DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
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SEC-registered adviser
N••• L••••• M••••••••• L••
Latest filing Mar 31, 2026
First filing on the tape Feb 13, 2012 · 22 filings
SEC status approved since Mar 30, 2012
RAUM
$4.4B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
26
11 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
47
reported on Schedule D
History
22 filings and snapshots on the tape
RAUM$4.4B as of Mar 31, 2026
Mar 27, 2013$844M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 31, 2026
Mar 27, 20130 then
Employees (5.A)26 as of Mar 31, 2026
Mar 27, 201311 then
Private funds47 as of Mar 31, 2026
Mar 27, 20138 then
RAUM +21% over the last fiscal year+6.3% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 31, 2026; every figure names its basis
- RAUM per advisor
- unknownderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- unknownderivedHNW RAUM over HNW clients
- Average account
- $93.8MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +21%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, performance-basedreportedItem 5.E
- Advisory activities
- portfolio management for businesses and institutions, portfolio management for pooled vehicles, selection of other advisersreportedItem 5.G
- Custody
- $3.8B, 32 clientsreportedItem 9.A
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$4.4B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 47reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $3.8B for 32 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
Joined, latest
none on the tape
Private funds
46 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| L••••• V•••••• V••• L•• | Venture Capital Fund | $615M | 147 | Mar 27, 2014 |
| L••••• V•••••• V•••• L•• | Venture Capital Fund | $561M | 126 | Mar 22, 2016 |
| L••••• 1•• L••no longer reported | Venture Capital Fund | $552M | 2 | Mar 31, 2021 |
| L••••• V•••••• I•• L•• | Venture Capital Fund | $474M | 160 | Mar 29, 2019 |
| L••••• V•••••• X•• L•• | Venture Capital Fund | $471M | 222 | Feb 22, 2023 |
| L••••• V•••••• V• •••• L•• | Venture Capital Fund | $326M | 61 | Feb 13, 2012 |
| L••••• V•••••• X• L•• | Venture Capital Fund | $323M | 174 | Mar 31, 2021 |
| L••••• K• L•• | Venture Capital Fund | $184M | 1 | Mar 31, 2021 |
| N••• P••• C•••••• I•• Q• L••• | Venture Capital Fund | $164M | 322 | Mar 31, 2022 |
| L••••• V•••••• V•• L•• | Venture Capital Fund | $142M | 61 | Feb 13, 2012 |
| L••••• V•••••• V• •••• L•• | Venture Capital Fund | $97.3M | 64 | Feb 13, 2012 |
| N••• P••• C•••••• I•• L••• | Venture Capital Fund | $65.1M | 73 | Apr 1, 2021 |
| N••• P••• C•••••• I• Q• L••• | Venture Capital Fund | $65.1M | 79 | Apr 1, 2021 |
| L••••• V•••••• I•• L•• | Venture Capital Fund | $63.4M | 94 | Feb 13, 2012 |
| N••• P••• C•••••• I• L••• | Venture Capital Fund | $59.1M | 86 | Apr 1, 2021 |
| L••••• V•••••• I••• L••no longer reported | Venture Capital Fund | $44.7M | 95 | Feb 13, 2012 |
| N•• O••••••••• F•••• L••• | Venture Capital Fund | $38.6M | 84 | Apr 1, 2021 |
| N••• L••••• E••••••• L•••••• 1• L••• | Venture Capital Fund | $37.2M | 37 | Mar 28, 2024 |
| L••••• V•••••• V• L•• | Venture Capital Fund | $23.3M | 50 | Feb 13, 2012 |
| N•• G•••• I•• L•• | Venture Capital Fund | $19.0M | 25 | Mar 31, 2022 |
| N••• P••• C•••••• I••• L••• | Venture Capital Fund | $16.3M | 76 | Mar 31, 2022 |
