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 / T•••••• C•••••• M••••••••• L••
T•••••• C•••••• M••••••••• L••
Terrain is a technology investment firm and creative partner to founders.
both early and growth/opportunity families, reported GAV $91M
Importance
16
moderate
Active deployment
4
low
Emerging
0
low
Completeness
44
elevated
Freshness
99
high
Research priority
6
low
Identity and regulatory footprint
- Headquarters
- Hunt Valley, MDadviserinfo.sec.gov
- Office address
- 303 INTERNATIONAL CIRCLE, SUITE 360, Hunt Valley, MD, 21030adviserinfo.sec.gov
- Business phone
- 301-375-0180adviserinfo.sec.gov
- Website
- h•••••••••
- 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
- 4 (4 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $90.7Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business phone
- 301-375-0180adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
1 observed deals
Stated (the firm’s website)
- Sectors
- not stated or not yet read
- 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 0%follow-on rate 0%new logos, 12 months 1
Funds and vehicles
5 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| T•••••• I• L• | Fund | unknown | Unknown | $46.7M Sep 12, 2026 | 29 | $0 | Jul 30, 2024 |
| T•••••• O••••••••• I• L• | Opportunity fund | unknown | Unknown | $29.7M Sep 12, 2026 | 9 | $0 | Feb 21, 2025 |
| T•••••• O••••••••• I•• L• | Opportunity fund | unknown | Fundraising | $11.4M Sep 12, 2026 | 7 | $0 | Sep 11, 2025 |
| T•••••• O••••••••• I••• L• | Opportunity fund | unknown | Fundraising | $2.8M Sep 12, 2026 | 2 | $0 | Nov 25, 2025 |
| T•••••• I•• L• | Fund | unknown | Fundraising | unknown | unknown | $0 | Apr 27, 2026 |
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
0 current, 0 departed
No named professional yet. People arrive from Form ADV Schedule A (owners, officers, control persons) and the team page.
Investments on record
1 edges, 1 companies, 0 partner-attributed
| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| P••••••• | Funding round | participant | unknown | $2.0B | unknown | Apr 29, 2026 | Fact Press release wires (Business Wire, PR Newswire, GlobeNewswire public RSS) |
“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
6 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
2 dated events
- Sep 12, 2026Terrain Capital Management, LLC: INSTITUTIONAL_VC -> MULTI_STAGE_VC (both early and growth/opportunity families, reported GAV $91M)Classification changedClassificationInferenceno URL
- Mar 31, 2025Terrain Capital Management, LLC appears on the SEC adviser roster (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Classification history
- Sep 13, 2026Multi-stage venture firm (confirmed, 95%, cls-1)both early and growth/opportunity families, reported GAV $91M
- Sep 12, 2026Institutional venture firm (confirmed, 70%, cls-1)venture manager with no reported fund assets yet (scale unknown)
Evidence
21 observations from 3 sources