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 / Capital Eleven Management
Capital Eleven Management
Micro VC · probableMeridian, IDcapitaleleven.comSEC exempt reporting adviseremerging managerfundraising evidence
venture manager, reported GAV $48.8M across 3 vehicles
Importance
18
moderate
Active deployment
60
high
Emerging
83
high
Completeness
56
elevated
Freshness
99
high
Research priority
40
elevated
Identity and regulatory footprint
- Headquarters
- Meridian, IDadviserinfo.sec.gov
- Office address
- 2512 W. NAVIGATOR DR., STE 300, Meridian, ID, 83642adviserinfo.sec.gov
- Business phone
- 208.761.6754adviserinfo.sec.gov
- Website
- https://capitaleleven.com/
- SEC adviser type
- exempt reporting adviseradviserinfo.sec.gov
- SEC exemption claimed
- private fund adviseradviserinfo.sec.gov
- Latest Form ADV
- Mar 27, 2026
- Private funds reported
- 3 (1 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $48.8Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- Capital Eleven LLC (Owner), E
- business email
- info@capitaleleven.comcapitaleleven.compublished by the subject
- business email
- businessplans@capitaleleven.comcapitaleleven.compublished by the subject
- business phone
- 208.761.6754adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
no observed deals yet
Stated (the firm’s website)
- Sectors
- not stated or not yet read
- Stages
- early
- Geography
- not stated
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- venture capital
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors: no observed deals yet
lead rate n/afollow-on rate n/anew logos, 12 months 0
Funds and vehicles
3 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| C11 Super Fund I LLC | Fund | 2025 form d first sale | Fundraising | $12.0M Sep 12, 2026 | 35 | $12.0M of $20.0M | Mar 26, 2026 |
| C11 Super Fund II LLC | Fund | 2025 form d first sale | Newly closed | $10.0M Sep 12, 2026 | 5 | $10.0M of $10.0M | Mar 26, 2026 |
| Capital Eleven Venture Fund II LP | Fund | 2024 form d first sale | Early deployment | $26.8M Sep 12, 2026 | 58 | $18.5M of $25.0M | Apr 17, 2024 |
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
21 current, 0 departed
Forrest Wartig
AnalystSenior M&A Analyst
Brian Jorgenson
Board or advisoryHead of Private Equity | Joint Ventures | M&A Advisory
Nate Arnold
Founder or executivePresident - Lending Division
David Gardner
Managing partnerManaging Partner · since Feb 1, 2025
David K Gardner
Managing partnerManaging Partner
Travis Hawkes
Managing partnerCEO + Managing Partner
Travis Hawkes
Managing partnerChief Executive Officer And Managing Partner · since Feb 1, 2025
Brandon Miner
Operating partnerOperating Partner, Retail Group
Klay Frongner
Operating partnerOperating Partner, Retail Group
Ashley Hess
OtherDeputy Chief of Staff
Stefanie Aragon
OtherChief ofStaff
Donald Bielen
PartnerManaging Director - Capital Eleven Advisors
Aaron Chandler
Platform and operationsGeneral Counsel
Aaron Chandler
Platform and operationsGeneral Counsel · since Feb 1, 2025
Kurtis Taylor
Platform and operationsChief Financial Officer
Cam Zavell
PrincipalPrincipal
Maggie Hyde
PrincipalDirector of Private Equity
Mason Whitt
PrincipalPrincipal
Jerek Anderson
Venture partnerVenture Partner
Jesse Ronnow
Venture partnerVenture Partner
Todd Cranney
Venture partnerVenture Partner
Investments on record
0 edges, 0 companies, 0 partner-attributed
No investment on record yet. Edges arrive from the firm’s portfolio page, financing announcements, and Form D board seats.
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
3 dated events
- Sep 12, 2026C11 Super Fund II LLC first reported on Form ADV by Capital Eleven Management, GAV $10,000,000Fund first reported on Form ADVFundsFactC11 Super Fund II LLCIAPD Form ADV Part 1 PDF per firm (current filing, Schedule D 7.B.(1) and Schedule A)
- Sep 12, 2026C11 Super Fund I LLC first reported on Form ADV by Capital Eleven Management, GAV $12,025,000Fund first reported on Form ADVFundsFactC11 Super Fund I LLCIAPD Form ADV Part 1 PDF per firm (current filing, Schedule D 7.B.(1) and Schedule A)
- May 2, 2025Capital Eleven Management appears on the SEC adviser roster (ERA)First SEC adviser filingOrganizationFactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Classification history
- Sep 13, 2026Micro VC (probable, 80%, cls-1)venture manager, reported GAV $48.8M across 3 vehicles
- Sep 12, 2026Micro VC (probable, 80%, cls-1)venture manager, reported GAV $0.0M across 1 vehicles
Evidence
25 observations from 3 sources