DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
Firms / Costanoa Ventures
Costanoa Ventures
Multi-stage venture firmPalo Alto, CAcostanoavc.comSEC venture capital fund adviserfundraising evidence
Costanoa Ventures is a Seed and Series A venture firm founded in 2012, backing applied AI, cybersecurity, fintech, and national security companies with ~$2.8B AUM.
both early and growth/opportunity families, reported GAV $2,011M
Importance
56
elevated
Active deployment
90
high
Emerging
0
low
Completeness
81
high
Freshness
100
high
Research priority
28
moderate
Identity and regulatory footprint
- Headquarters
- Palo Alto, CAadviserinfo.sec.gov
- Office address
- 160 FOREST AVENUE, Palo Alto, CA, 94301adviserinfo.sec.gov
- Business phone
- 650-388-9310adviserinfo.sec.gov
- Website
- HTTP://COSTANOAVC.COM
- SEC adviser type
- exempt reporting adviseradviserinfo.sec.gov
- SEC exemption claimed
- venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
- Latest Form ADV
- Mar 27, 2026
- Private funds reported
- 12 (12 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $2.6Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business email
- info@costanoa.vccostanoa.vcpublished by the subject
- business phone
- 650-388-9310adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
9 observed deals
Stated (the firm’s website)
- Sectors
- ai, enterprise software, healthcare, defense, media
- Stages
- series b, early
- Geography
- not stated
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- venture capital
Observed (from deals on record)
Stage at participation
series a 67%series b 33%
Stage at first entry
series a 67%series b 33%
Sectors
unknown 75%Other Technology 25%
lead rate 88%follow-on rate 0%new logos, 12 months 9
Funds and vehicles
15 reported, 1 no longer reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Costanoa FP II, L.P. | Fund | 2025 form d first sale | Newly closed | unknown | unknown | $2.0M of $2.0M | Oct 24, 2025 |
| Costanoa Ventures V, L.P. | Fund | 2024 adv first reported | Early deployment | $258M Mar 28, 2024 | 111 | $0 of $225M | Feb 23, 2023 |
| Costanoa Ventures Opportunity Fund III, L.P. | Opportunity fund | 2024 adv first reported | Early deployment | $82.9M Mar 28, 2024 | 71 | $0 of $175M | Feb 23, 2023 |
| Costanoa Fp, L.P. | Fund | 2023 form d first sale | Active deployment | $2.0M Mar 28, 2024 | 2 | $2.0M of $2.0M | May 31, 2023 |
| Costanoa Ventures IV, L.P. | Fund | 2020 form d first sale | Mature | $243M Mar 28, 2024 | 148 | $225M of $225M | Oct 8, 2021 |
| Costanoa Ventures Opportunity Fund II, L.P. | Opportunity fund | 2020 form d first sale | Mature | $143M Mar 28, 2024 | 207 | $115M of $115M | Oct 8, 2021 |
| Costanoa Ventures Opportunity Fund, L.P. | Opportunity fund | 2019 adv first reported | Mature | $140M Mar 28, 2024 | 196 | $0 of $75.0M | Apr 18, 2018 |
| Costanoa Ventures III, L.P. | Fund | 2018 adv first reported | Harvest | $485M Mar 28, 2024 | 89 | $0 of $175M | Jun 7, 2017 |
| Costanoa Venture Capital II, L.P. | Fund | 2015 adv first reported | Harvest | $340M Mar 28, 2024 | 262 | $0 of $135M | Jun 19, 2014 |
| Costanoa Venture Capital Qz, LLC | Fund | 2015 form d first sale | Harvest | $38.2M Mar 28, 2024 | 4 | $3.3M of $3.3M | Oct 29, 2015 |
| Costanoa Venture Capital Growth Fund, L.P. | Growth fund | 2014 adv first reported | Harvest | $76.5M Mar 28, 2024 | 156 | $0 of $65.0M | Jun 24, 2013 |
| Costanoa Venture Capital I, L.P. | Fund | 2012 form d first sale | Harvest | $202M Mar 28, 2024 | 129 | $112M of $112M | Dec 13, 2012 |
| Costanoa Ivy, LLC | Fund | unknown | Fundraising | unknown | unknown | $0 | Jun 30, 2026 |
| Costanoa Ventures VI, L.P. | Fund | unknown | Fundraising | unknown | unknown | $0 of $300M | Feb 19, 2026 |
| Costanoa Ascent Fund IV, L.P. | Fund | unknown | Fundraising | unknown | unknown | $0 of $150M | Feb 19, 2026 |
| Costanoa Venture Capital Rp Co-Investment Fund, LLC | SPV or co-invest vehicle | 2014 adv first reported | Wound down | $194,482 Mar 29, 2020 | 10 | unknown | unknown |
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
18 current, 0 departed
Greg Sands
Managing partnerFounder and Managing Partner
Gregory P Sands
Managing partnerManaging Member Of Costanoa Venture Partners (Opportunity Fund) Iii, Llc · since Feb 1, 2023
Gregory P Sands
Managing partnerManaging Member Of Costanoa Venture Capital Partners I, Llc · since Jun 1, 2013
Gregory P Sands
Managing partnerManaging Member Of Costanoa Venture Capital Partners Ii, Llc · since Jun 1, 2014
Gregory P Sands
Managing partnerManaging Member Of Costanoa Venture Partners Iii, Llc · since Jun 1, 2017
Gregory P Sands
Managing partnerManaging Member Of Costanoa Venture Partners (Opportunity Fund), Llc · since Apr 1, 2018
Gregory P Sands
Managing partnerManaging Member Of Costanoa Venture Partners Iv, Llc · since Mar 1, 2020
Gregory P Sands
Managing partnerManaging Member Of Costanoa Venture Partners (Opportunity Fund) Ii, Llc · since Mar 1, 2020
Gregory P Sands
Managing partnerManaging Member · since Feb 1, 2012
Gregory P Sands
Managing partnerManaging Member Of Costanoa Venture Partners V, Llc · since Feb 1, 2023
Gregory P Sands
Managing partnerManaging Member Of Costanoa Venture Partners (Opportunity Fund) Iii, Llc · since Feb 1, 2023
Gregory P Sands
Managing partnerManaging Member Of Costanoa Venture Capital Partners · since Jun 1, 2013
AMY Cheetham
PartnerPartner
John . Cowgill
PartnerMember · since Jan 1, 2024
Mark Selcow
PartnerMember · since Jan 1, 2020
Mark Selcow
PartnerMember · since Jan 1, 2020
Michael Douglas Albang
Platform and operationsChief Financial Officer · since Oct 1, 2019
Michael Douglas Albang
Platform and operationsChief Financial Officer · since Oct 1, 2019
Investments on record
9 edges, 8 companies, 4 partner-attributed
“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.
