Enlightenment Capital

CandidateSEC-registered adviser· Chevy Chase, MarylandENLIGHTENMENT-CAP.COM

We partner with businesses that provide vital services, protect critical infrastructure, and safeguard national security.

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

Reported fund assets
$7.2M
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
None
Investment team
15
Latest vintage
2017
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

20 additional team members, 6 additional co-investors and affiliates, 14 additional investments, funds and LPs, 3 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.

What matters now

  1. 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 4 May 2026 ($1.78M 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
  • Managing Partner And Managing Member
    Why: Managing partner: runs the firm
    No route on file yet
  • Partner
    Why: Partner: part of the investment decision
    No route on file yet
  • Managing Director
    Why: Managing director
    No route on file yet

Relationship network

52 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 Enlightenment Capital: 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 Enlightenment Capital

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

Investing

16 companies on record, 0 new in 12 months

Investments on record

16 companies, 0 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
Agile Defenseportfolio listingunknownunknownunknownunknownSep 30, 2026Fact Firm website
Allocoreportfolio listingunknownunknownunknownunknownSep 30, 2026Fact Firm website
Auriaportfolio listingunknownunknownunknownunknownSep 30, 2026Fact Firm website

Stated thesis versus observed behaviour

17 observed deals
Stated (the firm’s website)
Sectors
ai, space, defense
Stages
not stated or not yet read
Geography
global, washington, dc
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
Industries, each company once
Hardware and deep tech, Software or Tech-enabled and IT services (2)
lead rate no observed dealsfollow-on rate no observed dealsnew companies, 12 months 0

Team

26 current, 1 departed

Decision makers

who to call first, and why; then everyone else by function
  • Devin Lloyd Talbott · Managing Partner And Managing Member
    Why this person: Managing partner: runs the firm; Named with investment responsibility
  • Jason Frederick Rigoli · Partner
    Why this person: Partner: part of the investment decision; Named with investment responsibility
  • Patrick Quay · Managing Director
    Why this person: Managing director; 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

26 current, 1 departed
1 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

4 vehicles, 0 LPs disclosed

Funds and vehicles

4 reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
Enlightenment Capital Solutions Fund II - Nq, L.P.Fund · ADV: Private Equity Fund2017 adv first reportedHarvest$73,240
Apr 24, 2026
17unknownunknown
Enlightenment Capital Solutions Fund Spv I, L.P.SPV or co-invest vehicle · ADV: Private Equity Fund2014 form d first saleHarvest$17.6M
Mar 29, 2024
2$25.0MFeb 12, 2014
Enlightenment Capital Solutions Fund I, LPFund · ADV: Private Equity Fund2012 form d first saleHarvest$2.5M
Mar 29, 2024
87$41.5M
of $100M
Nov 22, 2013

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

0 relationships across the firm's funds, from public pensions and the allocator graph
No allocator names this firm or its funds in a public disclosure DFX holds.

Relationships across DFX

9 co-investors · on 5 other DFX graphs

Co-investors

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

Enlightenment Capital is the same institution as 5 records in Allocators, Independent Sponsors, Private Equity, RIA and Wealth and Private Credit.

Allocators1Independent Sponsors1Private Equity1RIA and Wealth1Private Credit1

DFX found 5 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…

Evidence and history

8 dated events, 57 observations from 3 sources

Timeline

8 dated events
  1. seen on or beforeSep 24, 2026
    Enlightenment Capital: PE_WITH_VENTURE_ACTIVITY -> CANDIDATE_VC (no sworn venture fact yet (name or round mention only))
    Classification changedClassificationInference
  2. Mar 31, 2017
    Enlightenment Capital Solutions Fund II - Nq, L.P. first reported on Form ADV by Enlightenment Capital (Private Equity Fund), GAV $1,054,626
    Fund first reported on Form ADVFundsFactEnlightenment Capital Solutions Fund II - Nq, L.P.Form ADV
  3. Jan 11, 2017
    Pierre Alexandre Kuang Hon Chao (Managing Partner) no longer on Schedule A of Enlightenment Capital
    Person leftPeopleInferencePierre Alexandre Kuang Hon ChaoForm ADV
  4. Feb 1, 2016
    Jason Frederick Rigoli joined Schedule A of Enlightenment Capital as Partner
    Person joinedPeopleFactJason Frederick RigoliForm ADV
  5. May 8, 2015
    Enlightenment Capital first filed Form ADV (ERA)
    First SEC adviser filingOrganizationFactForm ADV