| L••••• V•••••• I•• L••no longer reported | Venture Capital Fund | $15.4M | 70 | Feb 13, 2012 |
| N••• P••• S•••• L• | Venture Capital Fund | $9.3M | 1 | Mar 28, 2024 |
| N•• A••••••••• L•• | Venture Capital Fund | $8.2M | 17 | Apr 1, 2021 |
| N•• I••••••••• F•••• I•• L•• | Venture Capital Fund | $6.6M | 51 | Apr 1, 2021 |
| N•• E••••••• L•• | Venture Capital Fund | $6.0M | 7 | Apr 1, 2021 |
| N•• G••••• L•• | Venture Capital Fund | $5.2M | 7 | Apr 1, 2021 |
| N•• F•••••••• L•• | Venture Capital Fund | $5.1M | 9 | Apr 1, 2021 |
| N•• T••••••••• L•• | Venture Capital Fund | $5.0M | 11 | Apr 1, 2021 |
| N•• L••• I•• L•• | Venture Capital Fund | $4.7M | 36 | Mar 31, 2022 |
| N•• V•• L•• | Venture Capital Fund | $4.5M | 23 | Mar 31, 2022 |
| N•• R••••• I•• L•• | Venture Capital Fund | $3.7M | 20 | Apr 1, 2021 |
| N•• R•••••• L•• | Venture Capital Fund | $2.7M | 13 | Apr 1, 2021 |
| N•• B••••••••• L•• | Venture Capital Fund | $2.7M | 13 | Apr 1, 2021 |
| N•• K••• T••••••• L•• | Venture Capital Fund | $2.6M | 12 | Mar 31, 2022 |
| N•• I••••••••• F••••• L•• | Venture Capital Fund | $2.2M | 5 | Apr 1, 2021 |
| N•• C••••• L•• | Venture Capital Fund | $2.0M | 6 | Apr 1, 2021 |
| L••••• I• L••no longer reported | Venture Capital Fund | $1.9M | 50 | Feb 13, 2012 |
| N•• F••••••• L•• | Venture Capital Fund | $1.9M | 10 | Apr 1, 2021 |
| N•• B•••••••• L•• | Venture Capital Fund | $1.4M | 16 | Mar 31, 2022 |
Owners and control persons
Schedule A and B, latest filing
- C•••• B••• C••••••••• · Managing Member And Trustee Of C••• F••••• T•••• D•••• M•••• 2• 2•••controlsince 02/2015 · owns 25% to 50%
- C••••••••• K••••• A•• · Managing Member, Cco, Cfo And Trustee Of The C•••••••• Family Trust D•••• M•••• 15, 2019controlsince 02/2012 · owns 25% to 50%
- H•••• R••••••• B•••• · Managing Member And Trustee Of The H••• Family Trust D•••• December 20, 2012, And Any Amendments Theretocontrolsince 11/1999 · owns less than 5%
- N•••• R•••• C• · Trustee Of The N••• F••••• T••••controlsince 05/2013 · owns 25% to 50%
Entity owners
- C••• F••••• T•••• D•••• M•••• 2• 2••• · Managing Memberdirect · owns 25% to 50%
- N••• F••••• T•••• · Managing Memberdirect · owns 25% to 50%
- T•• C•••••••• F••••• T•••• D•••• M••••• 1•• 2••• · Managing Memberdirect · owns 25% to 50%
Related persons
Schedule D 7.A
- C•••• A•• S••• F••• G•• L•• ••••••••• W• B•••pooled vehicle sponsory
- N••• L••••• E••••••• L•••••• 1• G•• L••pooled vehicle sponsory
- N••• L••••• I••••••••• F••• 2• G•• L••pooled vehicle sponsory
- N••• P••• C•••••• G• I• L•pooled vehicle sponsory
- N••• P••• C•••••• G• I•• L••pooled vehicle sponsory
- N••• P••• C•••••• G• I••• L••pooled vehicle sponsory
- N••• P••• S••• G•• L••pooled vehicle sponsory
- N•• C••• G•• L••pooled vehicle sponsory
- N•• O••••••••• F••• G•• L••pooled vehicle sponsory
Offices
Schedule D 1.F, the 25 largest
- Redwood City, CA
What changed
consecutive filings, newest first
- Accounts · 41 to 47Aug 13, 2025 to Mar 31, 2026
- Pooled vehicle clients · 41 to 47Aug 13, 2025 to Mar 31, 2026
- Assets in custody · $2.5B to $3.8BAug 13, 2025 to Mar 31, 2026
- Private funds · 41 to 47Aug 13, 2025 to Mar 31, 2026
- Discretionary RAUM · $3.7B to $4.4BAug 13, 2025 to Mar 31, 2026
- Pooled vehicle RAUM · $3.7B to $4.4BAug 13, 2025 to Mar 31, 2026
- RAUM · $3.7B to $4.4BAug 13, 2025 to Mar 31, 2026
