DFX Intelligence
Private Equity Intelligence
Firms, funds, people, portfolio companies and transactions from sworn filings and cited announcements, kept as a graph with a date and a source on every edge. Reported gross assets are never fund size, regulatory AUM is never dry powder, and a deal value prints only when someone disclosed it.
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Firms / N•••• S•• C••••••• L••
N•••• S•• C••••••• L••
Venture firm with private equity activity · probableLower middle marketWayzata, MNn•••••••••.comSEC registered investment adviser
N•••• Sky Capital is a pioneer in impact investing. Our impact private equity (secondaries) and sustainable infrastructure funds target market rate returns while making positive environmental and social impact.
Classification
- Class
- Venture firm with private equity activityprobable, confidence 70%
- Basis
- R3: 12 sworn Venture Capital Funds against 6 Private Equity Funds over 2011-2024
- Size band
- Lower middle marketdefined by: proxy: $0.04bn Private Equity Fund GAV on the Form ADV filed 2024-04-01
Classification history (1)
- Sep 13, 2026Venture firm with private equity activity (probable, 70%, cls-pe-1)R3: 12 sworn Venture Capital Funds against 6 P•••••• Equity Funds over 2011-2024
Regulatory footprint (Form ADV)
- Adviser type
- registered investment adviser
- Form ADV filings
- Dec 21, 2011 to Apr 1, 2024
- RAUM
- $852Mregulatory assets under management of the adviser; not dry powder, not a fund size
- PE funds, latest filing
- 1
- PE fund GAV, latest filing
- $40.1Mreported gross assets (Form ADV), not fund size
- All private fund GAV
- $655Mevery private fund type, latest filing
- 2024 PE fund GAV
- $40.1Msum over funds typed Private Equity Fund with a 2024 or later as-of date
- PE share of funds, lifetime
- 24%
- Fund type mix
- filed 2024-04-01, latest gav Other Private Fund $185M, Private Equity Fund $40.1M, Venture Capital Fund $429M, latest counts Other Private Fund 7, Private Equity Fund 1, Venture Capital Fund 7, lifetime distinct Other Private Fund 7, Private Equity Fund 6, Venture Capital Fund 12
- Employees
- 20
- Headquarters
- Wayzata, MN
- Office address
- 701 LAKE STREET EAST, SUITE 350, Wayzata, MN, 55391
- Business phone
- 612-435-7150
Stated criteria beside observed behaviour
5 observed deals
Stated by the firm
- Sectors
- infrastructure, environmental services, food beverage, agriculture
- Geography
- not stated or not yet read
- Revenue
- not stated or not yet read
- EBITDA
- not stated or not yet read
- Enterprise value
- not stated or not yet read
- Equity check
- not stated or not yet read
- Control
- not stated or not yet read
- Thesis
- We seek to create positive social and environmental impact while generating strong financial returns by investing in companies, private equity funds and infrastructure projects that make the world a better place.
Observed from deals on record
- roles
- unknown 3, platform 2
- period
- to 2023-08-08, from 2020-11-09, undated holdings 1, dated observations 8
- window
- last 2023-08-08, first 2020-11-09
- control
- control 2, unknown 3
- companies
- 5
- geography
- investments
- 5
- seller kinds
- transactions
- 4
- cadence by year
- 2020 other deals 2, 2023 platforms 2
- platform add on
- add ons 0, platforms 2, add ons per platform unknown
- sector known for
- 3
- disclosed value usd
- n 0
- sector distribution
- count 2, share 0.4, value energy, examples California Renewable Natural Gas Project, Renewable Natural Gas Project in, count 1, share 0.2, value industrial services, examples Natural Systems Utilities
- holding period years
- n 0
- repeat counterparties
- subsector distribution
- count 2, share 0.4, value energy, examples California Renewable Natural Gas Project, Renewable Natural Gas Project in, count 1, share 0.2, value waste treatment, examples Natural Systems Utilities
5 companies on the graph (4 transactions); most in energy (2); 2 platforms and 0 add-ons; observed 2020 to 2023
Funds
8 on record
| Fund | Vehicle | Vintage | Reported gross assets (Form ADV), not fund size | GAV by year | Form D sold | Lifecycle |
|---|---|---|---|---|---|---|
| C•••• G••••• F••• V••• L• | Growth fund | 2025 Form D first sale | unknown | no reporting | $235M | Fundraising |
| N•••• S•• P•••••• E••••• P••••••• V• L••• ADV: P•••••• Equity Fund | Fund of funds | 2014 first reported on Form ADV | $40.1M as of Apr 1, 2024 | no Form D | Harvest | |
| N•••• S•• L•• F••• I••• L••• ADV: P•••••• Equity Fund | Fund of funds | unknown | $29.8M as of Mar 30, 2022 | no Form D | Wound down | |
| N•••• S•• L•• F••• I•• L••• ADV: P•••••• Equity Fund | Fund of funds | unknown | $23.1M as of Mar 30, 2022 | no Form D | Wound down | |
| N•••• S•• L•• F••• I•• L••• ADV: P•••••• Equity Fund | Fund of funds | unknown | $1.6M as of Mar 24, 2020 | no Form D | Wound down | |
