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.
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Firms / S••••••• C•••••• M••••••••• L••
S••••••• C•••••• M••••••••• L••
Private equity with venture activity · probableNew York, NYs•••••.comSEC registered investment adviser
Montanova Capital, LLC ("Montanova") is an investment management firm that was formed in 2011. Montanova manages three strategies: Averill and Averill Madison, two healthcare-focused long/short equity strategies, and S•••••••, a generalist long/short equity strategy.
registered adviser; venture funds are 20% of 4 private funds
Importance
2
low
Active deployment
0
low
Emerging
0
low
Completeness
63
high
Freshness
99
high
Research priority
0
low
Identity and regulatory footprint
- Headquarters
- New York, NYadviserinfo.sec.gov
- Office address
- 540 MADISON AVENUE, 7TH FLOOR, New York, NY, 10022adviserinfo.sec.gov
- Business phone
- 212-702-5200adviserinfo.sec.gov
- Website
- s•••••.com
- SEC adviser type
- registered investment adviseradviserinfo.sec.gov
- SEC exemption claimed
- unknown
- Latest Form ADV
- Mar 26, 2024
- Private funds reported
- 4 (1 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $4.5Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Regulatory AUM
- $4.5Bthe adviser's RAUM, a regulatory measure, never a fund size
- Employees
- 24
- Owners on Schedule A
- S••••••• C••••••• L• (Member), E; S••••••• C•••••• G•• L•• (General Partner), F
- business phone
- 212-702-5200adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
no observed deals yet
Stated (the firm’s website)
- Sectors
- healthcare
- Stages
- not stated or not yet read
- Geography
- new york
- Check size
- not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors: no observed deals yet
lead rate n/afollow-on rate n/anew logos, 12 months 0
Funds and vehicles
1 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| A•••••• O••••••••• O••••••• F••• I• L• | Opportunity fund | 2021 form d first sale | Mature | $7.4M Mar 26, 2024 | 39 | $100,000 | Jan 13, 2021 |
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
3 current, 2 departed
A•••• L•••••• C••••
Managing partnerManaging Member · since Jan 1, 2017
A••••• N••••••••
Platform and operationsGeneral Counsel & Chief Compliance Officer · since Mar 1, 2014
G•••• S••••••
Platform and operationsChief Financial Officer · since Sep 1, 2011
2 departed (kept with end dates)
- L••••• N••••• C•••• · Trustee -The A•••• C•••• 2012 Family Trust · Feb 1, 2012 to Jan 18, 2017 Inference
- K•••• R•••• W••••• · President & Chief Operating Officer · Sep 1, 2011 to Jun 14, 2023 Inference
Investments on record
0 edges, 0 companies, 0 partner-attributed
No investment on record yet. Edges arrive from the firm’s portfolio page, financing announcements, and Form D board seats.
Co-investors
0 relationships from shared deals, counted for the whole firm
No co-investor relationship yet: these are derived only from rounds and portfolio listings the graph has seen both investors on.
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
6 dated events
- Jun 14, 2023K•••• R•••• W••••• (President & Chief Operating Officer) no longer on Schedule A of S••••••• C•••••• M••••••••• L••
- Mar 29, 2021A•••••• O••••••••• O••••••• F••• I• L• first reported on Form ADV by S••••••• C•••••• M••••••••• L•• (Venture Capital Fund)Fund first reported on Form ADVFundsFactA•••••• O••••••••• O••••••• F••• I• L•SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jan 18, 2017L••••• N••••• C•••• (Trustee -The A•••• C•••• 2012 Family Trust) no longer on Schedule A of S••••••• C•••••• M••••••••• L••
- Mar 1, 2014A••••• N•••••••• joined Schedule A of S••••••• C•••••• M••••••••• L•• as Chief Compliance Officer
- Sep 28, 2012S••••••• C•••••• M••••••••• L•• first filed Form ADV (ERA)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Feb 1, 2012L••••• N••••• C•••• joined Schedule A of S••••••• C•••••• M••••••••• L•• as Trustee -The A•••• C•••• 2012 Family Trust
Classification history
- Sep 12, 2026Private equity with venture activity (probable, 75%, cls-1)registered adviser; venture funds are 20% of 4 private funds
Evidence
50 observations from 2 sources