DFX Intelligence
Private Equity Intelligence
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Firms / A••••••••• H•••••••
A••••••••• H•••••••
Venture firm with private equity activity · probableUpper middle marketMenlo Park, CAb••••••••.comSEC registered investment adviser
Ben H••••••• is a cofounder and general partner at the venture capital firm A••••••••• H•••••••. He is the author of the New York Times bestsellers, The
Classification
- Class
- Venture firm with private equity activityprobable, confidence 80%
- Basis
- own website statement
- Size band
- Upper middle marketdefined by: proxy: $12.79bn Private Equity Fund GAV on the Form ADV filed 2024-03-29
Classification history (2)
- Sep 13, 2026Venture firm with private equity activity (probable, 80%, cls-pe-1)own website statement“Ben H••••••• is a cofounder and general partner at the venture capital firm A••••••••• H•••••••.”a16z.com
- Sep 13, 2026Venture firm with private equity activity (probable, 70%, cls-pe-1)R3: 78 sworn Venture Capital Funds against 14 Private Equity Funds over 2011-2024
Regulatory footprint (Form ADV)
- Adviser type
- registered investment adviser
- Form ADV filings
- Mar 30, 2012 to Mar 29, 2024
- RAUM
- $56Bregulatory assets under management of the adviser; not dry powder, not a fund size
- PE funds, latest filing
- 14
- PE fund GAV, latest filing
- $13Breported gross assets (Form ADV), not fund size
- All private fund GAV
- $56Bevery private fund type, latest filing
- 2024 PE fund GAV
- $12Bsum over funds typed Private Equity Fund with a 2024 or later as-of date
- PE share of funds, lifetime
- 15%
- Fund type mix
- filed 2024-03-29, latest gav Private Equity Fund $13B, Venture Capital Fund $43B, latest counts Private Equity Fund 14, Venture Capital Fund 73, lifetime distinct Private Equity Fund 14, Venture Capital Fund 78
- Employees
- 535
- Headquarters
- Menlo Park, CA
- Office address
- 2865 SAND HILL ROAD, Menlo Park, CA, 94025-7022
- Business phone
- (650) 798-5800
Stated criteria beside observed behaviour
55 observed deals
Stated by the firm
- Sectors
- healthcare, technology, consumer, financial services, infrastructure
- 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 invest in seed to venture to growth-stage technology companies, across AI, bio + healthcare, consumer, crypto, enterprise, fintech, games, infrastructure, and companies building toward American dynamism.
Observed from deals on record
- roles
- unknown 34, minority 21
- period
- to 2026-09-17, from 2025-10-08, undated holdings 34, dated observations 21
- window
- last unknown, first unknown
- control
- unknown 34, minority 21
- companies
- 55
- geography
- count 5, share 0.091, value CA, count 1, share 0.018, value DE
- investments
- 55
- seller kinds
- transactions
- 0
- cadence by year
- platform add on
- add ons 0, platforms 0, add ons per platform unknown
- sector known for
- 11
- disclosed value usd
- n 0
- sector distribution
- count 6, share 0.109, value software, examples Halliday, Saronic, Wingspan, Adaptive, count 2, share 0.036, value financial services, examples Coinbase, EarnIn, count 2, share 0.036, value life sciences, examples Asimov, Nautilus Biotechnology, count 1, share 0.018, value tech enabled services, examples Okta
- holding period years
- n 0
- repeat counterparties
- subsector distribution
- count 4, share 0.073, value software, examples Saronic, Adaptive, Crypto, Arcjet, count 2, share 0.036, value financial services, examples Coinbase, EarnIn, count 2, share 0.036, value vertical software, examples Halliday, Wingspan, count 2, share 0.036, value life sciences, examples Asimov, Nautilus Biotechnology, count 1, share 0.018, value it services msp, examples Okta
55 companies on the graph (0 transactions); most in software (6); observed 2025 to 2026
Funds
13 on record, 3 more on the reporting tape
| Fund | Vehicle | Vintage | Reported gross assets (Form ADV), not fund size | GAV by year | Form D sold | Lifecycle |
|---|---|---|---|---|---|---|
| I••••••••• O••••••••• L••• ADV: Private Equity Fund | buyout or unlabelled | 2024 first reported on Form ADV | $410M as of Mar 29, 2024 | no Form D | Unknown | |
