund and must give at least 90 days' written notice to the General
    Partner. The fund will use its best efforts to return capital subject to, among other things,
    the Fund's cash flow, financial condition, and prospective investments in assets.

                                             F-11

                            VELOCE CAP FUND 1, LP
                        NOTES TO FINANCIAL STATEMENTS
                               DECEMBER 31, 2025

NOTE 3 - FUND PROVISIONS (CONTINUED)

    Cash Distributions - Net Profits shall be distributed to the Limited Partners on an annual
    basis as follows: 80% of the Net Profits of the Fund shall be distributed to the Limited
    Partners on a pro-rata basis, and the remaining 20% of the Net Profits of the Fund shall be
    allocated to the General Partner. Net Profits means the Fund's gross income less (1) the
    Fund's operating expenses (including payment of outstanding debt (if any), administrative
    costs, legal expenses, and accounting fees); (2) an allocation of income for a loan loss
    allowance; and (3) payment of the Asset Management Fee and any other fees to the
    General Partner. All Cash distributions will be made on an annual basis, in arrears, and
    distributions to Limited Partners shall be prorated as applicable for the amount of time that
    a Limited Partner was a partner of the Company during such accounting period.

    Subscription Receivable - Subscription receivable represents capital contributions
    committed by partners but not yet funded as of the balance sheet date.

NOTE 4 - TRUST DEED NOTES RECEIVABLE

    This account generally consists of investments secured by either mortgages or deeds of
    trusts secured by real property located primarily in the State of New Jersey and typically
    carrying interest rates of 24% to 36%. The Fund specializes in originating, acquiring,
    managing, funding or selling loans.

    The term of the loan will vary. Loans generally have a term between one month and thirty-
    six months. The Fund may allow six to twelve-month extensions which from time to time
    require a fee paid by borrowers and then remitted to the General Partner.

    Scheduled maturity dates of secured loans as of December 31, 2025 are as follows:

                                  2026              $   6,655,000
                                  2027                          -
                                  2028                          -
                                  2029                          -
                                  2030                          -

                                                    $   6,655,000

                                             F-12

                           VELOCE CAP FUND 1, LP
                       NOTES TO FINANCIAL STATEMENTS
                              DECEMBER 31, 2025

NOTE 5 - RELATED PARTY TRANSACTIONS

    Veloce Consulting, Inc. ("the Manager"), a New Jersey Corporation, is the Manager and
    General Partner of the Fund. Mr. Sulfaraz is the president and CEO of Veloce Consulting,
    Inc. The following is a summary of significant items of compensation that Veloce
    Consulting, Inc. realizes from the Fund:

         Asset Management Fee - The Manager shall earn an asset management fee equal to
         2% of the net assets under management on an annual basis calculated and payable
         monthly. The Fund's management fees amounted to $104,464 for the year ended
         December 31, 2025.

         Loan Origination Fees - Such fees average between 3% to 10% but could be as low
         as 1% or as high as 15% depending on market conditions. These fees are collected
         by the Manager on behalf of the fund. These fees are payable to the Manager.

         Purchase of Existing Loans - When the Fund purchases an existing loan from a
         third party, the Manager will be paid a fee comparable to a loan origination fee.

         Loan Extension Fees and Modification Fees - Where the Manager, in its best
         judgment, enters into an agreement with the borrower to extend the maturity date of
         a loan or modify the terms on a loan, the Manager is paid a fee by the borrower.
         Such fees are typically between 1% and 3% of the original loan amount but could be
         higher or lower depending on market rates and conditions. These fees collected by
         the Fund are collected on the Manager's behalf. Occasionally, at the sole discretion
         of the Manager, maturity date of a loan may be extended without the imposition of
         extension fees.

         Loan Processing and Documentation Fees - Loan processing, documentation and
         other similar fees are collected from the borrower and payable to the Manager at
         prevailing rates.

         Real Estate Commission Fees - The Manager may earn real estate commission to
         list and sell real estate that the Fund has acquired through foreclosure. The Manager
         may generally earn up to 6% for such a sale.

         Loan Servicing - The Manager has the option to service the loans or the fund or
         appoint a third-party servicer. Fees charged for loan servicing will be charged on a
         monthly basis in the amount of one-twelfth of one-half of one percent.

         Net Profits - 20% of the Net Profits of the fund shall be allocated to the Manager.
         The Fund records these in their financial statements as performance fees.
         Performance fees payable include amounts earned in current and prior periods.

                                           F-13

                           VELOCE CAP FUND 1, LP
                       NOTES TO FINANCIAL STATEMENTS
                              DECEMBER 31, 2025

NOTE 6 - SUBSEQUENT EVENTS

    The Fund has evaluated subsequent events through February 27, 2026, the date these
    financial statements were issued. Based on this evaluation, the Fund has determined that
    no events or transactions have occurred subsequent to the balance sheet date that would
    require adjustment to, or disclosure in, the financial statements.

                                          F-14

</PRE>
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<PRE>
SIGNATURES

Pursuant to the requirements of Regulation A, the issuer has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized.

VELOCE CAP FUND 1 LP
By: Veloce Consulting, Inc., its General Partner

By: /s/ Surfaraz Dinani
Name: Surfaraz Dinani
Title: President and Chief Executive Officer of Veloce Consulting, Inc., General Partner of Veloce Cap Fund 1 LP
Date: _______________________________
</PRE>
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## Form 1-K Filing Summary

### Filer Information

**Issuer CIK:** 0001886822

**Issuer CCC:** XXXXXXXX

**Is filer a shell company?:** No

**Is this filing by a successor company?:** No

### Submission Contact Information

**Is this a LIVE or TEST Filing?:** LIVE

**Period:** 12-31-2025

### Item 1: Issuer Information (Tab 1 Notification)

**Type of Report:** Annual Report

**Fiscal Year End:** 12-31-2025

**Exact Name of Issuer:** VELOCE CAP FUND 1 LP

**CIK:** 0001886822

**Jurisdiction of Incorporation:** NJ

**IRS Number:** 00-0000000

**Address:** 58 MAIN ST., 2ND FLOOR, HACKENSACK, NJ 07601

**Issuer Phone Number:** 201-786-6300

**Title of each class of securities issued pursuant to Regulation A:** Share

### Item 2: Ongoing Reporting Requirements

**Is the issuer relying on the relief provided by Rule 257(d) for this filing?** Yes