DFX Intelligence
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A•••• C•••••• M••••••••• L••
Buyout firmClassification confirmedLower middle marketSEC registered investment adviser· Washington, DCa•••••••••.com
••• Locked
As of · identity and classification; each section below carries its own date
- Regulatory AUM
- $342M
- PE fund assets
- $342M
- PE funds
- 6
- Investments held
- 10 of 17
- Deals, last 12 months
- 0
Form ADV
Form ADV
Form ADV
DFX transaction tape
DFX transaction tape
As of · identity and classification; each section below carries its own date
Why this matters
- Sectors technology,media_telecom
- Graphs 4
- Lenders 1
Classification
How this organization is classified, and on what basisBuyout firm · 2 in historyShowHide
- Class
- Buyout firmconfirmed, confidence 85%
- Basis
- R6: 12 of 12 distinct vehicles are sworn Private Equity Funds; 11 reported gross assets on a filing in 2022 or later
- Size band
- Lower middle marketdefined by: proxy: $0.34bn Private Equity Fund GAV on the Form ADV filed 2026-03-25
Classification history (2)
- Sep 23, 2026Buyout firm (confirmed, 85%, cls-pe-2)R6: 12 of 12 distinct vehicles are sworn Private Equity Funds; 11 reported gross assets on a filing in 2022 or later
- Sep 13, 2026Buyout firm (confirmed, 85%, cls-pe-1)R6: 11 of 11 distinct vehicles are sworn Private Equity Funds; 10 reported gross assets on a filing in 2022 or later
Regulatory footprint (Form ADV)
- Adviser type
- registered investment adviser
- Form ADV filings
- Jun 24, 2016 to Mar 25, 2026
- RAUM
- $342Mregulatory assets under management of the adviser; not dry powder, not a fund size
- PE funds, latest filing
- 6
- PE fund GAV, latest filing
- $342Mreported gross assets (Form ADV), not fund size
- All private fund GAV
- $342Mevery private fund type, latest filing
- 2024 PE fund GAV
- $515Msum over funds typed Private Equity Fund with a 2024 or later as-of date
- PE share of funds, lifetime
- 100%
- Fund type mix
- filed 2026-03-25, latest gav Private Equity Fund $342M, latest counts Private Equity Fund 6, lifetime distinct Private Equity Fund 12
- Employees
- 14
- Headquarters
- Washington, DC
- Office address
- ••• Locked
- Business phone
- ••• Locked
Stated criteria beside observed behaviour
11 observed deals
Stated by the firm
- Sectors
- technology, media telecom
- Geography
- not stated or not yet read
- Revenue
- not stated or not yet read
- EBITDA
- not stated or not yet read
- Enterprise value
- up to $500M
- Equity check
- not stated or not yet read
- Control
- not stated or not yet read
- Thesis
- ••• Locked
Observed from deals on record
- roles
- add on 8, unknown 4, platform 5
- period
- to 2023-05-02, from 2016-07-07, undated holdings 5, dated observations 23
- window
- last 2023-05-02, first 2016-07-07
- control
- control 11, unknown 6
- companies
- 11
- geography
- investments
- 17
- seller kinds
- transactions
- 11
- cadence by year
- 2016 platforms 1, 2017 add ons 3, 2020 add ons 3, platforms 2, 2021 add ons 1, 2023 add ons 1
- platform add on
- add ons 8, platforms 5, add ons per platform 1.6
- sector known for
- 9
- disclosed value usd
- n 0
- sector distribution
- count 8, share 0.727, value tech enabled services, examples DartPoints, Venyu, Nscale, ClearSky Technologies, count 1, share 0.091, value software, examples Searchlight Cyber
- holding period years
- n 4, median 0.6
- repeat counterparties
- subsector distribution
- count 6, share 0.545, value data processing hosting, examples DartPoints, Venyu, Nscale, Alpheus Communications, count 2, share 0.182, value it services msp, examples ClearSky Technologies, Communication Technology Services, count 1, share 0.091, value software, examples Searchlight Cyber
