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 / Next Level Ventures, LLC
Next Level Ventures, LLC
Next Level is a leading investment firm in the Midwest & beyond providing strategic investment for companies ranging from seed funding to growth-stage funding.
corporate parent: Polar Ridge, Inc.
Importance
38
elevated
Active deployment
55
elevated
Emerging
0
low
Completeness
75
high
Freshness
100
high
Research priority
19
moderate
Identity and regulatory footprint
- Headquarters
- Des Moines, IAadviserinfo.sec.gov
- Office address
- 606 WALNUT STREET, SUITE 2260, Des Moines, IA, 50309-3902adviserinfo.sec.gov
- Business phone
- 515-369-2600adviserinfo.sec.gov
- Website
- http://www.nextlevelvc.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 31, 2026
- Private funds reported
- 5 (5 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $692Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- Craig I. Ibsen Living Trust (Shareholder), E; Polar Ridge, Inc. (Member), E
- business email
- info@nextlevelvc.comnextlevelvc.compublished by the subject
- business phone
- 515-369-2600adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
30 observed deals
Stated (the firm’s website)
- Sectors
- fintech
- Stages
- seed, growth
- Geography
- global
- 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 73%Other Technology 23%Other Health Care 3%
lead rate n/afollow-on rate n/anew logos, 12 months 30
Funds and vehicles
4 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Curql Fund II, LLLP | Fund | 2024 form d first sale | Early deployment | $0 Mar 29, 2024 | 0 | $224M of $500M | Feb 5, 2025 |
| Curql Fund I, LLLP | Fund | 2021 adv first reported | Mature | $240M Mar 29, 2024 | 69 | unknown | unknown |
| Next Level Ventures Fund I, LLLP | Fund | 2013 form d first sale | Harvest | $17.0M Mar 29, 2024 | 65 | $38.1M of $50.0M | Dec 15, 2015 |
| Next Level Ventures Fund II, LLLP | Fund | unknown | Unknown | $28.2M Mar 29, 2024 | 35 | $0 of $50.0M | May 2, 2018 |
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
17 current, 0 departed
Jacob Gaspar
AnalystAnalyst
Wyatt Powers
AssociateAssociate
Craig Irvin Ibsen
Board or advisoryTrustee · since Jan 1, 2018
Ryan Gerhardy
Board or advisorySenior Advisor
Scott Hoekman
Board or advisorySenior Advisor
Tej Dhawan
Board or advisorySenior Advisor
Todd Skokan
Board or advisorySenior Advisor
Craig Ibsen
Managing partnerManaging Partner
Dave Tucker
PartnerPartner
Duane Harris
PartnerPartner
Liz Keehner
PartnerPartner
Michael Perrin
PartnerPartner
Roger Scholten
Platform and operationsPartner and General Counsel
Barbara Gooch
PrincipalDirector of Administration
Elizabeth Caven
PrincipalPrincipal
Martin Walker
PrincipalPrincipal
Investments on record
30 edges, 30 companies, 0 partner-attributed
“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
19 relationships from shared deals, counted for the whole firm
TTV Capital 2 shared · recurringHyde Park Angels, Inc. 2 shared · recurringRiverside Acceleration Capital 1 shared · one time · they led 1Glasswing Ventures, LLC 1 shared · one timeCurql Collective 1 shared · one timeOpen Opportunity Management, LLC 1 shared · one timeEthos Manager LLC 1 shared · one timeAnthemis 1 shared · one timeThe Venture Collective LLC 1 shared · one timeOWL Ventures 1 shared · one timeHack Vc Management, LLC 1 shared · one timeGreat North Ventures 1 shared · one timeA-Star Partners, LLC 1 shared · one timeChartline Capital Partners 1 shared · one timeZelkova Management, LLC 1 shared · one timeInnova Memphis, Inc. 1 shared · one timeWind Point Partners 1 shared · one timeNava Ventures, LLC 1 shared · one timeMutual Capital Partners Funds 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
32 dated events
- Sep 16, 2026MakuSafe Corp. no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceMakuSafe Corp.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Pitchly, Inc. no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferencePitchly, Inc.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Viewpointmt no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceViewpointmtVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Getconnectivity no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceGetconnectivityVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Builtbyhlt no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceBuiltbyhltVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Arcoro no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceArcoroVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Vertex no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceVertexVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026vidalung.ai no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferencevidalung.aiVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Taponit no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceTaponitVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026PatientFi, Inc. no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferencePatientFi, Inc.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Roboflow, Inc. no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceRoboflow, Inc.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026BlastPoint, Inc. no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceBlastPoint, Inc.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Akuvo LLC no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceAkuvo LLCVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Certintell, Inc. no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceCertintell, Inc.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026iotaMotion, Inc. no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceiotaMotion, Inc.Venture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Winpropet no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceWinpropetVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Tractor-Zoom-blue no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceTractor-Zoom-blueVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Openloophealth no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceOpenloophealthVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Algae no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceAlgaeVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Mach no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceMachVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Alluresecurity no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceAlluresecurityVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Neuralpayments no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceNeuralpaymentsVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Creditmountain no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceCreditmountainVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026portx.io no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceportx.ioVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Maxwell no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceMaxwellVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Greenlight no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceGreenlightVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Bankjoy no longer listed on Next Level Ventures, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceBankjoyVenture organization websites (about, team, portfolio, thesis, news pages)
- Mar 29, 2024Curql Fund II, LLLP first reported on Form ADV by Next Level Ventures, LLC (Venture Capital Fund)Fund first reported on Form ADVFundsFactCurql Fund II, LLLPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Feb 5, 2021Curql Fund I, LLLP first reported on Form ADV by Next Level Ventures, LLC (Venture Capital Fund)Fund first reported on Form ADVFundsFactCurql Fund I, LLLPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Aug 29, 2019Next Level Ventures, LLC first filed Form ADV (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Aug 29, 2019Next Level Ventures Fund II, LLLP first reported on Form ADV by Next Level Ventures, LLC (Venture Capital Fund), GAV $36,841,912Fund first reported on Form ADVFundsFactNext Level Ventures Fund II, LLLPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Aug 29, 2019Next Level Ventures Fund I, LLLP first reported on Form ADV by Next Level Ventures, LLC (Venture Capital Fund), GAV $32,479,768Fund first reported on Form ADVFundsFactNext Level Ventures Fund I, LLLPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 12, 2026Corporate venture (confirmed, 95%, cls-1)corporate parent: Polar Ridge, Inc.
Evidence
49 observations from 3 sources