Identity and regulatory footprint

Address, phone, Form ADV filing and ownersForm ADV filed Apr 24, 2026 · 14 private fundsShow
Headquarters
Chevy Chase, MDadviserinfo.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
Apr 24, 2026
Private funds reported
14 (0 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$2.2Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Regulatory AUM
$1.6Bthe adviser's RAUM, a regulatory measure, never a fund size
Employees
15

Classification history

Every classification this record has carried3 on recordShow
  1. Sep 24, 2026
    Candidate (candidate, 50%)
    No sworn venture fact yet (name or round mention only)
  2. Sep 23, 2026
    Private equity with venture activity (probable, 75%)
    Registered adviser; venture funds are 0% of 14 private funds
  3. Sep 12, 2026
    Private equity with venture activity (probable, 75%)
    Registered adviser; venture funds are 0% of 15 private funds

Evidence

65 observations from 3 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
SEC adviser typeRegistered investment adviserApr 24, 2026FactForm ADV
SEC adviser typeRegistered investment adviserMar 29, 2024FactForm ADV
First Form ADV filing2015-05-08Apr 24, 2026FactForm ADV
First Form ADV filing2015-05-08Mar 29, 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 filing2026-04-24Apr 24, 2026FactForm ADV
Latest Form ADV filing2024-03-29Mar 29, 2024FactForm ADV
Venture share of reported funds0Apr 24, 2026FactForm ADV
Venture share of reported funds0Mar 29, 2024FactForm ADV
Business phoneMar 29, 2024FactForm ADV
Contact page urlSep 30, 2026Fact
Contact page urlSep 16, 2026Fact
DescriptionSep 30, 2026Fact
DescriptionSep 16, 2026Fact
DescriptionSep 13, 2026Fact
Employees15Mar 29, 2024FactForm ADV
HeadquartersChevy Chase, MDMar 29, 2024FactForm ADV
Office addressMar 29, 2024FactForm ADV
Portfolio pageSep 30, 2026Fact
Portfolio pageSep 16, 2026Fact
Portfolio pageSep 13, 2026Fact
Private funds reported14Apr 24, 2026FactForm ADV
Private funds reported15Mar 29, 2024FactForm ADV
Private fund gross assets (reported)$2.2BApr 24, 2026FactForm ADV
Private fund gross assets (reported)$1.8BMar 29, 2024FactForm ADV
Regulatory AUM (adviser, not fund size)$1.6BMar 29, 2024FactForm ADV
Stated geographyglobal,washington, dc
“geography words on the home page”
Sep 30, 2026Fact
Stated geographyglobal,washington, dc
“geography words on the home page”
Sep 16, 2026Fact
Stated geographyglobal,washington, dc
“geography words on the home page”
Sep 13, 2026Fact
Stated sectorsAI, space, defense
“sector words on the home page”
Sep 30, 2026Fact
Stated sectorsAI, space, defense
“sector words on the home page”
Sep 16, 2026Fact
Stated sectorsAI, space, defense
“sector words on the home page”
Sep 13, 2026Fact
Team pageSep 30, 2026Fact
Team pageSep 16, 2026Fact
Team pageSep 13, 2026Fact
Venture funds reported0Apr 24, 2026FactForm ADV
Venture funds reported0Mar 29, 2024FactForm ADV
WebsiteSep 12, 2026FactForm ADV
WebsiteMar 29, 2024FactForm ADV
Site titleSep 30, 2026Fact
Site titleSep 16, 2026Fact
Site titleSep 13, 2026Fact
How this is scored
Scores, classification basis and filing advisersCandidate, candidateShow
Importance
24
moderate
Active deployment
0
low
Emerging
0
low
Freshness
100
high
CandidateSEC registered investment adviser

No sworn venture fact yet (name or round mention only)

The inputs behind each score
importance
gav: 0 · funds: 0 · people: 0.6 · investments: 0.46 · scale basis: Venture-typed funds only (Candidate): 0 funds, $0M of $7M reported · co investors: 0.39
active deployment
investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 0 · latest investment at: not scored
emerging manager
fund count: 4 · reported gav: $7.2M · first adv filing: 2015-05-08 · years since first filing: 11.4

Fits, record history and connections

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

Record history

2 dated events on the change ledger, latest event first
  • Organization classification changed
    2026-09-24
  • Adviser's first ADV filing
    2015-05-08source 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.