| N•••• S•• D••••• F••• I•• L••• ADV: P•••••• Equity Fund | buyout or unlabelled | unknown | $361,549 as of Mar 19, 2021 | no Form D | Wound down | |
| N•••• S•• D••••• F••• I•• L••• ADV: P•••••• Equity Fund | buyout or unlabelled | unknown | $72,240 as of Jul 25, 2023 | no Form D | Wound down | |
| N•••• S•• T•••• S••••••••• I••••••••• F••• | buyout or unlabelled | unknown | unknown | no reporting | no Form D | Unknown |
Team
26 current, 0 former
Managing partner (4)
- D•••• Z••••• · Co-CEO · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- S•••• B••••••••• · CEO · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- S•••• L•••••• B••••••••• · Managing Member · since Nov 1, 2007 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- S•••• L•••••• B••••••••• · Co-CEO · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Partner (6)
- A••• B•••••••• · Managing D•••••or · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- A••• B•••••••• · Managing D•••••or · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- D••••• A••• Z••••• · Managing D•••••or · since Sep 1, 2023 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- T•• J•••••••• · Managing D•••••or and Co-Head · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- T•• J•••••••• · Managing D•••••or · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- T•• J•••••••• · Managing D•••••or · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Principal (2)
- P•••••• K•• · Principal · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Y••• L••• F•• · Principal · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Vice president (2)
- B••• F•• · Vice President · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- N••• C••••• · Vice President · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Analyst (2)
- A•••••• D••• · Analyst · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- S••••• W•••••••• · Analyst · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Operating partner (1)
- D••• F••••••••• · Operating Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Investor relations (1)
- G••••••• S• P•••••• · Managing D•••••or and Head of Investor Relations · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Platform (6)
- A••••• C•••••••• W••• · Chief Financial Officer · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- A••••• C•••••••• W••• · Cfo · since Mar 1, 2021 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- G••••••• S• P•••••• · Chief Compliance Officer · since Dec 1, 2010 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- J•• C••• · Controller · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- J•••• L•••• · Operations Coordinator · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- R•••••• P••••• · D•••••or – Impact Reporting & Communications · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Other (2)
- J•••••• I••••• · Senior Advisor · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- S••••• d•• D•••••• · Senior Advisor – Europe · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Portfolio
5 relationships, 2 platforms, 0 add-ons
Transactions
5 on record
| Date | Type | Target | This firm’s role | Source |
|---|---|---|---|---|
| Nov 14, 2023 | Exit to a strategic buyer | N•••••• S•••••• U•••••••• | Seller (confirmed) | n•••••••••.com |
| Aug 8, 2023 | Platform acquisition | B••• H••• V••••••• I• | Sponsor (confirmed) | n•••••••••.com |
| Jun 12, 2023 | Platform acquisition | A•••• | Sponsor (confirmed) | n•••••••••.com |
| Nov 10, 2020 | Growth investment | C••••••••• R•••••••• N•••••• G•• P•••••• | Sponsor (confirmed) | n•••••••••.com |
| Nov 9, 2020 | Growth investment | R•••••••• N•••••• G•• P•••••• i• | Sponsor (confirmed) | n•••••••••.com |
Placement agents, lenders, advisers and co-investors
0 relationships
No counterparty collected yet. These are counted from transactions that name both this firm and the other party, and from placement agents on this firm’s funds.
LP commitments
0 disclosed
No LP commitment collected yet. An LP edge needs a public disclosure with a quote, such as a pension plan’s report or an announcement naming the LP.
Events
38 most recent
- May 18, 2026May 18, 2026 N•••• Sky Completes Final Investment From C•••• G••••• VI READ MORE
- Jul 1, 2025July 1, 2025 N•••• Sky Announces Close of S••••••••• I••••••••• Fund IV READ MORE
- Mar 17, 2025March 17, 2025 N•••• Sky Celebrates 25 Years of Investment Leadership and Impact READ MORE
- Sep 30, 2024September 30, 2024 N•••• Sky Names D•••• Z••••• Co-CEO READ MORE
- Jan 23, 2024January 23, 2024 N•••• Sky Announces Successful Exit of Investment In Leading Liquid... READ MORE
- Nov 14, 2023N•••• Sky Exits Investment in Leading Water Reclamation Provider
- Nov 14, 2023November 14, 2023 N•••• Sky Exits Investment in Leading Water Reclamation Provider READ MORE
- Aug 8, 2023N•••• Sky Completes Secondary Transaction in Partnership with B••• H•••...
