Carte Verte Management LLC

Institutional venture firmSEC venture capital fund adviserRaising· San Francisco, Californiakindredventures.com

Institutional venture firm, based in San Francisco, California, reporting $1.2B of fund assets on its funds' Form ADV filings.

Composed from this organization's classification, location and filed figures.

Reported fund assets
$1.2B
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
7
Investment team
3
Latest vintage
2026
Contact decision makers
More
Ask DFX about thisView relationshipsFind contactsInvestments (21)Team (3)Funds
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

37 additional co-investors and affiliates, 36 additional investments, funds and LPs, 18 events, 2 verified contacts (2 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 vehicle
    on Form D, 18 months

    $37.9M reported sold so far.

    A Form D is filed when a vehicle takes its first money, so these are open to LPs now.

    FactSEC Form D filingsFor LPs, fund-of-funds, placement agentsVehicles →
  2. 7 companies
    new in 12 months

    7 new companies in the last 12 months.

    A firm writing cheques this quarter is one a founder can pitch now.

    Factfunding announcements, Form D, the firm's portfolio pageFor Founders, co-investorsInvestments →
  3. 2 deals
    with Contrary

    Invests most often alongside Contrary (2 shared deals) and Y Combinator (2 shared deals).

    pair last observed on record 6 May 2026, not a deal date · The firms it syndicates with are the likeliest to see the same deals and to fill out its rounds.

    Measuredshared rounds and portfolio companies on recordFor Founders building a round, co-investorsCo-investors →
  4. 1 of 4
    enter at seed or A

    Enters mostly at seed to Series A: 3 of 4 first entries on record, in line with the seed, series a stage its site states.

    rounds to 10 Jun 2026 · Tells a founder whether their round is one this firm writes.

    Derived4 rounds with a stated stage, against the firm's siteFor FoundersInvestments →

People to know

View all people

Relationship network

96 connected entities7 observed rounds2 repeat counterparties3 dated rounds shown here, 2025 to 2026

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.

What stands out
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 Carte Verte Management 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 Carte Verte Management LLC

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

Investing

21 companies on record, 7 new in 12 months
Investments on record
21 companies, 1 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
Aalo Atomicsportfolio listingunknownunknownunknownunknownOct 1, 2026Fact Firm website
Adytonportfolio listingunknownunknownunknownunknownOct 1, 2026Fact Firm website
Alliance DAOportfolio listingunknownunknownunknownunknownOct 1, 2026Fact Firm website
Stated thesis versus observed behaviour
22 observed deals
Stated (the firm’s website)
Sectors
ai, fintech, healthcare, consumer, marketplaces, climate, hardware, space, crypto, logistics, industrial
Stages
seed, series a
Geography
asia, emerging markets, france, global, united states, usa
Check size
not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation
series a 50%seed 25%series b 25%
Stage at first entry
series a 50%seed 25%series b 25%
Sectors
unknown 100%
lead rate 57%follow-on rate 0%new companies, 12 months 7

Team

3 current, 0 departed
Decision makers
who to call first, and why; then everyone else by function
  • Kanyi Maqubela · General Partner
    Why this person: General partner: carries the investment decision; Named with investment responsibility
  • Sikanyiselwe Maqubela · Member
    Why this person: Named with investment responsibility
  • Steve Seong Joon Jang · Member
    Why this person: 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
3 current, 0 departed
Contacts
2 firm phone

2 firm phone on record, each with its source. Values open with the complete profile.

Funds and LPs

21 vehicles, 0 LPs disclosed
Funds and vehicles
21 reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
Kindred N3T, L.P.Fund2026 form d first saleNewly closedunknownunknown$2.5M
of $2.5M
Aug 5, 2026
Kindred GMF3, L.P.Fund2026 form d first saleNewly closedunknownunknown$19.0M
of $19.0M
May 1, 2026
Kindred GMF1, L.P.Fund2025 form d first saleNewly closed$34.6M
Mar 25, 2026
7$12.0M
of $12.0M
Jun 6, 2025
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

51 co-investors · on 1 other DFX graph
Co-investors
51 counted from shared deals, for the whole firm
Across DFX and the capital chainon 1 other DFX graph Show
Across DFX
  • The same institution is held on RIA and Wealth, matched by identifier. See which records
Across the graphs

Carte Verte Management LLC is the same institution as 1 record in RIA and Wealth.

RIA and Wealth1

The joined record opens with the product, beside every other relationship on this page.

