Zephyr Management, L.P.

CandidateSEC-registered adviser· New York, New Yorkzephyrpeacock.com

Zephyr Peacock India provides growth capital and management support to small and mid-sized enterprises in India.

In the firm's own words, from its website.

Reported fund assets
$109M
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
None
Investment team
8
Latest vintage
2023
Contact decision makers
More
Ask DFX about thisView relationshipsFind contactsInvestments (24)Team (14)Funds
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

11 additional team members, 34 additional investments, funds and LPs, 27 events, 10 verified contacts (9 professional url, 1 firm phone)

Every relationship, signal and contact on this record, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Nothing material in the last 180 days.

People to know

View all people
  • Constantina Keriazes
    Secretary And Limited Partner
    Why: Partner: part of the investment decision
    No route on file yet
  • Pankaj Ravinder Raina
    Limited Partner
    Why: Partner: part of the investment decision
    No route on file yet
  • Mukul Gulati
    Shareholder
    Why: Named with investment responsibility
    Profile

Relationship network

54 connected entities1 observed round

From financing rounds and every investor named in them, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the venture capital graph. A round's amount is the size of the round, not money that moved between two investors.

Some relationships on this record are counted rather than named here. They open with the full profile.

Click any name or line for the rounds and sources behind it. Line weight is rounds together; dashed lines are inferred.

Reading the network
  • Sponsor
  • Company
  • Fund or vehicle
  • Person
›How strength and recency are read

Co-investors are read from the rounds: three or more shared rounds is a strong observed relationship, two a repeat co-investor, one a single round. Funds and people are structural. Nothing is scored that a reader cannot check.

Darker lines were active in the last 24 months or are current; lighter lines are older or undated.

How am I connected?

Name your firm, a company or a person, and DFX finds the published routes to Zephyr Management, L.P.: a shared portfolio company or board, a prior employer, a co-investor, a shared LP or service provider. Every step is a filed or published record with its source; none is a guess about who knows whom.

See how you connect to Zephyr Management, L.P.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Investing

24 companies on record, 0 new in 12 months

Investments on record

24 companies, 1 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
20Cubeportfolio listingunknownunknownunknownunknownSep 30, 2026Fact Firm website
Agnitportfolio listingunknownunknownunknownunknownSep 30, 2026Fact Firm website
Aizantportfolio listingunknownunknownunknownunknownSep 30, 2026Fact Firm website

Stated thesis versus observed behaviour

24 observed deals
Stated (the firm’s website)
Sectors
fintech, consumer, marketplaces, climate, energy, edtech, logistics, industrial
Stages
not stated or not yet read
Geography
global, india, north america
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 no observed dealsfollow-on rate 0%new companies, 12 months 0

Team

14 current, 5 departed

Decision makers

who to call first, and why; then everyone else by function
  • Constantina Keriazes · Secretary And Limited Partner
    Why this person: Partner: part of the investment decision; Named with investment responsibility
  • Pankaj Ravinder Raina · Limited Partner
    Why this person: Partner: part of the investment decision; Named with investment responsibility
  • Mukul Gulati · Shareholder
    Why this person: Named with investment responsibility
    LinkedIn or profile link on file (firm website), confirmed 2026-09-30, confidence 90%

Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. 1 with a route on file. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.

Investment team

14 current, 5 departed
5 departed (kept with end dates)
  • David William James Garrett · Limited Partner/Chairman Of Zephyr Management U.K., Ltd. · Jun 1, 2002 to Mar 25, 2015 Inference
  • Steven Andrew Ralph Bates · Chief Investment Officer - Marketable Securities/Limited Partner/Director Of Zephyr Management U.K., Ltd. · Jun 1, 2008 to Mar 25, 2015 Inference
  • Brian Peter Matthews · Compliance Officer And Director Of Zephyr Management U.K., Ltd. · Sep 1, 2003 to Mar 25, 2015 Inference

Contacts

1 firm phone, 9 professional url

1 firm phone, 9 professional url on record, each with its source. Values open with the complete profile.

