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
P••••• B•• M••••••••• L••
Latest filing Mar 23, 2026
First filing on the tape Oct 17, 2022 · 8 filings
SEC status approved since Dec 8, 2022
RAUM
$247M
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
7
6 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
4
reported on Schedule D
History
8 filings and snapshots on the tape
RAUM$247M as of Mar 23, 2026
Mar 31, 2023$109M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 23, 2026
Mar 31, 20230 then
Employees (5.A)7 as of Mar 23, 2026
Mar 31, 20235 then
Private funds4 as of Mar 23, 2026
Mar 31, 20231 then
RAUM +88% over the last fiscal year+31% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 23, 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
- $49.5MderivedRAUM 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
- +88%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, portfolio management for investment companiesreportedItem 5.G
- Custody
- $172M, 4 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 discretionary authority over which securities are bought or sold (8.C.1)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$172M70%
- Investment companies$75.3M30%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 5reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $172M for 4 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
3 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| P••••• B•• P•••••••• L••• | Venture Capital Fund | $44.4M | 14 | Oct 17, 2022 |
| P• S•••• L•• | Other Private Fund | $12.5M | 5 | Jul 9, 2024 |
| P••••• B•• S•• 2• L•• | Other Private Fund | $0 | 5 | Mar 25, 2024 |
Owners and control persons
Schedule A and B, latest filing
- H••• X•• · Chief Compliance Officercontrolsince 03/2024 · owns less than 5%
- K••••• L••• · Managing General Partnercontrolsince 01/2022 · 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
- RAUM up 50 %Change between filings · filing Mar 23, 2026RAUM (Item 5.F) moved from $131,358,834 to $247,496,668 (+88.0%) between the annual amendments of 2025-03-25 and 2026-03-23; the peer median change was +4.0% (1148 comparable advisers, 96.0th percentile of changes)peers: asset managers, $100M to $500M (1,148) · 96% percentile
What changed
consecutive filings, newest first
- Assets in custody · $60.0M to $172MDec 2, 2025 to Mar 23, 2026
- Private funds · 5 to 4Dec 2, 2025 to Mar 23, 2026
- Discretionary RAUM · $131M to $247MDec 2, 2025 to Mar 23, 2026
- Pooled vehicle RAUM · $60.0M to $172MDec 2, 2025 to Mar 23, 2026
- RAUM · $131M to $247MDec 2, 2025 to Mar 23, 2026
- Private funds · 4 to 5Mar 25, 2025 to Dec 2, 2025
- Accounts · 4 to 5Jul 9, 2024 to Mar 25, 2025
- Advisory employees · 5 to 6Jul 9, 2024 to Mar 25, 2025
- Pooled vehicle clients · 1 to 4Jul 9, 2024 to Mar 25, 2025
- Assets in custody · $40.5M to $60.0MJul 9, 2024 to Mar 25, 2025
- Employees · 6 to 7Jul 9, 2024 to Mar 25, 2025
- Financial planning clients · unset to Jul 9, 2024 to Mar 25, 2025
- Private funds · 3 to 4Jul 9, 2024 to Mar 25, 2025
- Discretionary RAUM · $149M to $131MJul 9, 2024 to Mar 25, 2025
- Pooled vehicle RAUM · $56.9M to $60.0MJul 9, 2024 to Mar 25, 2025
- RAUM · $149M to $131MJul 9, 2024 to Mar 25, 2025
- Accounts · 3 to 4Mar 25, 2024 to Jul 9, 2024
- Private funds · 2 to 3Mar 25, 2024 to Jul 9, 2024
- Discretionary RAUM · $137M to $149MMar 25, 2024 to Jul 9, 2024
- Pooled vehicle RAUM · $44.4M to $56.9MMar 25, 2024 to Jul 9, 2024
- RAUM · $137M to $149MMar 25, 2024 to Jul 9, 2024
- Accounts · 2 to 3Aug 15, 2023 to Mar 25, 2024
- Advisory employees · 4 to 5Aug 15, 2023 to Mar 25, 2024
- Assets in custody · $40.0M to $40.5MAug 15, 2023 to Mar 25, 2024
- Employees · 5 to 6Aug 15, 2023 to Mar 25, 2024
- Private funds · 1 to 2Aug 15, 2023 to Mar 25, 2024
- Discretionary RAUM · $109M to $137MAug 15, 2023 to Mar 25, 2024
- Pooled vehicle RAUM · $40.0M to $44.4MAug 15, 2023 to Mar 25, 2024
- RAUM · $109M to $137MAug 15, 2023 to Mar 25, 2024
- Business name · P•• M••••••••• L•• to P••••• B•• M••••••••• L••Mar 31, 2023 to Aug 15, 2023
- Assets in custody · $29.2M to $40.0MOct 17, 2022 to Mar 31, 2023
- Employees · 4 to 5Oct 17, 2022 to Mar 31, 2023
- Legal name · P•• M••••••••• L•• to P••••• B•• M••••••••• L••Oct 17, 2022 to Mar 31, 2023
- Other offices · 1 to 0Oct 17, 2022 to Mar 31, 2023
- Discretionary RAUM · $29.2M to $109MOct 17, 2022 to Mar 31, 2023
- Pooled vehicle RAUM · $29.2M to $40.0MOct 17, 2022 to Mar 31, 2023
- RAUM · $29.2M to $109MOct 17, 2022 to Mar 31, 2023
Signals
3 dated events
- P••••• B•• M••••••••• L•• reported RAUM $247.5M, up 88% from $131.4M (2025-12-02 to 2026-03-23)Mar 23, 2026 · RAUM change · derived
- Xue Hua (Chief Compliance Officer) appeared on Schedule A of P••••• B•• M••••••••• L••Mar 25, 2024 · Control person joined · fact
- P•• M••••••••• L•• filed its initial SEC registration (Form ADV)Oct 17, 2022 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- P••••• B•• M••••••••• L•• · Venture Capitalshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/propel-bio-partners/aboutreportedpublic record, Form ADV, Sep 18, 2026
- Website
- propelbio.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 206 602 9246reportedpublic record, Form ADV, Mar 23, 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