Camden Partners Holdings, LLC

Private equity with venture activitySEC-registered adviserClassification probable· Owings Mills, MarylandCAMDENPARTNERS.COM

Since our founding in 1995, Camden Partners has focused on investing growth equity in lower middle market companies. We actively partner with strong management teams leveraging our domain expertise, operating experience and extended network of resources to help growth companies reach their full potential.

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

Reported fund assets
$1.9M
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
None
Investment team
6
Latest vintage
2020
Contact decision makers
More
Ask DFX about thisView relationshipsFind contactsInvestments (94)Team (9)Funds
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

12 additional team members, 12 additional co-investors and affiliates, 91 additional investments, funds and LPs, 16 events, 19 verified contacts (13 professional url, 4 published business email, 1 general firm email, 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.

Nothing material in the last 180 days.

People to know

View all people

Relationship network

120 connected entities7 observed rounds1 repeat counterparty

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

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 Camden Partners Holdings, LLC: 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 Camden Partners Holdings, LLC

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

Investing

94 companies on record, 0 new in 12 months
Investments on record
94 companies, 7 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
AgilQuest Corporationportfolio listingunknownunknownunknownunknownOct 1, 2026Fact Firm website
American Public Education, Inc.portfolio listingunknownunknownunknownunknownOct 1, 2026Fact Firm website
Anicom, Inc.portfolio listingunknownunknownunknownunknownOct 1, 2026Fact Firm website
Stated thesis versus observed behaviour
97 observed deals
Stated (the firm’s website)
Sectors
fintech
Stages
growth
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
Industries, each company once
Hardware and deep tech, Software or Tech-enabled and IT services (1)Healthcare services (1)
lead rate no observed dealsfollow-on rate 25%new companies, 12 months 0

Team

9 current, 8 departed
Decision makers
who to call first, and why; then everyone else by function
  • J. Todd Sherman · Managing Partner
    Why this person: Managing partner: runs the firm; Named with investment responsibility
    LinkedIn or profile link and work email on file (firm website), confirmed 2026-10-01, confidence 95%
  • David L. Warnock · Founder and Partner
    Why this person: Founder of the firm; Named with investment responsibility
    LinkedIn or profile link on file (firm website), confirmed 2026-10-01, confidence 90%
Who else at this firm · 1 person, grouped by function
Board, advisers and operating partners (1)
  • Demian Costa · Operating Partner and Advisor
    Why this person: Operating partner: works with the portfolio
    LinkedIn or profile link and work email on file (firm website), confirmed 2026-10-01, confidence 95%

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. 3 with a route on file. 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
9 current, 8 departed
10 departed (kept with end dates)
  • David Lyle Warnock · Member, Manager, President & Chief Executive Officer · Feb 1, 2002 to Dec 17, 2021 Inference
  • Atwood Collins · Manager · Oct 1, 2012 to Apr 28, 2016 Inference
  • Georgios C Petrocheilos · Member And Manager (Camden Partners Nexus Ii, Llc) · Jun 1, 2019 to Aug 13, 2020 Inference
Contacts
1 general firm email, 4 published business email, 1 firm phone, 13 professional url

1 general firm email, 4 published business email, 1 firm phone, 13 professional url on record, each with its source. Values open with the complete profile.

Funds and LPs

2 vehicles, 0 LPs disclosed
Funds and vehicles
2 reported, 2 no longer reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
Camden Private Capital Venture, LLCFund2018 adv first reportedHarvest$1.9M
Mar 25, 2026
83unknownunknown
CP Nexus Sidecar I, LLCSPV or co-invest vehicle2018 form d first saleHarvest$584,829
Mar 31, 2020
15$1.6M
of $3.0M
Nov 13, 2018
Camden Partners Nexus Fund II, LPFund2020 adv first reportedWound down$33.4M
Mar 31, 2020
90unknownunknown
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

15 co-investors · on 5 other DFX graphs
Co-investors
15 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 Private Equity, RIA and Wealth, Independent Sponsors, Private Credit, Allocators, matched by identifier. See which records
Across the graphs

Camden Partners Holdings, LLC is the same institution as 5 records in Private Equity, RIA and Wealth, Independent Sponsors, Private Credit and Allocators.

