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 / Carnelian Energy Capital Management, LP
Carnelian Energy Capital Management, LP
Focused investing in the North American upstream, midstream and oilfield services sectors.
venture manager, reported GAV $1,900M across 7 vehicles
Importance
42
elevated
Active deployment
29
moderate
Emerging
0
low
Completeness
75
high
Freshness
100
high
Research priority
12
low
Identity and regulatory footprint
- Headquarters
- Houston, TXadviserinfo.sec.gov
- Office address
- 2229 SAN FELIPE STREET, SUITE 1450, Houston, TX, 77019adviserinfo.sec.gov
- Business phone
- 713-322-7310adviserinfo.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 31, 2026
- Private funds reported
- 7 (7 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $2.2Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- Carnelian Partner Feeder, L.P. (Limited Partner), E; Carnelian Manager Holdings, L.P. (Limited Partner), E; Carnelian Energy Capital Management Holdings, L.P. (Limited Partner), E; Carnelian Energy Capital Holdings, LLC (General Partner), F
- business phone
- 713-322-7310adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
1 observed deals
Stated (the firm’s website)
- Sectors
- energy
- Stages
- not stated or not yet read
- 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
unknown 100%
lead rate n/afollow-on rate n/anew logos, 12 months 1
Funds and vehicles
7 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Carnelian Ridgemar Co-Invest, L.P. | SPV or co-invest vehicle | 2024 adv first reported | Early deployment | $160M Mar 28, 2024 | 12 | $0 | Jun 20, 2023 |
| Carnelian Energy Capital IV, LP | Fund | 2022 adv first reported | Active deployment | $533M Mar 28, 2024 | 59 | $0 of $750M | Nov 9, 2021 |
| Carnelian Energy Capital III, L.P. | Fund | 2019 form d first sale | Mature | $893M Mar 28, 2024 | 55 | $775M of $775M | Jul 2, 2019 |
| Carnelian Energy Capital II, L.P. | Fund | 2017 form d first sale | Harvest | $304M Mar 28, 2024 | 66 | $600M of $600M | Jun 13, 2017 |
| Carnelian Energy Capital, L.P. | Fund | unknown | Unknown | $9.3M Mar 28, 2024 | 45 | $0 of $400M | Sep 14, 2015 |
| Carnelian Energy Capital V, L.P. | Fund | unknown | Unknown | unknown | unknown | $0 of $975M | Jan 30, 2024 |
| Carnelian Acquisition & Development, L.P. | Fund | unknown | Fundraising | unknown | unknown | $0 | Oct 7, 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
22 current, 0 departed
Cade Peveto
AssociateAssociate
Megan Liu
AssociateAssociate
William Watson
AssociateAssociate
Daniel Goodman
PartnerPartner
Daniel P. Goodman
PartnerPartner · since Sep 1, 2015
Daniel P. Goodman
PartnerPartner · since Sep 1, 2015
Matt Kelly
PartnerManaging Director
Tomas Ackerman
PartnerPartner · since Sep 1, 2015
Tomas Ackerman
PartnerPartner
Tomas Ackerman
PartnerPartner · since Sep 1, 2015
Jeffrey Gilbert
Platform and operationsChief Operating Officer and Chief Legal Officer
Jeffrey Harris Gilbert
Platform and operationsCco/Coo · since Sep 1, 2015
Justin Chen
Platform and operationsController
Mary Kathryn Starr
Platform and operationsVice President of Accounting
Matt Savage
Platform and operationsGeneral Counsel
Nick Christ
Platform and operationsHead of Engineering
Stephen Wedemeyer
Platform and operationsChief Financial Officer
Ben Fowler
Vice presidentSenior Associate
Craig Schecter
Vice presidentVice President
Galit Wolf
Vice presidentVice President of Administration
Patrick Elder
Vice presidentSenior Associate
Wes Dooley
Vice presidentVice President
Investments on record
1 edges, 1 companies, 0 partner-attributed
| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| Investor Portal | portfolio listing | unknown | unknown | unknown | unknown | Sep 12, 2026 | Fact Venture organization websites (about, team, portfolio, thesis, news pages) |
“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
27 relationships from shared deals, counted for the whole firm
Orei Advisors LP 1 shared · one timeTritium Partners 1 shared · one timeUncommon Denominator Management LLC 1 shared · one timeDFJ Growth 1 shared · one timeGrandBanks Capital 1 shared · one timeHivemind Capital Partners LLC 1 shared · one timeGreenridge Growth Partners 1 shared · one timeCresta Fund Management LLC 1 shared · one timeFTV Capital 1 shared · one timeArctaris Impact Investors 1 shared · one timeMcwhorter Ventures, LLC 1 shared · one time5th Century Partners 1 shared · one timeSamsara Biocapital, LLC 1 shared · one timeBlueprint Local LLC 1 shared · one timeLAS Olas Venture Capital 1 shared · one timeSofinnova Investments, Inc. 1 shared · one timeKamerra Holdings, LLC 1 shared · one timeNSV Management LLC 1 shared · one timeHakluyt Capital Limited 1 shared · one timeRally Ventures Management, LLC 1 shared · one timeNCN 1 shared · one time4x4 Capital 1 shared · one timeRice Park Capital 1 shared · one timeFGC Management Co., LLC 1 shared · one timePlural Uk Management 1 shared · one timeUnless Management LP 1 shared · one timeDN Capital (US), Inc 1 shared · one time
Limited partners
2 disclosed
Timeline
7 dated events
- Mar 28, 2024Carnelian Ridgemar Co-Invest, L.P. first reported on Form ADV by Carnelian Energy Capital Management, LP (Venture Capital Fund), GAV $160,340,099Fund first reported on Form ADVFundsFactCarnelian Ridgemar Co-Invest, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2022Carnelian Energy Capital IV, LP first reported on Form ADV by Carnelian Energy Capital Management, LP (Venture Capital Fund), GAV $561,075,000Fund first reported on Form ADVFundsFactCarnelian Energy Capital IV, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2020Carnelian Energy Capital III, L.P. first reported on Form ADV by Carnelian Energy Capital Management, LP (Venture Capital Fund), GAV $768,708,937Fund first reported on Form ADVFundsFactCarnelian Energy Capital III, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Aug 11, 2017Carnelian Energy Capital II, L.P. first reported on Form ADV by Carnelian Energy Capital Management, LP (Venture Capital Fund), GAV $600,000,000Fund first reported on Form ADVFundsFactCarnelian Energy Capital II, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Nov 25, 2015Carnelian Energy Capital, L.P. first reported on Form ADV by Carnelian Energy Capital Management, LP (Venture Capital Fund), GAV $368,041,200Fund first reported on Form ADVFundsFactCarnelian Energy Capital, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Nov 25, 2015Carnelian Energy Capital 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)
- Sep 1, 2015Jeffrey Harris Gilbert joined Schedule A of Carnelian Energy Capital Management, LP as Cco/Coo
Classification history
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $1,900M across 7 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $1,900M across 5 vehicles
Evidence
55 observations from 4 sources