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 / Venture Investors LLC
Venture Investors LLC
venture manager, reported GAV $216M across 10 vehicles
Importance
43
elevated
Active deployment
55
elevated
Emerging
0
low
Completeness
63
high
Freshness
100
high
Research priority
22
moderate
Identity and regulatory footprint
- Headquarters
- Madison, WIadviserinfo.sec.gov
- Office address
- 510 CHARMANY DRIVE, SUITE 250, Madison, WI, 53719-1227adviserinfo.sec.gov
- Business phone
- 608-441-2700adviserinfo.sec.gov
- 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
- 8 (8 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $212Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- Arnstein, David, Evan (Managing Director), A
- business phone
- 608-441-2700adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
9 observed deals
Stated (the firm’s website)
- Sectors
- enterprise software, healthcare, biotech, medtech
- Stages
- not stated or not yet read
- Geography
- michigan, midwest, wisconsin
- 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 9
Funds and vehicles
9 reported, 4 no longer reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Fund 1 a Series of 007 Venture Partners Master LLC | SPV or co-invest vehicle | 2025 form d first sale | Fundraising | unknown | unknown | $100,000 of $1.0M | Apr 24, 2025 |
| Venture Investors Health Fund 7 Limited Partnership | Fund | 2023 form d first sale | Active deployment | $3.1M Mar 28, 2024 | 20 | $56.9M of $100M | Oct 17, 2024 |
| 9.58 Venture Partners, LP | Fund | 2023 form d first sale | Active deployment | unknown | unknown | $7.8M | Feb 4, 2025 |
| Venture Investors Health Fund 6 Limited Partnership | Fund | 2018 form d first sale | Harvest | $75.2M Mar 28, 2024 | 40 | $73.1M of $100M | Aug 2, 2019 |
| Venture Investors Early Stage Fund IV Limited Partnership | Fund | unknown | Unknown | $86.5M Mar 28, 2024 | 51 | unknown | unknown |
| Venture Investors Early Stage Fund V Limited Partnership | Fund | unknown | Unknown | $48.1M Mar 28, 2024 | 44 | $0 of $3.0M | Feb 8, 2012 |
| Viesf IV Advisors Group LLC | Fund | unknown | Unknown | $2.5M Mar 28, 2024 | 30 | unknown | unknown |
| Viesf V Advisors Group LLC | Fund | unknown | Unknown | $1.0M Mar 28, 2024 | 17 | unknown | unknown |
| Venture Investors Fund 6 Driver Fund, L.P. | Fund | unknown | Unknown | unknown | unknown | $0 of $10.0M | Jul 12, 2024 |
| Venture Investors of Wisconsin, Inc. | Fund | unknown | Wound down | $245,355 Mar 21, 2013 | 40 | unknown | unknown |
| Venture Investors Early Stage Fund II Limited Partnership | Fund | unknown | Wound down | $121,713 Apr 3, 2012 | 51 | unknown | unknown |
| Venture Investors Early Stage Fund III Limited Partnership | Fund | unknown | Wound down | $0 Mar 30, 2020 | 20 | unknown | unknown |
| Advantage Capital Wisconsin Partners I Limited Partnership | Fund | unknown | Wound down | $0 Mar 22, 2019 | 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
16 current, 4 departed
Jim Adox
Managing partnerManaging Partner
Cheryl R. Blanchard
OtherExecutive in Residence
James R Adox
PartnerManaging Director · since Jan 1, 2007
John Neis
PartnerPartner
John Peter Neis
PartnerManaging Director · since Jan 1, 1997
Paul Martin Karl Weiss
PartnerManaging Director · since Jun 1, 2006
Paul Weiss
PartnerPartner
Scott Button
PartnerPartner
Scott Frederick Button
PartnerManaging Director · since Jun 1, 2000
Becky Hoerman
Platform and operationsController
David Arnstein
Platform and operationsPartner & CFO
Joe Amaral
Platform and operationsChief Medical and Scientific Officer
Linda Olson
Platform and operationsOffice Manager
Jenni Le
PrincipalPrincipal
Margaret Kaczor Andrew
Venture partnerVenture Partner
Shelly Lanning
Venture partnerVenture Partner
4 departed (kept with end dates)
- David E Arnstein · Member · Aug 1, 2017 to Mar 30, 2020 Inference
- George Gamil Arida · Managing Director · Jun 1, 2006 to Mar 27, 2017 Inference
- Roger Henry Ganser · Member · Sep 1, 1999 to Mar 18, 2022 Inference
- Loren Peterson · Chief Financial Officer · Jul 1, 2011 to Mar 27, 2017 Inference
Investments on record
9 edges, 9 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
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
20 dated events
