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
U•••• G•••• V•••••• P•••••••
Legal name U••• M••••••••• L••
Latest filing Mar 31, 2026
First filing on the tape Jun 6, 2014 · 17 filings
SEC status approved since Jun 19, 2014
RAUM
$635M
reported, Item 5.F
Discretionary
53%
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
2
2 advisory (5.B.1)
Offices
3
beyond the principal office
Private funds
8
reported on Schedule D
History
17 filings and snapshots on the tape
RAUM$635M as of Mar 31, 2026
Mar 30, 2015$210M then
HNW client RAUM$0 as of Mar 31, 2026
Mar 29, 2018$0 then
State-registered IARs (5.B.3)0 as of Mar 31, 2026
Mar 30, 20150 then
Employees (5.A)2 as of Mar 31, 2026
Mar 30, 20153 then
Private funds8 as of Mar 31, 2026
Mar 30, 20153 then
RAUM +11% over the last fiscal year-3.9% 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
- $57.7MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 53%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived4 offices incl. principal (1.F.5)
- RAUM growth, one year
- +11%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 pooled vehicles, selection of other advisersreportedItem 5.G
- 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)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$635M100%
- Individual clients
- 0reported
- HNW clients
- 0reported
- Pension plan clients
- 0reported
- Charitable clients
- 0reported
- Accounts
- 11reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- 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
8 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| U•••• G•••• P••••••• V•••••• A••••• F••• I•••• L• | Venture Capital Fund | $173M | 2 | Feb 26, 2016 |
| U•••• G•••• P••••••• V•••••• A••••• F•••• L• | Venture Capital Fund | $150M | 5 | Mar 19, 2014 |
| U•••• G•••• P••••••• V•••••• A••••• F••• I•• L• | Venture Capital Fund | $109M | 8 | Feb 26, 2016 |
| U•••• G•••• P••••••• 2•••• L• | Venture Capital Fund | $53.7M | 26 | Mar 31, 2022 |
| U•••• G•••• P••••••• D••••• V•••••• F•••• L• | Venture Capital Fund | $7.6M | 6 | Mar 19, 2014 |
| U•••• G•••• H••••••• I•• L•• | Venture Capital Fund | $3.8M | 14 | Oct 21, 2022 |
| U•••• G•••• P• H••••••• L•• | Venture Capital Fund | $1.2M | 4 | Mar 29, 2018 |
| U•••• G•••• H••••••• I••• L•• | Venture Capital Fund | $930,699 | 4 | Mar 31, 2023 |
Owners and control persons
Schedule A and B, latest filing
- B•••••• G••••••• H••••• · Managing Membercontrolsince 03/2014 · owns 25% to 50%
- C•••••• P••••••• A••••• · Managing Member And Chief Compliance Officercontrolsince 03/2014 · owns 25% to 50%
Related persons
Schedule D 7.A
- U•••• G•••• G•••••• P•••••• I• L••pooled vehicle sponsorn
- U•••• G•••• V•••••• P••••••• 2•••• L••pooled vehicle sponsorn
- U•••• G•••• V•••••• P••••••• 2•••••• L••pooled vehicle sponsorn
- U•••• G•••• V•••••• P••••••• 2•••• L••pooled vehicle sponsorn
- U•••• G•••• V•••••• P••••••• 2•••• L••pooled vehicle sponsorn
Offices
Schedule D 1.F, the 25 largest
- Chapel Hill, NC1 employees
- , 1 employees
What changed
consecutive filings, newest first
- Discretionary RAUM · $300M to $334MApr 1, 2025 to Mar 31, 2026
- Non-discretionary RAUM · $272M to $301MApr 1, 2025 to Mar 31, 2026
- Pooled vehicle RAUM · $572M to $635MApr 1, 2025 to Mar 31, 2026
