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 / Refinery Ventures Management, LLC
Refinery Ventures Management, LLC
Institutional venture firmCincinnati, OHrefinery.comSEC venture capital fund adviseremerging managerone firm, 2 filing advisers
This firm files as 2 advisers on refinery.com: Refinery Ventures. Each keeps its own CRD, funds and filings; the grouping is the website each swore to on Form ADV and is recomputed every pass.
Refinery works with tech startup companies in emerging venture markets; providing the mentorship, resources, and venture capital support they need to build a successful business.
venture manager, reported GAV $70M across 3 vehicles
Importance
22
moderate
Active deployment
30
moderate
Emerging
69
high
Completeness
75
high
Freshness
100
high
Research priority
28
moderate
Identity and regulatory footprint
- Headquarters
- Cincinnati, OHadviserinfo.sec.gov
- Office address
- 1434 VINE STREET, 3RD FL, Cincinnati, OH, 45202adviserinfo.sec.gov
- Business phone
- 513-476-2323adviserinfo.sec.gov
- Website
- https://refinery.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
- 3 (3 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $54.7Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business email
- cold@refinery.comrefinery.compublished by the subject
- business phone
- 513-476-2323adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
17 observed deals
Stated (the firm’s website)
- Sectors
- healthcare, media
- Stages
- series a
- Geography
- ohio, silicon valley
- 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 82%Other 6%Computers 6%Other Health Care 6%
lead rate n/afollow-on rate n/anew logos, 12 months 17
Funds and vehicles
3 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Refinery Ventures Fund I, LP | Fund | 2017 form d first sale | Harvest | $38.1M Mar 27, 2024 | 41 | $10.7M of $100M | Sep 22, 2017 |
| Refinery Ventures Fund II, LP | Fund | unknown | Unknown | $31.6M Mar 27, 2024 | 59 | $0 of $35.0M | Feb 4, 2021 |
| Refinery Venture Fund III, L.P. | Fund | unknown | Unknown | unknown | unknown | $0 of $50.0M | Nov 18, 2024 |
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
3 current, 0 departed
Launch Path
Founder or executiveThe X15 Leadership Expedition is a springboard to reach new heights and unlock your greatest potential as a founder.
Participant Outcomes
Founder or executiveon your role as founder or leader
Timothy Schigel
Managing partnerManaging Partner · since Dec 1, 2023
Investments on record
17 edges, 17 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
7 relationships from shared deals, counted for the whole firm
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
1 dated events
- Mar 27, 2024Refinery Ventures 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, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $70M across 3 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $70M across 2 vehicles
Evidence
45 observations from 3 sources