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 / Pioneer Fund
Pioneer Fund
500+ Y Combinator alumni investing in the top YC startups.
both early and growth/opportunity families, reported GAV $71M
Importance
27
moderate
Active deployment
33
moderate
Emerging
0
low
Completeness
63
high
Freshness
100
high
Research priority
13
low
Identity and regulatory footprint
- Headquarters
- Toronto, Ontario, Canadaadviserinfo.sec.gov
- Office address
- 22 ST CLAIR AVE EAST SUITE 1500, Toronto, Ontario, M4T2S3adviserinfo.sec.gov
- Business phone
- 14156505052adviserinfo.sec.gov
- Website
- HTTP://WWW.PIONEERFUND.VC
- 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 28, 2024
- Private funds reported
- 15 (15 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $72.4Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business email
- stuff@pioneerfund.vcpioneerfund.vcpublished by the subject
- business phone
- 14156505052adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
2 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
seed 100%
Stage at first entry
seed 100%
Sectors
unknown 100%
lead rate 0%follow-on rate 0%new logos, 12 months 2
Funds and vehicles
14 reported, 4 no longer reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Pioneer Opportunity Fund, LP - B4 | Opportunity fund | 2024 adv first reported | Early deployment | $1.5M Mar 28, 2024 | 37 | unknown | unknown |
| Pioneer Fund III (U.S.) L.P. | Fund | 2023 form d first sale | Fundraising | $8.4M Mar 28, 2024 | 21 | $39.5M | May 6, 2025 |
| Pioneer Ai Fund, LP | Fund | 2023 form d first sale | Active deployment | $4.2M Mar 28, 2024 | 56 | $3.4M of $20.0M | Aug 16, 2023 |
| Pioneer Fund Af 24 L.P. | Fund | 2023 form d first sale | Active deployment | $2.5M Mar 28, 2024 | 157 | $4.7M | Jul 12, 2024 |
| Pioneer Bio Health Fund, LP | Fund | 2023 form d first sale | Active deployment | $2.3M Mar 28, 2024 | 48 | $1.1M of $10.0M | Mar 2, 2023 |
| Pioneer Opportunity Fund, LP - B1 | Opportunity fund | 2023 form d first sale | Active deployment | $1.4M Mar 28, 2024 | 45 | $2.0M of $2.5M | Jan 12, 2023 |
| Pioneer Opportunity Fund, LP - B2 | Opportunity fund | 2023 form d first sale | Active deployment | $736,032 Mar 28, 2024 | 39 | $1.9M of $1.9M | Aug 21, 2023 |
| Pioneer Opportunity Fund, LP - A4 | Opportunity fund | 2022 form d first sale | Active deployment | $1.5M Mar 28, 2024 | 55 | $1.6M of $2.1M | Oct 25, 2022 |
| Pioneer Opportunity Fund, LP - A2 | Opportunity fund | 2022 form d first sale | Active deployment | $1.4M Mar 28, 2024 | 52 | $1.6M of $2.1M | Apr 8, 2022 |
| Pioneer Opportunity Fund, LP - A1 | Opportunity fund | 2022 form d first sale | Active deployment | $1.1M Mar 28, 2024 | 51 | $1.6M of $2.1M | Mar 24, 2022 |
| Pioneer Opportunity Fund, LP - A3 | Opportunity fund | 2022 form d first sale | Active deployment | $837,155 Mar 28, 2024 | 53 | $4.9M of $5.4M | Jul 14, 2022 |
| Pioneer Fund Access Fund LP, a Series of Pioneer Master Fund LP | SPV or co-invest vehicle | 2021 form d first sale | Mature | $2.8M Mar 28, 2024 | 77 | $3.4M of $3.4M | Mar 3, 2023 |
| Pioneer Fund II (US) L.P. | Fund | unknown | Unknown | $28.7M Mar 28, 2024 | 68 | $0 | Oct 7, 2020 |
| Pioneer Fund II (alumni) L.P. | Fund | unknown | Unknown | $13.5M Mar 28, 2024 | 220 | $0 | Oct 7, 2020 |
| Pioneer Fund C, a Series of Pioneer Fund Syndicates, LLC | SPV or co-invest vehicle | 2022 adv first reported | Wound down | $9.4M Mar 31, 2023 | 43 | unknown | unknown |
| Pioneer Fund C LP | Fund | 2022 adv first reported | Wound down | $2.7M Mar 31, 2023 | 5 | unknown | unknown |
| Pioneer Fund B, a Series of Pioneer Fund Syndicates, LLC | SPV or co-invest vehicle | 2022 adv first reported | Wound down | $1.1M Mar 31, 2023 | 17 | unknown | unknown |
| Pioneer Fund a, a Series of Pioneer Fund Syndicates, LLC | SPV or co-invest vehicle | 2022 adv first reported | Wound down | $700,000 Mar 31, 2023 | 4 | 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
2 current, 0 departed
Jason David Garnett Gray
Managing partnerManaging Partner And Shareholder · since Sep 1, 2020
TIM Suzman
PartnerPartner And Shareholder · since Sep 1, 2020
Investments on record
2 edges, 2 companies, 0 partner-attributed
| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| Orthogonal | Seed · Seed | participant | unknown | $4.3M | unknown | Jun 25, 2026 | Fact Press release wires (Business Wire, PR Newswire, GlobeNewswire public RSS) |
| YC F25 Startup Multifactor | Seed Round · Seed | participant | unknown | $15.0M | unknown | Dec 4, 2025 | 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
16 relationships from shared deals, counted for the whole firm
Y Combinator 2 shared · recurringDecasonic 1 shared · one timeBlast 1 shared · one timeSurreal 1 shared · one timePantera 1 shared · one time · they led 1Vercel 1 shared · one timeGoogle Ventures 1 shared · one timeTaurus Ventures 1 shared · one timeRitual Capital Management Company, LLC 1 shared · one timeMathilde Collin 1 shared · one timeHoneystone Ventures LLC 1 shared · one timeNexus Venture Partners 1 shared · one time · they led 1Gokul Rajaram 1 shared · one timeLiquid2 Ventures 1 shared · one timePadma Warrior 1 shared · one timeFlex Capital LLC 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
