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.
The names on this page are hidden. Create a free account and they fill in. No card, and every figure, date and source on this page is public either way.
Firms / R•••• I••••••••• M••••••••• L••
R•••• I••••••••• M••••••••• L••
True partners for each step of your search fund journey.
venture manager, reported GAV $227M across 6 vehicles
Importance
32
moderate
Active deployment
36
elevated
Emerging
0
low
Completeness
69
high
Freshness
98
high
Research priority
14
low
Identity and regulatory footprint
- Headquarters
- Boston, MAadviserinfo.sec.gov
- Office address
- 745 BOYLSTON STREET, SUITE 407, Boston, MA, 02116adviserinfo.sec.gov
- Business phone
- 617-695-0200adviserinfo.sec.gov
- Website
- r•••••••••.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 31, 2025
- Private funds reported
- 6 (6 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $206Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business email
- info@relayinvestments.comrelayinvestments.compublished by the subject
- business phone
- 617-695-0200adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
3 observed deals
Stated (the firm’s website)
- Sectors
- enterprise software, space
- Stages
- not stated or not yet read
- Geography
- boston, emerging markets, global
- 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 3
Funds and vehicles
6 reported, 1 no longer reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| R•••• I••••••••• I•• P•••••••• L• | Feeder or parallel | 2022 adv first reported | Active deployment | $26.1M Jul 19, 2024 | 74 | unknown | unknown |
| R•••• I••••••••• I••• L•• | Fund | 2021 form d first sale | Mature | $77.5M Jul 19, 2024 | 91 | $98.5M of $100M | Oct 20, 2022 |
| R•••• I••••••••• I•••• L• | Feeder or parallel | 2019 adv first reported | Mature | $24.1M Jul 19, 2024 | 18 | unknown | unknown |
| R•••• I••••••••• I•••• L• | Feeder or parallel | 2019 adv first reported | Mature | $12.8M Jul 19, 2024 | 18 | unknown | unknown |
| R•••• I••••••••• I•• L• | Fund | 2017 form d first sale | Harvest | $75.9M Jul 19, 2024 | 65 | $36.6M of $50.0M | Feb 14, 2018 |
| R•••• I••••••••• I• L• | Fund | 2014 form d first sale | Harvest | $10.4M Jul 19, 2024 | 22 | $12.5M of $50.0M | Mar 25, 2015 |
| R•••• I••••••••• I•• • B• | Fund | 2023 adv first reported | Wound down | $13.1M Mar 29, 2023 | 16 | 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
11 current, 2 departed
A•••• S•••••
AnalystAnalyst
N••• T••••••••
AnalystAnalyst
P•••••• B••••
AssociateAssociate
A••••••••• L• M•••
Managing partnerManaging Member · since Feb 1, 2014
S••••• M•••
Managing partnerManaging Partner
R•••• M••••••••
Operating partnerOperating Partner
N•••••• G••••••••
Platform and operations12Chief Compliance Officer · since Nov 1, 2022
R•••••• B•••••••
Platform and operationsController
C•••••• L••••
PrincipalPrincipal
J•••• T•••••
Vice presidentVice President
X••••• A•••••••
Vice presidentSenior Vice President
2 departed (kept with end dates)
- M••••• S• S••••• · Managing Member · Jan 1, 2017 to Mar 27, 2020 Inference
- S•••••••• W••••• · Partner · ? to Sep 16, 2026 Inference
Investments on record
3 edges, 3 companies, 0 partner-attributed
| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| C••••••••• | portfolio listing | unknown | unknown | unknown | unknown | Sep 16, 2026 | Fact Venture organization websites (about, team, portfolio, thesis, news pages) |
| S••••••• P••••• | portfolio listing | unknown | unknown | unknown | unknown | Sep 12, 2026 | Fact Venture organization websites (about, team, portfolio, thesis, news pages) |
| V•••••••• | 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
1 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
15 dated events
- Sep 16, 2026V•••••••• no longer listed on R•••• I••••••••• M••••••••• L••'s portfolio pageRemoved from portfolio pagePortfolioInferenceV••••••••Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026S•••••••• W••••• (Partner) no longer on the team page of R•••• I••••••••• M••••••••• L••Person leftPeopleInferenceS•••••••• W•••••Venture organization websites (about, team, portfolio, thesis, news pages)
- Oct 25, 2023R•••• I••••••••• I•• • B• no longer reported on Form ADV by R•••• I••••••••• M••••••••• L••Fund no longer reportedFundsInferenceR•••• I••••••••• I•• • B•SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2023R•••• I••••••••• I•• • B• first reported on Form ADV by R•••• I••••••••• M••••••••• L•• (Venture Capital Fund), GAV $13,100,000Fund first reported on Form ADVFundsFactR•••• I••••••••• I•• • B•SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Nov 1, 2022N•••••• G•••••••• joined Schedule A of R•••• I••••••••• M••••••••• L•• as 12Chief Compliance Officer
- Jun 1, 2022R•••• I••••••••• I••• L•• no longer reported on Form ADV by R•••• I••••••••• M••••••••• L••Fund no longer reportedFundsInferenceR•••• I••••••••• I••• L••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 15, 2022R•••• Investments III LP first reported on Form ADV by R•••• I••••••••• M••••••••• L•• (Venture Capital Fund), GAV $74,502,787Fund first reported on Form ADVFundsFactR•••• I••••••••• I••• L••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 15, 2022R•••• I••••••••• I••• L•• first reported on Form ADV by R•••• I••••••••• M••••••••• L•• (Venture Capital Fund), GAV $13,775,000Fund first reported on Form ADVFundsFactR•••• I••••••••• I••• L••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 15, 2022R•••• I••••••••• I•• P•••••••• L• first reported on Form ADV by R•••• I••••••••• M••••••••• L•• (Venture Capital Fund), GAV $1,995,000Fund first reported on Form ADVFundsFactR•••• I••••••••• I•• P•••••••• L•SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2020M••••• S• S••••• (Managing Member) no longer on Schedule A of R•••• I••••••••• M••••••••• L••
- Mar 28, 2019R•••• I••••••••• I•••• L• first reported on Form ADV by R•••• I••••••••• M••••••••• L•• (Venture Capital Fund), GAV $15,910,731Fund first reported on Form ADVFundsFactR•••• I••••••••• I•••• L•SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2019R•••• I••••••••• I•••• L• first reported on Form ADV by R•••• I••••••••• M••••••••• L•• (Venture Capital Fund), GAV $6,447,119Fund first reported on Form ADVFundsFactR•••• I••••••••• I•••• L•SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2018R•••• I••••••••• M••••••••• L•• 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 30, 2018R•••• I••••••••• I• L• first reported on Form ADV by R•••• I••••••••• M••••••••• L•• (Venture Capital Fund), GAV $19,910,802Fund first reported on Form ADVFundsFactR•••• I••••••••• I• L•SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2018R•••• I••••••••• I•• L• first reported on Form ADV by R•••• I••••••••• M••••••••• L•• (Venture Capital Fund), GAV $28,646,234Fund first reported on Form ADVFundsFactR•••• I••••••••• I•• L•SEC 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 $227M across 6 vehicles
Evidence
52 observations from 3 sources