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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Former SEC-registered adviser
N••• P••• C••••••• L••
Latest filing Jun 28, 2023
First filing on the tape Apr 1, 2021 · 5 filings
RAUM
$571M
reported, Item 5.F
Discretionary
98%
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
11
9 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
31
$569M gross assets
History
5 filings and snapshots on the tape
RAUM$571M as of Mar 30, 2023
Mar 31, 2022$478M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 30, 2023
Mar 31, 20220 then
Employees (5.A)11 as of Mar 30, 2023
Mar 31, 20227 then
Private funds31 as of Mar 30, 2023
Mar 31, 202229 then
RAUM +19% over the last fiscal yearIARs 0 to 0
Practice profile
derived from the filing of Jun 28, 2023; 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
- $18.4MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 98%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +19%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 vehiclesreportedItem 5.G
- Custody
- $420M, 31 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
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- an independent public accountant performs a surprise examination (9.C.1)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$571M100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 31reported
- Financial planning clients
- n/areported
- Wrap fee programs
- noreported
- Custody of client assets
- $420M for 31 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- absent from the latest SEC rosterderived
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
7 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| N••• P••• S•••• L• | Venture Capital Fund | $10.0M | 1 | Mar 30, 2023 |
| N•• F•••• L••no longer reported | Venture Capital Fund | $3.6M | 16 | Apr 1, 2021 |
| N•• U•••••• L••no longer reported | Venture Capital Fund | $1.6M | 2 | Apr 1, 2021 |
| N•• H•••• L••no longer reported | Venture Capital Fund | $1.0M | 17 | Apr 1, 2021 |
| N•• E••••••• L•••••• F•••• L••• | Venture Capital Fund | $770,251 | 11 | Mar 30, 2023 |
| N•• J••••••• L••no longer reported | Venture Capital Fund | $259,734 | 8 | Apr 1, 2021 |
| N•• R•• L••no longer reported | Venture Capital Fund | $208,849 | 7 | Apr 1, 2021 |
Owners and control persons
Schedule A and B, latest filing
- N•••• R•••• C• · Membercontrolsince 06/2014 · owns 75% or more
- V••••• E•••• C•••••• · Chief Compliance Officercontrolsince 01/2015 · owns less than 5%
- L•••• R•••••• M••••• · Trusteecontrolsince 03/1992 · owns F of R••••• M• L••• F••••• T••••
- L•••• R•••••• M••••• · Membercontrolsince 04/2016 · owns 75% or more of K••• 4• M••••••••• L••
- S•••••••• J••••••• M•••••• · Trusteecontrolsince 01/2012 · owns 75% or more of J•••••• S••••••• 2••• R•••••••• T••••
Entity owners
- K••• 4• M••••••••• L•• · General Partnerindirect · owns F of K••• 4• I••••••••• L•••
- R••••• M• L••• F••••• T•••• · Limited Partnerindirect · owns 75% or more of K••• 4• I••••••••• L•••
- J•••••• S••••••• 2••• R•••••••• T•••• · Memberdirect · owns 10% to 25%
- K••• 4• I••••••••• L••• · Memberdirect · owns 10% to 25%
Related persons
Schedule D 7.A
- C••• G•• L••pooled vehicle sponsory
- C•••• A•• S••• F••• 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•• E••••••• L•••••• F••• G•• L••pooled vehicle sponsory
- N•• O••••••••• F••• G•• L••pooled vehicle sponsory
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 29 to 31Mar 31, 2022 to Mar 30, 2023
- Advisory employees · 7 to 9Mar 31, 2022 to Mar 30, 2023
- Pooled vehicle clients · 29 to 31Mar 31, 2022 to Mar 30, 2023
- Assets in custody · $16.6M to $420MMar 31, 2022 to Mar 30, 2023
- Employees · 7 to 11Mar 31, 2022 to Mar 30, 2023
- Private funds · 29 to 31Mar 31, 2022 to Mar 30, 2023
- Discretionary RAUM · $478M to $561MMar 31, 2022 to Mar 30, 2023
- Non-discretionary RAUM · $0 to $10.0MMar 31, 2022 to Mar 30, 2023
- Pooled vehicle RAUM · $478M to $571MMar 31, 2022 to Mar 30, 2023
- RAUM · $478M to $571MMar 31, 2022 to Mar 30, 2023
- Accounts · 24 to 29Apr 1, 2021 to Mar 31, 2022
- Advisory employees · 6 to 7Apr 1, 2021 to Mar 31, 2022
- Pooled vehicle clients · 24 to 29Apr 1, 2021 to Mar 31, 2022
- Assets in custody · $6.1M to $16.6MApr 1, 2021 to Mar 31, 2022
- Employees · 6 to 7Apr 1, 2021 to Mar 31, 2022
- Private funds · 27 to 29Apr 1, 2021 to Mar 31, 2022
- Discretionary RAUM · $182M to $478MApr 1, 2021 to Mar 31, 2022
- Pooled vehicle RAUM · $182M to $478MApr 1, 2021 to Mar 31, 2022
- RAUM · $182M to $478MApr 1, 2021 to Mar 31, 2022
Signals
5 dated events
- Jeffrey Sperbeck (Trustee) appeared on Schedule A of N••• P••• C••••••• L••Mar 30, 2023 · Control person joined · fact
- Mandel Ronald Lott (Member) appeared on Schedule A of N••• P••• C••••••• L••Mar 30, 2023 · Control person joined · fact
- Nurhan John Ailanjian (General Partner Of N••• P••• C••••••• L••) no longer on Schedule A of N••• P••• C••••••• L•• (listed 2022-03-31, absent 2023-03-30)Mar 30, 2023 · Control person left · inference
- N••• P••• C••••••• L•• reported RAUM $478.3M, up 163% from $181.7M (2021-04-01 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- N••• P••• C••••••• L•• filed its initial SEC registration (Form ADV)Apr 1, 2021 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- N••• P••• C••••••• L•• · Venture Capitalshared crd · organization
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
- Former SEC-registered adviserderiveda 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