Funds and LPs

14 vehicles, 0 LPs disclosed

Funds and vehicles

14 reported, 2 no longer reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
ZP Maverix Spv, LLCSPV or co-invest vehicle · ADV: Private Equity Fund2023 adv first reportedActive deployment$691,390
Mar 27, 2024
1unknownunknown
Zephyr Acorn Venture Fund LPFund · ADV: Private Equity Fund2022 form d first saleActive deployment$3.0M
Mar 17, 2026
22$2.3M
of $30.0M
Jun 11, 2024
Zephyr Edpartners LLCFund · ADV: Private Equity Fund2022 adv first reportedActive deployment$1.0M
Mar 17, 2026
24unknownunknown

Limited partners

0 LPs, 0 disclosed commitments
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.

Known LPs and allocators

0 relationships across the firm's funds, from public pensions and the allocator graph
No allocator names this firm or its funds in a public disclosure DFX holds.

Relationships across DFX

2 co-investors · on 4 other DFX graphs

Co-investors

2 counted from shared deals, for the whole firm
  • ChrysCapital
    1 shared deal · one time
    2026-09-30
  • Accion
    1 shared deal · one time
    2026-09-30
Across DFX and the capital chainon 4 other DFX graphs Show
Across DFX
Across the graphs

Zephyr Management, L.P. is the same institution as 4 records in Allocators, Independent Sponsors, RIA and Wealth and Private Equity.

Allocators1Independent Sponsors1RIA and Wealth1Private Equity1

DFX found 4 relationships across 4 datasets

Which record it is in each graph, what it is called there, and how the two were matched.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Checking your plan…

Evidence and history

32 dated events, 73 observations from 3 sources

Timeline

32 dated events
  1. seen on or beforeSep 24, 2026
    Zephyr Management, L.P.: PE_WITH_VENTURE_ACTIVITY -> CANDIDATE_VC (no sworn venture fact yet (name or round mention only))
    Classification changedClassificationInference
  2. Mar 31, 2023
    ZP Maverix Spv, LLC first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $702,813
    Fund first reported on Form ADVFundsFactZP Maverix Spv, LLCForm ADV
  3. Mar 31, 2023
    Zephyr Acorn Venture Fund LP first reported on Form ADV by Zephyr Management, L.P. (Private Equity Fund), GAV $3,049,136
    Fund first reported on Form ADVFundsFactZephyr Acorn Venture Fund LPForm ADV
  4. Mar 31, 2023
    Zephyr Peacock India Growth Fund U.S., L.P. no longer reported on Form ADV by Zephyr Management, L.P.
    Fund no longer reportedFundsInferenceZephyr Peacock India Growth Fund U.S., L.P.Form ADV
  5. Mar 31, 2023
    Zephyr Peacock India Growth Fund Limited no longer reported on Form ADV by Zephyr Management, L.P.
    Fund no longer reportedFundsInferenceZephyr Peacock India Growth Fund LimitedForm ADV

Identity and regulatory footprint

Address, phone, Form ADV filing and ownersForm ADV filed Mar 17, 2026 · 27 private fundsShow
Headquarters
New York, NYadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
Website
zephyrpeacock.com
SEC adviser type
Registered investment adviseradviserinfo.sec.gov
SEC exemption claimed
unknown
Latest Form ADV
Mar 17, 2026
Private funds reported
27 (0 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$244Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Regulatory AUM
$191Mthe adviser's RAUM, a regulatory measure, never a fund size
Employees
23
Owners on Schedule A
Zephyr Management, Inc. (General Partner), owns under 5%

Classification history

Every classification this record has carried3 on recordShow
  1. Sep 24, 2026
    Candidate (candidate, 50%)
    No sworn venture fact yet (name or round mention only)
  2. Sep 23, 2026
    Private equity with venture activity (probable, 75%)
    Registered adviser; venture funds are 3% of 27 private funds
  3. Sep 12, 2026
    Private equity with venture activity (probable, 75%)
    Registered adviser; venture funds are 3% of 24 private funds