| C•• F••• I•• L••• ADV: Private Equity Fund | buyout or unlabelled | 2023 first reported on Form ADV | $3.8B as of Mar 29, 2024 | no Form D | Early deployment | |
| C•• S••• F••• I• L••• ADV: Private Equity Fund | buyout or unlabelled | 2023 first reported on Form ADV | $1.5B as of Mar 29, 2024 | no Form D | Early deployment | |
| A• G•••• F••• I• L••• ADV: Venture Capital Fund | buyout or unlabelled | 2023 first reported on Form ADV | $582M as of Mar 29, 2024 | no Form D | Unknown | |
| C•• F••• I•••• L••• ADV: Private Equity Fund | Feeder or parallel | 2023 first reported on Form ADV | $35.0M as of Mar 29, 2024 | no Form D | Early deployment | |
| C•• S••• F••• I••• L••• ADV: Private Equity Fund | Feeder or parallel | 2023 first reported on Form ADV | $13.5M as of Mar 29, 2024 | no Form D | Unknown | |
| A• G•••• F••• I••• L••• ADV: Venture Capital Fund | Feeder or parallel | 2023 first reported on Form ADV | $5.5M as of Mar 29, 2024 | no Form D | Unknown | |
| C•• F••• I••• L••• ADV: Private Equity Fund | buyout or unlabelled | 2022 first reported on Form ADV | $2.6B as of Mar 29, 2024 | no Form D | Early deployment | |
| C•• F••• I••••• L••• ADV: Private Equity Fund | buyout or unlabelled | 2022 first reported on Form ADV | $263M as of Mar 29, 2024 | no Form D | Early deployment | |
| C•• F••• I••••• L••• ADV: Private Equity Fund | Feeder or parallel | 2022 first reported on Form ADV | $155M as of Mar 29, 2024 | no Form D | Early deployment | |
| C•• F••• I•• L••• ADV: Private Equity Fund | buyout or unlabelled | 2021 first reported on Form ADV | $2.6B as of Mar 29, 2024 | no Form D | Active deployment | |
| C•• F••• I•••• L••• ADV: Private Equity Fund | Feeder or parallel | 2021 first reported on Form ADV | $97.6M as of Mar 29, 2024 | no Form D | Active deployment | |
| C•• F••• I•••• L••• ADV: Private Equity Fund | buyout or unlabelled | 2021 first reported on Form ADV | $89.0M as of Mar 29, 2024 | no Form D | Active deployment |
Gross assets by year from the annual reporting tape
These funds appear in this adviser’s Form ADV reporting. One row per fund per year (the latest filing of that year). Values are reported gross assets, not fund size.
| Fund | Type (ADV) | Years | Path | Latest reported GAV | Source |
|---|---|---|---|---|---|
| C•• F••• I• L••• | Private Equity Fund | 2020 to 2024 | $1.0B filed Mar 29, 2024 | adviserinfo.sec.gov | |
| C•• F••• I••• L••• | Private Equity Fund | 2020 to 2024 | $104M filed Mar 29, 2024 | adviserinfo.sec.gov | |
| C•• F••• I••• L••• | Private Equity Fund | 2020 to 2024 | $83.9M filed Mar 29, 2024 | adviserinfo.sec.gov |
Team
5 current, 5 former
Partner (2)
- B••••••• A•••••• H••••••• · Member · since Sep 1, 2022 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- M••• L••••• A••••••••• · Member · since Sep 1, 2022 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
Platform (3)
- J••••••• R•••••••• · Chief Legal Officer · since Feb 1, 2022 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- P••••• B•••••• H••••••• · Chief Operating Officer · since Jan 1, 2022 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- R••••• S•••• T••••• W••••• · Chief Compliance Officer · since May 1, 2022 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
5 former (kept with end dates)
- J••• J••••• · Managing Partner · Oct 1, 2018 to Feb 28, 2022 Inference
- S•••• A•••• K•••• · Managing Partner · Jun 1, 2009 to Feb 28, 2022 Inference
- A•• L••••• B••••••• · Vp Finance · Jun 1, 2009 to Feb 28, 2022 Inference
- B••••••• B•••••• B••••••••• · Chief Compliance Officer · Nov 1, 2018 to Feb 28, 2022 Inference
- R••• T• W••• · General Counsel · Aug 1, 2016 to May 6, 2022 Inference
Portfolio
55 relationships, 0 platforms, 0 add-ons
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
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
1 disclosed
- C••••••••• P••••• E••••••••• R••••••••• S••••• in I••••••••• O••••••••• L••• $2.0B calpers.ca.gov
Events
2 most recent
- Mar 30, 2026A••••••••• H•••••••: Private Equity Funds on Form ADV 14 (2024 extract) -> 13 (roster 2026-09-01)
- Mar 30, 2012A••••••••• H••••••• first filed Form ADV in the extract (ERA)
Across the graphs
A••••••••• H••••••• 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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