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••• E••••• L••
N••• E••••• L••
N••• Equity is a growth-oriented private equity firm investing in founder-led software and fintech companies driving innovation and long-term value.
Classification
- Class
- Buyout firmconfirmed, confidence 85%
- Basis
- R6: 6 of 7 distinct vehicles are sworn Private Equity Funds; 6 reported gross assets on a filing in 2022 or later
- Size band
- Lower middle marketdefined by: proxy: $0.47bn Private Equity Fund GAV on the Form ADV filed 2024-08-15
Classification history (1)
- Sep 13, 2026Buyout firm (confirmed, 85%, cls-pe-1)R6: 6 of 7 distinct vehicles are sworn Private Equity Funds; 6 reported gross assets on a filing in 2022 or later
Regulatory footprint (Form ADV)
- Adviser type
- registered investment adviser
- Form ADV filings
- Nov 19, 2021 to Aug 15, 2024
- RAUM
- $575Mregulatory assets under management of the adviser; not dry powder, not a fund size
- PE funds, latest filing
- 6
- PE fund GAV, latest filing
- $470Mreported gross assets (Form ADV), not fund size
- All private fund GAV
- $575Mevery private fund type, latest filing
- 2024 PE fund GAV
- $470Msum over funds typed Private Equity Fund with a 2024 or later as-of date
- PE share of funds, lifetime
- 86%
- Fund type mix
- filed 2024-08-15, latest gav Real Estate Fund $105M, Private Equity Fund $470M, latest counts Real Estate Fund 1, Private Equity Fund 6, lifetime distinct Real Estate Fund 1, Private Equity Fund 6
- Employees
- 10
- Headquarters
- San Francisco, CA
- Office address
- 49 MORAGA AVENUE, San Francisco, CA, 94129
- Business phone
- 415-295-4636
Stated criteria beside observed behaviour
16 observed deals
Stated by the firm
- Sectors
- software, technology
- 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
- Additionally, our targeted focus extends to our portfolio management philosophy, where we seek to maintain a concentrated strategy of 7-9 companies per fund.
Observed from deals on record
- roles
- add on 3, unknown 13, platform 2
- period
- to 2022-04-26, from 2021-12-14, undated holdings 13, dated observations 10
- window
- last 2022-04-26, first 2021-12-14
- control
- control 5, unknown 13
- companies
- 16
- geography
- count 1, share 0.062, value NJ
- investments
- 18
- seller kinds
- founder 5
- transactions
- 5
- cadence by year
- 2021 other deals 1, 2022 add ons 3, platforms 1
- platform add on
- add ons 3, platforms 2, add ons per platform unknown
- sector known for
- 3
- disclosed value usd
- n 0
- sector distribution
- count 3, share 0.188, value software, examples Leap, Choice, JobProgress
- holding period years
- n 0
- repeat counterparties
- subsector distribution
- count 3, share 0.188, value software, examples Leap, Choice, JobProgress
16 companies on the graph (5 transactions); most in software (3); 2 platforms and 3 add-ons; observed 2021 to 2022
Funds
7 on record
| Fund | Vehicle | Vintage | Reported gross assets (Form ADV), not fund size | GAV by year | Form D sold | Lifecycle |
|---|---|---|---|---|---|---|
| N••• E••••• F••• I• L• ADV: Private Equity Fund | buyout or unlabelled | 2022 first reported on Form ADV | $211M as of Aug 15, 2024 | no Form D | Unknown | |
| N••• H• I••••••• A••••••••• L• ADV: Private Equity Fund | buyout or unlabelled | 2022 first reported on Form ADV | $131M as of Aug 15, 2024 | no Form D | Early deployment | |
| N••• J••• I••••••• A••••••••• L• ADV: Private Equity Fund | buyout or unlabelled | 2022 first reported on Form ADV | $47.8M as of Aug 15, 2024 | no Form D | Early deployment | |
| N••• E••••• F••• I••• L• ADV: Private Equity Fund | Feeder or parallel | 2022 first reported on Form ADV | $36.1M as of Aug 15, 2024 | no Form D | Early deployment | |
| N••• E••••• F••• I••• L• ADV: Private Equity Fund | Feeder or parallel | 2022 first reported on Form ADV | $2.2M as of Aug 15, 2024 | no Form D | Unknown | |
| N••• A• S••• L• ADV: Real Estate Fund | buyout or unlabelled | unknown | $105M as of Aug 15, 2024 | no Form D | Active deployment | |
| N••• C••••• S••• L• ADV: Private Equity Fund | buyout or unlabelled | unknown | $42.6M as of Aug 15, 2024 | no Form D | Unknown |
Team
19 current, 0 former
Managing partner (4)
- V••• B••••••••• · Managing Partner · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- V••• B••••••••• · Founder and Managing Partner · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- V••• B••••••••• · Founder and Managing Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- V••••••• B••••••••• · Founder, Managing Partner, And Chief Compliance Officer · since Feb 1, 2020 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
Partner (2)
- J••• M•••••• · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- P•••• S•••••••• · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Principal (2)
