True North Advisors, LLC
A privately owned wealth advisory and multi-family office serving families, business owners and entrepreneurs since 2000, with offices in Dallas, Fort Worth, Kerrville/Austin and Danville, CA.
In the firm's own words, from its website.
8 additional team members, 2 additional co-investors and affiliates, 1 additional investment, fund or LP, 18 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 departurepeople, 12 months
A team member departed 77 days ago.
A partner leaving or arriving changes who decides, and who a founder or LP should call.
InferenceIAPD Form ADV Part 1 PDF per firm (current filing, Schedule D 7.B.(1) and Schedule A)For Founders, LPs, recruitersTeam →
People to know
View all people- Managing Member, PresidentWhy: Runs the firm (chief executive or president)No route on file yet
- Managing Member, Chief Executive OfficerWhy: Runs the firm (chief executive or president)No route on file yet
- Elected ManagerWhy: Named with investment responsibilityNo route on file yet
Relationship network
10 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.
- 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 True North Advisors, 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 True North Advisors, LLC
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
0 companies on record, 0 new in 12 months
Investments on record
What these amounts mean“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.Acquired, Public, Exited and Active are what the firm’s own portfolio card says, read on the date shown when you hover the chip; they are not deal dates. A company with no chip is one whose card states no outcome: DFX does not assume it is active.Stated thesis versus observed behaviour
- Sectors
- media
- Stages
- not stated or not yet read
- Geography
- austin, global, new york, texas
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- family office
Team
6 current, 8 departed
Decision makers
- Mark Hunter Gehlbach · Managing Member, PresidentWhy this person: Runs the firm (chief executive or president); Named with investment responsibility
- Scott Adair Wood · Managing Member, Chief Executive OfficerWhy this person: Runs the firm (chief executive or president); Named with investment responsibility
- Christopher Elliott Pate · Elected ManagerWhy this person: Named with investment responsibility; Moved here from WESTERN RESEARCH AND MANAGEMENT, L.L.C. in Feb 2019
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
How the team is orderedPartners who lead rounds first (rounds led, then deals attributed, then seniority), then the rest of the investment team, then investor relations, finance and operations. A person named by two sources under two spellings is shown once.- Managing Member, Chief Executive Officer
- Managing Member, President
- Elected Manager
8 departed (kept with end dates)
- Paula Pond Holt · Md Of Dallas · Jan 1, 2013 to Jul 16, 2026 Fact
- Donald Morris Woodard · Member · Jan 1, 2019 to Mar 28, 2024 Inference
- Douglas Stephen Frazier · Member · Jan 1, 2019 to Mar 30, 2020 Inference
Contacts
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
What these amounts meanGAV 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.| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Western Alternative Strategies, L.P. - Private Opportunities III | Opportunity fund | 2022 form d first sale | Active deployment | $19.2M Jul 16, 2026 | 54 | $14.6M | May 21, 2024 |
| Western Alternative Strategies, L.P. - Private Opportunties II Series | Fund | 2021 adv first reported | Mature | $27.9M Jul 16, 2026 | 72 | unknown | unknown |
| Western Alternative Strategies, L.P. - Private Opportunties | Opportunity fund | 2018 form d first sale | Harvest | $27.2M Jul 16, 2026 | 30 | $7.3M | Dec 16, 2019 |
Limited partners
Known LPs and allocators
What these amounts and dates areEach commitment is counted once across the pension tape and the allocator graph. A commitment date prints only when the source printed one; otherwise the row carries the report date. A foundation’s 990-PF line is a holding at fair value, never a commitment. Rows without a fund on the venture graph are commitments to this manager.Relationships across DFX
0 co-investors · on 3 other DFX graphs
Co-investors
Across DFX and the capital chainon 3 other DFX graphs ShowHide
- The same institution is held on Real Estate Funds, RIA and Wealth, Private Credit, matched by identifier. See which records
True North Advisors, LLC is the same institution as 3 records in Real Estate Funds, RIA and Wealth and Private Credit.