- Mar 28, 2024Venture Investors Health Fund 7 Limited Partnership first reported on Form ADV by Venture Investors LLC (Venture Capital Fund), GAV $3,096,432Fund first reported on Form ADVFundsFactVenture Investors Health Fund 7 Limited PartnershipSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 18, 2022Roger Henry Ganser (Member) no longer on Schedule A of Venture Investors LLC
- Mar 26, 2021Venture Investors Early Stage Fund III Limited Partnership no longer reported on Form ADV by Venture Investors LLC
- Mar 30, 2020David E Arnstein (Member) no longer on Schedule A of Venture Investors LLC
- Mar 30, 2020Advantage Capital Wisconsin Partners I Limited Partnership no longer reported on Form ADV by Venture Investors LLC
- Mar 22, 2019Venture Investors Health Fund 6 Limited Partnership first reported on Form ADV by Venture Investors LLC (Venture Capital Fund), GAV $8,090,581Fund first reported on Form ADVFundsFactVenture Investors Health Fund 6 Limited PartnershipSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Aug 1, 2017David E Arnstein joined Schedule A of Venture Investors LLC as Current
- Mar 27, 2017Loren Peterson (Chief Financial Officer) no longer on Schedule A of Venture Investors LLC
- Mar 27, 2017George Gamil Arida (Managing Director) no longer on Schedule A of Venture Investors LLC
- May 1, 2014Venture Investors of Wisconsin, Inc. no longer reported on Form ADV by Venture Investors LLCFund no longer reportedFundsInferenceVenture Investors of Wisconsin, Inc.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 21, 2013Venture Investors Early Stage Fund II Limited Partnership no longer reported on Form ADV by Venture Investors LLC
- Apr 3, 2012Venture Investors of Wisconsin, Inc. first reported on Form ADV by Venture Investors LLC (Venture Capital Fund), GAV $636,758Fund first reported on Form ADVFundsFactVenture Investors of Wisconsin, Inc.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 3, 2012Venture Investors Early Stage Fund III Limited Partnership first reported on Form ADV by Venture Investors LLC (Venture Capital Fund), GAV $20,078,589Fund first reported on Form ADVFundsFactVenture Investors Early Stage Fund III Limited PartnershipSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 3, 2012Venture Investors Early Stage Fund II Limited Partnership first reported on Form ADV by Venture Investors LLC (Venture Capital Fund), GAV $121,713Fund first reported on Form ADVFundsFactVenture Investors Early Stage Fund II Limited PartnershipSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 3, 2012Advantage Capital Wisconsin Partners I Limited Partnership first reported on Form ADV by Venture Investors LLC (Venture Capital Fund), GAV $6,386,458Fund first reported on Form ADVFundsFactAdvantage Capital Wisconsin Partners I Limited PartnershipSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 3, 2012Venture Investors V Advisors Group LLC first reported on Form ADV by Venture Investors LLC (Venture Capital Fund), GAV $1,875,000Fund first reported on Form ADVFundsFactViesf V Advisors Group LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 3, 2012Venture Investors Early Stage Fund V Limited Partnership first reported on Form ADV by Venture Investors LLC (Venture Capital Fund), GAV $61,343,284Fund first reported on Form ADVFundsFactVenture Investors Early Stage Fund V Limited PartnershipSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 3, 2012Venture Investors Early Stage Fund IV Limited Partnership first reported on Form ADV by Venture Investors LLC (Venture Capital Fund), GAV $91,868,375Fund first reported on Form ADVFundsFactVenture Investors Early Stage Fund IV Limited PartnershipSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 3, 2012Venture Investors 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)
- Apr 3, 2012Viesf IV Advisors Group LLC first reported on Form ADV by Venture Investors LLC (Venture Capital Fund), GAV $2,979,564Fund first reported on Form ADVFundsFactViesf IV Advisors Group LLCSEC 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 (confirmed, 95%, cls-1)venture manager, reported GAV $216M across 10 vehicles
- Sep 13, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $140M across 8 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $140M across 6 vehicles
Evidence
55 observations from 3 sources