Northgate Capital, LLC

Multi-stage venture firmSEC-registered adviserClassification probable· Danville, CaliforniaNORTHGATE.COM

For more 25 years, Northgate has been partnering with leading venture capital companies and managers to provide long-term value and growth for entrepreneurs

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

Reported fund assets
$1.8B
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
None
Investment team
9
Latest vintage
2023
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

26 additional team members, 12 additional co-investors and affiliates, 65 additional investments, funds and LPs, 75 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.

Nothing material in the last 180 days.

People to know

View all people
  • Managing Partner
    Why: Managing partner: runs the firm
    No route on file yet
  • Partner
    Why: Partner: part of the investment decision
    No route on file yet

Relationship network

98 connected entities4 observed rounds1 repeat counterparty3 dated rounds shown here, 2012 to 2015

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
  • 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 Northgate 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 Northgate Capital, LLC

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

Investing

4 companies on record, 0 new in 12 months

Investments on record

4 companies, 4 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
Bluesportfolio listingunknownunknownunknownunknownSep 25, 2026Fact Company website
Folkstory, Inc.Form D equity offeringunknown · boardJared Walker Stone (strongly supported)$1.3M
form d sold
unknownMay 21, 2015Inference Form D
CentageForm D equity offeringunknown · boardJared Walker Stone (strongly supported)$9.5M
form d sold
unknownOct 1, 2014Inference Form D

Stated thesis versus observed behaviour

5 observed deals
Stated (the firm’s website)
Sectors
not stated or not yet read
Stages
growth
Geography
usa
Check size
not stated; DFX does not estimate checks from round sizes
Self-described
venture capital
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
unknown 100%
lead rate no observed dealsfollow-on rate 33%new companies, 12 months 0

Team

23 current, 4 departed

Decision makers

who to call first, and why; then everyone else by function
  • Casey Heiss Gordon · Managing Partner
    Why this person: Managing partner: runs the firm; Named with investment responsibility
  • Allan Chou · Partner
    Why this person: Partner: part of the investment decision; Named with investment responsibility
Who else at this firm · 1 person, grouped by function
Capital formation and investor relations (1)
  • Camille Chevalier · Client Service Manager
    Why this person: Leads capital formation or investor relations; 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

23 current, 4 departed
11 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

62 vehicles, 0 LPs disclosed

Funds and vehicles

62 reported, 5 no longer reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
Northgate Growth Fund II, L.P.Growth fund2023 adv first reportedActive deployment$54.7M
Jul 10, 2026
16unknownunknown
Northgate Growth Fund III, L.P.Growth fund2023 adv first reportedActive deployment$23.5M
Jul 10, 2026
6unknownunknown
Northgate Venture Partners X, L.P.Fund2022 form d first saleActive deployment$105M
Jul 10, 2026
24$67.2MMar 6, 2023

Limited partners

0 LPs, 0 disclosed commitments
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.

Known LPs and allocators

2 relationships across the firm's funds, from public pensions and the allocator graph
AllocatorTypeFundAmountDateSource
Gates Family FoundationFOUNDATIONNorthgate Venture Partners VI, L.P.$4.5M
fair value on the foundation's return
reported as of Dec 31, 2025Fact IRS Form 990 / 990-PF e-file returns
The Zellerbach Family FoundationFOUNDATIONUniversity Technology Ventures, L.P.$4,848
fair value on the foundation's return
reported as of Dec 31, 2024Fact IRS Form 990 / 990-PF e-file returns

Relationships across DFX

6 co-investors · on 5 other DFX graphs

Co-investors

6 counted from shared deals, for the whole firm
Across DFX and the capital chainon 5 other DFX graphs · 8 capital paths Show
Across DFX
  • Sponsor-market profile (matched by same CRD)
  • The same institution is held on Private Equity (2 records), RIA and Wealth (2 records), Allocators, Independent Sponsors, Private Credit, matched by identifier. See which records
Across the graphs

Northgate Capital, LLC is the same institution as 7 records in Private Equity, RIA and Wealth, Allocators, Independent Sponsors and Private Credit.

