Vistra Fund Management S.A.
Multi-stage venture firm, based in Luxembourg, reporting $4.8B of fund assets on its funds' Form ADV filings.
Composed from this organization's classification, location and filed figures.
1 additional team member, 9 additional co-investors and affiliates, 14 additional investments, funds and LPs, 22 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 on 15 Apr 2026.
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 Director, Conducting Officer (Aifm)Why: Managing directorNo route on file yet
- DirectorWhy: Named with investment responsibilityNo route on file yet
Relationship network
20 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
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 Vistra Fund Management S.A.: 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 Vistra Fund Management S.A.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
0 companies on record, 0 new in 12 months
- Sectors
- not stated or not yet read
- Stages
- not stated or not yet read
- Geography
- asia, australia, germany, global, globally, india, latin america, uk
- Check size
- not stated; DFX does not estimate checks from round sizes
Team
5 current, 4 departed
- Jan Vanhoutte · Managing Director, Conducting Officer (Aifm)Why this person: Managing director; Named with investment responsibility
Who else at this firm · 1 person, grouped by function
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.
- Managing Director, Conducting Officer (Aifm)
- Director
- Board Member
4 departed (kept with end dates)
- Antonino Borgesano · Conducting Officer (Aifm) - Risk Manager · Jun 1, 2018 to Mar 31, 2023 Inference
- Charles-Alexandre Paul Houillon · Director, Conducting Officer (Aifm) - Portfolio Manager · Jun 1, 2020 to Mar 31, 2022 Inference
- Gerard Charles Mullen · Finance Director · Jun 1, 2018 to Mar 28, 2019 Inference
1 firm phone on record, each with its source. Values open with the complete profile.
Funds and LPs
16 vehicles, 0 LPs disclosed
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Bpea Private Equity Fund VII, Scsp | Fund · ADV: Private Equity Fund | 2024 adv first reported | Early deployment | $1.6B Apr 15, 2026 | 76 | unknown | unknown |
| Zetland Special Situations Master Fund III (usd) | Feeder or parallel · ADV: Private Equity Fund | 2024 adv first reported | Early deployment | $167M Apr 15, 2026 | 31 | unknown | unknown |
| Redford Eu II Holdings S.C.A. | Fund · ADV: Private Equity Fund | 2024 adv first reported | Early deployment | $148M Jul 9, 2024 | 18 | unknown | unknown |
Relationships across DFX
0 co-investors · on 2 other DFX graphs
Across DFX and the capital chainon 2 other DFX graphs ShowHide
- The same institution is held on Private Equity, Real Estate Funds, matched by identifier. See which records
Vistra Fund Management S.A. is the same institution as 2 records in Private Equity and Real Estate Funds.
DFX found 2 relationships across 2 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
27 dated events, 47 observations from 3 sources
- seen on or beforeSep 23, 2026Vistra Fund Management S.A.: INSTITUTIONAL_VC -> MULTI_STAGE_VC (both early and growth/opportunity families, reported GAV $4,817M)Classification changedClassificationInferenceno URL
- Apr 15, 2026Julien André Nazeyrollas (Finance Director) no longer on Schedule A of Vistra Fund Management S.A.