Co-investors
16 relationships from shared deals, counted for the whole firm
Upper90 1 shared · one time · we led 1Montage Ventures 1 shared · one time · we led 1CVS Health Ventures 1 shared · one time · we led 1Flare Capital Management Company, LLC 1 shared · one time · we led 1Intact Private Capital 1 shared · one time · they led 1Spark Capital 1 shared · one timeFresh Fund 1 shared · one time · we led 1Viola 1 shared · one time · we led 1Seguin Ventures 1 shared · one time · we led 1Moneta VC 1 shared · one time · we led 1Carte Verte Management LLC 1 shared · one time · we led 1Town Hall Ventures, LLC 1 shared · one time · we led 1Box Group 1 shared · one time · we led 1Stage 2 Capital Advisors 1 shared · one time · we led 1Khosla Ventures, LLC 1 shared · one time · we led 1Bessemer Venture Partners 1 shared · one time · we led 1
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
16 dated events
- Mar 28, 2024Costanoa Fp, L.P. first reported on Form ADV by Costanoa Ventures (Venture Capital Fund), GAV $2,002,162Fund first reported on Form ADVFundsFactCostanoa Fp, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Costanoa Ventures Opportunity Fund III, L.P. first reported on Form ADV by Costanoa Ventures (Venture Capital Fund), GAV $82,863,721Fund first reported on Form ADVFundsFactCostanoa Ventures Opportunity Fund III, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Costanoa Ventures V, L.P. first reported on Form ADV by Costanoa Ventures (Venture Capital Fund), GAV $258,368,233Fund first reported on Form ADVFundsFactCostanoa Ventures V, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2021Costanoa Ventures IV, L.P. first reported on Form ADV by Costanoa Ventures (Venture Capital Fund), GAV $105,618,754Fund first reported on Form ADVFundsFactCostanoa Ventures IV, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2021Costanoa Venture Capital Rp Co-Investment Fund, LLC no longer reported on Form ADV by Costanoa Ventures
- Mar 30, 2021Costanoa Ventures Opportunity Fund II, L.P. first reported on Form ADV by Costanoa Ventures (Venture Capital Fund), GAV $60,141,165Fund first reported on Form ADVFundsFactCostanoa Ventures Opportunity Fund II, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jan 1, 2020Mark Selcow joined Schedule A of Costanoa Ventures as Member
- Oct 1, 2019Michael Douglas Albang joined Schedule A of Costanoa Ventures as Chief Financial Officer
- Mar 27, 2019Costanoa Ventures Opportunity Fund, L.P. first reported on Form ADV by Costanoa Ventures (Venture Capital Fund), GAV $75,271,679Fund first reported on Form ADVFundsFactCostanoa Ventures Opportunity Fund, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 26, 2018Costanoa Ventures III, L.P. first reported on Form ADV by Costanoa Ventures (Venture Capital Fund), GAV $173,302,390Fund first reported on Form ADVFundsFactCostanoa Ventures III, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 25, 2016Costanoa Venture Capital Qz, LLC first reported on Form ADV by Costanoa Venture Capital (Venture Capital Fund), GAV $3,297,474Fund first reported on Form ADVFundsFactCostanoa Venture Capital Qz, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2015Costanoa Venture Capital II, L.P. first reported on Form ADV by Costanoa Venture Capital (Venture Capital Fund), GAV $115,910,384Fund first reported on Form ADVFundsFactCostanoa Venture Capital II, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2014Costanoa Venture Capital Rp Co-Investment Fund, LLC first reported on Form ADV by Costanoa Venture Capital (Venture Capital Fund), GAV $25,559,000Fund first reported on Form ADVFundsFactCostanoa Venture Capital Rp Co-Investment Fund, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2014Costanoa Venture Capital Growth Fund, L.P. first reported on Form ADV by Costanoa Venture Capital (Venture Capital Fund), GAV $75,246,199Fund first reported on Form ADVFundsFactCostanoa Venture Capital Growth Fund, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Aug 7, 2012Costanoa Venture Capital I, L.P. first reported on Form ADV by Costanoa Venture Capital Management, LLC (Venture Capital Fund), GAV $99,635,480Fund first reported on Form ADVFundsFactCostanoa Venture Capital I, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Aug 7, 2012Costanoa Venture Capital Management, LLC first filed Form ADV (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 12, 2026Multi-stage venture firm (confirmed, 95%, cls-1)both early and growth/opportunity families, reported GAV $2,011M
Evidence
56 observations from 4 sources