Private Equity2RIA and Wealth2Allocators1Independent Sponsors1Private Credit1

DFX found 7 relationships across 5 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

Northgate Capital, LLC sits on 8 traced paths of capital across the graphs.

Allocator commitments to a manager

DFX traced 8 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

80 dated events, 95 observations from 4 sources

Timeline

80 dated events
  1. Jul 10, 2026
    Northgate Select Opportunities Fund II, L.P. first reported on Form ADV by Northgate Capital, L.P. (Venture Capital Fund), GAV $8,070,080
    Fund first reported on Form ADVFundsInferenceNorthgate Select Opportunities Fund II, L.P.Form ADV
  2. Jul 10, 2026
    Northgate Select Opportunities Fund I, L.P. first reported on Form ADV by Northgate Capital, L.P. (Venture Capital Fund), GAV $18,205,859
    Fund first reported on Form ADVFundsInferenceNorthgate Select Opportunities Fund I, L.P.Form ADV
  3. Jul 10, 2026
    Northgate Select Opportunities Fund III, L.P. first reported on Form ADV by Northgate Capital, L.P. (Venture Capital Fund), GAV $9,934,936
    Fund first reported on Form ADVFundsInferenceNorthgate Select Opportunities Fund III, L.P.Form ADV
  4. Jul 10, 2026
    Northgate Flex Spv, L.P. first reported on Form ADV by Northgate Capital, L.P. (Venture Capital Fund), GAV $64,128,021
    Fund first reported on Form ADVFundsInferenceNorthgate Flex Spv, L.P.Form ADV
  5. Jul 10, 2026
    Northgate Growth Fund IV, L.P. first reported on Form ADV by Northgate Capital, L.P. (Venture Capital Fund), GAV $26,737,821
    Fund first reported on Form ADVFundsInferenceNorthgate Growth Fund IV, L.P.Form ADV

Identity and regulatory footprint

Address, phone, Form ADV filing and ownersForm ADV filed Jul 10, 2026 · 67 private fundsShow
Headquarters
Danville, CAadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
SEC adviser type
Registered investment adviseradviserinfo.sec.gov
SEC exemption claimed
unknown
Latest Form ADV
Jul 10, 2026
Private funds reported
67 (38 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$1.8Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Regulatory AUM
$2.9Bthe adviser's RAUM, a regulatory measure, never a fund size
Employees
27
Owners on Schedule A
Religare Global Asset Management, Inc. (Member), owns 50% to 75%; Rgam Investment Advisers Private Limited (Shareholder), owns 75% or more; Religare Enterprises Limited (Shareholder), owns 75% or more

Classification history

Every classification this record has carried3 on recordShow
  1. Sep 23, 2026
    Multi-stage venture firm (probable, 80%)
    Both early and growth/opportunity families, reported GAV $1.8B
  2. Sep 15, 2026
    Multi-stage venture firm (probable, 80%)
    Both early and growth/opportunity families, reported GAV $2.3B
  3. Sep 12, 2026
    Multi-stage venture firm (probable, 80%)
    Both early and growth/opportunity families, reported GAV $2.0B

