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.
SEC-registered adviser
Tomales Bay Capital
Legal name Tomales Bay Capital, L.P.
Latest filing Mar 31, 2026
First filing on the tape Sep 10, 2019 · 17 filings
SEC status approved since Oct 10, 2019
RAUM
$5.1B
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
3
1 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
43
reported on Schedule D
History
17 filings and snapshots on the tape
RAUM$5.1B as of Mar 31, 2026
Mar 31, 2020$213M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 31, 2026
Mar 31, 20200 then
Employees (5.A)3 as of Mar 31, 2026
Mar 31, 20202 then
Private funds43 as of Mar 31, 2026
Mar 31, 20208 then
RAUM +73% over the last fiscal year+40% 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
- $119MderivedRAUM 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
- unknownderived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +73%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
- 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)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$5.1B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 43reported
- 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
40 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Isk Dragon Investments, LLC | Private Equity Fund | $423M | 2 | Mar 28, 2024 |
| Tbc Dragon Investments, LLC | Private Equity Fund | $300M | 11 | Sep 10, 2019 |
| Tomales Bay Capital Anduril II, L.P. | Private Equity Fund | $295M | 38 | Mar 31, 2022 |
| Tomales Bay Capital Anduril III, L.P. | Private Equity Fund | $232M | 16 | Mar 31, 2022 |
| Tbc Castle Global, LLC | Venture Capital Fund | $225M | 27 | Sep 10, 2019 |
| Tomales Bay Capital Global Growth Fund I, L.P. | Private Equity Fund | $112M | 22 | Mar 31, 2021 |
| Tbc Ellipsis Opportunities, LLC - Series 5 | Private Equity Fund | $101M | 53 | Mar 31, 2021 |
| Tbc Ellipsis Opportunities, LLC - Series 6 | Private Equity Fund | $92.9M | 3 | Mar 31, 2021 |
| Tbc Dragon Investments III, LLC | Private Equity Fund | $75.7M | 25 | Mar 31, 2021 |
| Tbc Dragon Investments II, LLC | Private Equity Fund | $74.5M | 27 | Sep 10, 2019 |
| Tbc Dragon Investments V, LLC | Private Equity Fund | $61.3M | 7 | Mar 31, 2021 |
| Isk Cricket Investments, LLC | Venture Capital Fund | $47.9M | 4 | Mar 31, 2022 |
| Tomales Bay Capital Ggf Zhr I, L.P. | Private Equity Fund | $47.8M | 4 | Mar 31, 2021 |
| Tbc Ellipsis Opportunities, LLC - Series 4 | Private Equity Fund | $40.1M | 2 | Mar 31, 2021 |
| Tomales Bay Capital Anduril I, L.P. | Private Equity Fund | $37.2M | 34 | Sep 10, 2019 |
| Tomales Bay Capital Bluebird Alpha I, L.P. | Private Equity Fund | $35.2M | 7 | Mar 28, 2024 |
| Tbc Castle Global II, LLC | Venture Capital Fund | $33.5M | 12 | Sep 10, 2019 |
| Tbc Ellipsis Opportunities, LLC - Sx II | Private Equity Fund | $32.2M | 3 | Mar 31, 2021 |
| Tbc Dragon Investments Xi, L.P. | Private Equity Fund | $31.7M | 2 | Mar 28, 2024 |
| Tbc Dragon Investments IV, LLC | Private Equity Fund | $30.2M | 17 | Mar 31, 2021 |
| Tbc Bracket Dragon Investments I, LLC | Private Equity Fund | $30.1M | 2 | Mar 31, 2021 |
| Tbc Dragon Investments Viii, L.P. | Private Equity Fund | $28.1M | 2 | Mar 31, 2023 |
| Tomales Bay Capital Ggf Zhr IV, L.P. | Private Equity Fund | $23.3M | 3 | Mar 31, 2022 |
| Tomales Bay Capital Anduril II Annex, L.P. | Private Equity Fund | $22.1M | 4 | Mar 31, 2022 |
| Tomales Bay Capital Ggf Zhr Vii, L.P. | Private Equity Fund | $22.1M | 3 | Mar 28, 2024 |
| Tbc Dragon Investments Ix, L.P. | Private Equity Fund | $21.2M | 6 | Mar 31, 2023 |
| Tbc Ellipsis Opportunities, LLC - Sx I | Private Equity Fund | $20.2M | 2 | Sep 10, 2019 |
| Tomales Bay Capital Smile Ggf Zhr | Private Equity Fund | $18.9M | 5 | Mar 31, 2023 |
| Tbc Dragon Investments X, L.P. | Private Equity Fund | $16.0M | 4 | Mar 28, 2024 |
