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 / Halyard Capital Management, LLC
Halyard Capital Management, LLC
venture manager, reported GAV $127M across 3 vehicles
Importance
23
moderate
Active deployment
23
moderate
Emerging
0
low
Completeness
63
high
Freshness
100
high
Research priority
10
low
Identity and regulatory footprint
- Headquarters
- Sarasota, FLadviserinfo.sec.gov
- Office address
- 1990 MAIN STREET, SUITE 750, Sarasota, FL, 34236adviserinfo.sec.gov
- Business phone
- 917-767-3207adviserinfo.sec.gov
- Website
- HTTP://WWW.HALYARD.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 30, 2026
- Private funds reported
- 3 (0 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $187Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- HCM Capital, L.L.C. (Managing Member), E
- business email
- info@halyard.comhalyard.compublished by the subject
- business phone
- 917-767-3207adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
6 observed deals
Stated (the firm’s website)
- Sectors
- cybersecurity
- 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
unknown 100%
lead rate n/afollow-on rate n/anew logos, 12 months 6
Funds and vehicles
3 reported, 1 no longer reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Halyard Capital Fund III, L.P. | Fund · ADV: Private Equity Fund | 2016 adv first reported | Harvest | $4.2M Jun 24, 2024 | 13 | $0 of $300M | Jun 22, 2015 |
| Halyard Capital Fund II, L.P. | Fund · ADV: Private Equity Fund | unknown | Unknown | $119M Jun 24, 2024 | 27 | unknown | unknown |
| Halyard Capital Fund II (parallel), L.P. | Feeder or parallel · ADV: Private Equity Fund | unknown | Unknown | $3.8M Jun 24, 2024 | 11 | unknown | unknown |
| Eddy Holdings B, LP | Fund · ADV: Private Equity Fund | 2016 adv first reported | Wound down | $1.1M Mar 29, 2023 | 9 | 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, 3 departed
Sector Focus
OtherInvestment Criteria
Bruce Alan Eatroff
PartnerMember · since Jan 1, 2006
3 departed (kept with end dates)
- Robert Bernard Nolan · Special Managing Member · Jan 1, 2006 to Mar 31, 2021 Inference
- Lindsey Marcinek · Chief Compliance Officer · Sep 1, 2012 to Mar 20, 2015 Inference
- Sarah Lee Kim · Chief Compliance Officer · Feb 1, 2012 to Apr 1, 2013 Inference
Investments on record
6 edges, 6 companies, 0 partner-attributed
| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| EducationDynamics | portfolio listing | unknown | unknown | unknown | unknown | Sep 16, 2026 | Fact Venture organization websites (about, team, portfolio, thesis, news pages) |
| OneSource Virtual | portfolio listing | unknown | unknown | unknown | unknown | Sep 16, 2026 | Fact Venture organization websites (about, team, portfolio, thesis, news pages) |
| EarnMyDegree.com | portfolio listing | unknown | unknown | unknown | unknown | Sep 13, 2026 | Fact Venture organization websites (about, team, portfolio, thesis, news pages) |
| eLearners.com | portfolio listing | unknown | unknown | unknown | unknown | Sep 13, 2026 | Fact Venture organization websites (about, team, portfolio, thesis, news pages) |
| GradSchools.com | portfolio listing | unknown | unknown | unknown | unknown | Sep 13, 2026 | Fact Venture organization websites (about, team, portfolio, thesis, news pages) |
| StudyAbroad.com | portfolio listing | unknown | unknown | unknown | unknown | Sep 13, 2026 | Fact Venture organization websites (about, team, portfolio, thesis, news pages) |
“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
0 relationships from shared deals, counted for the whole firm
No co-investor relationship yet: these are derived only from rounds and portfolio listings the graph has seen both investors on.
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
16 dated events
- Sep 16, 2026StudyAbroad.com no longer listed on Halyard Capital Management, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceStudyAbroad.comVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026GradSchools.com no longer listed on Halyard Capital Management, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceGradSchools.comVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026eLearners.com no longer listed on Halyard Capital Management, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceeLearners.comVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026EarnMyDegree.com no longer listed on Halyard Capital Management, LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceEarnMyDegree.comVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 15, 2026Halyard Capital Management, LLC: MICRO_VC -> INSTITUTIONAL_VC (venture manager, reported GAV $127M across 3 vehicles)Classification changedClassificationInferenceno URL
- Sep 12, 2026Halyard Capital Management, LLC: CANDIDATE_VC -> MICRO_VC (venture manager, reported GAV $8.1M across 2 vehicles)Classification changedClassificationInferenceno URL
- Mar 28, 2024Eddy Holdings B, LP no longer reported on Form ADV by Halyard Capital Management, LLCFund no longer reportedFundsInferenceEddy Holdings B, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2021Robert Bernard Nolan (Special Managing Member) no longer on Schedule A of Halyard Capital Management, LLC
- Mar 24, 2016Halyard Capital Fund III, L.P. first reported on Form ADV by Halyard Capital Management, LLC (Private Equity Fund), GAV $9,995,302Fund first reported on Form ADVFundsFactHalyard Capital Fund III, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 24, 2016Eddy Holdings B, LP first reported on Form ADV by Halyard Capital Management, LLC (Private Equity Fund), GAV $2,692,000Fund first reported on Form ADVFundsFactEddy Holdings B, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 20, 2015Lindsey Marcinek (Chief Compliance Officer) no longer on Schedule A of Halyard Capital Management, LLC
- Apr 1, 2013Sarah Lee Kim (Chief Compliance Officer) no longer on Schedule A of Halyard Capital Management, LLC
- Sep 1, 2012Lindsey Marcinek joined Schedule A of Halyard Capital Management, LLC as Chief Compliance Officer
- Feb 13, 2012Halyard Capital Fund II, L.P. first reported on Form ADV by Halyard Capital Management, LLC (Private Equity Fund), GAV $250,741,614Fund first reported on Form ADVFundsFactHalyard Capital Fund II, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Feb 13, 2012Halyard Capital Management, LLC first filed Form ADV (IA)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Feb 13, 2012Halyard Capital Fund II (parallel), L.P. first reported on Form ADV by Halyard Capital Management, LLC (Private Equity Fund), GAV $250,741,614Fund first reported on Form ADVFundsFactHalyard Capital Fund II (parallel), L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 15, 2026Institutional venture firm (probable, 80%, cls-1)venture manager, reported GAV $127M across 3 vehicles
- Sep 12, 2026Micro VC (probable, 80%, cls-1)venture manager, reported GAV $8.1M across 2 vehicles
- Sep 12, 2026Candidate (candidate, 50%, cls-1)no sworn venture fact yet (name or round mention only)
Evidence
58 observations from 3 sources