FPV Management, LLC

Institutional venture firmSEC venture capital fund adviser· Jackson, Wyomingfpvventures.com

Institutional venture firm, based in Jackson, Wyoming, reporting $1.1B of fund assets on its funds' Form ADV filings.

Composed from this organization's classification, location and filed figures.

Reported fund assets
$1.1B
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
2
Investment team
3
Latest vintage
2025
Contact decision makers
More
Ask DFX about thisView relationshipsFind contactsInvestments (2)Team (3)Funds
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

1 additional investment, fund or LP, 1 event, 2 verified contacts (1 firm phone, 1 professional url)

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 pageFor Founders, co-investorsInvestments →
  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 22 May 2026 ($15M 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
  • Pegah Ebrahimi
    Managing Member
    Why: Named with investment responsibility
    Profile
  • Wesley T Chan
    Managing Member
    Why: Named with investment responsibility
    No route on file yet

Relationship network

9 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
  • 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 FPV Management, 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 FPV Management, LLC

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
Piston Technologies, Inc.board seatunknown · boardPegah Ebrahimi (strongly supported)unknownunknownJun 1, 2026Inference Form D
Strand Therapeutics Inc.board seatunknown · boardPegah Ebrahimi (strongly supported)unknownunknownMar 17, 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%Biotechnology 50%
lead rate no observed dealsfollow-on rate no observed dealsnew companies, 12 months 2

Team

3 current, 0 departed

Decision makers

who to call first, and why; then everyone else by function
  • Pegah Ebrahimi · Managing Member
    Why this person: Named with investment responsibility
    LinkedIn or profile link on file (firm website), confirmed 2026-10-01, confidence 90%
  • Wesley T Chan · 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. 1 with a route on file. 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

3 current, 0 departed

Contacts

1 firm phone, 1 professional url

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

Funds and LPs

4 vehicles, 0 LPs disclosed

Funds and vehicles

4 reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
FPV Strand SPV, L.P.SPV or co-invest vehicle2025 form d first saleFundraising$3.0M
Mar 13, 2026
1$3.0MApr 3, 2026
FPV Fund I, LPFund2022 form d first saleActive deployment$499M
Mar 13, 2026
119$358MApr 11, 2022
FPV Fund II, L.P.FundunknownUnknown$550M
Mar 13, 2026
92$0Feb 3, 2025

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
Hess Philanthropic FundFOUNDATIONFPV Fund I, LP$1.1M
fair value on the foundation's return
reported as of Nov 30, 2025Fact IRS Form 990 / 990-PF e-file returns
Peter G Peterson FoundationFOUNDATIONFPV Fund I, LP$3.5M
fair value on the foundation's return
reported as of Mar 31, 2025Fact IRS Form 990 / 990-PF e-file returns

Relationships across DFX

1 co-investors · on 2 other DFX graphs

Co-investors

1 counted from shared deals, for the whole firm
Across DFX and the capital chainon 2 other DFX graphs · 2 capital paths Show
Across DFX
  • The same institution is held on Allocators, RIA and Wealth, matched by identifier. See which records
Across the graphs

FPV Management, LLC 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

FPV Management, LLC sits on 2 traced paths of capital across the graphs.

Allocator commitments to a manager

DFX traced 2 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

6 dated events, 53 observations from 4 sources

Timeline

6 dated events
  1. seen on or beforeSep 15, 2026
    FPV Management, LLC: MICRO_VC -> INSTITUTIONAL_VC (venture manager, reported GAV $450M across 4 vehicles)
    Classification changedClassificationInference
  2. Mar 13, 2026
    FPV Fund II, L.P. first reported on Form ADV by FPV Management, LLC (Venture Capital Fund), GAV $550,232,210
    Fund first reported on Form ADVFundsInferenceFPV Fund II, L.P.Form ADV
  3. Mar 13, 2026
    FPV Strand Spv, L.P. first reported on Form ADV by FPV Management, LLC (Venture Capital Fund), GAV $3,046,961
    Fund first reported on Form ADVFundsInferenceFPV Strand SPV, L.P.Form ADV
  4. May 10, 2022
    FPV Management, LLC first filed Form ADV (ERA, venture capital fund adviser exemption)
    First SEC adviser filingOrganizationFactForm ADV
  5. May 10, 2022
    FPV Fund I, LP first reported on Form ADV by FPV Management, LLC (Venture Capital Fund), GAV $422,315,000
    Fund first reported on Form ADVFundsFactFPV Fund I, LPForm ADV

