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 / Unless Management LP
Unless Management LP
Private equity with venture activity · probableBoulder, COunlesspartners.comSEC registered investment adviser
registered adviser; venture funds are 0% of 3 private funds
Importance
26
moderate
Active deployment
30
moderate
Emerging
0
low
Completeness
50
elevated
Freshness
100
high
Research priority
14
low
Identity and regulatory footprint
- Headquarters
- Boulder, COadviserinfo.sec.gov
- Office address
- 1120 1/2 PINE STREET, Boulder, CO, 80302-5236adviserinfo.sec.gov
- Business phone
- 7206631211adviserinfo.sec.gov
- SEC adviser type
- registered investment adviseradviserinfo.sec.gov
- SEC exemption claimed
- private fund adviseradviserinfo.sec.gov
- Latest Form ADV
- Jul 17, 2026
- Private funds reported
- 3 (1 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $247Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Regulatory AUM
- $253Mthe adviser's RAUM, a regulatory measure, never a fund size
- Employees
- 4
- business email
- hello@unless.counless.copublished by the subject
- business phone
- 7206631211adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
21 observed deals
Stated (the firm’s website)
- Sectors
- climate, energy, hardware, robotics, logistics, industrial
- Stages
- not stated or not yet read
- Geography
- global
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- venture capital
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
unknown 90%Other 5%Other Technology 5%
lead rate 0%follow-on rate 0%new logos, 12 months 21
Funds and vehicles
1 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Unless Ventures LP | Fund · ADV: Other Private Fund | 2022 form d first sale | Fundraising | $79.0M Jan 3, 2024 | 58 | $145M | Jan 2, 2026 |
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
4 current, 0 departed
Trevor Zimmerman
Founder or executiveChief Executive Officer · since Jan 1, 2022
David Mindell
OtherLead For Collective Of Experts · since Jan 1, 2022
Aaron David Marsh
Platform and operationsChief Financial Officer · since Jan 1, 2022
Patricia Jane Rogers
Platform and operationsGeneral Counsel And Chief Compliance Officer · since Jan 1, 2022
Investments on record
21 edges, 20 companies, 0 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
40 relationships from shared deals, counted for the whole firm
DFJ Growth 2 shared · recurringSpace Angels 2 shared · recurringWestern Technology Investment (wti) 2 shared · recurringFlybridge Capital Partners 1 shared · one timeJ2 Ventures Advisors, LLC 1 shared · one timeStory Ventures 1 shared · one timePear Ventures Management, LLC 1 shared · one timeCompound Advisors, LLC 1 shared · one timeKairos Managers, LLC 1 shared · one timeGrandBanks Capital 1 shared · one timeHOF Capital 1 shared · one timeTAU Ventures, LLC 1 shared · one timeScribble Ventures Management, LLC 1 shared · one timeAvenir Management Company, LLC 1 shared · one timeFontinalis Partners, LLC 1 shared · one timeUncommon Denominator Management LLC 1 shared · one timeKonvoy 1 shared · one timeHabitat Partners Management LLC 1 shared · one timePA Capital Management LLC 1 shared · one timeShrug, LLC 1 shared · one timeMighty Capital Management LLC 1 shared · one timeTritium Partners 1 shared · one timeBlackbird Ventures Pty Ltd. 1 shared · one timeVeronorte S.A.S 1 shared · one timeOrei Advisors LP 1 shared · one timeZelkova Management, LLC 1 shared · one timeK50 Ventures 1 shared · one timeHivemind Capital Partners LLC 1 shared · one timeCresta Fund Management LLC 1 shared · one timeGreenridge Growth Partners 1 shared · one timeFTV Capital 1 shared · one timeArctaris Impact Investors 1 shared · one timeNSV Management LLC 1 shared · one timeSofinnova Investments, Inc. 1 shared · one timeLAS Olas Venture Capital 1 shared · one timeSamsara Biocapital, LLC 1 shared · one timeFGC Management Co., LLC 1 shared · one timeRice Park Capital 1 shared · one time4x4 Capital 1 shared · one timePlural Uk Management 1 shared · one time
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
10 dated events
- Sep 16, 2026Supplying autonomy technology for aviation. no longer listed on Unless Management LP's portfolio pageRemoved from portfolio pagePortfolioInferenceSupplying autonomy technology for aviation.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Building housing supply at the speed of offsite construction. no longer listed on Unless Management LP's portfolio pageRemoved from portfolio pagePortfolioInferenceBuilding housing supply at the speed of offsite construction.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Creating resilient and secure domestic supply chains. no longer listed on Unless Management LP's portfolio pageRemoved from portfolio pagePortfolioInferenceCreating resilient and secure domestic supply chains.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Purpose Built Generative AI systems. no longer listed on Unless Management LP's portfolio pageRemoved from portfolio pagePortfolioInferencePurpose Built Generative AI systems.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Renewably generating the lowest-cost electrons on Earth. no longer listed on Unless Management LP's portfolio pageRemoved from portfolio pagePortfolioInferenceRenewably generating the lowest-cost electrons on Earth.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Advanced manufacturing for the real world. no longer listed on Unless Management LP's portfolio pageRemoved from portfolio pagePortfolioInferenceAdvanced manufacturing for the real world.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Unlocking artificial touch for seamless human-computer interfaces. no longer listed on Unless Management LP's portfolio pageRemoved from portfolio pagePortfolioInferenceUnlocking artificial touch for seamless human-computer interfaces.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 12, 2026Unless Management LP: CANDIDATE_VC -> PE_WITH_VENTURE_ACTIVITY (registered adviser; venture funds are 0% of 3 private funds)Classification changedClassificationInferenceno URL
- Mar 7, 2022Unless Management LP 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)
- Mar 7, 2022Unless Ventures LP first reported on Form ADV by Unless Management LP (Venture Capital Fund), GAV $5,300,000Fund first reported on Form ADVFundsFactUnless Ventures LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 12, 2026Private equity with venture activity (probable, 75%, cls-1)registered adviser; venture funds are 0% of 3 private funds
- Sep 12, 2026Candidate (candidate, 50%, cls-1)no sworn venture fact yet (name or round mention only)
Evidence
48 observations from 3 sources