DFX Intelligence
Vatn Systems, Inc.
As of · the latest observation of this company; each round carries its own date
Form D industry: Other Technology
As of · the latest observation of this company; each round carries its own date
1 additional officer or director, 11 additional investors
Every relationship, signal and contact on this record, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What matters now
- $60Mannounced
Announced a Series A ($60M round) on 10 Dec 2025.
A company that just raised has fresh capital, a new board and new vendors to choose.
FactPress release wires (PR Newswire, GlobeNewswire)For Investors, lenders, service providersFinancing history → - 14 investorsnamed
14 investors on record;
The investors already on the cap table shape who leads the next round.
- 4 directorsboard
4 directors on record from Form D filings and board-seat attributions.
The board is who decides on the next round and on a sale.
Drawing the relationship network…
Facts
Financing history
2 rounds
- Dec 10, 2025Series A · $60.0M (disclosed)Bvvc (lead) via Joe MusselmanAV Capital Management, L.L.C. (participant)Dauntless Ventures (participant)Trousdale Ventures (participant)DYNE Ventures (participant)Propeller Ventures (participant)Decisive Point Ventures (participant)SAIC Ventures (participant)Centre Street Partners (participant)Cubit Capital (participant)Geodesic Capital (participant)Fact Press release · “Vatn Systems Raises $60 Million Series A to Redefine Underwater Naval Warfare at Scale”
- Oct 9, 2024Form D equity offering · $15.5M (form d sold) · 38 investorsFact Form D · “Vatn Systems, Inc. filed Form D: $15,519,964 sold of $15,519,964, Other Technology”
Who would invest
How comparable investors are foundComparable investors backed two or more of the companies this company’s own investors also back. Broader fit co-invested two or more times with them and dated a new company in the last 12 months. Each reason is a fact on record: a shared company, a co-investment count, a dated deal, a stage or round size it has joined. A shared sector alone never puts a firm here. Nothing is a prediction that a firm will invest.14 investors on record, then the firms most like them
Already invested
14 investors on record- Geodesic Investments, L.L.C portfolio listing Fact geodesiccap.com
- Blue Collective, LLC portfolio listing Fact bluecollective.com
- Champion Hill Labs, LLC portfolio listing Fact championhillventures.com
Strong comparable investors
0 firmsFirms that backed two or more of the companies this company's own investors also back.
No firm backed two or more of the companies this company's investors back, so there is no comparable investor on record yet.
Broader fit
7 firmsFirms that co-invest repeatedly with this company's investors and dated a new company in the last 12 months.
- Sequoia Capital
- Co-invested 10 times with 1 of this company's investors
- Has entered companies at Series A (1 on record)
- Has joined rounds of $50M to $150M (2 on record)
- Invests in Hardware and deep tech and Software
- 12 new companies dated in the last 12 months, latest Sep 11, 2026
- Institutional Venture
- Co-invested 8 times with 1 of this company's investors
- Has joined rounds of $50M to $150M (1 on record)
- Invests in Hardware and deep tech and Software
- 1 new company dated in the last 12 months, latest Jul 29, 2026
- 6 funds raising or deploying (newest vintage 2024)
- Sapphire Ventures, LLC
- Co-invested 8 times with 1 of this company's investors
- Has joined rounds of $50M to $150M (7 on record)
- Invests in Hardware and deep tech and Software
- 5 new companies dated in the last 12 months, latest Jun 11, 2026
- Led 33% of 6 rounds whose lead is known
+4 more broader-fit firms
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Ownership and outcomes
How these are wordedA company a buyout or growth firm lists on its own site is “listed in the portfolio of”, never “acquired by”. A date prints only when a deal record gives one; otherwise the row says when DFX first saw it.none on record
Outcome stated by investors
Listed on 3 firm portfolio pages; none states an outcome (acquired, public, exited or active). DFX does not assume the company is active.
Evidence: 3 listingseach firm's own card, as read
- Status not stated on Geodesic Investments, L.L.C · the firm's card prints no outcome · read Oct 1, 2026 geodesiccap.com“Vatn Systems”
- Status not stated on Blue Collective, LLC · the firm's card prints no outcome · read Sep 16, 2026 bluecollective.com“VATN SYSTEMS”
- Status not stated on Champion Hill Labs, LLC · the firm's card prints no outcome · read Sep 16, 2026 championhillventures.com“VATN”
No later owner or exit on record: no private equity sponsor position and no acquisition, listing or IPO report names this company.
Credit relationships
How a loan is matchedA BDC reports its loans by borrower name. A position shows here only when the match passed a precision gate (a hand-labelled sample was 29 of 30 correct); the tier and confidence are printed on each row. Amounts are the lender’s reported position, never a round.none on record
No lender position matched to this company.
People
1 officer, 4 directors
- Nelson Mills Executive Officer/Director sec.gov
- Geoffrey Manchester Director Fact
- Thomas Hennessey Director Fact
- Frederick Mills Director Fact
Timeline
2 events
- Dec 10, 2025Vatn Systems announced Series A of $60,000,000, led by BVVCRound announced Fact Press release
- Dec 3, 2024Vatn Systems, Inc. filed Form D: $15,519,964 sold of $15,519,964, Other TechnologyForm D filed Fact Form D
Evidence
21 observations
Every observation on this company
- Entity type: Corporation Dec 3, 2024 Fact Form D
- Form D industry group: Other Technology Dec 3, 2024 Fact Form D
- Amendment: false Dec 3, 2024 Fact Form D
- Revenue range (Form D): Decline to Disclose Dec 3, 2024 Fact Form D
- Incorporated: withinFiveYears Dec 3, 2024 Fact Form D
- Jurisdiction: Delaware Dec 3, 2024 Fact Form D
- Amount sold (Form D): $15.5M Dec 3, 2024 Fact Form D
- Offering amount (Form D): $15.5M Dec 3, 2024 Fact Form D
- Exemptions: 06b Dec 3, 2024 Fact Form D
- First sale: 2024-10-09 Dec 3, 2024 Fact Form D
- Investors (Form D): 38 Dec 3, 2024 Fact Form D
- Minimum investment (Form D): 0 Dec 3, 2024 Fact Form D
- Securities offered: equity Dec 3, 2024 Fact Form D
- Office address: Dec 3, 2024 Fact Form D
- Listed on portfolio page: Oct 1, 2026 Fact
- Listed on portfolio page: Blue Collective, LLC Sep 16, 2026 Fact Firm website
- Listed on portfolio page: Sep 16, 2026 Fact Firm website
- Listed on portfolio page: Blue Collective, LLC Sep 15, 2026 Fact Firm website
- Round announced: Series A $60,000,000 Dec 10, 2025 Fact Press release
- Website status: redirected:vatn.com Sep 29, 2026 Fact
- Year of incorporation: 2023 Dec 3, 2024 Fact Form D
Record history
2 dated events on the change ledger, latest event first
- Round announced2025-12-10source on record
- Form D filed2024-12-03source on record
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.