- B•••• S•••• · Principal · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- J••• M•••••• · a Principal · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
Vice president (2)
- C••••• C••••••• · Senior Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- J•••• C•••••• · Vice President · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Associate (2)
- B•••••• M••••• · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- N••••••• B•••• · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Analyst (1)
- D•••••• V•••••• · Analyst · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Operating partner (3)
- C•••• B••••• · Technology Operating Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- T•••• Z••••• · Operating Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- T•••• B•••••• · Operating Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Platform (3)
- F••••• T•••• M•••• · CFO/COO/CCO · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- F••••• T•••• M•••• · Chief Financial Officer And Chief Operating Officer · since Jul 1, 2024 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- I•••• L•••• · Executive Assistant & Office M•••••• · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Portfolio
18 relationships, 2 platforms, 3 add-ons
Transactions
5 on record
| Date | Type | Target | This firm’s role | Source |
|---|---|---|---|---|
| Apr 26, 2022 | Platform acquisition | C••••• | Sponsor (confirmed) | prnewswire.com |
| Mar 10, 2022 | Add-on acquisition | J••••••••• | Sponsor (confirmed) | prnewswire.com |
| Mar 10, 2022 | Add-on acquisition | J••••••••• | Sponsor (confirmed) | prnewswire.com |
| Mar 10, 2022 | Add-on acquisition | J••••••••• | Sponsor (confirmed) | prnewswire.com |
| Dec 14, 2021 | Majority investment | L••• | Sponsor (confirmed) | prnewswire.com |
Placement agents, lenders, advisers and co-investors
4 relationships
Placement agents (1)
- C•••• C•••••• L•• 4 shared · strong · last Jan 1, 2022
Legal advisers (3)
- M•••••• • M••••• L•• 1 shared · one time · last Apr 26, 2022
- K••••••• • E•••• L•• 1 shared · one time · last Dec 14, 2021
- W•••••• F••• • G•••••••• L•• 1 shared · one time · last Dec 14, 2021
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
16 most recent
- Mar 31, 2026N••• E••••• L••: Private Equity Funds on Form ADV 6 (2024 extract) -> 10 (roster 2026-09-01)
- Dec 16, 2025Announcement December 16, 2025 C•••• A•, a Leading AI Transportation M•••••ment System for Railroad Operators and Shippers, Receives Strategic Growth Investment from N••• Equity Read more
- Oct 27, 2025News October 27, 2025 N••• Equity Further Strengthens Founder-First Focused Team Through Additions to Investment and Operating Bench Read more
- Aug 13, 2025Press: Business Wire August 13, 2025 F••••••• G•••, a Leading Commissioning and Operational Readiness Software Provider, Receives Growth Investment from N••• Equity Read more
- May 14, 2025Press: Business Wire May 14, 2025 N••• Equity Closes Oversubscribed $390 Million Fund II to Partner with Visionary Founders of High-Growth Vertical SaaS Companies Read more
- Sep 17, 2024Press: Business Wire September 17, 2024 E••• M•••••• Acquires TZA, Bringing Unmatched Visibility to Warehouse and Labor-Intensive Operations Read more
- May 21, 2024Press: Business Wire May 21, 2024 E••• M•••••• Secures $31 Million Growth Investment from N••• Equity to Enhance Operational Efficiency for Warehouses and Manufacturers Read more
- May 9, 2023Press: Business Wire May 09, 2023 Storewise Receives Majority Growth Investment from N••• Equity Read more
- Apr 26, 2022Press: PR NewswirePlatform investmentFactC•••••Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- Apr 26, 2022Press: PR Newswire April 26, 2022 C••••• Brings on N••• Equity as Majority I••••••• and Acquires Direct Payment Consultants Read more
- Apr 19, 2022Press: PR Newswire April 19, 2022 H••••••• Ticketing Receives $75 Million Growth Investment from N••• Equity to Further Modernize Event Ticketing Read more
- Mar 10, 2022Press: PR Newswire March 10, 2022 L••• Acquires J••••••••• Expanding Platform Offering to Meet Customer Needs Read more
- Dec 20, 2021Press: Technical.ly December 20, 2021 Why Columbia-based L••• sought a majority investment from N••• Equity Read more
- Dec 14, 2021Press: PR NewswirePlatform investmentFactL•••Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- Dec 14, 2021Press: PR Newswire December 14, 2021 N••• Equity Announces Majority Growth Investment in L•••, a Leading Sales Enablement Platform for Home Contractors Read more
- Nov 19, 2021N••• E••••• L•• first filed Form ADV in the extract (ERA)
Across the graphs
N••• E••••• L•• is the same institution as 4 records in Venture Capital, Independent Sponsors, RIA and Wealth and Real Estate Funds.
Venture Capital1Independent Sponsors1RIA and Wealth1Real Estate Funds1
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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