11 companies on the graph (11 transactions); most in tech enabled services (8); 5 platforms and 8 add-ons; median observed hold 0.6 years (n=4); observed 2016 to 2023
Funds
13 on record
| Fund | Vehicle | Vintage | Reported gross assets (Form ADV), not fund size | GAV by year | Form D sold | Lifecycle |
|---|---|---|---|---|---|---|
| A•••• B••••••• H••••••• ADV: Private Equity Fund | buyout or unlabelled | 2022 first reported on Form ADV | $2.1M as of Mar 25, 2026 | no Form D | Mature | |
| A•••• K••••••••• C••••••• • I• ADV: Private Equity Fund | Co-investment vehicle | 2022 first reported on Form ADV | $265,766 as of Mar 25, 2026 | no Form D | Harvest | |
| A•••• K••••••••• H••••••• ADV: Private Equity Fund | buyout or unlabelled | 2022 first reported on Form ADV | $147,193 as of Mar 25, 2026 | no Form D | Harvest | |
| A•••• G••••• P••••••• L• ADV: Private Equity Fund | buyout or unlabelled | 2021 first reported on Form ADV | $116M as of Mar 25, 2026 | no Form D | Active deployment | |
| A•••• P••••••• I• L• ADV: Private Equity Fund | buyout or unlabelled | 2018 first reported on Form ADV | $220M as of Mar 25, 2026 | no Form D | Mature | |
| A•••• P••••••••• C•••••••• I• L•• ADV: Private Equity Fund | Co-investment vehicle | 2018 first reported on Form ADV | $13.0M as of May 9, 2024 | no Form D | Harvest | |
| W•••••••• L•••• I•••••••• L•• ADV: Private Equity Fund | buyout or unlabelled | unknown | $90.0M as of May 9, 2024 | no Form D | Harvest | |
| A••••••••• C•••••••• I• L•• ADV: Private Equity Fund | Co-investment vehicle | unknown | $53.8M as of May 9, 2024 | no Form D | Harvest | |
| A••••••••• C•••••••• I•• L•• ADV: Private Equity Fund | Co-investment vehicle | unknown | $11.4M as of May 9, 2024 | no Form D | Harvest | |
| A•••• P••••••• I• G•• L•• ADV: Private Equity Fund | buyout or unlabelled | unknown | $9.8M as of Feb 8, 2017 | no Form D | Wound down | |
| A••••••••• H•••••••• L•• ADV: Private Equity Fund | buyout or unlabelled | unknown | $5.7M as of May 9, 2024 | no Form D | Harvest | |
| A•••• T••••• H••••••• L•• ADV: Private Equity Fund | Feeder or parallel | unknown | $3.2M as of Mar 25, 2026 | no Form D | Unknown | |
| A•••• G••••• P•••••••• L••• | buyout or unlabelled | unknown | unknown | no reporting | no Form D | Lifecycle unknown |
Team
20 current, 4 former
Managing partner (6)
- K•••• L• B•••• · Co-Founder · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- M••• J•••••• · Co-Founder & Managing Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- M••• M••••• · L•••• interim CEO and Partner · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- M••• M••••• · L•••• interim CEO and Partner · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- M••• M••••• · L•••• interim CEO and Partner · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- W•••••• E• K•••••• · Co-Founder · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Partner (9)
- B•••• K••••••••• · a Partner · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- B•••• R• K••••••••• · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- B•••• R• K••••••••• · Member · since Jan 1, 2019 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- C•••• P•••••• · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- K••••••• H• J•••••• · Member · since May 1, 2013 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- M••• J•••••• · Member · since May 1, 2013 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- M•••••• M•••••• M••••• · Member · since Jul 1, 2014 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- T••• M• C•••• · Member · since Jul 1, 2014 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- W•••••• E• K•••••• · Member · since Jun 1, 2016 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