Evidence

96 observations from 4 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
Why admittedVC funds reportedJul 10, 2026FactForm ADV
SEC adviser typeRegistered investment adviserJul 10, 2026FactForm ADV
SEC adviser typeRegistered investment adviserJul 10, 2026FactForm ADV
SEC adviser typeRegistered investment adviserMar 28, 2024FactForm ADV
SEC adviser typeRegistered investment adviserDec 8, 2014FactForm ADV
First Form ADV filing2011-11-14Jul 10, 2026FactForm ADV
First Form ADV filing2011-11-14Mar 28, 2024FactForm ADV
First Form ADV filing2011-11-14Dec 8, 2014FactForm 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 filing2026-07-10Jul 10, 2026FactForm ADV
Latest Form ADV filing2026-07-10Jul 10, 2026FactForm ADV
Latest Form ADV filing2024-03-28Mar 28, 2024FactForm ADV
Latest Form ADV filing2014-12-08Dec 8, 2014FactForm ADV
SEC statusApprovedJul 10, 2026FactForm ADV
SEC status effective2006-11-24Jul 10, 2026FactForm ADV
Venture share of reported funds1Jul 10, 2026FactForm ADV
Venture share of reported funds1Mar 28, 2024FactForm ADV
Venture share of reported funds0Dec 8, 2014FactForm ADV
Business phoneJul 10, 2026FactForm ADV
Business phoneMar 28, 2024FactForm ADV
Business phoneDec 8, 2014FactForm ADV
DescriptionSep 16, 2026Fact
Employees27Jul 10, 2026FactForm ADV
Employees36Mar 28, 2024FactForm ADV
Employees36Dec 8, 2014FactForm ADV
HeadquartersDanville, CAJul 10, 2026FactForm ADV
HeadquartersDanville, CAMar 28, 2024FactForm ADV
HeadquartersDanville, CADec 8, 2014FactForm ADV
Office addressJul 10, 2026FactForm ADV
Office addressMar 28, 2024FactForm ADV
Office addressDec 8, 2014FactForm ADV
Self-described typeVenture capital
“Accelerating access to venture capital”
Sep 16, 2026Fact
Legal formJul 10, 2026FactForm ADV
PE funds reported29Jul 10, 2026FactForm ADV
Private funds reported67Jul 10, 2026FactForm ADV
Private funds reported67Jul 10, 2026FactForm ADV
Private funds reported65Mar 28, 2024FactForm ADV
Private funds reported0Dec 8, 2014FactForm ADV
Private fund gross assets (reported)$1.8BJul 10, 2026FactForm ADV
Private fund gross assets (reported)$1.8BJul 10, 2026FactForm ADV
Private fund gross assets (reported)$2.5BMar 28, 2024FactForm ADV
Regulatory AUM (adviser, not fund size)$2.9BJul 10, 2026FactForm ADV
Regulatory AUM (adviser, not fund size)$4.1BMar 28, 2024FactForm ADV
Schedule a diffsadiff-1Sep 29, 2026FactForm ADV
Stated geographyusa
“geography words on the home page”
Sep 16, 2026Fact
Stated stagesgrowth
“stage words on the home page”
Sep 16, 2026Fact
Team pageSep 16, 2026Fact
Venture funds reported38Jul 10, 2026FactForm ADV
Venture funds reported38Jul 10, 2026FactForm ADV
Venture funds reported36Mar 28, 2024FactForm ADV
Venture funds reported0Dec 8, 2014FactForm ADV
WebsiteMar 28, 2024FactForm ADV
WebsiteDec 8, 2014FactForm ADV
Site titleSep 16, 2026Fact
How this is scored
Scores, classification basis and filing advisersMulti-stage venture firm, probable · 2 filing advisers share this firmShow
Importance
55
elevated
Active deployment
25
moderate
Emerging
0
low
Freshness
100
high
Multi-stage venture firm · probableSEC registered investment adviser

Both early and growth/opportunity families, reported GAV $1.8B

This firm files as 2 advisers on northgate.com: NC III, L.L.C.. Each keeps its own CRD, funds and filings; the grouping is the website each swore to on Form ADV and is recomputed every pass.

The inputs behind each score
importance
gav: 0.68 · funds: 1 · people: 0.44 · investments: 0.26 · co investors: 0.31
active deployment
investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: not scored
emerging manager
fund count: 67 · reported gav: $1.8B · first adv filing: 2011-11-14 · years since first filing: 14.9

Fits, record history and connections

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

Record history

1 dated event on the change ledger, latest event first
  • Adviser's first ADV filing
    2011-11-14source 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.