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SEC-registered adviser

N••••••• C••••••

Asset manager (funds and pooled vehicles)Menlo Park, CaliforniaCRD 333205SEC 801-131887websiteIAPD
Legal name N••••••• C•••••• L••
Latest filing Apr 1, 2026
First filing on the tape Dec 26, 2024 · 6 filings
SEC status approved since Jan 27, 2025
RAUM
$90.0M
reported, Item 5.F
Discretionary
89%
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
4
3 advisory (5.B.1)
Offices
5
beyond the principal office
Private funds
1
reported on Schedule D
History
6 filings and snapshots on the tape
RAUM$90.0M as of Apr 1, 2026
Jan 6, 2025$80.0M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Apr 1, 2026
Jan 6, 20250 then
Employees (5.A)4 as of Apr 1, 2026
Jan 6, 20257 then
Private funds1 as of Apr 1, 2026
Jan 6, 20251 then
RAUM +13% over the last fiscal yearIARs 0 to 0offices 0 to 5
Practice profile
derived from the filing of Apr 1, 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
$45.0MderivedRAUM over accounts (5.F.2.f)
Discretionary
89%derivedof RAUM
Institutional
11%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived6 offices incl. principal (1.F.5)
RAUM growth, one year
+13%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 businesses and institutions, portfolio management for pooled vehiclesreportedItem 5.G
Custody
yesreportedItem 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)
  • 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)
  • marketing includes testimonials (5.L.1.c)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$80.0M89%
  • Charitable organizations$10.0M11%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
2reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$0 for 0 clientsreported
Compensation
% of AUM, performancereported
Class basis
private_client_share=0.0 fund_share=0.89 institutional_share=0.11 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
      Every departureEvery arrival
      Private funds
      1 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      N••••••• F••• I• L•Venture Capital Fund$80.0M3Dec 26, 2024
      Owners and control persons
      Schedule A and B, latest filing
      • D•••••• A••• B••••• · Manager / Chief Compliance Officercontrol
        since 09/2024 · owns less than 5%
      • W•••••• E••••••• W•••••••• · Managercontrol
        since 09/2024 · owns less than 5%
      • D•••••• A••• B••••• · Managing Membercontrol
        since 09/2024 · owns 75% or more of A••••• C•••••• M••••••••• L••
      • S••• K•••••••• N•• · Manager
        since 09/2024 · owns less than 5%
      Entity owners
      • A••••• C•••••• M••••••••• L•• · Member
        direct · owns 75% or more
      • C••••••••• L•• · Member
        direct · owns 25% to 50%
      Related persons
      Schedule D 7.A
      • N••••••• F••• I• G•• L••
        pooled 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
      • high institutional concentrationStatic outlier · filing Apr 1, 2026
        institutional share of RAUM of 11% against a peer median of 0% (139 comparable advisers, 99.0th percentile, 3.7 robust deviations)
        peers: asset managers, under $100M (139) · 99% percentile
      How anomalies are measured
      What changed
      consecutive filings, newest first
      • Advisory employees · 5 to 3
        Dec 8, 2025 to Apr 1, 2026
      • Employees · 5 to 4
        Dec 8, 2025 to Apr 1, 2026
      • Other offices · 4 to 5
        Dec 8, 2025 to Apr 1, 2026
      • Advisory employees · 6 to 5
        May 20, 2025 to Sep 5, 2025
      • Employees · 6 to 5
        May 20, 2025 to Sep 5, 2025
      • HQ city · PALO ALTO to MENLO PARK
        May 20, 2025 to Sep 5, 2025
      • Other offices · 5 to 4
        May 20, 2025 to Sep 5, 2025
      • Accounts · 1 to 2
        Jan 6, 2025 to May 20, 2025
      • Advisory employees · 7 to 6
        Jan 6, 2025 to May 20, 2025
      • Advisory activities · 1 to 2
        Jan 6, 2025 to May 20, 2025
      • Assets in custody · unset to 0.0
        Jan 6, 2025 to May 20, 2025
      • Custody of client assets · false to true
        Jan 6, 2025 to May 20, 2025
      • Employees · 7 to 6
        Jan 6, 2025 to May 20, 2025
      • Financial planning clients · unset to
        Jan 6, 2025 to May 20, 2025
      • Other offices · 0 to 5
        Jan 6, 2025 to May 20, 2025
      • Non-discretionary RAUM · $0 to $10.0M
        Jan 6, 2025 to May 20, 2025
      • RAUM · $80.0M to $90.0M
        Jan 6, 2025 to May 20, 2025
      • Related adviser · false to true
        Dec 26, 2024 to Jan 6, 2025
      Signals
      2 dated events
      • N••••••• C•••••• reported 5 offices beyond its principal office, up from 0 (2025-01-06 to 2025-05-20)
        May 20, 2025 · Office count change · derived
      • N••••••• C•••••• filed its initial SEC registration (Form ADV)
        Dec 26, 2024 · First SEC registration · fact
      Across DFX
      shared identifiers only, never a name match
      How to reach
      public business contact points only, each with its source
      Firm profile
      linkedin.com/company/novawavecapreportedpublic record, Form ADV, Sep 21, 2026
      Website
      n•••••••••.comreportedpublic record, Form ADV, Sep 21, 2026
      Principal office phone
      781-710-3455reportedpublic record, Form ADV, Apr 1, 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