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 / Treasury Fund Management LLC
Treasury Fund Management LLC
From the founders of Betterment and Acorns. With a foundation in starting and scaling companies that are shaping modern finance, Treasury backs the most ambitious fintech builders at an early stage.
venture manager, reported GAV $89M across 2 vehicles
Importance
16
moderate
Active deployment
8
low
Emerging
55
elevated
Completeness
69
high
Freshness
100
high
Research priority
18
moderate
Identity and regulatory footprint
- Headquarters
- New York, NYadviserinfo.sec.gov
- Office address
- 99 HUDSON STREET, 10TH FLOOR, New York, NY, 10013adviserinfo.sec.gov
- Business phone
- 516-603-9394adviserinfo.sec.gov
- Website
- https://www.thetreasury.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
- Jun 4, 2026
- Private funds reported
- 2 (2 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $89.3Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- Bear General LLC (Manager), D
- business phone
- 516-603-9394adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
2 observed deals
Stated (the firm’s website)
- Sectors
- ai, fintech, healthcare, marketplaces, proptech, b2b
- Stages
- early
- Geography
- asia, emerging markets, global, globally, mena, new york, southeast
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- family office
Observed (from deals on record)
Stage at participation
seed 100%
Stage at first entry
seed 100%
Sectors
unknown 50%Other Technology 50%
lead rate 50%follow-on rate 0%new logos, 12 months 2
Funds and vehicles
2 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Treasury Fund II, LP | Fund | unknown | Unknown | $66.2M Mar 31, 2024 | 28 | unknown | unknown |
| Treasury Fund I, LP | Fund | unknown | Unknown | $23.0M Mar 31, 2024 | 18 | unknown | unknown |
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
2 current, 0 departed
ELI David Broverman
PartnerManager · since Jan 1, 2016
Jeffrey James Cruttenden
PartnerManager · since Mar 1, 2022
Investments on record
2 edges, 2 companies, 0 partner-attributed
| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| Monark | Funding round | participant | unknown | $8.1M | unknown | Feb 18, 2026 | Fact Press release wires (Business Wire, PR Newswire, GlobeNewswire public RSS) |
| Tesoro XP, Inc. | Seed Round · Seed | lead | unknown | $5.4M | unknown | Jan 6, 2026 | Fact Press release wires (Business Wire, PR Newswire, GlobeNewswire public RSS) |
“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
3 relationships from shared deals, counted for the whole firm
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
3 dated events
- Feb 22, 2023Treasury Fund Management 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)
- Feb 22, 2023Treasury Fund II, LP first reported on Form ADV by Treasury Fund Management LLC (Venture Capital Fund), GAV $8,527,402Fund first reported on Form ADVFundsFactTreasury Fund II, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Feb 22, 2023Treasury Fund I, LP first reported on Form ADV by Treasury Fund Management LLC (Venture Capital Fund), GAV $23,141,723Fund first reported on Form ADVFundsFactTreasury Fund I, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $89M across 2 vehicles
Evidence
43 observations from 3 sources