Varana Capital, LLC
Multi-stage venture firm, based in Denver, Colorado, reporting $185M of fund assets on its funds' Form ADV filings.
Composed from this organization's classification, location and filed figures.
1 additional investment, fund or LP, 1 verified contact (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- Managing PartnerWhy: Managing partner: runs the firmNo route on file yet
- PartnerWhy: Partner: part of the investment decisionNo route on file yet
Relationship network
7 connected entities
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.
- 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 Varana Capital, LLC: 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 Varana Capital, LLC
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
0 companies on record, 0 new in 12 months
Investments on record
What these amounts mean“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.Acquired, Public, Exited and Active are what the firm’s own portfolio card says, read on the date shown when you hover the chip; they are not deal dates. A company with no chip is one whose card states no outcome: DFX does not assume it is active.Stated thesis versus observed behaviour
- 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
Team
3 current, 0 departed
Decision makers
- Philip Ray Broenniman · Managing PartnerWhy this person: Managing partner: runs the firm; Named with investment responsibility
- Ezra Maxwell Gardner · PartnerWhy this person: Partner: part of the investment decision; Named with investment responsibility
Who else at this firm · 1 person, grouped by function
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. 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
How the team is orderedPartners who lead rounds first (rounds led, then deals attributed, then seniority), then the rest of the investment team, then investor relations, finance and operations. A person named by two sources under two spellings is shown once.- Managing Partner
- Partner
- Chief Operating Officer
Contacts
1 firm phone on record, each with its source. Values open with the complete profile.
Funds and LPs
4 vehicles, 0 LPs disclosed
Funds and vehicles
What these amounts meanGAV 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.| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Varana Capital Focused, LP | Fund | 2015 form d first sale | Harvest | $153M Sep 12, 2026 | 85 | $31.1M | Feb 9, 2022 |
| Varana All-Access Fund I, LP | Fund | unknown | Unknown | $23.2M Sep 12, 2026 | 92 | $0 | Feb 9, 2024 |
| Varana All-Access Fund I-A, LP | Feeder or parallel | unknown | Unknown | $8.8M Sep 12, 2026 | 17 | unknown | unknown |
Limited partners
Known LPs and allocators
What these amounts and dates areEach commitment is counted once across the pension tape and the allocator graph. A commitment date prints only when the source printed one; otherwise the row carries the report date. A foundation’s 990-PF line is a holding at fair value, never a commitment. Rows without a fund on the venture graph are commitments to this manager.Relationships across DFX
0 co-investors · on 2 other DFX graphs
Co-investors
Across DFX and the capital chainon 2 other DFX graphs ShowHide
- The same institution is held on Private Equity, RIA and Wealth, matched by identifier. See which records
Varana Capital, LLC is the same institution as 2 records in Private Equity and RIA and Wealth.
DFX found 2 relationships across 2 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
5 dated events, 28 observations from 2 sources
Timeline
- seen on or beforeSep 12, 2026Varana Capital, LLC: GROWTH_INVESTOR -> MULTI_STAGE_VC (both early and growth/opportunity families, reported GAV $185M)Classification changedClassificationInference
- Sep 12, 2026Varana Capital Focused, LP first reported on Form ADV by Varana Capital, LLC, GAV $153,297,998
- Sep 12, 2026Varana All-Access Fund I-A, LP first reported on Form ADV by Varana Capital, LLC, GAV $8,758,526
- Mar 25, 2026Varana All-Access Fund I, LP first reported on Form ADV by Varana Capital, LLC (Venture Capital Fund), GAV $23,202,400
- Feb 23, 2022Varana Capital, LLC appears on the SEC adviser roster (ERA, venture capital fund adviser exemption)
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 25, 2026 · 3 private fundsShowHide
- Headquarters
- Denver, COadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- unknown
- 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 25, 2026
- Private funds reported
- 3 (3 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets, adviser total
- $185Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Classification history
Classification history
Every classification this record has carried2 on recordShowHide
- Sep 13, 2026Multi-stage venture firm (confirmed, 95%)Both early and growth/opportunity families, reported GAV $185M
- Sep 12, 2026Growth investor (confirmed, 95%)Growth or late-stage vehicles only
Evidence
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| Why admitted | VC exemption, VC funds reported | Mar 25, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Mar 25, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 25, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 25, 2026 | Fact | Form ADV |
| First Form ADV filing | 2022-02-23 | Mar 25, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-30 | Oct 1, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-29 | Sep 30, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-25 | Sep 26, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-23 | Sep 24, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-21 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-22 | Sep 23, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-03-25 | Mar 25, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-03-25 | Mar 25, 2026 | Fact | Form ADV |
| Adv pdf loaded | adv-pdf-1 | Sep 12, 2026 | Fact | Form ADV |
| SEC status | ERA - Active | Mar 25, 2026 | Fact | Form ADV |
| SEC status effective | 2022-02-23 | Mar 25, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Mar 25, 2026 | Fact | Form ADV |
| Business phone | Mar 25, 2026 | Fact | Form ADV | |
| Headquarters | Denver, CO | Mar 25, 2026 | Fact | Form ADV |
| Office address | Mar 25, 2026 | Fact | Form ADV | |
| Legal form | Limited Liability Company | Mar 25, 2026 | Fact | Form ADV |
| Private funds reported | 3 | Mar 25, 2026 | Fact | Form ADV |
| Private funds reported | 3 | Mar 25, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $185M | Mar 25, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $185M | Mar 25, 2026 | Fact | Form ADV |
| Schedule a diff | sadiff-1 | Mar 25, 2026 | Fact | Form ADV |
| Venture funds reported | 3 | Mar 25, 2026 | Fact | Form ADV |
| Venture funds reported | 3 | Mar 25, 2026 | Fact | Form ADV |
How this is scored
Scores, classification basis and filing advisersMulti-stage venture firm, confirmedShowHide
Both early and growth/opportunity families, reported GAV $185M
- importance
- gav: 0.38 · funds: 0.33 · people: 0.08 · investments: 0 · co investors: 0
- active deployment
- investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 0 · latest investment at: not scored
- emerging manager
- fund count: 4 · reported gav: $185M · first adv filing: 2022-02-23 · years since first filing: 4.6
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Record history
- Organization classification changed2026-09-12
- Adviser's first ADV filing2022-02-23source on record
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.
Not yet on record: new companies, 12 mo.