Identity and regulatory footprint

Address, phone, Form ADV filing and ownersForm ADV filed Mar 13, 2026 · 4 private fundsShow
Headquarters
Jackson, WYadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
Website
fpvventures.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 13, 2026
Private funds reported
4 (4 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$1.1Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder

Classification history

Every classification this record has carried4 on recordShow
  1. Sep 23, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $1.1B across 4 vehicles
  2. Sep 15, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $450M across 4 vehicles
  3. Sep 12, 2026
    Micro VC (confirmed, 95%)
    Venture manager, reported GAV $8.3M across 3 vehicles
  4. Sep 12, 2026
    Micro VC (confirmed, 95%)
    Venture manager, reported GAV $8.3M across 1 vehicle

Evidence

54 observations from 4 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
Why admittedVC exemption, VC funds reportedMar 13, 2026FactForm ADV
SEC exemption claimedVenture capital fund adviserMar 13, 2026FactForm ADV
SEC exemption claimedVenture capital fund adviserMar 7, 2024FactForm ADV
SEC adviser typeExempt reporting adviserMar 13, 2026FactForm ADV
SEC adviser typeExempt reporting adviserMar 13, 2026FactForm ADV
SEC adviser typeExempt reporting adviserMar 7, 2024FactForm ADV
First Form ADV filing2022-05-10Mar 13, 2026FactForm ADV
First Form ADV filing2022-05-10Mar 7, 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 filing2026-03-13Mar 13, 2026FactForm ADV
Latest Form ADV filing2026-03-13Mar 13, 2026FactForm ADV
Latest Form ADV filing2024-03-07Mar 7, 2024FactForm ADV
SEC statusERA - ActiveMar 13, 2026FactForm ADV
SEC status effective2022-05-10Mar 13, 2026FactForm ADV
Venture share of reported funds1Mar 13, 2026FactForm ADV
Venture share of reported funds1Mar 7, 2024FactForm ADV
Business phoneMar 13, 2026FactForm ADV
Business phoneMar 7, 2024FactForm ADV
HeadquartersJackson, WYMar 13, 2026FactForm ADV
HeadquartersJackson, WYMar 7, 2024FactForm ADV
Office addressMar 13, 2026FactForm ADV
Office addressMar 7, 2024FactForm ADV
Legal formLimited Liability CompanyMar 13, 2026FactForm ADV
Legal formLimited Liability CompanyMar 7, 2024FactForm ADV
Portfolio pageOct 1, 2026Fact
Portfolio pageSep 16, 2026Fact
Portfolio pageSep 13, 2026Fact
Private funds reported4Mar 13, 2026FactForm ADV
Private funds reported4Mar 13, 2026FactForm ADV
Private funds reported2Mar 7, 2024FactForm ADV
Private fund gross assets (reported)$1.1BMar 13, 2026FactForm ADV
Private fund gross assets (reported)$1.1BMar 13, 2026FactForm ADV
Private fund gross assets (reported)$450MMar 7, 2024FactForm ADV
Schedule a diffsadiff-1Sep 23, 2026FactForm ADV
Team pageOct 1, 2026Fact
Team pageSep 16, 2026Fact
Team pageSep 13, 2026Fact
Venture funds reported4Mar 13, 2026FactForm ADV
Venture funds reported4Mar 13, 2026FactForm ADV
Venture funds reported2Mar 7, 2024FactForm ADV
WebsiteMar 7, 2024FactForm ADV
Site titleOct 1, 2026Fact
Site titleSep 16, 2026Fact
Site titleSep 13, 2026Fact
How this is scored
Scores, classification basis and filing advisersInstitutional venture firm, confirmedShow
Importance
31
moderate
Active deployment
33
moderate
Emerging
0
low
Freshness
100
high
Institutional venture firmSEC exempt reporting adviser

Venture manager, reported GAV $1.1B across 4 vehicles

The inputs behind each score
importance
gav: 0.61 · funds: 0.33 · people: 0.16 · investments: 0.11 · co investors: 0
active deployment
investments 12m: 0.25 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: 2026-06-01
emerging manager
fund count: 4 · reported gav: $1.1B · first adv filing: 2022-05-10 · years since first filing: 4.4

Fits, record history and connections

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

Fits

7 scored matches, best firstas of
  • score 43.9confidence 100%
    Why: sector fit; geography fit; activity; analogous
    Watch: adjacent portfolio
  • score 33.9confidence 90%
    Why: sector fit; activity; analogous
    Watch: adjacent portfolio
  • score 33.9confidence 90%
    Why: sector fit; activity; analogous
    Watch: adjacent portfolio

+4 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

2 dated events on the change ledger, latest event first
  • Organization classification changed
    2026-09-15
  • Adviser's first ADV filing
    2022-05-10source 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.