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 / Darwin Ventures, LLC
Darwin Ventures, LLC
Darwin Ventures is a venture capital fund of funds that provides individual and institutional investors (primarily educational endowments and foundations) unique access to investment opportunities that are generally unavailable to most investors. The firm was founded for the purpose of providing selective investments in top-tier venture capital funds. These investments include a diverse group of venture
venture manager, reported GAV $593M across 10 vehicles
Importance
44
elevated
Active deployment
55
elevated
Emerging
0
low
Completeness
75
high
Freshness
100
high
Research priority
19
moderate
Identity and regulatory footprint
- Headquarters
- Sandpoint, IDadviserinfo.sec.gov
- Office address
- 414 CHURCH STREET, SUITE 111, Sandpoint, ID, 83864adviserinfo.sec.gov
- Business phone
- 415-362-0648adviserinfo.sec.gov
- Website
- HTTP://WWW.DARWINVC.COM
- SEC adviser type
- registered investment adviseradviserinfo.sec.gov
- SEC exemption claimed
- unknown
- Latest Form ADV
- Mar 31, 2026
- Private funds reported
- 12 (12 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $829Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Regulatory AUM
- $908Mthe adviser's RAUM, a regulatory measure, never a fund size
- Employees
- 4
- business phone
- 415-362-0648adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
38 observed deals
Stated (the firm’s website)
- Sectors
- healthcare
- Stages
- early
- Geography
- not stated
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- venture capital
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
unknown 100%
lead rate n/afollow-on rate n/anew logos, 12 months 38
Funds and vehicles
10 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Darwin Ventures Vi-B LLC | Feeder or parallel | 2023 adv first reported | Active deployment | $6.3M Oct 22, 2024 | 2 | unknown | unknown |
| Darwin Ventures Vi-C LLC | Fund | 2023 adv first reported | Active deployment | $1.1M Oct 22, 2024 | 1 | unknown | unknown |
| Darwin Ventures Vi-A LLC | Feeder or parallel | 2022 adv first reported | Active deployment | $9.4M Oct 22, 2024 | 4 | unknown | unknown |
| Darwin Venture Capital Fund-Of-Funds VI, L.P. | Fund | 2021 adv first reported | Mature | $76.0M Oct 22, 2024 | 63 | $0 of $100M | Mar 1, 2021 |
| Darwin Ventures V-A LLC | Feeder or parallel | 2021 adv first reported | Mature | $7.1M Oct 22, 2024 | 2 | unknown | unknown |
| Darwin Venture Capital Fund-Of-Funds V, L.P. | Fund | 2019 adv first reported | Mature | $86.6M Oct 22, 2024 | 75 | $0 of $110M | Feb 19, 2019 |
| Darwin Venture Capital Fund-Of-Funds IV, L.P. | Fund | 2016 form d first sale | Harvest | $108M Oct 22, 2024 | 74 | $63.6M of $100M | Oct 11, 2017 |
| Darwin Venture Capital Fund-Of-Funds III, L.P. | Fund | 2014 adv first reported | Harvest | $74.1M Oct 22, 2024 | 56 | unknown | unknown |
| Darwin Venture Capital Fund-Of-Funds II, L.P. | Fund | unknown | Unknown | $213M Oct 22, 2024 | 30 | unknown | unknown |
| Darwin Venture Capital Fund-Of-Funds, L.P. | Fund | unknown | Unknown | $11.7M Oct 22, 2024 | 20 | unknown | unknown |
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
2 current, 0 departed
JR. Frank R. (mi Only) Caufield
Managing partnerManaging General Partner, Managing Member · since Sep 1, 2002
Ryan Patrick Cotton
Platform and operationsChief Compliance Officer, Partner · since Jan 1, 2020
Investments on record
38 edges, 38 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
18 relationships from shared deals, counted for the whole firm
Eden Road Capital, LLC 2 shared · recurringLightspeed Faction 1 shared · one timeCanaan Partners 1 shared · one timePTV Healthcare Capital 1 shared · one time · they led 1Coatue Management, L.L.C. 1 shared · one timePropel Venture Partners Management Co. 1 shared · one timeSoftbank, Inc. 1 shared · one time · they led 1Bessemer Venture Partners 1 shared · one time · they led 1Veronorte S.A.S 1 shared · one timeCrosslink Capital, Inc. 1 shared · one timeClean Energy Venture Management, LLC 1 shared · one timeBain Capital Life Sciences 1 shared · one time · they led 1Tiger Global 1 shared · one time · they led 1Swisscom Ventures 1 shared · one timeFelicis Ventures 1 shared · one timeRivervest Venture Partners 1 shared · one timePayPal Ventures 1 shared · one timeLife Sciences 1 shared · one time · they led 1
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
12 dated events
