DFX Intelligence

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P••••••• C••••••• L••

Buyout firmClassification confirmedLower middle marketSEC registered investment adviser· San Francisco, CAp•••••••••.com

Buyout firm, based in San Francisco, CA.

Composed from this firm's filed classification and location. It has no published description on record.

As of 2026-09-23 · identity and classification; each section below carries its own date

Regulatory AUM: $532M
PE fund assets: $532M
PE funds: 14
Investments held: Not established
Deals, last 12 months: Not established

Funds and vehicles Team (4)Transactions

As of 2026-09-23 · identity and classification; each section below carries its own date

Why this matters

This firm publishes its own acquisition criteria, so a fit test does not have to be inferred from past deals.
Sectors technologyGeography Global
Filed a Form D 11 months ago, which usually means a vehicle is in market.
2025-10-02
Latest Form D Oct 2, 2025
Also held on 4 other DFX graphs, so its behaviour can be read from more than one side.
Graphs 4

Classification

How this organization is classified, and on what basisBuyout firm · 2 in historyShow

Class: Buyout firmconfirmed, confidence 85%
Basis: R6: 20 of 39 distinct vehicles are sworn Private Equity Funds; 14 reported gross assets on a filing in 2022 or later
Size band: Lower middle marketdefined by: proxy: $0.53bn Private Equity Fund GAV on the Form ADV filed 2026-04-30

Classification history (2)

Sep 23, 2026
Buyout firm (confirmed, 85%, cls-pe-2)
R6: 20 of 39 distinct vehicles are sworn Private Equity Funds; 14 reported gross assets on a filing in 2022 or later
Sep 13, 2026
Candidate (candidate, 40%, cls-pe-1)
R7: admitted on 13 Private Equity Fund(s) among 32 vehicles; no rule fired

Regulatory footprint (Form ADV)

Adviser type: registered investment adviser
Form ADV filings: Mar 30, 2012 to Apr 30, 2026
RAUM: $532Mregulatory assets under management of the adviser; not dry powder, not a fund size
PE funds, latest filing: 14
PE fund GAV, latest filing: $532Mreported gross assets (Form ADV), not fund size
All private fund GAV: $532Mevery private fund type, latest filing
2024 PE fund GAV: $532Msum over funds typed Private Equity Fund with a 2024 or later as-of date
PE share of funds, lifetime: 51%
Fund type mix: filed 2026-04-30, latest gav Private Equity Fund $532M, latest counts Private Equity Fund 14, lifetime distinct Hedge Fund 19, Private Equity Fund 20
Employees: 12
Headquarters: San Francisco, CA
Office address: ••• Locked
Business phone: ••• Locked

Stated criteria beside observed behaviour

no observed deals yet

Stated by the firm

Sectors: technology
Geography: Global
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: not stated or not yet read

Observed from deals on record

Nothing observed yet. Behaviour is computed from transactions and portfolio relationships, which have not been collected for this firm.

Funds

13 on record, 7 more on the reporting tape

Fund	Vehicle	Vintage	Reported gross assets (Form ADV), not fund size	Form D sold	Lifecycle
N••••• P••••••• O••••••••• L••• • S••••• 5• ADV: Private Equity Fund	buyout or unlabelled	2023 first reported on Form ADV	$12.1M as of Jun 28, 2024	no Form D	Early deployment
N••••• P••••••• F••• I•• L• ADV: Private Equity Fund	Fund of funds	2022 first reported on Form ADV	$68.0M as of Jun 28, 2024	no Form D	Early deployment
N••••• P••••••• O••••••••• L••• • S••••• 6• ADV: Private Equity Fund	buyout or unlabelled	2022 first reported on Form ADV	$5.7M as of Jun 28, 2024	no Form D	Unknown
N••••• P••••••• O••••••••• L••• • S••••• 2• ADV: Private Equity Fund	buyout or unlabelled	2021 first reported on Form ADV	$20.1M as of Apr 26, 2021	no Form D	Wound down
N••••• P••••••• O••••••••• L••• • S••••• 1• ADV: Private Equity Fund	buyout or unlabelled	2021 first reported on Form ADV	$19.5M as of Apr 26, 2021	no Form D	Wound down
N••••• P••••••• O••••••••• L••• • S••••• 4• ADV: Private Equity Fund	buyout or unlabelled	2021 first reported on Form ADV	$11.8M as of Jun 28, 2024	no Form D	Unknown
N••••• P••••••• O••••••••• L••• • L• S••••• ADV: Private Equity Fund	buyout or unlabelled	2021 first reported on Form ADV	$7.7M as of Apr 26, 2021	no Form D	Wound down
N••••• P••••••• F••• I• L• ADV: Private Equity Fund	Fund of funds	2020 first reported on Form ADV	$162M as of Jun 28, 2024	no Form D	Unknown
S•••• R••• A••••• F••• L• ADV: Private Equity Fund	Fund of funds	2018 first reported on Form ADV	$10.0M as of Jun 28, 2024	no Form D	Mature
P••••••• D•••••• N•••••• F•••• L••• ADV: Private Equity Fund	Fund of funds	2018 first reported on Form ADV	$7.3M as of Jun 28, 2024	no Form D	Harvest
P••••••• P••••••• M••••• F••• S•• • P•••••••• a• ADV: Private Equity Fund	Feeder or parallel	2014 first reported on Form ADV	$31.9M as of Mar 31, 2015	no Form D	Wound down
P••••••• P••••••• M••••• F••• S•• • P•••••••• B• ADV: Private Equity Fund	Feeder or parallel	2014 first reported on Form ADV	$21.1M as of Mar 31, 2015	no Form D	Wound down
P••••••• V•••••••• L•• ADV: Private Equity Fund	buyout or unlabelled	unknown	$68.6M as of Apr 26, 2021	no Form D	Wound down