Evidence

74 observations from 3 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
SEC adviser typeRegistered investment adviserMar 17, 2026FactForm ADV
SEC adviser typeRegistered investment adviserMar 27, 2024FactForm ADV
First Form ADV filing2012-03-30Mar 17, 2026FactForm ADV
First Form ADV filing2012-03-30Mar 27, 2024FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-30Oct 1, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-29Sep 30, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-25Sep 26, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-23Sep 24, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-21Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-22Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1Sep 12, 2026FactForm ADV
Latest Form ADV filing2026-03-17Mar 17, 2026FactForm ADV
Latest Form ADV filing2024-03-27Mar 27, 2024FactForm ADV
Venture share of reported funds0Mar 17, 2026FactForm ADV
Venture share of reported funds0Mar 27, 2024FactForm ADV
Business phoneMar 27, 2024FactForm ADV
Contact page urlSep 30, 2026Fact
Contact page urlSep 16, 2026Fact
DescriptionSep 30, 2026Fact
DescriptionSep 16, 2026Fact
DescriptionSep 12, 2026Fact
Employees23Mar 27, 2024FactForm ADV
HeadquartersNew York, NYMar 27, 2024FactForm ADV
Office addressMar 27, 2024FactForm ADV
Portfolio pageSep 30, 2026Fact
Portfolio pageSep 16, 2026Fact
Portfolio pageSep 12, 2026Fact
Private funds reported27Mar 17, 2026FactForm ADV
Private funds reported24Mar 27, 2024FactForm ADV
Private fund gross assets (reported)$244MMar 17, 2026FactForm ADV
Private fund gross assets (reported)$192MMar 27, 2024FactForm ADV
Regulatory AUM (adviser, not fund size)$191MMar 27, 2024FactForm ADV
Stated geographyGlobal, india, north america
“geography words on the home page”
Sep 30, 2026Fact
Stated geographyGlobal, india, north america
“geography words on the home page”
Sep 16, 2026Fact
Stated geographyGlobal, india, north america
“geography words on the home page”
Sep 12, 2026Fact
Stated sectorsFintech, consumer, marketplaces, climate, energy, edtech, logistics, industrial
“sector words on the home page”
Sep 30, 2026Fact
Stated sectorsFintech, consumer, marketplaces, climate, energy, edtech, logistics, industrial
“sector words on the home page”
Sep 16, 2026Fact
Stated sectorsFintech, consumer, marketplaces, climate, energy, edtech, logistics, industrial
“sector words on the home page”
Sep 12, 2026Fact
Team pageSep 30, 2026Fact
Team pageSep 16, 2026Fact
Team pageSep 12, 2026Fact
Venture funds reported0Mar 17, 2026FactForm ADV
Venture funds reported0Mar 27, 2024FactForm ADV
WebsiteSep 12, 2026FactForm ADV
WebsiteMar 27, 2024FactForm ADV
Website resolved domainSep 30, 2026Fact
Website resolved domainSep 16, 2026Fact
Website resolved domainSep 14, 2026Fact
Site titleSep 30, 2026Fact
Site titleSep 16, 2026Fact
Site titleSep 12, 2026Fact
How this is scored
Scores, classification basis and filing advisersCandidate, candidateShow
Importance
18
moderate
Active deployment
25
moderate
Emerging
0
low
Freshness
100
high
CandidateSEC registered investment adviser

No sworn venture fact yet (name or round mention only)

The inputs behind each score
importance
gav: 0 · funds: 0.08 · people: 0.32 · investments: 0.51 · scale basis: Venture-typed funds only (Candidate): 1 fund, $3M of $109M reported · co investors: 0.12
active deployment
investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: not scored
emerging manager
fund count: 16 · reported gav: $109M · first adv filing: 2012-03-30 · years since first filing: 14.5

Fits, record history and connections

scored matches for this investor, every identity change, every edge

Record history

6 identity changes, 2 dated events on the change ledger, latest event first
  • Organization classification changed
    2026-09-24
  • Fund refused
    2026-09-14
  • Fund refused
    2026-09-14

+5 more changes on this record's ledger

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.