| Tomales Bay Capital Ggf Zhr Viii, L.P. | Private Equity Fund | $13.9M | 4 | Mar 28, 2024 |
| Tbc Dragon Investments Vii, L.P. | Private Equity Fund | $12.6M | 2 | Mar 31, 2023 |
| Tbc Castle Global III, L.P. | Private Equity Fund | $10.4M | 3 | Mar 31, 2022 |
| Tomales Bay Capital Ggf Zhr Vi, L.P. | Private Equity Fund | $10.4M | 4 | Mar 31, 2023 |
| Tbc Ellipsis Opportunities, LLC - Carta, Inc. | Private Equity Fund | $8.0M | 2 | Sep 10, 2019 |
| Tomales Bay Capital Ggf Zhr II, L.P. | Private Equity Fund | $7.2M | 4 | Mar 31, 2022 |
| Tomales Bay Capital Ggf Zhr III, L.P. | Private Equity Fund | $6.1M | 3 | Mar 31, 2022 |
| Tomales Bay Capital Ggf Zhr Ix, L.P. | Private Equity Fund | $6.0M | 3 | Mar 28, 2024 |
| Tbc Anduril Coinvest II, LP | Venture Capital Fund | $3.8M | 2 | Mar 31, 2021 |
| Tbc Anduril Coinvest I, LP | Venture Capital Fund | $2.4M | 9 | Mar 31, 2020 |
| Isk Awesome Investments, LLC | Venture Capital Fund | $769,198 | 2 | Mar 31, 2022 |
Owners and control persons
Schedule A and B, latest filing
- Louise Gina Cibuzar · Chief Financial Officercontrolsince 08/2023 · owns less than 5%
- Singh Iqbaljit Kahlon · Managing Partner And Chief Compliance Officercontrolsince 11/2015 · owns less than 5%
- Singh Iqbaljit Kahlon · Sole Membercontrolsince 04/2021 · owns 75% or more of Anduril Capital, LLC
- Kaur Manvir Kahlon · Trusteecontrolsince 09/2019 · owns F of Crestview Investment Trust
Entity owners
- Anduril Capital, LLC · General Partnerdirect · owns 10% to 25%
- Crestview Investment Trust · Memberdirect · owns 75% or more
Related persons
Schedule D 7.A
- Anduril Capital, LLCpooled vehicle sponsory
- Isk Awesome Investments Gp, LLCpooled vehicle sponsorn
- Isk Cricket Investments Gp, LLCpooled vehicle sponsorn
- Isk Dragon Investments Gp, LLCpooled vehicle sponsorn
- Tbc Anduril Coinvest I Gp, LLCpooled vehicle sponsorn
- Tbc Anduril Coinvest II Gp, LLCpooled vehicle sponsorn
- Tbc Bracket Dragon Investments I Gp, LLCpooled vehicle sponsorn
- Tbc Castle Global Gp, LLCpooled vehicle sponsorn
- Tbc Castle Global II Gp, LLCpooled vehicle sponsorn
- Tbc Dragon Investments Gp, LLCpooled vehicle sponsorn
- Tbc Dragon Investments II Gp, LLCpooled vehicle sponsorn
- Tbc Dragon Investments III Gp, LLCpooled vehicle sponsorn
- Tbc Dragon Investments IV Gp, LLCpooled vehicle sponsorn
- Tbc Dragon Investments Ix Gp, LLCpooled vehicle sponsorn
- Tbc Dragon Investments V Gp, LLCpooled vehicle sponsorn
- Tbc Dragon Investments Vii Gp, LLCpooled vehicle sponsorn
- Tbc Dragon Investments Viii Gp, LLCpooled vehicle sponsorn
- Tbc Dragon Investments X Gp, LLCpooled vehicle sponsorn
- Tbc Dragon Investments Xi Gp, LLCpooled vehicle sponsorn
- Tbc Ellipsis Opportunities Gp, LLCpooled vehicle sponsorn
- Tomales Bay Capital Anduril I Gp, LLCpooled vehicle sponsorn
- Tomales Bay Capital Anduril II Annex Gp, LLCpooled vehicle sponsorn
- Tomales Bay Capital Anduril II Gp, LLCpooled vehicle sponsorn
- Tomales Bay Capital Anduril III Gp, LLCpooled vehicle sponsorn
- Tomales Bay Capital Bluebird Alpha I Gp, LLCpooled vehicle sponsorn
- Tomales Bay Capital Ggf Zhr I Gp, LLCpooled vehicle sponsorn
- Tomales Bay Capital Ggf Zhr II Gp, LLCpooled vehicle sponsorn
- Tomales Bay Capital Ggf Zhr III Gp, LLCpooled vehicle sponsorn
- Tomales Bay Capital Ggf Zhr IV Gp, LLCpooled vehicle sponsorn
- Tomales Bay Capital Ggf Zhr Ix Gp, LLCpooled vehicle sponsorn
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- RAUM up 50 %Change between filings · filing Mar 31, 2026RAUM (Item 5.F) moved from $2,958,967,207 to $5,112,625,424 (+73.0%) between the annual amendments of 2025-03-31 and 2026-03-31; the peer median change was +13.0% (631 comparable advisers, 91.0th percentile of changes)peers: asset managers, $5B to $20B (631) · 91% percentile