- Apr 15, 2026Zetland Special Situations Feeder Fund II Scsp first reported on Form ADV by Vistra Fund Management S.A. (Private Equity Fund), GAV $244,810,588
- Apr 15, 2026Hayfin Private Equity Solutions III Scsp first reported on Form ADV by Vistra Fund Management S.A. (Private Equity Fund), GAV $143,686,352
- Apr 15, 2026Hayfin Healthcare Opportunities Fund II Scsp first reported on Form ADV by Vistra Fund Management S.A. (Other Private Fund), GAV $273,788,929
Address, phone, Form ADV filing and ownersForm ADV filed Apr 15, 2026 · 18 private fundsShowHide
- Headquarters
- Luxembourg, Luxembourgadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- VISTRA.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
- Apr 15, 2026
- Private funds reported
- 18 (0 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets, adviser total
- $17Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- Virtue Co-Investment, L.P. 2 (Shareholder), owns 75% or more; Thevelia Aggregator, L.P. (Shareholder), owns 75% or more; Thevelia Parent Limited (Shareholder), owns 75% or more
Classification history
Every classification this record has carried4 on recordShowHide
- Sep 30, 2026Multi-stage venture firm (probable, 80%)Both early and growth/opportunity families, reported GAV $4.8B
- Sep 23, 2026Multi-stage venture firm (probable, 80%)Both early and growth/opportunity families, reported GAV $4.8B
- Sep 14, 2026Institutional venture firm (probable, 80%)Venture manager, reported GAV $2.2B across 12 vehicles
- Sep 12, 2026Institutional venture firm (probable, 80%)Venture manager, reported GAV $4.6B across 18 vehicles
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| SEC exemption claimed | Venture capital fund adviser | Jul 9, 2024 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Apr 15, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Jul 9, 2024 | Fact | Form ADV |
| First Form ADV filing | 2018-08-21 | Apr 15, 2026 | Fact | Form ADV |
| First Form ADV filing | 2018-08-21 | Jul 9, 2024 | 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 | 2026-04-15 | Apr 15, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2024-07-09 | Jul 9, 2024 | Fact | Form ADV |
| Venture share of reported funds | 0 | Apr 15, 2026 | Fact | Form ADV |
| Venture share of reported funds | 0 | Jul 9, 2024 | Fact | Form ADV |
| Business phone | Jul 9, 2024 | Fact | Form ADV | |
| Contact page url | Oct 1, 2026 | Fact | no URL | |
| Contact page url | Sep 16, 2026 | Fact | no URL | |
| Headquarters | Luxembourg, Luxembourg | Jul 9, 2024 | Fact | Form ADV |
| Office address | Jul 9, 2024 | Fact | Form ADV | |
| Legal form | Corporation | Jul 9, 2024 | Fact | Form ADV |
| Private funds reported | 18 | Apr 15, 2026 | Fact | Form ADV |
| Private funds reported | 18 | Jul 9, 2024 | Fact | Form ADV |
| Private fund gross assets (reported) | $17B | Apr 15, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $4.6B | Jul 9, 2024 | Fact | Form ADV |
| Schedule a diff | sadiff-1 | Apr 15, 2026 | Fact | Form ADV |
| Stated geography | Asia, australia, germany, global, globally, india, latin america, UK “geography words on the home page” | Oct 1, 2026 | Fact | no URL |
| Stated geography | Asia, australia, germany, global, globally, india, latin america, UK “geography words on the home page” | Sep 16, 2026 | Fact | no URL |
| Stated geography | Asia, australia, germany, global, globally, india, latin america, UK “geography words on the home page” | Sep 13, 2026 | Fact | no URL |
| Team page | Oct 1, 2026 | Fact | no URL | |
| Team page | Sep 16, 2026 | Fact | no URL | |
| Team page | Sep 13, 2026 | Fact | no URL | |
| Venture funds reported | 0 | Apr 15, 2026 | Fact | Form ADV |
| Venture funds reported | 0 | Jul 9, 2024 | Fact | Form ADV |
| Website | Jul 9, 2024 | Fact | Form ADV | |
| Site title | Oct 1, 2026 | Fact | no URL | |
| Site title | Sep 16, 2026 | Fact | no URL | |
| Site title | Sep 13, 2026 | Fact | no URL |
How this is scored
Scores, classification basis and filing advisersMulti-stage venture firm, probableShowHide
Both early and growth/opportunity families, reported GAV $4.8B
- importance
- gav: $1 · funds: 1 · people: 0.12 · investments: 0 · co investors: 0
- active deployment
- investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: not scored
- emerging manager
- fund count: 18 · reported gav: $4.8B · first adv filing: 2018-08-21 · years since first filing: 8.1
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Record history
- Organization classification changed2026-09-23
- Fund refused2026-09-14
- Fund refused2026-09-14
+10 more changes on this record's ledger
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
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.