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 / Watchfire Ventures, LLC
Watchfire Ventures, LLC
Multi-stage venture firmMontecito, CAwatchfireventures.comSEC venture capital fund adviserfundraising evidence
Watchfire Ventures
both early and growth/opportunity families, reported GAV $76M
Importance
16
moderate
Active deployment
35
elevated
Emerging
0
low
Completeness
69
high
Freshness
100
high
Research priority
11
low
Identity and regulatory footprint
- Headquarters
- Montecito, CAadviserinfo.sec.gov
- Office address
- 1187 COAST VILLAGE ROAD, #478, Montecito, CA, 93108adviserinfo.sec.gov
- Business phone
- 805-203-6537adviserinfo.sec.gov
- 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 11, 2026
- Private funds reported
- 6 (6 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $130Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business email
- contact@watchfireventures.comwatchfireventures.compublished by the subject
- business phone
- 805-203-6537adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
no observed deals yet
Stated (the firm’s website)
- Sectors
- consumer, devtools, industrial
- Stages
- early
- Geography
- not stated
- Check size
- not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors: no observed deals yet
lead rate n/afollow-on rate n/anew logos, 12 months 0
Funds and vehicles
4 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Watchfire Ventures Fund II, L.P. | Fund | 2022 form d first sale | Active deployment | $43.4M Mar 20, 2024 | 109 | $39.9M of $50.0M | May 31, 2023 |
| Watchfire Spv Oo, L.P. | SPV or co-invest vehicle | 2022 form d first sale | Active deployment | $2.4M Mar 20, 2024 | 19 | $2.0M of $2.0M | Mar 16, 2022 |
| Watchfire Ventures Fund I, L.P. | Growth fund | 2018 form d first sale | Harvest | $30.3M Mar 20, 2024 | 74 | $20.3M | Apr 14, 2020 |
| Watchfire Ventures Fund III, L.P. | Fund | unknown | Fundraising | unknown | unknown | $0 of $150M | Nov 20, 2025 |
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
2 current, 0 departed
Patrick Martin Dillingham
Managing partnerManaging Partner · since Mar 1, 2020
Sean Michael Koffel
Managing partnerManaging Partner · since Mar 1, 2020
Investments on record
0 edges, 0 companies, 0 partner-attributed
No investment on record yet. Edges arrive from the firm’s portfolio page, financing announcements, and Form D board seats.
Co-investors
0 relationships from shared deals, counted for the whole firm
No co-investor relationship yet: these are derived only from rounds and portfolio listings the graph has seen both investors on.
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
5 dated events
- Sep 15, 2026Watchfire Ventures, LLC: INSTITUTIONAL_VC -> MULTI_STAGE_VC (both early and growth/opportunity families, reported GAV $76M)Classification changedClassificationInferenceno URL
- Mar 31, 2023Watchfire Ventures, 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)
- Mar 31, 2023Watchfire Spv Oo, L.P. first reported on Form ADV by Watchfire Ventures, LLC (Venture Capital Fund), GAV $2,364,978Fund first reported on Form ADVFundsFactWatchfire Spv Oo, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2023Watchfire Ventures Fund I, L.P. first reported on Form ADV by Watchfire Ventures, LLC (Venture Capital Fund), GAV $22,901,187Fund first reported on Form ADVFundsFactWatchfire Ventures Fund I, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2023Watchfire Ventures Fund II, L.P. first reported on Form ADV by Watchfire Ventures, LLC (Venture Capital Fund), GAV $21,839,914Fund first reported on Form ADVFundsFactWatchfire Ventures Fund II, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 15, 2026Multi-stage venture firm (confirmed, 95%, cls-1)both early and growth/opportunity families, reported GAV $76M
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $76M across 4 vehicles
Evidence
37 observations from 3 sources