Squadra Ventures
We invest in early-stage cyber and national security companies advancing the critical edge.
In the firm's own words, from its website.
5 additional team members, 7 additional co-investors and affiliates, 3 additional investments, funds and LPs, 2 verified contacts (1 general firm email, 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
- 3 companiesnew in 12 months
3 new companies in the last 12 months.
A firm writing cheques this quarter is one a founder can pitch now.
- 1 companyportfolio raising
One portfolio company has new financing on record in 6 months without this firm named on the round; the latest on 10 Apr 2026 ($11.5M sold on Form D).
A portfolio company raising again is a follow-on decision for the firm and a co-investment opening for others.
People to know
View all people- Principal, National SecurityWhy: Principal on the deal teamNo route on file yet
- PrincipalWhy: Principal on the deal teamNo route on file yet
- Principal, InvestmentsWhy: Principal on the deal teamNo route on file yet
Relationship network
27 connected entities4 observed rounds1 repeat counterparty1 dated round shown here, 2026
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.
- Sponsor
- Company
- 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 Squadra Ventures: 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 Squadra Ventures
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
6 companies on record, 3 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.| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| Share your deck | portfolio listing | unknown | unknown | unknown | unknown | Oct 1, 2026 | Fact Firm website |
| Endolith Mining | portfolio listing | lead | unknown | unknown | unknown | Sep 18, 2026 | Fact Company website |
| Phin Security, Inc. | board seat | unknown · board | Margaret Roth (strongly supported) | unknown | unknown | Apr 21, 2026 | Inference Form D |
Stated thesis versus observed behaviour
- Sectors
- enterprise software, defense, industrial
- Stages
- seed, growth, early
- Geography
- washington, dc
- Check size
- not stated; DFX does not estimate checks from round sizes
Team
9 current, 0 departed
Decision makers
- Dan Madden · Principal, National SecurityWhy this person: Principal on the deal team; Named with investment responsibility
- Margaret Roth · PrincipalWhy this person: Principal on the deal team; Named with investment responsibility
- Navneet Vishwanathan · Principal, InvestmentsWhy this person: Principal on the deal team; 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
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.- Principal · 1 deal attributed
- Principal, National Security
- Principal, Investments
Contacts
1 general firm email, 1 firm phone on record, each with its source. Values open with the complete profile.
Funds and LPs
3 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 |
|---|---|---|---|---|---|---|---|
| Squadra Ventures III, LP | Fund | 2025 form d first sale | Fundraising | $25.0M Mar 30, 2026 | 8 | $24.0M | Mar 26, 2026 |
| Squadra Ventures II, LP | Fund | unknown | Unknown | $162M Mar 30, 2026 | 200 | $0 | Feb 2, 2022 |
| Squadra Ventures I, LP | Fund | unknown | Unknown | $67.2M Mar 30, 2026 | 88 | 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.| Allocator | Type | Fund | Amount | Date | Source |
|---|---|---|---|---|---|
| Stephen and Renee Bisciotti Foundation Inc | FOUNDATION | SQUADRA VENTURES II QP at Squadra Ventures | $323,521 fair value on the foundation's return | reported as of Dec 31, 2024 | Fact IRS Form 990 / 990-PF e-file returns |
| Stephen and Renee Bisciotti Foundation Inc | FOUNDATION | SQUADRA VENTURES LP at Squadra Ventures | $1.8M fair value on the foundation's return | reported as of Dec 31, 2024 | Fact IRS Form 990 / 990-PF e-file returns |
Relationships across DFX
10 co-investors · on 1 other DFX graph
Co-investors
- 2026-09-181 shared deal · one time · this firm led 1
- 2026-04-131 shared deal · one time
- 2026-04-131 shared deal · one time
Across DFX and the capital chainon 1 other DFX graph · 1 capital path ShowHide
- The same institution is held on Allocators, matched by identifier. See which records
Squadra Ventures is the same institution as 1 record in Allocators.
The joined record opens with the product, beside every other relationship on this page.
Checking your plan…
Squadra Ventures sits on 1 traced path of capital across the graphs.
