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 / Spider Capital
Spider Capital
Based in San Francisco, Spider Capital invests early in enterprise cloud and AI startups, providing capital, expertise, and strategic support.
name or self-description says seed
Importance
41
elevated
Active deployment
55
elevated
Emerging
0
low
Completeness
75
high
Freshness
100
high
Research priority
19
moderate
Identity and regulatory footprint
- Headquarters
- San Francisco, CAadviserinfo.sec.gov
- Office address
- 785 MARKET STREET, SUITE 700, San Francisco, CA, 94103adviserinfo.sec.gov
- Business phone
- 925-366-3735adviserinfo.sec.gov
- 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 21, 2026
- Private funds reported
- 4 (4 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $239Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business email
- contact@spidercapital.comspidercapital.compublished by the subject
- business phone
- 925-366-3735adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
102 observed deals
Stated (the firm’s website)
- Sectors
- ai, enterprise software, healthcare, energy, logistics, industrial
- Stages
- seed, series a
- Geography
- not stated
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- seed
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
unknown 97%Other 1%Construction 1%Other Technology 1%
lead rate n/afollow-on rate n/anew logos, 12 months 102
Funds and vehicles
4 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Spider Capital Partners III, L.P. | Fund | 2023 adv first reported | Active deployment | $76.9M Mar 22, 2024 | 34 | $0 of $100M | Mar 18, 2022 |
| Spider Capital Partners I Select, LP | Growth fund | 2021 adv first reported | Mature | $14.9M Mar 22, 2024 | 24 | $0 of $15.0M | Apr 14, 2020 |
| Spider Capital Partners II, L.P. | Fund | 2019 adv first reported | Mature | $79.4M Mar 22, 2024 | 29 | $0 of $50.0M | Jan 18, 2018 |
| Spider Capital Partners I, LP | Fund | unknown | Unknown | $47.4M Mar 22, 2024 | 41 | $0 of $25.0M | Apr 23, 2015 |
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
16 current, 0 departed
Ron Frankel
Board or advisorySenior Advisor
Michael Joshua Neril
Managing partnerManaging Member · since Apr 1, 2015
Michael Neril
Managing partnerFounder & Managing Partner
David Berman
Operating partnerOperating Partner
Judy Loehr
Operating partnerOperating Partner
Neal Goldman
Operating partnerOperating Partner
Minsoo Chi
PartnerPartner
Philippe Suchet
PartnerPartner
Alan Priest
Venture partnerVenture Advisor
Charles Carmel
Venture partnerVenture Advisor
Courtney Broadus
Venture partnerVenture Advisor
Jeff Ma
Venture partnerVenture Advisor
John Gengarella
Venture partnerVenture Advisor
Matt Fisher
Venture partnerVenture Partner
Ofir Bar Levav
Venture partnerVenture Advisor
Yuri Sagalov
Venture partnerVenture Advisor
Investments on record
102 edges, 102 companies, 0 partner-attributed
“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.
Co-investors
40 relationships from shared deals, counted for the whole firm
Webb Investment Network Management, LLC 19 shared · very strongU.S. Venture Partners 4 shared · strongBling Capital LLC 3 shared · recurringBlumberg Capital, L.L.C. 2 shared · recurringActivant Capital Group LLC 2 shared · recurringSilverton Management, L.L.C. 2 shared · recurringDCVC 2 shared · recurringAccel 2 shared · recurringIndex Ventures Sa 2 shared · recurringGlynn Capital Management, LLC 2 shared · recurringMenlo Ventures 2 shared · recurringInstitutional Venture 2 shared · recurringG Squared Equity LLC 1 shared · one timeTEN Eleven Ventures, LLC 1 shared · one timeNelstone Ventures Advisors 1 shared · one timeMeritage Holdings, LLC 1 shared · one timeVitalizevc Management, LLC 1 shared · one timeElefund Management Company, LLC 1 shared · one timeSpero Management Company, LLC 1 shared · one timeFoundersx Ventures, LLC 1 shared · one timeLumia Capital 1 shared · one timeLerer Hippeau Ventures Management, LLC 1 shared · one timeTrinity Ventures 1 shared · one timeCorazon Group LLC 1 shared · one timeAlkeon Capital Management, LLC 1 shared · one timeChemistry Ventures Management, LLC 1 shared · one timeMastry 1 shared · one timeDeepwater Asset Management, LLC 1 shared · one timeA-Star Partners, LLC 1 shared · one timeCross Creek Advisors, LLC 1 shared · one timeHabitat Partners Management LLC 1 shared · one timeBlackbird Ventures Pty Ltd. 1 shared · one timeKhosla Ventures, LLC 1 shared · one timeManhattan West Asset Management, LLC 1 shared · one timeOWL Ventures 1 shared · one timeOpulentia Ventures M LLC 1 shared · one timePathlight Management III, LLC 1 shared · one timeShine Capital 1 shared · one timeNyca Management LLC 1 shared · one timeMotive Partners 1 shared · one time
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
8 dated events
- Sep 16, 2026Zappli no longer listed on Spider Capital's portfolio pageRemoved from portfolio pagePortfolioInferenceZappliVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 16, 2026Copperegg no longer listed on Spider Capital's portfolio pageRemoved from portfolio pagePortfolioInferenceCoppereggVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 13, 2026Spider Capital: MULTI_STAGE_VC -> SEED_FUND_MANAGER (name or self-description says seed)Classification changedClassificationInferenceno URL
- Mar 27, 2023Spider Capital Partners III, L.P. first reported on Form ADV by Spider Capital (Venture Capital Fund), GAV $63,034,906Fund first reported on Form ADVFundsFactSpider Capital Partners III, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 19, 2021Spider Capital Partners I Select, LP first reported on Form ADV by Spider Capital (Venture Capital Fund), GAV $8,580,000Fund first reported on Form ADVFundsFactSpider Capital Partners I Select, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Feb 23, 2019Spider Capital Partners II, L.P. first reported on Form ADV by Spider Capital (Venture Capital Fund), GAV $48,786,255Fund first reported on Form ADVFundsFactSpider Capital Partners II, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2016Spider Capital first filed Form ADV (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2016Spider Capital Partners I, LP first reported on Form ADV by Spider Capital (Venture Capital Fund), GAV $2,945,417Fund first reported on Form ADVFundsFactSpider Capital Partners I, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 14, 2026Seed fund manager (confirmed, 95%, cls-1)name or self-description says seed
- Sep 12, 2026Multi-stage venture firm (confirmed, 95%, cls-1)both early and growth/opportunity families, reported GAV $219M
Evidence
54 observations from 3 sources