Bond

Institutional venture firmSEC venture capital fund adviser· San Francisco, Californiabondcap.com

BOND is a global technology investment firm that supports visionary founders throughout their entire life cycle of innovation & growth.

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

Reported fund assets
$8.0B
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
2
Investment team
6
Latest vintage
2023
Contact decision makers
More
Ask DFX about thisView relationshipsFind contactsInvestments (2)Team (7)Funds
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

4 additional team members, 3 additional investments, funds and LPs, 6 events, 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.

What matters now

  1. 2 companies
    new in 12 months

    2 new companies in the last 12 months.

    A firm writing cheques this quarter is one a founder can pitch now.

    Factfunding announcements, Form D, the firm's portfolio pageInvestments →
  2. 1 company
    portfolio raising

    One portfolio company has new financing on record in 6 months without this firm named on the round; the latest on 15 Jun 2026 ($1.1B sold on Form D).

    A portfolio company raising again is a follow-on decision for the firm and a co-investment opening for others.

    FactSEC Form D filingsFor Co-investors, LPs, lendersInvestments →

People to know

View all people
  • Mahmud Rowghani
    Managing Member
    Why: Named with investment responsibility
    No route on file yet
  • Mary Grace Meeker
    Managing Member
    Why: Named with investment responsibility
    No route on file yet
  • Noah Knauf
    Managing Member
    Why: Named with investment responsibility
    No route on file yet

Relationship network

16 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.

Reading the network
  • Company
  • Capital provider
  • 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 Bond: 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 Bond

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

Investing

2 companies on record, 2 new in 12 months

Investments on record

2 companies, 2 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
Baseten Labs, Inc.board seatunknown · boardJAY Simons (strongly supported)unknownunknownJun 30, 2026Inference Form D
KoBold Metals Coboard seatunknown · boardJAY Simons (strongly supported)unknownunknownJan 2, 2026Inference Form D

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: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
Other 50%Other Technology 50%
lead rate no observed dealsfollow-on rate no observed dealsnew companies, 12 months 2

Team

7 current, 1 departed

Decision makers

who to call first, and why; then everyone else by function
  • Mahmud Rowghani · Managing Member
    Why this person: Named with investment responsibility
  • Mary Grace Meeker · Managing Member
    Why this person: Named with investment responsibility
  • Noah Knauf · Managing Member
    Why this person: Named with investment responsibility

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

7 current, 1 departed
1 departed (kept with end dates)

Contacts

1 firm phone

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

Funds and LPs

6 vehicles, 1 LPs disclosed

Funds and vehicles

6 reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
Bond III, LPFund2023 adv first reportedActive deployment$3.3B
Mar 26, 2026
324$0
of $2.5B
Apr 1, 2022
Bond III Founders Fund, LPFund2023 adv first reportedActive deployment$1.3M
Sep 14, 2026
7unknownunknown
Bond II, LPFund2022 adv first reportedActive deployment$2.0B
Mar 26, 2026
368$0
of $2.0B
Mar 3, 2021

Limited partners

1 LPs, 1 disclosed commitments

Known LPs and allocators

1 relationship across the firm's funds, from public pensions and the allocator graph
AllocatorTypeFundAmountDateSource
California Public Employees' Retirement SystemSTATE RETIREMENT SYSTEMBond III, LP$75.0M
committed
reported as of Dec 31, 2025Fact Pension disclosure

Relationships across DFX

0 co-investors · on 2 other DFX graphs

Co-investors

0 counted from shared deals, for the whole firm
No co-investor relationship yet: these are derived only from rounds and portfolio listings the graph has seen both investors on.
Across DFX and the capital chainon 2 other DFX graphs · 3 capital paths Show
Across DFX
  • The same institution is held on Allocators, RIA and Wealth, matched by identifier. See which records
Across the graphs

Bond is the same institution as 2 records in Allocators and RIA and Wealth.

Allocators1RIA and Wealth1

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…

Capital chain

Bond sits on 3 traced paths of capital across the graphs.

Allocator to VC fund to manager to companyAllocator commitments to a manager

DFX traced 3 paths of capital through this record

Every record on each path, what it committed or lent, and as of when.

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

Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.

Checking your plan…

Evidence and history

11 dated events, 60 observations from 3 sources

Timeline

11 dated events
  1. Jan 1, 2026
    Alexander Krey joined Schedule A of Bond as Limited Partner
    Person joinedPeopleFactAlexander KreyForm ADV
  2. Jul 20, 2023
    Juliet de Baubigny (Limited Partner) no longer on Schedule A of Bond
    Person leftPeopleInferenceJuliet de BaubignyForm ADV
  3. Mar 24, 2023
    Bond III Founders Fund, LP first reported on Form ADV by Bond (Venture Capital Fund), GAV $759,486
    Fund first reported on Form ADVFundsFactBond III Founders Fund, LPForm ADV
  4. Mar 24, 2023
    Bond III, LP first reported on Form ADV by Bond (Venture Capital Fund), GAV $2,351,159,074
    Fund first reported on Form ADVFundsFactBond III, LPForm ADV
  5. Mar 23, 2022
    Bond II Founders Fund, LP first reported on Form ADV by Bond (Venture Capital Fund), GAV $14,572,885
    Fund first reported on Form ADVFundsFactBond II Founders Fund, LPForm ADV