- HQ city · PALO ALTO to PORTOLA VALLEYMar 26, 2025 to Aug 13, 2025
- Accounts · 44 to 41Mar 28, 2024 to Mar 26, 2025
- Advisory employees · 6 to 11Mar 28, 2024 to Mar 26, 2025
- Pooled vehicle clients · 43 to 41Mar 28, 2024 to Mar 26, 2025
- Assets in custody · $2.5B to $2.5BMar 28, 2024 to Mar 26, 2025
- Employees · 25 to 26Mar 28, 2024 to Mar 26, 2025
- Financial planning clients · unset to Mar 28, 2024 to Mar 26, 2025
- Private funds · 43 to 41Mar 28, 2024 to Mar 26, 2025
- Discretionary RAUM · $3.8B to $3.7BMar 28, 2024 to Mar 26, 2025
- Pooled vehicle RAUM · $3.8B to $3.7BMar 28, 2024 to Mar 26, 2025
- RAUM · $3.8B to $3.7BMar 28, 2024 to Mar 26, 2025
- Accounts · 11 to 44Jun 15, 2023 to Mar 28, 2024
- Advisory employees · 7 to 6Jun 15, 2023 to Mar 28, 2024
- Pooled vehicle clients · 11 to 43Jun 15, 2023 to Mar 28, 2024
- Assets in custody · $2.9B to $2.5BJun 15, 2023 to Mar 28, 2024
- Employees · 27 to 25Jun 15, 2023 to Mar 28, 2024
- Private funds · 11 to 43Jun 15, 2023 to Mar 28, 2024
- Discretionary RAUM · $3.7B to $3.8BJun 15, 2023 to Mar 28, 2024
- Pooled vehicle RAUM · $3.7B to $3.8BJun 15, 2023 to Mar 28, 2024
- RAUM · $3.7B to $3.8BJun 15, 2023 to Mar 28, 2024
- Business name · L••••• V•••••• M••••••••• L•• to N••• L••••• M••••••••• L••Jun 12, 2023 to Jun 15, 2023
- Employees · 18 to 27Jun 12, 2023 to Jun 15, 2023
- Legal name · L••••• V•••••• M••••••••• L•• to N••• L••••• M••••••••• L••Jun 12, 2023 to Jun 15, 2023
- Other offices · 0 to 1Jun 12, 2023 to Jun 15, 2023
- Accounts · 10 to 11Jan 5, 2023 to Feb 22, 2023
- Pooled vehicle clients · 10 to 11Jan 5, 2023 to Feb 22, 2023
- Assets in custody · $3.3B to $2.9BJan 5, 2023 to Feb 22, 2023
- Employees · 16 to 18Jan 5, 2023 to Feb 22, 2023
- Private funds · 10 to 11Jan 5, 2023 to Feb 22, 2023
- Discretionary RAUM · $3.8B to $3.7BJan 5, 2023 to Feb 22, 2023
- Pooled vehicle RAUM · $3.8B to $3.7BJan 5, 2023 to Feb 22, 2023
- RAUM · $3.8B to $3.7BJan 5, 2023 to Feb 22, 2023
- Advisory employees · 6 to 7May 6, 2021 to Mar 31, 2022
Signals
5 dated events
- C Ryan Nece (Trustee Of The N••• F••••• T••••) appeared on Schedule A of N••• L••••• M••••••••• L••Jun 15, 2023 · Control person joined · fact
- Wayne Alan Marty (Managing Member And Trustee Of The Marty Family Trust Of October 14, 2003 As Amended And Restated November 1, 2012) no longer on Schedule A of N••• L••••• M••••••••• L•• (listed 2022-03-31, absent 2023-01-05)Jan 5, 2023 · Control person left · inference
- N••• L••••• M••••••••• L•• reported RAUM $3.8B, up 35% from $2.8B (2021-05-06 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- N••• L••••• M••••••••• L•• reported RAUM $2.8B, up 34% from $2.1B (2020-10-07 to 2021-03-31)Mar 31, 2021 · RAUM change · derived
- N••• L••••• M••••••••• L•• reported RAUM $2.0B, up 27% from $1.6B (2018-03-19 to 2019-03-29)Mar 29, 2019 · RAUM change · derived
Across DFX
shared identifiers only, never a name match
- N••• L••••• M••••••••• L•• · Venture Capitalshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/next-legacy-partnersreportedpublic record, Form ADV, Sep 18, 2026
- Website
- n•••••••••.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 650-324-5980reportedpublic record, Form ADV, Mar 31, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
- RAUM per advisor
- n/aderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026