DFX Intelligence
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H•••••• B••••• P••••••• L••
Fund of fundsClassification probableMiddle marketSEC registered investment adviser· San Francisco, CA
••• Locked
As of · identity and classification; each section below carries its own date
- Regulatory AUM
- $24B
- PE fund assets
- $2.8B
- PE funds
- 17
Form ADV
Form ADV
Form ADV
As of · identity and classification; each section below carries its own date
What matters now
- +3funds on Form ADV
Private equity funds on its Form ADV went from 14 to 17 (+3).
New vehicles are a new flagship's feeders, parallels and co-invest sleeves being stood up: capacity arriving before the capital is announced.
Classification, Form ADV and stated criteria
How this organization is classified, and on what basisFund of funds · 2 in historyShowHide
- Class
- Fund of fundsprobable, confidence 75%
- Basis
- 16 of 19 admitted vehicles carry the sworn fund-of-funds flag
- Size band
- Middle marketdefined by: proxy: $2.75bn Private Equity Fund GAV on the Form ADV filed 2026-06-17
- Strategies
- Growth equity
Classification history (2)
- Sep 23, 2026Fund of funds (probable, 75%)16 of 19 admitted vehicles carry the sworn fund-of-funds flag
- Sep 13, 2026Fund of funds (probable, 75%)16 of 16 admitted vehicles carry the sworn fund-of-funds flag
Regulatory footprint (Form ADV)RAUM $24B · 17 PE funds · filed Jun 17, 2026ShowHide
- Adviser type
- Registered investment adviser
- Form ADV filings
- Mar 30, 2012 to Jun 17, 2026
- RAUM
- $24Bregulatory assets under management of the adviser; not dry powder, not a fund size
- PE funds, latest filing
- 17
- PE fund GAV, latest filing
- $2.8Breported gross assets (Form ADV), not fund size
- All private fund GAV
- $25Bevery private fund type, latest filing
- 2024 PE fund GAV
- $2.8Bsum over funds typed Private Equity Fund with a 2024 or later as-of date
- PE share of funds, lifetime
- 32%
- Fund type mix
- Venture capital fund: 28 funds, $23B reported gross assets, 38 ever reported
- Private equity fund: 17 funds, $2.8B reported gross assets, 18 ever reported
- Employees
- 47
- Headquarters
- San Francisco, CA
- Office address
- ••• Locked
- Business phone
- ••• Locked
Stated criteria beside observed behaviourno criteria stated · no observed deals yetShowHide
Stated by the firm
- Sectors
- not stated or not yet read
- 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
- 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.
FundsHow vehicles are groupedFeeders, parallels, executive funds, alternative investment vehicles and lettered sleeves are folded under the fund they belong to, read from the vehicle names. Deal-by-deal co-investment vehicles are pooled. Current funds come first: families are ordered by vintage, newest first, among those holding at least a twentieth of the largest family’s assets, then by size. The figure is the sum of each vehicle’s latest reported gross assets on Form ADV, not a fund size.
10 families, 19 vehicles on record
H•••••• B••••• G••••• 1•• L••• · 3 vehicles · vintage 2024$473M
- H•••••• B••••• G••••• 1•••• L••• Growth fund$223M
- H•••••• B••••• G••••• 1•• L••• Growth fund$140M
- H•••••• B••••• G••••• 1• F•••••• L••• Growth fund$110M
H•••••• B••••• G••••• 1•• L••• · 3 vehicles · vintage 2022$450M
- H•••••• B••••• G••••• 1•••• L••• Fund of funds · 2022$253M
- H•••••• B••••• G••••• 1•• L••• Fund of funds · 2022$102M
- H•••••• B••••• G••••• 1• F•••••• L••• Fund of funds · 2022$94.7M
H•••••• B••••• S•••••••• F••• I••• L••• · 2 vehicles · vintage 2020$46.2M
- H•••••• B••••• S•••••••• F••• I••••• L••• Fund of funds · 2020$27.5M
- H•••••• B••••• S•••••••• F••• I••• L••• Fund of funds · 2020$18.6M
H•••••• B••••• X•• G••••• B•••••• L••• · 3 vehicles · vintage 2019$836M
- H•••••• B••••• X•• G••••• B•••••• L••• Fund of funds · 2019$363M
- H•••••• B••••• X•• G••••• B•••••••• L••• Fund of funds · 2019$331M
- H•••••• B••••• X•• G••••• B••••• F•••••• L••• Fund of funds · 2019$143M
H•••••• B••••• S•••••••• F••• I•• L••• · 1 vehicle · vintage 2018$164M
- H•••••• B••••• S•••••••• F••• I•• L••• Fund of funds · 2018$164M
5 smaller families are in the full list of vehicles.