What changed
consecutive filings, newest first
- Advisory employees · 2 to 1Mar 31, 2025 to Mar 31, 2026
- Employees · 4 to 3Mar 31, 2025 to Mar 31, 2026
- Discretionary RAUM · $3.0B to $5.1BMar 31, 2025 to Mar 31, 2026
- Pooled vehicle RAUM · $3.0B to $5.1BMar 31, 2025 to Mar 31, 2026
- RAUM · $3.0B to $5.1BMar 31, 2025 to Mar 31, 2026
- Accounts · 39 to 43Nov 11, 2024 to Mar 31, 2025
- Advisory employees · 3 to 2Nov 11, 2024 to Mar 31, 2025
- Pooled vehicle clients · 39 to 43Nov 11, 2024 to Mar 31, 2025
- Employees · 6 to 4Nov 11, 2024 to Mar 31, 2025
- Financial planning clients · unset to Nov 11, 2024 to Mar 31, 2025
- HQ city · unset to Nov 11, 2024 to Mar 31, 2025
- HQ state · unset to Nov 11, 2024 to Mar 31, 2025
- Private funds · 39 to 43Nov 11, 2024 to Mar 31, 2025
- Discretionary RAUM · $2.2B to $3.0BNov 11, 2024 to Mar 31, 2025
- Pooled vehicle RAUM · $2.2B to $3.0BNov 11, 2024 to Mar 31, 2025
- RAUM · $2.2B to $3.0BNov 11, 2024 to Mar 31, 2025
- HQ city · DALLAS to unsetMar 28, 2024 to Nov 11, 2024
- HQ state · TX to unsetMar 28, 2024 to Nov 11, 2024
- Accounts · 33 to 39Feb 20, 2024 to Mar 28, 2024
- Pooled vehicle clients · 33 to 39Feb 20, 2024 to Mar 28, 2024
- Employees · 4 to 6Feb 20, 2024 to Mar 28, 2024
- Private funds · 33 to 39Feb 20, 2024 to Mar 28, 2024
- Discretionary RAUM · $1.8B to $2.2BFeb 20, 2024 to Mar 28, 2024
- Pooled vehicle RAUM · $1.8B to $2.2BFeb 20, 2024 to Mar 28, 2024
- RAUM · $1.8B to $2.2BFeb 20, 2024 to Mar 28, 2024
- HQ city · LAS VEGAS to DALLASAug 30, 2023 to Feb 20, 2024
- HQ state · NV to TXAug 30, 2023 to Feb 20, 2024
- Accounts · 28 to 33Jan 3, 2023 to Mar 31, 2023
- Advisory employees · 2 to 3Jan 3, 2023 to Mar 31, 2023
- Pooled vehicle clients · 28 to 33Jan 3, 2023 to Mar 31, 2023
- Employees · 3 to 4Jan 3, 2023 to Mar 31, 2023
- Private funds · 28 to 33Jan 3, 2023 to Mar 31, 2023
- Discretionary RAUM · $1.8B to $1.8BJan 3, 2023 to Mar 31, 2023
- Pooled vehicle RAUM · $1.8B to $1.8BJan 3, 2023 to Mar 31, 2023
- RAUM · $1.8B to $1.8BJan 3, 2023 to Mar 31, 2023
- HQ city · SAN FRANCISCO to LAS VEGASSep 9, 2022 to Jan 3, 2023
- HQ state · CA to NVSep 9, 2022 to Jan 3, 2023
- Assets in custody · 260557393.0 to unsetMar 31, 2022 to May 19, 2022
- Custody of client assets · true to falseMar 31, 2022 to May 19, 2022
- Discretionary RAUM · $1.7B to $1.8BMar 31, 2022 to May 19, 2022
Signals
8 dated events
- Tomales Bay Capital reported RAUM $5.1B, up 73% from $3.0B (2025-03-31 to 2026-03-31)Mar 31, 2026 · RAUM change · derived
- Tomales Bay Capital reported RAUM $3.0B, up 38% from $2.2B (2024-11-11 to 2025-03-31)Mar 31, 2025 · RAUM change · derived
- Louise Gina Cibuzar (Chief Financial Officer) appeared on Schedule A of Tomales Bay CapitalAug 30, 2023 · Control person joined · fact
- Tomales Bay Capital reported RAUM $1.7B, up 144% from $682.1M (2021-03-31 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- Manvir Kahlon (Trustee) appeared on Schedule A of Tomales Bay CapitalMar 31, 2022 · Control person joined · fact
- Tomales Bay Capital reported RAUM $682.1M, up 218% from $214.2M (2021-01-06 to 2021-03-31)Mar 31, 2021 · RAUM change · derived
- Tomales Bay Capital reported succeeding to the business of Another Adviser (Form ADV Item 4)Aug 27, 2020 · Succession (Item 4) · fact
- Tomales Bay Capital filed its initial SEC registration (Form ADV)Sep 10, 2019 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- Tomales Bay Capital · Private Equityshared crd · organization
- Tomales Bay Capital · Venture Capitalshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/tomales-bay-capital/aboutreportedpublic record, Form ADV, Sep 18, 2026
- Website
- tomalesbaycapital.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- (415) 723-0608reportedpublic 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