Identity and regulatory footprint

Address, phone, Form ADV filing and ownersForm ADV filed Mar 26, 2026 · 6 private fundsShow
Headquarters
San Francisco, CAadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
Website
bondcap.com
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 26, 2026
Private funds reported
6 (6 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$8.0Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Owners on Schedule A
Bond Capital Management GP, LLC (General Partner), owns under 5%

Classification history

Every classification this record has carried3 on recordShow
  1. Sep 23, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $8.0B across 6 vehicles
  2. Sep 14, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $6.4B across 6 vehicles
  3. Sep 12, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $6.4B across 6 vehicles

Evidence

60 observations from 3 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
Why admittedVC exemption, VC funds reportedMar 26, 2026FactForm ADV
SEC exemption claimedVenture capital fund adviserMar 26, 2026FactForm ADV
SEC exemption claimedVenture capital fund adviserMar 29, 2024FactForm ADV
SEC adviser typeExempt reporting adviserMar 26, 2026FactForm ADV
SEC adviser typeExempt reporting adviserMar 26, 2026FactForm ADV
SEC adviser typeExempt reporting adviserMar 29, 2024FactForm ADV
First Form ADV filing2019-06-20Mar 26, 2026FactForm ADV
First Form ADV filing2019-06-20Mar 29, 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 filing2026-03-26Mar 26, 2026FactForm ADV
Latest Form ADV filing2026-03-26Mar 26, 2026FactForm ADV
Latest Form ADV filing2024-03-29Mar 29, 2024FactForm ADV
Adv pdf loadedadv-pdf-1Sep 14, 2026FactForm ADV
SEC statusERA - ActiveMar 26, 2026FactForm ADV
SEC status effective2019-06-20Mar 26, 2026FactForm ADV
Venture share of reported funds1Mar 26, 2026FactForm ADV
Venture share of reported funds1Mar 29, 2024FactForm ADV
Business phoneMar 26, 2026FactForm ADV
Business phoneMar 29, 2024FactForm ADV
DescriptionSep 30, 2026Fact
DescriptionSep 16, 2026Fact
DescriptionSep 13, 2026Fact
HeadquartersSan Francisco, CAMar 26, 2026FactForm ADV
HeadquartersSan Francisco, CAMar 29, 2024FactForm ADV
Office addressMar 26, 2026FactForm ADV
Office addressMar 29, 2024FactForm ADV
Legal formLimited PartnershipMar 26, 2026FactForm ADV
Legal formLimited PartnershipMar 29, 2024FactForm ADV
Portfolio pageSep 30, 2026Fact
Portfolio pageSep 16, 2026Fact
Portfolio pageSep 13, 2026Fact
Private funds reported6Mar 26, 2026FactForm ADV
Private funds reported6Mar 26, 2026FactForm ADV
Private funds reported6Mar 29, 2024FactForm ADV
Private fund gross assets (reported)$8.0BMar 26, 2026FactForm ADV
Private fund gross assets (reported)$8.0BMar 26, 2026FactForm ADV
Private fund gross assets (reported)$6.4BMar 29, 2024FactForm ADV
Schedule a diffsadiff-1Mar 26, 2026FactForm ADV
Venture funds reported6Mar 26, 2026FactForm ADV
Venture funds reported6Mar 26, 2026FactForm ADV
Venture funds reported6Mar 29, 2024FactForm ADV
WebsiteMar 26, 2026FactForm ADV
WebsiteMar 29, 2024FactForm ADV
Site titleSep 30, 2026Fact
Site titleSep 16, 2026Fact
Site titleSep 13, 2026Fact
How this is scored
Scores, classification basis and filing advisersInstitutional venture firm, confirmedShow
Importance
47
elevated
Active deployment
36
elevated
Emerging
0
low
Freshness
100
high
Institutional venture firmSEC exempt reporting adviser

Venture manager, reported GAV $8.0B across 6 vehicles

The inputs behind each score
importance
gav: 0.88 · funds: 0.5 · people: 0.44 · investments: 0.11 · co investors: 0
active deployment
investments 12m: 0.25 · fund raising 18m: 0 · people joined 12m: 0.33 · vintage within 3y: 1 · latest investment at: 2026-06-30
emerging manager
fund count: 6 · reported gav: $8.0B · first adv filing: 2019-06-20 · years since first filing: 7.3

Fits, record history and connections

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

Fits

6 scored matches, best firstas of
  • score 44.4confidence 100%
    Why: sector fit; geography fit; activity; analogous
    Watch: adjacent portfolio
  • score 44.4confidence 100%
    Why: sector fit; geography fit; activity; analogous
    Watch: adjacent portfolio
  • score 44.4confidence 100%
    Why: sector fit; geography fit; activity; analogous
    Watch: adjacent portfolio

+3 more scored matches

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

Scored by DFX match engines from the record's observed portfolio, stage, geography and recent activity. A fit is a reason to look, not a mandate; the blockers say what the model could not confirm. Names and the evidence sentences show with the names on this page.

Record history

1 dated event on the change ledger, latest event first
  • Adviser's first ADV filing
    2019-06-20source 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.