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Firms / S•• M••••••• C•••••• A•••••••• L••

S•• M••••••• C•••••• A•••••••• L••

Private equity with venture activity · probableSanta Fe, NMs•••••••••.comSEC registered investment adviser

Sun M••••••• Capital is an asset management firm specializing in venture capital and private credit through direct and multi-manager investments.

registered adviser; venture funds are 31% of 9 private funds

Importance
28
moderate
Active deployment
33
moderate
Emerging
0
low
Completeness
75
high
Freshness
98
high
Research priority
12
low
Identity and regulatory footprint
Headquarters
Santa Fe, NMadviserinfo.sec.gov
Office address
527 DON GASPAR AVENUE, Santa Fe, NM, 87505adviserinfo.sec.gov
Business phone
505-780-4218adviserinfo.sec.gov
Website
s•••••••••.com
SEC adviser type
registered investment adviseradviserinfo.sec.gov
SEC exemption claimed
unknown
Latest Form ADV
Mar 25, 2026
Private funds reported
9 (3 venture capital funds)adviserinfo.sec.gov
Private fund gross assets
$379Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Regulatory AUM
$379Mthe adviser's RAUM, a regulatory measure, never a fund size
Employees
7
business phone
505-780-4218adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
2 observed deals
Stated (the firm’s website)
Sectors
ai, climate, industrial
Stages
seed, series a, growth, early, multi stage
Geography
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 100%
lead rate n/afollow-on rate n/anew logos, 12 months 2
Funds and vehicles
5 reported, 1 no longer reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
C••••••••• T••••••••• F••• I•• L•Fund2025 form d first saleNewly closedunknownunknown$20.3M
of $80.0M
Mar 7, 2025
P••••••••• V• I••••••••• L•Fund2022 form d first saleFundraisingunknownunknown$50.0MNov 13, 2025
M••••• V••••••• I• D••••• F•••• L•Fund2016 adv first reportedHarvest$36.9M
Jun 18, 2024
6unknownunknown
M••••• V••••••• I• A•••• F•••• L•••Continuation vehicle2013 form d first saleHarvest$7.5M
Jun 18, 2024
4$22.6M
of $50.0M
Oct 14, 2014
N•••• C••••••••• F••• L•SPV or co-invest vehicleunknownUnknown$172M
Jun 18, 2024
1unknownunknown
I••••••••• P•••••• C•••••• I••••••••• T•••• A•••••••• N••••• 7•••••Fund2015 adv first reportedWound down$5.4M
Jun 28, 2019
3unknownunknown
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, 3 departed
Board or advisory
FactVenture organization websites (about, team, portfolio, thesis, news pages)
B•••• B•••
Managing Partner
Managing partner
FactVenture organization websites (about, team, portfolio, thesis, news pages)
B•••• P•••• B•••
Managing Member · since Dec 1, 2006
Managing partner
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Partner
FactVenture organization websites (about, team, portfolio, thesis, news pages)
H•• H•••••
Partner, P•••••• C•••••
Partner
FactVenture organization websites (about, team, portfolio, thesis, news pages)
K•••• B•••••
Partner, P•••••• C•••••
Partner
FactVenture organization websites (about, team, portfolio, thesis, news pages)
L•• M•••••• R•••
Member · since Jan 1, 2009
Partner
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Partner
FactVenture organization websites (about, team, portfolio, thesis, news pages)
Platform and operations
FactVenture organization websites (about, team, portfolio, thesis, news pages)
R••• H•••• S••••••
Chief Compliance Officer · since May 1, 2022
Platform and operations
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
R••• S••••••
Chief Financial Officer & Chief Compliance Officer
Platform and operations
FactVenture organization websites (about, team, portfolio, thesis, news pages)
3 departed (kept with end dates)
Investments on record
2 edges, 2 companies, 0 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
V•• Y••• A•••••portfolio listingunknownunknownunknownunknownSep 16, 2026Fact Venture organization websites (about, team, portfolio, thesis, news pages)
C•••••••••portfolio listingunknownunknownunknownunknownSep 12, 2026Fact 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
10 relationships from shared deals, counted for the whole firm
Alpha Partners Management, LLC 1 shared · one timeRockwood Equity Partners LLC 1 shared · one timeCota Capital Management, LLC 1 shared · one timeOmega Venture Partners 1 shared · one timeY••• Investments Holdings, LLC 1 shared · one timeNTI Managers, LLC 1 shared · one timePlexo Capital Management, LLC 1 shared · one timeOrbiMed 1 shared · one timeRice Park Capital 1 shared · one timeArboretum Ventures 1 shared · one time
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
12 dated events
  1. Sep 16, 2026
    C••••••••• no longer listed on S•• M••••••• C•••••• A•••••••• L••'s portfolio page
    Removed from portfolio pagePortfolioInferenceC•••••••••Venture organization websites (about, team, portfolio, thesis, news pages)
  2. Sep 16, 2026
    P•••••• C••••• (Multi-Manager Funds) no longer on the team page of S•• M••••••• C•••••• A•••••••• L••
    Person leftPeopleInferenceP•••••• C•••••Venture organization websites (about, team, portfolio, thesis, news pages)
  3. May 5, 2022
    E••••• S••••• M•••••• (Chief Compliance Officer) no longer on Schedule A of S•• M••••••• C•••••• A•••••••• L••
    Person leftPeopleInferenceE••••• S••••• M••••••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  4. May 1, 2022
    R••• H•••• S•••••• joined Schedule A of S•• M••••••• C•••••• A•••••••• L•• as Chief Compliance Officer
    Person joinedPeopleFactR••• H•••• S••••••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  5. Mar 23, 2020
    I••••••••• P•••••• C•••••• I••••••••• T•••• A•••••••• N••••• 7••••• no longer reported on Form ADV by S•• M••••••• C•••••• A•••••••• L••
    Fund no longer reportedFundsInferenceI••••••••• P•••••• C•••••• I••••••••• T•••• A•••••••• N••••• 7•••••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  6. Aug 12, 2016
    L••••• R•• S••• (Chief Compliance Officer) no longer on Schedule A of SUN M••••••• Capital
    Person leftPeopleInferenceL••••• R•• S•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  7. Mar 29, 2016
    M••••• V••••••• I• D••••• F•••• L• first reported on Form ADV by SUN M••••••• Capital (Venture Capital Fund), GAV $20,200,000
    Fund first reported on Form ADVFundsFactM••••• V••••••• I• D••••• F•••• L•SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  8. Mar 27, 2015
    I••••••••• P•••••• C•••••• I••••••••• T•••• A•••••••• N••••• 7••••• first reported on Form ADV by SUN M••••••• Capital (P•••••• Equity Fund), GAV $33,980,000