Gross assets by year from the annual reporting tape

Fund	Type (ADV)	Years	Latest reported GAV	Source
N••••• P••••••• O••••••••• F••• I•• L•	Private Equity Fund	2026 to 2026	$148M filed Apr 30, 2026	reports.adviserinfo.sec.gov
N••••• P••••••• O••••••••• L••• • S••••• I•••	Private Equity Fund	2026 to 2026	$24.0M filed Apr 30, 2026	reports.adviserinfo.sec.gov
N••••• P••••••• O••••••••• L••• • J•• S•••••••••	Private Equity Fund	2026 to 2026	$20.2M filed Apr 30, 2026	reports.adviserinfo.sec.gov
N••••• P••••••• O••••••••• L••• • S••••• I•••	Private Equity Fund	2026 to 2026	$8.1M filed Apr 30, 2026	reports.adviserinfo.sec.gov
N••••• P••••••• S•••••• L••• • S••••• 1• ••••••••	Private Equity Fund	2026 to 2026	$8.0M filed Apr 30, 2026	reports.adviserinfo.sec.gov
N••••• P••••••• O••••••••• L••• • S••••• 7•	Private Equity Fund	2026 to 2026	$6.0M filed Apr 30, 2026	reports.adviserinfo.sec.gov
N••••• P••••••• S•••••• L••• • S••••• 2• ••••••••	Private Equity Fund	2026 to 2026	$4.2M filed Apr 30, 2026	reports.adviserinfo.sec.gov

Team

4 current, 2 former

Managing partner (1)

J••• H••••• B•••••• · Managing Member And Chief Investment Officer · since May 1, 2000 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)

Platform (3)

E•••••••• A•• M•••• · Chief Financial Officer · since Dec 1, 2011 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
J••••• C••••••• · Chief Operating Officer · since Jul 1, 2004 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
J•••• K•• · General Counsel And Chief Compliance Officer · since Jan 1, 2017 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)

2 former (kept with end dates)

J••• P••• M•••• · President · Dec 1, 2011 to Mar 30, 2018 Inference
W•••••• G•• A•••••• · General Counsel · Aug 1, 2008 to Mar 31, 2017 Inference

Portfolio

0 relationships, 0 platforms, 0 add-ons

No portfolio relationship collected for this firm yet. They arrive from the firm’s portfolio page, deal announcements and filings.

Transactions

0 on record

No transaction naming this firm has been collected yet. The deal tape is read from SEC filings and cited announcements.

Placement agents, lenders, advisers and co-investors

1 relationships

Placement agents (1)

C•••••• S••••••••• I•• 1 shared · one time · last Jan 1, 2022

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

2 most recent

Apr 30, 2026
••• Locked
Pe fund count changedFactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Mar 30, 2012
••• Locked
First Form ADV filingFactSEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)

Scores and what they are made of

Freshness99 · HIGH: as of: 2026-09-23items: [{"code":"DAYS_SINCE_NEWEST_EVIDENCE","points":0.9888888888888889,"evidence":"2 method: sum of component points, capped at 1.0
model score-pe-1
Research priority35 · MODERATE: as of: 2026-09-23items: [{"code":"SCALE_BAND","points":0.2,"evidence":"LOWER_MIDDLE_MARKET"},{"code":"COmethod: sum of component points, capped at 1.0
model score-pe-1
Investment velocity0 · LOW: as of: 2026-09-23items: []method: sum of component points, capped at 1.0
missing: no dated transactions
model score-pe-1
Acquisition appetite5 · LOW: as of: 2026-09-23items: [{"code":"STATED_CRITERIA_PUBLISHED","points":0.05,"evidence":"••• Locked"}]method: sum of component points, capped at 1.0
missing: no transactions on the graph for this firm yet
model score-pe-1
Profile completeness58 · ELEVATED: as of: 2026-09-23items: [{"code":"FIELDS_PRESENT","points":0.5833333333333334,"evidence":["website","funmethod: sum of component points, capped at 1.0
missing: description, portfolio, transactions, lenders, lps
model score-pe-1
Fund deployment activity70 · ELEVATED: as of: 2026-09-23items: [{"code":"FUNDS_DEPLOYING","points":0.7,"caution":"deployment state is read frommethod: sum of component points, capped at 1.0
model score-pe-1

Across DFX

Independent Sponsor Intelligence (matched on shared crd)
Venture Capital Intelligence (matched on shared crd)

Record

First observed: Sep 13, 2026
Last observed: today
Observations: 38
Sources: 4
Open research tasks: 1

Reading this profile

Across the graphs

P••••••• C••••••• 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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