- RAUM · $572M to $635MApr 1, 2025 to Mar 31, 2026
- Financial planning clients · unset to Mar 26, 2024 to Apr 1, 2025
- Discretionary RAUM · $321M to $300MMar 26, 2024 to Apr 1, 2025
- Non-discretionary RAUM · $301M to $272MMar 26, 2024 to Apr 1, 2025
- Pooled vehicle RAUM · $622M to $572MMar 26, 2024 to Apr 1, 2025
- RAUM · $622M to $572MMar 26, 2024 to Apr 1, 2025
- Advisory employees · 3 to 2Mar 31, 2023 to Mar 26, 2024
- Employees · 3 to 2Mar 31, 2023 to Mar 26, 2024
- Other offices · 4 to 3Mar 31, 2023 to Mar 26, 2024
- Discretionary RAUM · $569M to $321MMar 31, 2023 to Mar 26, 2024
- Non-discretionary RAUM · $146M to $301MMar 31, 2023 to Mar 26, 2024
- Pooled vehicle RAUM · $715M to $622MMar 31, 2023 to Mar 26, 2024
- RAUM · $715M to $622MMar 31, 2023 to Mar 26, 2024
- Accounts · 9 to 11Oct 21, 2022 to Mar 31, 2023
- Pooled vehicle clients · 9 to 11Oct 21, 2022 to Mar 31, 2023
- Custody of client assets · true to falseOct 21, 2022 to Mar 31, 2023
- HQ city · CHAPEL HILL to SUMMITOct 21, 2022 to Mar 31, 2023
- HQ state · NC to NJOct 21, 2022 to Mar 31, 2023
- Private funds · 7 to 8Oct 21, 2022 to Mar 31, 2023
- Discretionary RAUM · $458M to $569MOct 21, 2022 to Mar 31, 2023
- Non-discretionary RAUM · $369M to $146MOct 21, 2022 to Mar 31, 2023
- Pooled vehicle RAUM · $827M to $715MOct 21, 2022 to Mar 31, 2023
- RAUM · $827M to $715MOct 21, 2022 to Mar 31, 2023
- Accounts · 8 to 9Mar 31, 2022 to Oct 21, 2022
- Pooled vehicle clients · 8 to 9Mar 31, 2022 to Oct 21, 2022
- Private funds · 6 to 7Mar 31, 2022 to Oct 21, 2022
- Discretionary RAUM · $524M to $458MMar 31, 2022 to Oct 21, 2022
- Non-discretionary RAUM · $286M to $369MMar 31, 2022 to Oct 21, 2022
- Pooled vehicle RAUM · $810M to $827MMar 31, 2022 to Oct 21, 2022
- RAUM · $810M to $827MMar 31, 2022 to Oct 21, 2022
- Accounts · 7 to 8Mar 30, 2021 to Mar 31, 2022
- Pooled vehicle clients · 7 to 8Mar 30, 2021 to Mar 31, 2022
- Assets in custody · unset to 0.0Mar 30, 2021 to Mar 31, 2022
- Custody of client assets · false to trueMar 30, 2021 to Mar 31, 2022
- Private funds · 5 to 6Mar 30, 2021 to Mar 31, 2022
- Discretionary RAUM · $258M to $524MMar 30, 2021 to Mar 31, 2022
- Non-discretionary RAUM · $228M to $286MMar 30, 2021 to Mar 31, 2022
Signals
5 dated events
- Armistead John Spilman (Managing Member) no longer on Schedule A of U•••• G•••• V•••••• P••••••• (listed 2023-03-31, absent 2024-03-26)Mar 26, 2024 · Control person left · inference
- U•••• G•••• V•••••• P••••••• reported RAUM $810.0M, up 67% from $485.7M (2021-03-30 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- U•••• G•••• V•••••• P••••••• reported RAUM $476.2M, down 40% from $788.2M (2020-03-30 to 2020-08-11)Aug 11, 2020 · RAUM change · derived
- U•••• G•••• V•••••• P••••••• reported RAUM $788.2M, up 74% from $452.4M (2019-03-28 to 2020-03-30)Mar 30, 2020 · RAUM change · derived
- U•••• G•••• V•••••• P••••••• filed its initial SEC registration (Form ADV)Jun 6, 2014 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- U•••• G•••• V•••••• P••••••• · Venture Capitalshared crd · organization
How to reach
public business contact points only, each with its source
- Website
- U•••.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 866-491-8550reportedpublic 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