24 dated events
- Mar 28, 2024Pioneer Fund C, a Series of Pioneer Fund Syndicates, LLC no longer reported on Form ADV by Pioneer Fund
- Mar 28, 2024Pioneer Fund C LP no longer reported on Form ADV by Pioneer FundFund no longer reportedFundsInferencePioneer Fund C LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Pioneer Opportunity Fund, LP - B4 first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $1,491,825Fund first reported on Form ADVFundsFactPioneer Opportunity Fund, LP - B4SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Pioneer Fund a, a Series of Pioneer Fund Syndicates, LLC no longer reported on Form ADV by Pioneer Fund
- Mar 28, 2024Pioneer Fund Ng, LLC, a Series of Pioneer Fund Syndicates, LLC no longer reported on Form ADV by Pioneer Fund
- Mar 28, 2024Pioneer Opportunity Fund, LP - B1 first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $1,365,403Fund first reported on Form ADVFundsFactPioneer Opportunity Fund, LP - B1SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Pioneer Opportunity Fund, LP - B2 first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $736,032Fund first reported on Form ADVFundsFactPioneer Opportunity Fund, LP - B2SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Pioneer Opportunity Fund, LP - A1 first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $1,132,740Fund first reported on Form ADVFundsFactPioneer Opportunity Fund, LP - A1SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Pioneer Opportunity Fund, LP - A2 first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $1,402,710Fund first reported on Form ADVFundsFactPioneer Opportunity Fund, LP - A2SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Pioneer Opportunity Fund, LP - A3 first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $837,155Fund first reported on Form ADVFundsFactPioneer Opportunity Fund, LP - A3SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Pioneer Bio Health Fund, LP first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $2,260,882Fund first reported on Form ADVFundsFactPioneer Bio Health Fund, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Pioneer Ai Fund, LP first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $4,202,214Fund first reported on Form ADVFundsFactPioneer Ai Fund, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Pioneer Opportunity Fund, LP - B3 first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $1,655,464Fund first reported on Form ADVFundsFactPioneer Opportunity Fund, LP - B3SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Pioneer Fund III (U.S.) L.P. first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $8,399,088Fund first reported on Form ADVFundsFactPioneer Fund III (U.S.) L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Pioneer Fund Af 24 L.P. first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $2,462,000Fund first reported on Form ADVFundsFactPioneer Fund Af 24 L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Pioneer Opportunity Fund, LP - A4 first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $1,466,981Fund first reported on Form ADVFundsFactPioneer Opportunity Fund, LP - A4SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Pioneer Fund B, a Series of Pioneer Fund Syndicates, LLC no longer reported on Form ADV by Pioneer Fund
- Mar 31, 2023Pioneer Fund Access Fund LP, a Series of Pioneer Master Fund LP first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $2,490,000
- Mar 31, 2022Pioneer Fund B, a Series of Pioneer Fund Syndicates, LLC first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $445,000Fund first reported on Form ADVFundsFactPioneer Fund B, a Series of Pioneer Fund Syndicates, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2022Pioneer Fund Ng, LLC, a Series of Pioneer Fund Syndicates, LLC first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $246,968
- Mar 31, 2022Pioneer Fund a, a Series of Pioneer Fund Syndicates, LLC first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $700,000Fund first reported on Form ADVFundsFactPioneer Fund a, a Series of Pioneer Fund Syndicates, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2021Pioneer Fund II (alumni) L.P. first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $2,852,100Fund first reported on Form ADVFundsFactPioneer Fund II (alumni) L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2021Pioneer Fund II (US) L.P. first reported on Form ADV by Pioneer Fund (Venture Capital Fund), GAV $9,302,100Fund first reported on Form ADVFundsFactPioneer Fund II (US) L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2021Pioneer Fund first filed Form ADV (ERA)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
- Sep 12, 2026Multi-stage venture firm (confirmed, 95%, cls-1)both early and growth/opportunity families, reported GAV $71M
Evidence
26 observations from 2 sources