Private Equity1RIA and Wealth1Independent Sponsors1Private Credit1Allocators1

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

21 dated events, 89 observations from 3 sources
Timeline
21 dated events
  1. Nov 26, 2024
    Thomas John Rutherford (Chief Compliance Officer & Chief Financial Officer) no longer on Schedule A of Camden Partners Holdings, LLC
    Person leftPeopleInferenceThomas John RutherfordForm ADV
  2. Dec 17, 2021
    David Lyle Warnock (Member, Manager, President & Chief Executive Officer) no longer on Schedule A of Camden Partners Holdings, LLC
    Person leftPeopleInferenceDavid Lyle WarnockForm ADV
  3. Nov 1, 2021
    Jason R Tagler joined Schedule A of Camden Partners Holdings, LLC as Manager Of General Partner
    Person joinedPeopleFactJason R TaglerForm ADV
  4. Nov 1, 2021
    Joseph Todd Sherman joined Schedule A of Camden Partners Holdings, LLC as Manager Of General Partner
    Person joinedPeopleFactJoseph Todd ShermanForm ADV
  5. Mar 30, 2021
    Joseph Todd Sherman (Treasurer & Chief Financial Officer) no longer on Schedule A of Camden Partners Holdings, LLC
    Person leftPeopleInferenceJoseph Todd ShermanForm ADV
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 25, 2026 · 17 private fundsShow
Headquarters
Owings Mills, MDadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
Website
CAMDENPARTNERS.COM
SEC adviser type
Registered investment adviseradviserinfo.sec.gov
SEC exemption claimed
unknown
Latest Form ADV
Mar 25, 2026
Private funds reported
17 (1 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$370Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Regulatory AUM
$370Mthe adviser's RAUM, a regulatory measure, never a fund size
Employees
4
Owners on Schedule A
Camden Partners Manager Holdings LP (Owner), owns 75% or more
Classification history
Every classification this record has carried2 on recordShow
  1. Sep 12, 2026
    Private equity with venture activity (probable, 75%)
    Registered adviser; venture funds are 11% of 17 private funds
  2. Sep 12, 2026
    Private equity with venture activity (probable, 75%)
    Registered adviser; venture funds are 11% of 18 private funds
Evidence
89 observations from 3 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
Why admittedVC funds reportedMar 25, 2026FactForm ADV
SEC adviser typeRegistered investment adviserMar 25, 2026FactForm ADV
SEC adviser typeRegistered investment adviserMar 25, 2026FactForm ADV
SEC adviser typeRegistered investment adviserNov 26, 2024FactForm ADV
First Form ADV filing2011-12-21Mar 25, 2026FactForm ADV
First Form ADV filing2011-12-21Nov 26, 2024FactForm 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 filing2026-03-25Mar 25, 2026FactForm ADV
Latest Form ADV filing2026-03-25Mar 25, 2026FactForm ADV
Latest Form ADV filing2024-11-26Nov 26, 2024FactForm ADV
SEC statusApprovedMar 25, 2026FactForm ADV
SEC status effective2001-11-01Mar 25, 2026FactForm ADV
Venture share of reported funds0Mar 25, 2026FactForm ADV
Venture share of reported funds0Nov 26, 2024FactForm ADV
Business phoneMar 25, 2026FactForm ADV
Business phoneNov 26, 2024FactForm ADV
Contact page urlOct 1, 2026Factno URL
Contact page urlSep 16, 2026Factno URL
DescriptionOct 1, 2026Factno URL
DescriptionSep 16, 2026Factno URL
DescriptionSep 13, 2026Factno URL
Employees4Mar 25, 2026FactForm ADV
Employees5Nov 26, 2024FactForm ADV
HeadquartersOwings Mills, MDMar 25, 2026FactForm ADV
HeadquartersOwings Mills, MDNov 26, 2024FactForm ADV
Office addressMar 25, 2026FactForm ADV
Office addressNov 26, 2024FactForm ADV
Legal formLimited Liability CompanyMar 25, 2026FactForm ADV
PE funds reported16Mar 25, 2026FactForm ADV
Portfolio pageOct 1, 2026Factno URL
Portfolio pageSep 16, 2026Factno URL
Portfolio pageSep 13, 2026Factno URL
Private funds reported17Mar 25, 2026FactForm ADV
Private funds reported17Mar 25, 2026FactForm ADV
Private funds reported18Nov 26, 2024FactForm ADV
Private fund gross assets (reported)$370MMar 25, 2026FactForm ADV
Private fund gross assets (reported)$370MMar 25, 2026FactForm ADV
Private fund gross assets (reported)$403MNov 26, 2024FactForm ADV
Regulatory AUM (adviser, not fund size)$370MMar 25, 2026FactForm ADV
Regulatory AUM (adviser, not fund size)$413MNov 26, 2024FactForm ADV
Stated sectorsfintech
“sector words on the home page”
Oct 1, 2026Factno URL
Stated sectorsfintech
“sector words on the home page”
Sep 16, 2026Factno URL
Stated sectorsfintech
“sector words on the home page”
Sep 13, 2026Factno URL
Stated stagesgrowth
“stage words on the home page”
Oct 1, 2026Factno URL
Stated stagesgrowth
“stage words on the home page”
Sep 16, 2026Factno URL
Stated stagesgrowth
“stage words on the home page”
Sep 13, 2026Factno URL
Team pageOct 1, 2026Factno URL
Team pageSep 16, 2026Factno URL
Team pageSep 13, 2026Factno URL
Venture funds reported1Mar 25, 2026FactForm ADV
Venture funds reported1Mar 25, 2026FactForm ADV
Venture funds reported1Nov 26, 2024FactForm ADV
WebsiteMar 25, 2026FactForm ADV
WebsiteNov 26, 2024FactForm ADV
Site titleOct 1, 2026Factno URL
Site titleSep 16, 2026Factno URL
Site titleSep 13, 2026Factno URL
How this is scored
Scores, classification basis and filing advisersPrivate equity with venture activity, probable · 2 filing advisers share this firmShow
Importance
27
moderate
Active deployment
0
low
Emerging
0
low
Freshness
100
high
Private equity with venture activity · probableSEC registered investment adviser

Registered adviser; venture funds are 11% of 17 private funds

This firm files as 2 advisers on camdenpartners.com: Camden Private Capital. Each keeps its own CRD, funds and filings; the grouping is the website each swore to on Form ADV and is recomputed every pass.

The inputs behind each score
importance
gav: 0 · funds: 0.17 · people: 0.2 · investments: 0.74 · scale basis: Venture-typed funds only (Private equity with venture activity): 2 funds, $2M of $2M reported · co investors: 0.48
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: $1.9M · first adv filing: 2011-12-21 · years since first filing: 14.8

Fits, record history and connections

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