    Fund first reported on Form ADVFundsFactI••••••••• P•••••• C•••••• I••••••••• T•••• A•••••••• N••••• 7•••••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  9. Sep 1, 2014
    E••••• S••••• M•••••• joined Schedule A of SUN M••••••• Capital as Chief Financial Officer
    Person joinedPeopleFactE••••• S••••• M••••••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  10. Mar 27, 2014
    M••••• V••••••• I• A•••• F•••• L••• first reported on Form ADV by SUN M••••••• Capital (P•••••• Equity Fund), GAV $15,150,000
    Fund first reported on Form ADVFundsFactM••••• V••••••• I• A•••• F•••• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  11. Mar 21, 2012
    N•••• C••••••••• F••• L• first reported on Form ADV by SUN M••••••• Capital (P•••••• Equity Fund), GAV $90,350,000
    Fund first reported on Form ADVFundsFactN•••• C••••••••• F••• L•SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  12. Mar 21, 2012
    SUN M••••••• Capital first filed Form ADV (IA)
    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
  1. Sep 12, 2026
    Private equity with venture activity (probable, 75%, cls-1)
    registered adviser; venture funds are 31% of 9 private funds
  2. Sep 12, 2026
    Private equity with venture activity (probable, 75%, cls-1)
    registered adviser; venture funds are 31% of 11 private funds
Evidence
83 observations from 3 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
Why admittedvc_funds_reportedMar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC adviser typeregistered_investment_adviserMar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC adviser typeregistered_investment_adviserJun 18, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
First Form ADV filing2012-03-21Jun 18, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Adv history loadedadv-hist-1Sep 12, 2026FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Latest Form ADV filing2026-03-25Mar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Latest Form ADV filing2024-06-18Jun 18, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
SEC statusApprovedMar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC status effective2011-05-25Mar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Venture share of reported funds0Jun 18, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Business phone505-780-4218Mar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Business phone505-780-4218Jun 18, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Contact page urlhttps://s•••••••••.com/
“contact page linked from the home page”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
DescriptionSun M••••••• Capital is an asset management firm specializing in venture capital and p•••••• c••••• through direct and multi-manager investments.
“meta description”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
DescriptionSun M••••••• Capital is an asset management firm specializing in venture capital and p•••••• c••••• through direct and multi-manager investments.
“meta description”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Employees7Mar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Employees9Jun 18, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
HeadquartersSanta Fe, NMMar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
HeadquartersSanta Fe, NMJun 18, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Office address527 DON GASPAR AVENUE, Santa Fe, NM, 87505Mar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Office address527 DON GASPAR AVENUE, Santa Fe, NM, 87505Jun 18, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Self-described typeventure_capital
“Venture Capital”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Self-described typeventure_capital
“Venture Capital”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Legal formLimited Liability CompanyMar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Other funds reported2Mar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
PE funds reported4Mar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Portfolio pagehttps://s•••••••••.com/
“1 entries read”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Portfolio pagehttps://s•••••••••.com/
“2 entries read”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Private funds reported9Mar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Private funds reported11Jun 18, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Private fund gross assets (reported)$379MMar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Private fund gross assets (reported)$599MJun 18, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Regulatory AUM (adviser, not fund size)$379MMar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Regulatory AUM (adviser, not fund size)$599MJun 18, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Stated geographysilicon valley
“geography words on the home page”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated geographysilicon valley
“geography words on the home page”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated sectorsai,climate,industrial
“sector words on the home page”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated sectorsai,climate,industrial
“sector words on the home page”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated stagesseed,series_a,growth,early,multi_stage
“stage words on the home page”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated stagesseed,series_a,growth,early,multi_stage
“stage words on the home page”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Team pagehttps://s•••••••••.com/
“8 name/title pairs read”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Team pagehttps://s•••••••••.com/
“10 name/title pairs read”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Venture funds reported3Mar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Venture funds reported3Jun 18, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
WebsiteHTTP://w••.s•••••••••.comMar 25, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
WebsiteHTTP://w••.s•••••••••.comJun 18, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Site titleSun M••••••• Capital Advisors | Asset Management Firm
“title tag”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Site titleSun M••••••• Capital Advisors | Asset Management Firm
“title tag”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)