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
F•••• E•• P••••••• L•
Latest filing Mar 31, 2026
First filing on the tape Aug 6, 2025 · 3 filings
SEC status approved since Aug 12, 2025
RAUM
$184M
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
8
4 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
27
reported on Schedule D
History
3 filings and snapshots on the tape
RAUM$184M as of Mar 31, 2026
Aug 6, 2025$172M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 31, 2026
Aug 6, 20250 then
Employees (5.A)8 as of Mar 31, 2026
Aug 6, 20258 then
Private funds27 as of Mar 31, 2026
Aug 6, 202522 then
RAUM n/a over the last fiscal year
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
- $5.9MderivedRAUM 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
- unknownderivedbetween 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$184M100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 31reported
- 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
19 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| B••••••••• C••••••••• F••• I••• L• | Private Equity Fund | $42.2M | 134 | Mar 28, 2024 |
| B••••••••• C••••••••• L• | Private Equity Fund | $29.5M | 94 | Mar 28, 2024 |
| B••••••••• C••••••••• E•••• S•••• T•••• M••••• F••• L••• | Hedge Fund | $13.4M | 53 | Mar 28, 2024 |
| B••••••••• C••••••••• M•• S•••• G••••• M••••• F••• L• | Private Equity Fund | $6.8M | 33 | Mar 28, 2024 |
| B••••••••• C••••••••• F••• I•• P•••••••• L• | Private Equity Fund | $6.4M | 44 | Mar 28, 2024 |
| F•••• E•• C••••••••• L•• • S••••••••• 1• | Venture Capital Fund | $3.4M | 45 | Mar 28, 2024 |
| F•••• E•• C••••••••• L•• • H•••• | Venture Capital Fund | $2.3M | 35 | Mar 28, 2024 |
| F•••• E•• C••••••••• L•• • B•••••• 1• | Venture Capital Fund | $2.0M | 25 | Mar 28, 2024 |
| F•••• E•• C••••••••• L•• • U••••• 1• | Venture Capital Fund | $1.3M | 19 | Mar 28, 2024 |
| F•••• E•• C••••••••• L•• • P••••• | Venture Capital Fund | $1.1M | 15 | Mar 28, 2024 |
| F•••• E•• C••••••••• L•• • F••••••• | Venture Capital Fund | $1.1M | 18 | Mar 28, 2024 |
| F•••• E•• C••••••••• L•• • C••••••••• 1• | Venture Capital Fund | $978,603 | 13 | Mar 28, 2024 |
| F•••• E•• C••••••••• L•• • B••• 1• | Venture Capital Fund | $965,250 | 17 | Mar 28, 2024 |
| F•••• E•• C••••••••• L•• • Y••••• C••• F•••••••• | Venture Capital Fund | $669,500 | 0 | Mar 28, 2024 |
| F•••• E•• C••••••••• L•• • B•• G•••• H••••••• | Venture Capital Fund | $578,128 | 8 | Mar 28, 2024 |
| F•••• E•• C••••••••• L•• • I••••••• A••••• | Venture Capital Fund | $16,980 | 25 | Mar 28, 2024 |
| F•••• E•• C••••••••• L•• • W••• 1• | Venture Capital Fund | $194 | 10 | Mar 28, 2024 |
| B••••••••• C••••••••• F••• V•••• L• | Private Equity Fund | $0 | 0 | Mar 28, 2024 |
| B••••••••• C••••••••• F••• V•••• L• | Private Equity Fund | $0 | 0 | Mar 28, 2024 |
Owners and control persons
Schedule A and B, latest filing
- D••••• A••••• · M••••••, Limited Partner Operationscontrolsince 04/2021 · owns 50% to 75%
- L• M••••• M••••••• C••••• · M••••••, Limited Partnercontrolsince 04/2021 · owns 50% to 75%
Entity owners
- B••••••••• C••••••••• P••••••• · Generaldirect · owns 75% or more
Related persons
Schedule D 7.A
No related person reported.
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- many private funds relative to firm sizeStatic outlier · filing Mar 31, 2026private funds per $1B of RAUM of 146.6 against a peer median of 20.7 (712 comparable advisers, 98.0th percentile, 9.6 robust deviations)peers: ASSET_M••••••, $100M to $500M (712) · 98% percentile
What changed
consecutive filings, newest first
- Accounts · 22 to 31Oct 6, 2025 to Mar 31, 2026
- Business name · B••••••••• C••••••••• M••••••• L• to F•••• E•• P••••••• L•Oct 6, 2025 to Mar 31, 2026
- Pooled vehicle clients · 22 to 31Oct 6, 2025 to Mar 31, 2026
- Private funds · 22 to 27Oct 6, 2025 to Mar 31, 2026
- Discretionary RAUM · $172M to $184MOct 6, 2025 to Mar 31, 2026
- Pooled vehicle RAUM · $172M to $184MOct 6, 2025 to Mar 31, 2026
- RAUM · $172M to $184MOct 6, 2025 to Mar 31, 2026
- Legal name · B••••••••• C••••••••• M••••••• L• to F•••• E•• P••••••• L•Aug 6, 2025 to Oct 6, 2025
Signals
No event on the tape.
Across DFX
shared identifiers only, never a name match
- B••••••••• C••••••••• M••••••• L• · Private Equityshared crd · organization
- B••••••••• C••••••••• M••••••• L• · Venture Capitalshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/fifth-erareportedpublic record, Form ADV, Sep 18, 2026
- Website
- fifthera.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 415-994-4320reportedpublic 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