- Aug 8, 2023August 8, 2023 N•••• Sky Completes Secondary Transaction in Partnership with B••• H•••... READ MORE
- Jun 12, 2023N•••• Sky Partners with A•••• to Create a Bespoke Secondary...Platform investmentFactA••••Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- Jun 12, 2023June 12, 2023 N•••• Sky Partners with A•••• to Create a Bespoke Secondary... READ MORE
- May 18, 2023May 18, 2023 N•••• Sky Investments Receive Global Water Awards READ MORE
- Mar 3, 2023March 3, 2023 N•••• Sky Exits Investment in New Jersey Solar Portfolio READ MORE
- Mar 1, 2023March 1, 2023 N•••• Sky Exits Investment in Central New York Electric Transmission... READ MORE
- Dec 21, 2022December 21, 2022 N•••• Sky receives Environmental Finance’s Impact Award for Impact P••••••/Investment... READ MORE
- Aug 4, 2022August 4, 2022 Latest Investment to Boost Economic Development in Low-Income Communities READ MORE
- Jul 5, 2022July 5, 2022 Erika Gucfa Joins N•••• Sky Business Development Team READ MORE
- Jun 30, 2022June 30, 2022 N•••• Sky Awarded ESG Investment Initiative of the Year by... READ MORE
- Jun 16, 2022June 16, 2022 N•••• Sky Completes Final Secondaries Investment From C•••• G••••• V READ MORE
- May 2, 2022May 2, 2022 N•••• Sky Completes Two New Investments for T•••• S••••••••• I•••••••••... READ MORE
- Feb 18, 2022February 18, 2022 N•••• Sky’s Four S••••••••• I••••••••• Investment Exits Spotlighted in ImpactAlpha READ MORE
- Feb 7, 2022February 7, 2022 N•••• Sky Capital exits four sustainable infrastructure investments totaling nearly... READ MORE
- Jan 12, 2022January 12, 2022 N•••• Sky Capital Closes T•••• S••••••••• I••••••••• Fund with $200... READ MORE
- Jan 6, 2022January 6, 2022 N•••• Sky’s T•• J•••••••• Promoted to Managing D•••••or READ MORE
- Nov 2, 2021November 2, 2021 N••• C••••• Joins N•••• Sky Capital’s Impact Secondaries Team READ MORE
- Sep 1, 2021September 1, 2021 N•••• Sky’s S•••• B••••••••• Discusses the S••••••••• Investment Landscape with... READ MORE
- Nov 10, 2020N•••• Sky Capital Invests in C••••••••• R•••••••• N•••••• G•• P••••••...
- Nov 10, 2020November 10, 2020 N•••• Sky Capital Invests in C••••••••• R•••••••• N•••••• G•• P••••••... READ MORE
- Nov 9, 2020N•••• Sky Capital Invests in R•••••••• N•••••• G•• P•••••• i•...
- Nov 9, 2020November 9, 2020 N•••• Sky Capital Invests in R•••••••• N•••••• G•• P•••••• i•... READ MORE
- Apr 29, 2020April 29, 2020 ImpactAssets Releases 7th Annual IA 50 Impact Investment Fund Showcase READ MORE
- Jun 3, 2019June 3, 2019 N•••• Sky Capital Hires Long-Time Advisor as Managing D•••••or focused... READ MORE
- Feb 27, 2018February 27, 2018 ImpactAssets Releases 7th Annual IA 50 Impact Investment Fund Showcase READ MORE
- Jun 26, 2017June 26, 2017 US Solar Secures P•••••• Financing Facility from Alliance Fund II READ MORE
- May 8, 2017May 8, 2017 N•••• Sky Closes on Over $300 million for Two Impact... READ MORE
- Dec 2, 2015December 2, 2015 Alliance Fund II Provides $20 Million Debt Facility for OneRoof... READ MORE
- Nov 24, 2015November 24, 2015 Alliance Fund II Provides $25 Million Capital Facility for Cypress... READ MORE
- Dec 21, 2011N•••• S•• C••••••• L•• first filed Form ADV in the extract (IA)
Across the graphs
N•••• S•• C••••••• L•• is the same institution as 3 records in Venture Capital, Independent Sponsors and RIA and Wealth.
Venture Capital1Independent Sponsors1RIA and Wealth1
Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.
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