Board or advisory (1)
- K•••• L• B•••• · Trustee · since Jul 1, 1998 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
Platform (4)
- J•••• G• M••••• · Partner & Chief Financial Officer · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- J•••• G• M••••• · Chief Financial Officer, Member · since Feb 1, 2018 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- R•• K•••• · Partner & General Counsel · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- R•••• K•••• · Chief Compliance Officer, Legal Counsel, Member · since Apr 1, 2018 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
4 former (kept with end dates)
- D••••• A•••• B•••••• · M••••• O• A•••• L•••• M••••••• L•• · Jun 1, 2016 to Feb 23, 2018 Inference
- J•••• G• M••••• · M••••• O• A•••• L•••• M••••••• L•• · Jun 1, 2016 to Feb 23, 2018 Inference
- N•• S••••• G•••• · Member · Jan 1, 2020 to Mar 31, 2022 Inference
- S••••• L• C•••• · M••••• O• A•••• L•••• M••••••• L•• · Jun 1, 2016 to Feb 23, 2018 Inference
Portfolio
17 relationships, 5 platforms, 8 add-ons
Transactions
12 on record
| Date | Type | Target | This firm’s role | Source |
|---|---|---|---|---|
| May 2, 2023 | Add-on acquisition | V•••• | Sponsor (confirmed) | a•••••••••.com |
| Jan 20, 2021 | Add-on acquisition | C••••••• T••••••••• | Sponsor (derived) | a•••••••••.com |
| Oct 28, 2020 | Add-on acquisition | M•••• D••• C•••••• | Sponsor (confirmed) | a•••••••••.com |
| Oct 28, 2020 | Add-on acquisition | M•••• D••• C•••••• | Sponsor (confirmed) | a•••••••••.com |
| Oct 28, 2020 | Add-on acquisition | M•••• D••• C•••••• | Sponsor (confirmed) | a•••••••••.com |
| May 5, 2020 | Platform acquisition | D••••••••• | Sponsor (confirmed) | a•••••••••.com |
| Feb 9, 2020 | Platform acquisition | C••••••••• T••••••••• S••••••• | Sponsor (confirmed) | a•••••••••.com |
| Jan 3, 2018 | Exit to a strategic buyer | A•••••• C••••••••• | Seller (confirmed) | a•••••••••.com |
| May 30, 2017 | Add-on acquisition | A•••••• C••••••••• | Sponsor (strongly supported) | a•••••••••.com |
| May 30, 2017 | Add-on acquisition | A•••••• C••••••••• | Sponsor (strongly supported) | a•••••••••.com |
| May 30, 2017 | Add-on acquisition | A•••••• C••••••••• | Sponsor (strongly supported) | a•••••••••.com |
| Jul 7, 2016 | Platform acquisition | L•••• C••••••••• | Sponsor (confirmed) | a•••••••••.com |
Placement agents, lenders, advisers and co-investors
1 relationships
Lenders (1)
- B••••••••• C•••••• 1 shared · one time · last Jul 7, 2016
LP commitments
1 disclosed
- L•• A•••••• C••• E••••••••• R••••••••• S••••• in A•••• P••••••• I• L• $10.0M lacers.org
Events
19 most recent
- Sep 16, 2026••• Locked
- Mar 25, 2026••• Locked
- Jan 18, 2024••• Locked
- Jan 18, 2024••• Locked
- Jan 18, 2024••• Locked
- May 12, 2023••• Locked
- Mar 16, 2021••• Locked
- Mar 16, 2021••• Locked
- May 6, 2020••• Locked
- May 5, 2020••• Locked
- Feb 9, 2020••• Locked
- Feb 9, 2020••• Locked
- Jan 30, 2018••• Locked
- Jan 4, 2018••• Locked
- Jan 3, 2018
- May 30, 2017••• Locked
- Jul 7, 2016••• Locked
- Jul 7, 2016••• Locked
- Jun 24, 2016••• Locked
Across the graphs
A•••• C•••••• M••••••••• L•• is the same institution as 4 records in Venture Capital, Independent Sponsors, RIA and Wealth and Allocators.
Venture Capital1Independent Sponsors1RIA and Wealth1Allocators1
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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