DFX found 3 relationships across 3 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
23 dated events, 102 observations from 4 sources
Timeline
- Jul 16, 2026Paula Pond Holt (Md Of Dallas) no longer on Schedule A of True North Advisors, LLC
- Jul 16, 2026Western Alternative Strategies, L.P. -Private Opportunites IV first reported on Form ADV by True North Advisors, LLC (Venture Capital Fund), GAV $8,739,965Fund first reported on Form ADVFundsInferenceWestern Alternative Strategies, L.P. -Private Opportunites IVForm ADV
- Mar 28, 2024Donald Morris Woodard (Member) no longer on Schedule A of True North Advisors, LLC
- Jan 1, 2024John William Copeland joined Schedule A of True North Advisors, LLC as Elected Manager
- Mar 29, 2023Western Alternative Strategies, L.P. - Private Opportunities III first reported on Form ADV by True North Advisors, LLC (Venture Capital Fund), GAV $8,594,770Fund first reported on Form ADVFundsFactWestern Alternative Strategies, L.P. - Private Opportunities IIIForm ADV
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Jul 16, 2026 · 34 private fundsShowHide
- Headquarters
- Dallas, TXadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- TRUENORTHADVISORS.COM
- SEC adviser type
- Registered investment adviseradviserinfo.sec.gov
- SEC exemption claimed
- unknown
- Latest Form ADV
- Jul 16, 2026
- Private funds reported
- 34 (4 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets, adviser total
- $1.1Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Regulatory AUM
- $5.4Bthe adviser's RAUM, a regulatory measure, never a fund size
- Employees
- 89
- Owners on Schedule A
- True North Advisors Holdings, LLC (Member), owns 75% or more; Aspire Holdings, LLC (Member), owns 75% or more; Wood Family Trust (Member), owns 25% to 50%
Classification history
Classification history
Every classification this record has carried3 on recordShowHide
- Sep 23, 2026Private equity with venture activity (probable, 75%)Registered adviser; venture funds are 12% of 34 private funds
- Sep 12, 2026Private equity with venture activity (probable, 75%)Registered adviser; venture funds are 11% of 34 private funds
- Sep 12, 2026Private equity with venture activity (probable, 75%)Registered adviser; venture funds are 11% of 27 private funds
Evidence
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| Why admitted | VC funds reported | Jul 16, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | Jul 16, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | Jul 16, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | Sep 26, 2024 | Fact | Form ADV |
| First Form ADV filing | 2012-03-29 | Jul 16, 2026 | Fact | Form ADV |
| First Form ADV filing | 2012-03-29 | Sep 26, 2024 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-30 | Oct 1, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-29 | Sep 30, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-25 | Sep 26, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-23 | Sep 24, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-21 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-22 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1 | Sep 12, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-07-16 | Jul 16, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-07-16 | Jul 16, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2024-09-26 | Sep 26, 2024 | Fact | Form ADV |
| SEC status | Approved | Jul 16, 2026 | Fact | Form ADV |
| SEC status effective | 2006-02-21 | Jul 16, 2026 | Fact | Form ADV |
| Venture share of reported funds | 0 | Jul 16, 2026 | Fact | Form ADV |
| Venture share of reported funds | 0 | Sep 26, 2024 | Fact | Form ADV |
| Business phone | Jul 16, 2026 | Fact | Form ADV | |
| Business phone | Sep 26, 2024 | Fact | Form ADV | |
| Contact page url | Oct 1, 2026 | Fact | ||
| Contact page url | Sep 16, 2026 | Fact | ||
| Description | Oct 1, 2026 | Fact | ||
| Description | Sep 16, 2026 | Fact | ||
| Description | Sep 13, 2026 | Fact | ||
| Employees | 89 | Jul 16, 2026 | Fact | Form ADV |
| Employees | 52 | Sep 26, 2024 | Fact | Form ADV |
| Headquarters | Dallas, TX | Jul 16, 2026 | Fact | Form ADV |
| Headquarters | Dallas, TX | Sep 26, 2024 | Fact | Form ADV |
| Office address | Jul 16, 2026 | Fact | Form ADV | |
| Office address | Sep 26, 2024 | Fact | Form ADV | |
| Self-described type | Family office | Oct 1, 2026 | Fact | |
| Self-described type | Family office | Sep 16, 2026 | Fact | |
| Self-described type | Family office | Sep 13, 2026 | Fact | |
| Legal form | Limited Liability Company | Jul 16, 2026 | Fact | Form ADV |
| Other funds reported | 17 | Jul 16, 2026 | Fact | Form ADV |
| Private funds reported | 34 | Jul 16, 2026 | Fact | Form ADV |
| Private funds reported | 34 | Jul 16, 2026 | Fact | Form ADV |
| Private funds reported | 27 | Sep 26, 2024 | Fact | Form ADV |
| Private fund gross assets (reported) | $1.1B | Jul 16, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $1.1B | Jul 16, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $812M | Sep 26, 2024 | Fact | Form ADV |
| Regulatory AUM (adviser, not fund size) | $5.4B | Jul 16, 2026 | Fact | Form ADV |
| Regulatory AUM (adviser, not fund size) | $3.3B | Sep 26, 2024 | Fact | Form ADV |
| Schedule a diff | sadiff-1 | Jul 16, 2026 | Fact | Form ADV |
| Stated geography | Austin, global, new york, texas “geography words on the home page” | Oct 1, 2026 | Fact | |
| Stated geography | Austin, global, new york, texas “geography words on the home page” | Sep 16, 2026 | Fact | |
| Stated geography | Austin, global, new york, texas “geography words on the home page” | Sep 13, 2026 | Fact | |
| Stated sectors | media “sector words on the home page” | Oct 1, 2026 | Fact | |
| Stated sectors | media “sector words on the home page” | Sep 16, 2026 | Fact | |
| Stated sectors | media “sector words on the home page” | Sep 13, 2026 | Fact | |
| Team page | Oct 1, 2026 | Fact | ||
| Team page | Sep 16, 2026 | Fact | ||
| Team page | Sep 13, 2026 | Fact | ||
| Venture funds reported | 4 | Jul 16, 2026 | Fact | Form ADV |
| Venture funds reported | 4 | Jul 16, 2026 | Fact | Form ADV |
| Venture funds reported | 3 | Sep 26, 2024 | Fact | Form ADV |
| Website | Sep 12, 2026 | Fact | Form ADV | |
| Website | Jul 16, 2026 | Fact | Form ADV | |
| Website | Sep 26, 2024 | Fact | Form ADV | |
| Site title | Oct 1, 2026 | Fact | ||
| Site title | Sep 16, 2026 | Fact | ||
| Site title | Sep 13, 2026 | Fact |
How this is scored
Scores, classification basis and filing advisersPrivate equity with venture activity, probableShowHide
Registered adviser; venture funds are 12% of 34 private funds
- importance
- gav: 0.28 · funds: 0.33 · people: 0.28 · investments: 0 · scale basis: Venture-typed funds only (Private equity with venture activity): 4 funds, $83M of $83M reported · co investors: 0
- 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: $83.0M · first adv filing: 2012-03-29 · years since first filing: 14.5
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Record history
- Adviser's first ADV filing2012-03-29source 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.
Not yet on record: new companies, 12 mo.