View all 19 vehiclesnewest vintage first, then largest
| Fund | Vehicle | Vintage | Reported gross assets (Form ADV), not fund size | GAV by year | Form D sold | Lifecycle |
|---|---|---|---|---|---|---|
| H•••••• B••••• G••••• 1•••• L••• ADV: Private Equity Fund | Fund of funds | 2022 first reported on Form ADV | $253M as of Jun 17, 2026 | no Form D | Successor fundraising | |
| H•••••• B••••• G••••• 1•• L••• ADV: Private Equity Fund | Fund of funds | 2022 first reported on Form ADV | $102M as of Jun 17, 2026 | $0 | Active deployment | |
| H•••••• B••••• G••••• 1• F•••••• L••• ADV: Private Equity Fund | Fund of funds | 2022 first reported on Form ADV | $94.7M as of Jun 17, 2026 | no Form D | Successor fundraising | |
| H•••••• B••••• S•••••••• F••• I••••• L••• ADV: Private Equity Fund | Fund of funds | 2020 first reported on Form ADV | $27.5M as of Jun 17, 2026 | no Form D | Harvest | |
| H•••••• B••••• S•••••••• F••• I••• L••• ADV: Private Equity Fund | Fund of funds | 2020 first reported on Form ADV | $18.6M as of Jun 17, 2026 | no Form D | Harvest | |
| H•••••• B••••• X•• G••••• B•••••• L••• ADV: Private Equity Fund | Fund of funds | 2019 first reported on Form ADV | $363M as of Jun 17, 2026 | no Form D | Unknown | |
| H•••••• B••••• X•• G••••• B•••••••• L••• ADV: Private Equity Fund | Fund of funds | 2019 first reported on Form ADV | $331M as of Jun 17, 2026 | no Form D | Unknown | |
| H•••••• B••••• X•• G••••• B••••• F•••••• L••• ADV: Private Equity Fund | Fund of funds | 2019 first reported on Form ADV | $143M as of Jun 17, 2026 | no Form D | Unknown | |
| H•••••• B••••• X• G••••• B•••••••• L••• ADV: Private Equity Fund | Fund of funds | 2018 first reported on Form ADV | $228M as of Jun 17, 2026 | no Form D | Mature | |
| H•••••• B••••• S•••••••• F••• I•• L••• ADV: Private Equity Fund | Fund of funds | 2018 first reported on Form ADV | $164M as of Jun 17, 2026 | no Form D | Unknown | |
| H•••••• B••••• X• G••••• B•••••• L••• ADV: Private Equity Fund | Fund of funds | 2016 Form D first sale | $269M as of Jun 17, 2026 | no Form D | Mature | |
| H•••••• B••••• X• G••••• B•••••••• L••• ADV: Private Equity Fund | Fund of funds | 2014 first reported on Form ADV | $87.6M as of Jun 17, 2026 | no Form D | Harvest | |
| H•••••• B••••• X• G••••• B•••••• L••• ADV: Private Equity Fund | Fund of funds | 2013 Form D first sale | $169M as of Jun 17, 2026 | no Form D | Harvest | |
| H•••••• B••••• G••••• 1•••• L••• ADV: Private Equity Fund | Growth fund | unknown | $223M as of Jun 17, 2026 | no Form D | Unknown | |
| H•••••• B••••• G••••• 1•• L••• ADV: Private Equity Fund | Growth fund | unknown | $140M as of Jun 17, 2026 | $0 | Unknown | |
| H•••••• B••••• G••••• 1• F•••••• L••• ADV: Private Equity Fund | Growth fund | unknown | $110M as of Jun 17, 2026 | no Form D | Unknown | |
| H•••••• B••••• I••••••••• I•• L••• ADV: Venture Capital Fund | Fund of funds | unknown | $64.5M as of Jun 17, 2026 | no Form D | Harvest | |
| H•••••• B••••• G••••• V•••• L••• ADV: Private Equity Fund | Fund of funds | unknown | $29.8M as of Jun 17, 2026 | no Form D | Mature | |
| H•••••• B••••• I••••••••• I• L••• ADV: Private Equity Fund | Fund of funds | unknown | $4.0M as of Jul 7, 2023 | no Form D | Wound down |
TeamWhere the team comes fromEach row names its source in short; hover the source for its full description. Sources on this list: SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites); Investment organization websites (team, portfolio, strategy, criteria, news). A person named by two sources under two spellings is shown once, with both sources.