- Mar 31, 2023Darwin Ventures Vi-B LLC first reported on Form ADV by Darwin Ventures, LLC (Venture Capital Fund), GAV $6,126,473Fund first reported on Form ADVFundsFactDarwin Ventures Vi-B LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2023Darwin Ventures Vi-C LLC first reported on Form ADV by Darwin Ventures, LLC (Venture Capital Fund), GAV $1,030,000Fund first reported on Form ADVFundsFactDarwin Ventures Vi-C LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2022Darwin Ventures Vi-A LLC first reported on Form ADV by Darwin Ventures, LLC (Venture Capital Fund), GAV $10,000,000Fund first reported on Form ADVFundsFactDarwin Ventures Vi-A LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2021Darwin Ventures V-A LLC first reported on Form ADV by Darwin Ventures, LLC (Venture Capital Fund), GAV $5,301,326Fund first reported on Form ADVFundsFactDarwin Ventures V-A LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2021Darwin Venture Capital Fund-Of-Funds VI, L.P. first reported on Form ADV by Darwin Ventures, LLC (Venture Capital Fund)Fund first reported on Form ADVFundsFactDarwin Venture Capital Fund-Of-Funds VI, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jan 1, 2020Ryan Patrick Cotton joined Schedule A of Darwin Ventures, LLC as Chief Compliance Officer
- Mar 21, 2019Darwin Venture Capital Fund-Of-Funds V, L.P. first reported on Form ADV by Darwin Ventures, LLC (Venture Capital Fund)Fund first reported on Form ADVFundsFactDarwin Venture Capital Fund-Of-Funds V, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jul 12, 2016Darwin Venture Capital Fund-Of-Funds IV, L.P. first reported on Form ADV by Darwin Ventures, LLC (Venture Capital Fund)Fund first reported on Form ADVFundsFactDarwin Venture Capital Fund-Of-Funds IV, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Sep 15, 2014Darwin Venture Capital Fund-Of-Funds III, L.P. first reported on Form ADV by Darwin Ventures, LLC (Venture Capital Fund), GAV $23,697,477Fund first reported on Form ADVFundsFactDarwin Venture Capital Fund-Of-Funds III, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Feb 2, 2012Darwin Ventures, LLC first filed Form ADV (IA)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Feb 2, 2012Darwin Venture Capital Fund-Of-Funds, L.P. first reported on Form ADV by Darwin Ventures, LLC (Venture Capital Fund), GAV $50,124,693Fund first reported on Form ADVFundsFactDarwin Venture Capital Fund-Of-Funds, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Feb 2, 2012Darwin Venture Capital Fund-Of-Funds II, L.P. first reported on Form ADV by Darwin Ventures, LLC (Venture Capital Fund), GAV $105,585,033Fund first reported on Form ADVFundsFactDarwin Venture Capital Fund-Of-Funds II, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 12, 2026Institutional venture firm (probable, 80%, cls-1)venture manager, reported GAV $593M across 10 vehicles
Evidence
68 observations from 3 sources
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| Why admitted | vc_funds_reported | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| SEC adviser type | registered_investment_adviser | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| SEC adviser type | registered_investment_adviser | Oct 22, 2024 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| First Form ADV filing | 2012-02-02 | Oct 22, 2024 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| Adv history loaded | adv-hist-1 | Sep 12, 2026 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| Latest Form ADV filing | 2026-03-31 | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| Latest Form ADV filing | 2024-10-22 | Oct 22, 2024 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| SEC status | Approved | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| SEC status effective | 2012-02-13 | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| Venture share of reported funds | 1 | Oct 22, 2024 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| Business phone | 415-362-0648 | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| Business phone | 415-362-0648 | Oct 22, 2024 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| Contact page url | https://darwinvc.com/contact/ “contact page linked from the home page” | Sep 16, 2026 | Fact | Venture organization websites (about, team, portfolio, thesis, news pages) |
| Description | Darwin Ventures is a venture capital fund of funds that provides individual and institutional investors (primarily educational endowments and foundations) unique access to investment opportunities that are generally unavailable to most investors.