DFX traced 1 path 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
5 dated events, 63 observations from 4 sources
Timeline
- Mar 30, 2026Squadra Ventures III, LP first reported on Form ADV by Squadra Ventures (Venture Capital Fund), GAV $25,000,000
- Mar 26, 2026Squadra Ventures filed the first Form D for Squadra Ventures III, LP (fund 3), its next fund after Squadra Ventures II, LP (vintage 2022)
- Apr 11, 2024Squadra Ventures first filed Form ADV (ERA, venture capital fund adviser exemption)
- Apr 11, 2024Squadra Ventures II, LP first reported on Form ADV by Squadra Ventures (Venture Capital Fund), GAV $110,000,000
- Apr 11, 2024Squadra Ventures I, LP first reported on Form ADV by Squadra Ventures (Venture Capital Fund), GAV $56,015,658
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 30, 2026 · 3 private fundsShowHide
- Headquarters
- Baltimore, MDadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- squadra.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 30, 2026
- Private funds reported
- 3 (3 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets, adviser total
- $254Madviserinfo.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 23, 2026Institutional venture firm (confirmed, 95%)Venture manager, reported GAV $254M across 3 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 95%)Venture manager, reported GAV $166M across 3 vehicles
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 30, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Mar 30, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Apr 11, 2024 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 30, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 30, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Apr 11, 2024 | Fact | Form ADV |
| First Form ADV filing | 2024-04-11 | Mar 30, 2026 | Fact | Form ADV |
| First Form ADV filing | 2024-04-11 | Apr 11, 2024 | 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 |
| Adv history loaded | adv-hist-1 | Sep 12, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-03-30 | Mar 30, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-03-30 | Mar 30, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2024-04-11 | Apr 11, 2024 | Fact | Form ADV |
| SEC status | ERA - Active | Mar 30, 2026 | Fact | Form ADV |
| SEC status effective | 2024-04-11 | Mar 30, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Mar 30, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Apr 11, 2024 | Fact | Form ADV |
| Business phone | Mar 30, 2026 | Fact | Form ADV | |
| Business phone | Apr 11, 2024 | Fact | Form ADV | |
| Description | Oct 1, 2026 | Fact | ||
| Description | Sep 16, 2026 | Fact | ||
| Description | Sep 13, 2026 | Fact | ||
| Headquarters | Baltimore, MD | Mar 30, 2026 | Fact | Form ADV |
| Headquarters | Baltimore, MD | Apr 11, 2024 | Fact | Form ADV |
| Office address | Mar 30, 2026 | Fact | Form ADV | |
| Office address | Apr 11, 2024 | Fact | Form ADV | |
| Legal form | Limited Liability Company | Mar 30, 2026 | Fact | Form ADV |
| Legal form | Limited Liability Company | Apr 11, 2024 | Fact | Form ADV |
| Portfolio page | Oct 1, 2026 | Fact | ||
| Portfolio page | Sep 16, 2026 | Fact | ||
| Portfolio page | Sep 13, 2026 | Fact | ||
| Private funds reported | 3 | Mar 30, 2026 | Fact | Form ADV |
| Private funds reported | 3 | Mar 30, 2026 | Fact | Form ADV |
| Private funds reported | 2 | Apr 11, 2024 | Fact | Form ADV |
| Private fund gross assets (reported) | $254M | Mar 30, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $254M | Mar 30, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $166M | Apr 11, 2024 | Fact | Form ADV |
| Schedule a diff | sadiff-1 | Mar 30, 2026 | Fact | Form ADV |
| Stated geography | washington, dc “geography words on the home page” | Oct 1, 2026 | Fact | |
| Stated geography | washington, dc “geography words on the home page” | Sep 16, 2026 | Fact | |
| Stated geography | washington, dc “geography words on the home page” | Sep 13, 2026 | Fact | |
| Stated sectors | Enterprise software, defense, industrial “sector words on the home page” | Oct 1, 2026 | Fact | |
| Stated sectors | Enterprise software, defense, industrial “sector words on the home page” | Sep 16, 2026 | Fact | |
| Stated sectors | Enterprise software, defense, industrial “sector words on the home page” | Sep 13, 2026 | Fact | |
| Stated stages | Seed, growth, early “stage words on the home page” | Oct 1, 2026 | Fact | |
| Stated stages | Seed, growth, early “stage words on the home page” | Sep 16, 2026 | Fact | |
| Stated stages | Seed, growth, early “stage words on the home page” | Sep 13, 2026 | Fact | |
| Team page | Oct 1, 2026 | Fact | ||
| Team page | Sep 16, 2026 | Fact | ||
| Team page | Sep 13, 2026 | Fact | ||
| Venture funds reported | 3 | Mar 30, 2026 | Fact | Form ADV |
| Venture funds reported | 3 | Mar 30, 2026 | Fact | Form ADV |
| Venture funds reported | 2 | Apr 11, 2024 | Fact | Form ADV |
| Website | Apr 11, 2024 | Fact | Form ADV | |
| Site title | Oct 1, 2026 | Fact | ||
| Site title | Sep 16, 2026 | Fact | ||
| Site title | Sep 13, 2026 | Fact |
How this is scored
Scores, classification basis and filing advisersInstitutional venture firm, confirmedShowHide
Venture manager, reported GAV $254M across 3 vehicles
- importance
- gav: 0.43 · funds: 0.25 · people: 0.28 · investments: 0.31 · co investors: 0.4
- active deployment
- investments 12m: 0.38 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: 2026-04-21
- emerging manager
- fund count: 3 · reported gav: $254M · first adv filing: 2024-04-11 · years since first filing: 2.5
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Fits
- score 64.8confidence 100%Why: sector fit; stage fit; activity; analogousWatch: adjacent portfolio
- score 49.8confidence 100%Why: sector fit; geography fit; activity; analogousWatch: adjacent portfolio
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
- Adviser's first ADV filing2024-04-11source 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.