Checking your plan…

Evidence and history

23 dated events, 60 observations from 4 sources
Timeline
23 dated events
  1. Mar 25, 2026
    Kindred Pai, L.P. first reported on Form ADV by Carte Verte Management LLC (Venture Capital Fund), GAV $27,259,871
    Fund first reported on Form ADVFundsInferenceKindred PAI, L.P.Form ADV
  2. Mar 25, 2026
    Kindred Selector II, L.P. first reported on Form ADV by Carte Verte Management LLC (Venture Capital Fund), GAV $37,479,035
    Fund first reported on Form ADVFundsInferenceKindred Selector II, L.P.Form ADV
  3. Mar 25, 2026
    Kindred Pa2, L.P. first reported on Form ADV by Carte Verte Management LLC (Venture Capital Fund), GAV $33,576,621
    Fund first reported on Form ADVFundsInferenceKindred PAI2, L.P.Form ADV
  4. Mar 25, 2026
    Kindred Gmf2, L.P. first reported on Form ADV by Carte Verte Management LLC (Venture Capital Fund), GAV $5,213,794
    Fund first reported on Form ADVFundsInferenceKindred GMF2, L.P.Form ADV
  5. Mar 25, 2026
    Kindred Pa3, L.P. first reported on Form ADV by Carte Verte Management LLC (Venture Capital Fund), GAV $5,054,452
    Fund first reported on Form ADVFundsInferenceKindred PAI3, L.P.Form ADV
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 25, 2026 · 22 private fundsShow
Headquarters
San Francisco, CAadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
Website
kindredventures.com
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 25, 2026
Private funds reported
22 (22 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$1.4Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Classification history
Every classification this record has carried3 on recordShow
  1. Sep 23, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $1.2B across 21 vehicles
  2. Sep 14, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $634M across 19 vehicles
  3. Sep 12, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $634M across 15 vehicles
Evidence
60 observations from 4 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
Why admittedVC exemption, VC funds reportedMar 25, 2026FactForm ADV
SEC exemption claimedVenture capital fund adviserMar 25, 2026FactForm ADV
SEC exemption claimedVenture capital fund adviserMar 27, 2024FactForm ADV
SEC adviser typeExempt reporting adviserMar 25, 2026FactForm ADV
SEC adviser typeExempt reporting adviserMar 25, 2026FactForm ADV
SEC adviser typeExempt reporting adviserMar 27, 2024FactForm ADV
First Form ADV filing2021-03-25Mar 25, 2026FactForm ADV
First Form ADV filing2021-03-25Mar 27, 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 filing2024-03-27Mar 27, 2024FactForm ADV
SEC statusERA - ActiveMar 25, 2026FactForm ADV
SEC status effective2021-03-25Mar 25, 2026FactForm ADV
Venture share of reported funds1Mar 25, 2026FactForm ADV
Venture share of reported funds1Mar 27, 2024FactForm ADV
Business phoneMar 25, 2026FactForm ADV
Business phoneMar 27, 2024FactForm ADV
HeadquartersSan Francisco, CAMar 25, 2026FactForm ADV
HeadquartersSan Francisco, CAMar 27, 2024FactForm ADV
Office addressMar 25, 2026FactForm ADV
Office addressMar 27, 2024FactForm ADV
Legal formLimited Liability CompanyMar 25, 2026FactForm ADV
Legal formLimited Liability CompanyMar 27, 2024FactForm ADV
Portfolio pageOct 1, 2026Factno URL
Portfolio pageSep 16, 2026Factno URL
Portfolio pageSep 13, 2026Factno URL
Private funds reported22Mar 25, 2026FactForm ADV
Private funds reported22Mar 25, 2026FactForm ADV
Private funds reported15Mar 27, 2024FactForm ADV
Private fund gross assets (reported)$1.4BMar 25, 2026FactForm ADV
Private fund gross assets (reported)$1.4BMar 25, 2026FactForm ADV
Private fund gross assets (reported)$634MMar 27, 2024FactForm ADV
Schedule a diffsadiff-1Sep 23, 2026FactForm ADV
Stated geographyAsia, emerging markets, france, global, united states, usa
“geography words on the home page”
Oct 1, 2026Factno URL
Stated geographyAsia, emerging markets, france, global, united states, usa
“geography words on the home page”
Sep 16, 2026Factno URL
Stated geographyAsia, emerging markets, france, global, united states, usa
“geography words on the home page”
Sep 13, 2026Factno URL
Stated sectorsAI, fintech, healthcare, consumer, marketplaces, climate, hardware, space, crypto, logistics, industrial
“sector words on the home page”
Oct 1, 2026Factno URL
Stated sectorsAI, fintech, healthcare, consumer, marketplaces, climate, hardware, space, crypto, logistics, industrial
“sector words on the home page”
Sep 16, 2026Factno URL
Stated sectorsAI, fintech, healthcare, consumer, marketplaces, climate, hardware, space, crypto, logistics, industrial
“sector words on the home page”
Sep 13, 2026Factno URL
Stated stagesSeed, series a
“stage words on the home page”
Oct 1, 2026Factno URL
Stated stagesSeed, series a
“stage words on the home page”
Sep 16, 2026Factno URL
Stated stagesSeed, series a
“stage words on the home page”
Sep 13, 2026Factno URL
Venture funds reported22Mar 25, 2026FactForm ADV
Venture funds reported22Mar 25, 2026FactForm ADV
Venture funds reported15Mar 27, 2024FactForm ADV
WebsiteMar 27, 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 advisersInstitutional venture firm, confirmedShow
Importance
59
elevated
Active deployment
86
high
Emerging
0
low
Freshness
100
high
Institutional venture firmSEC exempt reporting adviser

Venture manager, reported GAV $1.2B across 21 vehicles

The inputs behind each score
importance
gav: $1 · funds: 1 · people: 0.12 · investments: 0.51 · co investors: 0.69
active deployment
investments 12m: 0.88 · fund raising 18m: 1 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: 2026-06-10
emerging manager
fund count: 21 · reported gav: $1.2B · first adv filing: 2021-03-25 · years since first filing: 5.5

Fits, record history and connections

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

Fits

22 scored matches, best firstas of
  • score 45.4confidence 90%
    Why: stage fit; activity; cap table
  • score 40.4confidence 90%
    Why: stage fit; activity; cap table
  • score 40.4confidence 90%
    Why: stage fit; activity; cap table

+19 more scored matches

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

Scored by DFX match engines from the record's observed portfolio, stage, geography and recent activity. A fit is a reason to look, not a mandate; the blockers say what the model could not confirm. Names and the evidence sentences show with the names on this page.

Record history

1 dated event on the change ledger, latest event first
  • Adviser's first ADV filing
    2021-03-25source 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.