The firm was founded for the purpose of providing selective investments in top-tier venture capital funds. These investments include a diverse group of venture “meta description” | Sep 16, 2026 | Fact | Venture organization websites (about, team, portfolio, thesis, news pages) |
| Description | Darwin Ventures is a venture capital fund of funds that provides individual and institutional investors (primarily educational endowments and foundations) unique access to investment opportunities that are generally unavailable to most investors.
The firm was founded for the purpose of providing selective investments in top-tier venture capital funds. These investments include a diverse group of venture “meta description” | Sep 13, 2026 | Fact | Venture organization websites (about, team, portfolio, thesis, news pages) |
| Employees | 4 | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| Employees | 4 | Oct 22, 2024 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| Headquarters | Sandpoint, ID | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| Headquarters | Sandpoint, ID | Oct 22, 2024 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| Office address | 414 CHURCH STREET, SUITE 111, Sandpoint, ID, 83864 | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| Office address | 414 CHURCH STREET, SUITE 111, Sandpoint, ID, 83864 | Oct 22, 2024 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| Self-described type | venture_capital “Darwin Ventures is a venture capital fund of funds that provides individual and institutional investors (primarily educational endowments and foundations) unique access to investment opportunities tha” | Sep 16, 2026 | Fact | Venture organization websites (about, team, portfolio, thesis, news pages) |
| Self-described type | venture_capital “Darwin Ventures is a venture capital fund of funds that provides individual and institutional investors (primarily educational endowments and foundations) unique access to investment opportunities tha” | Sep 13, 2026 | Fact | Venture organization websites (about, team, portfolio, thesis, news pages) |
| Legal form | Limited Liability Company | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| Portfolio page | https://darwinvc.com/portfolio/ “39 entries read” | Sep 16, 2026 | Fact | Venture organization websites (about, team, portfolio, thesis, news pages) |
| Portfolio page | https://darwinvc.com/portfolio/ “39 entries read” | Sep 13, 2026 | Fact | Venture organization websites (about, team, portfolio, thesis, news pages) |
| Private funds reported | 12 | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| Private funds reported | 10 | Oct 22, 2024 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| Private fund gross assets (reported) | $829M | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| Private fund gross assets (reported) | $593M | Oct 22, 2024 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| Regulatory AUM (adviser, not fund size) | $908M | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| Regulatory AUM (adviser, not fund size) | $593M | Oct 22, 2024 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| Stated sectors | healthcare “sector words on the home page” | Sep 16, 2026 | Fact | Venture organization websites (about, team, portfolio, thesis, news pages) |
| Stated sectors | healthcare “sector words on the home page” | Sep 13, 2026 | Fact | Venture organization websites (about, team, portfolio, thesis, news pages) |
| Stated stages | early “stage words on the home page” | Sep 16, 2026 | Fact | Venture organization websites (about, team, portfolio, thesis, news pages) |
| Stated stages | early “stage words on the home page” | Sep 13, 2026 | Fact | Venture organization websites (about, team, portfolio, thesis, news pages) |
| Venture funds reported | 12 | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| Venture funds reported | 10 | Oct 22, 2024 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| Website | HTTP://WWW.DARWINVC.COM | Mar 31, 2026 | Fact | SEC Form ADV monthly roster (registered + exempt reporting advisers) |
| Website | HTTP://WWW.DARWINVC.COM | Oct 22, 2024 | Fact | SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B) |
| Site title | Home - Darwin Ventures “title tag” | Sep 16, 2026 | Fact | Venture organization websites (about, team, portfolio, thesis, news pages) |
| Site title | Home - Darwin Ventures “title tag” | Sep 13, 2026 | Fact | Venture organization websites (about, team, portfolio, thesis, news pages) |