9 current, 6 former
- Managing Director And Member · since Sep 1, 2011
- Managing Director
- Managing Director And Trustee · since Sep 1, 2003
- Managing Director · since Sep 1, 2003
- Managing Director And Trustee · since Sep 1, 2003
Full team · 9 peoplegrouped by role, with sources
Partner (6)
- D• H• C••• · Managing Director And Member · since Sep 1, 2011 Form ADV Firm website
- J••• F•••••• · Managing Director · start date unknown Firm website
- J••••• D••• F•••••• · Managing Director And Trustee · since Sep 1, 2003 Form ADV
- K•••••• M•••• · Managing Director · since Sep 1, 2003 Form ADV Firm website
- L•••• C••••••• · Managing Director And Trustee · since Sep 1, 2003 Form ADV Firm website
- Y• S•• · Managing Director And Member · since Jan 1, 2011 Form ADV Firm website
Platform (3)
- C•••• V• · Chief Financial Officer · since Oct 1, 2010 Form ADV
- K••• M••••• · Managing Director / COO · start date unknown Firm website
- K••••••• M••• M••••• · Managing Director/Coo, Chief Compliance Officer, Trustee · since Jan 1, 2008 Form ADV
6 former (kept with end dates)
- A•••••••• R••••• · Trustee · Jan 1, 2005 to May 6, 2013 Inference
- C•••••• J• F•••••• · Trustee · Jan 1, 2007 to May 6, 2013 Inference
- A••••• J• G•••••••• · Managing Director And Trustee · Mar 1, 1997 to Mar 29, 2024 Inference
- D•• N• R•••• · Managing Director · Mar 1, 1997 to Mar 31, 2014 Inference
- E•••••••• D•••••• O••••••• · Managing Director And Member · Jan 1, 2008 to Jun 30, 2021 Inference
- F••• E• B•••••••• · Managing Director · Mar 1, 1997 to Jul 30, 2014 Inference
DealsHow deals are mergedOne row per deal. A portfolio relationship and a transaction that describe the same deal (the same transaction, or the same company on the same date) are printed once, with the columns of both. 0 portfolio relationships and 0 transactions are on this record.
0 on record, newest first · 0 platforms · 0 add-ons
No deal naming this firm has been collected yet. Deals arrive from the firm’s portfolio page, SEC filings and cited announcements.
Placement agents, lenders, advisers and co-investors
3 relationships
Placement agents (3)
- B••• I••••••••• • S••••••••• C•• L••• ••••••• 1 shared · one time
- H•• I•••••• C•••••• A••••••• 1 shared · one time · last Jul 23, 2021
- B••• I••••••••• • S••••••••• C•• L••• 1 shared · one time · last Jul 23, 2021
LP commitmentsHow LPs are totalledOne line per LP, largest disclosed total first. A commitment that the same LP reports again in a later document is counted once in its total; both documents stay in the full list. Rows repeated line for line from one document are shown once.
0 LPs, 0 disclosed commitments
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
Across the graphs
H•••••• B••••• P••••••• 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.
Checking your plan…
Not yet on record: investments held, deals, last 12 months.