Borealis Ventures
Institutional venture firm, based in Hanover, New Hampshire, reporting $87.4M of fund assets on its funds' Form ADV filings.
Composed from this organization's classification, location and filed figures.
5 additional team members, 7 additional investments, funds and LPs, 14 events, 2 verified contacts (1 general firm email, 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
- 6 dealswith DE Novo Ventures
Invests most often alongside DE Novo Ventures (6 shared deals) and SCP Vitalife (4 shared deals).
pair last observed on record 25 Nov 2015, 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 →
People to know
View all people- PartnerWhy: Partner: part of the investment decisionNo route on file yet
- Managing Director, Borealis Venture Management Ii, LlcWhy: Managing directorNo route on file yet
- Member And Managing Director, Borealis Venture Management Ii, LlcWhy: Managing directorNo route on file yet
Relationship network
22 connected entities7 observed rounds3 repeat counterpartiesrounds 2009 to 2015
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.
- Sponsor
- Company
- Fund or vehicle
- Person
›How strength and recency are read
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 Borealis Ventures: 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 Borealis Ventures
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
2 companies on record, 0 new in 12 months
Investments on record
What these amounts mean“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.Acquired, Public, Exited and Active are what the firm’s own portfolio card says, read on the date shown when you hover the chip; they are not deal dates. A company with no chip is one whose card states no outcome: DFX does not assume it is active.| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| Avedro | Form D equity offering | unknown · board | Philip James Ferneau (strongly supported) | $16.5M form d sold | unknown | Nov 25, 2015 | Inference Form D |
| OmniEarth, Inc | Form D equity offering | unknown · board | Matthews Glenn Rightmire (strongly supported) | $1.3M form d sold | unknown | Apr 27, 2015 | Inference Form D |
Stated thesis versus observed behaviour
- Sectors
- healthcare, biotech
- Stages
- seed
- Geography
- not stated
- Check size
- not stated; DFX does not estimate checks from round sizes
Team
8 current, 1 departed
Decision makers
- Ben Shaw · PartnerWhy this person: Partner: part of the investment decision; Named with investment responsibility
- Matthews Glenn Rightmire · Managing Director, Borealis Venture Management Ii, LlcWhy this person: Managing director; Named with investment responsibility
- Philip James Ferneau · Member And Managing Director, Borealis Venture Management Ii, LlcWhy this person: Managing director; 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
How the team is orderedPartners who lead rounds first (rounds led, then deals attributed, then seniority), then the rest of the investment team, then investor relations, finance and operations. A person named by two sources under two spellings is shown once.- Member And Managing Director, Borealis Venture Management Ii, Llc · 6 deals attributed
- Managing Director, Borealis Venture Management Ii, Llc · 1 deal attributed
- Partner
Contacts
1 general firm email, 1 firm phone on record, each with its source. Values open with the complete profile.
Funds and LPs
6 vehicles, 0 LPs disclosed
Funds and vehicles
What these amounts meanGAV 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.| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Borealis Fund VI, LP | Fund | 2022 form d first sale | Active deployment | $3.3M Mar 30, 2026 | 20 | $5.3M of $100M | May 4, 2023 |
| Borealis Fund V - Veterinary Innovation, LP | Fund | 2021 form d first sale | Mature | $20.7M Mar 30, 2026 | 65 | $33.6M of $50.0M | Sep 20, 2022 |
| VOX Health Fund, LP | Fund | 2018 adv first reported | Harvest | $32.0M Mar 30, 2026 | 62 | unknown | unknown |
Limited partners
Known LPs and allocators
What these amounts and dates areEach commitment is counted once across the pension tape and the allocator graph. A commitment date prints only when the source printed one; otherwise the row carries the report date. A foundation’s 990-PF line is a holding at fair value, never a commitment. Rows without a fund on the venture graph are commitments to this manager.| Allocator | Type | Fund | Amount | Date | Source |
|---|---|---|---|---|---|
| Thomas W Haas Foundation | FOUNDATION | Borealis Granite Fund, LP | $87,034 fair value on the foundation's return | reported as of Dec 31, 2024 | Fact IRS Form 990 / 990-PF e-file returns |
Relationships across DFX
2 co-investors · on 2 other DFX graphs
Co-investors
- 2015-11-256 shared deals · strong
- 2015-11-254 shared deals · strong
Across DFX and the capital chainon 2 other DFX graphs · 1 capital path ShowHide
- The same institution is held on Allocators, RIA and Wealth, matched by identifier. See which records
Borealis Ventures is the same institution as 2 records in Allocators and RIA and Wealth.
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…
Borealis Ventures sits on 1 traced path of capital across the graphs.
DFX traced 1 path of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Evidence and history
19 dated events, 123 observations from 5 sources
Timeline
- Mar 29, 2023Borealis Fund VI, LP first reported on Form ADV by Borealis Ventures (Venture Capital Fund), GAV $1,014,741
- Mar 29, 2022Borealis Fund V - Veterinary Innovation, LP first reported on Form ADV by Borealis Ventures (Venture Capital Fund), GAV $4,938,677
- Mar 31, 2021BV Opportunities Fund, LP no longer reported on Form ADV by Borealis Ventures
- Mar 30, 2020BV Opportunities Fund II, LP no longer reported on Form ADV by Borealis Ventures
- Jan 27, 2020Vox Health Fund, LP filed Form D/A: $12,050,000 sold of $50,000,000, Private Equity Fund
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 30, 2026 · 5 private fundsShowHide
- Headquarters
- Hanover, NHadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- BOREALISVENTURES.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 30, 2026
- Private funds reported
- 5 (5 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets, adviser total
- $87.4Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Classification history
Classification history
Every classification this record has carried4 on recordShowHide
- Sep 23, 2026Institutional venture firm (confirmed, 95%)Venture manager, reported GAV $87M across 6 vehicles
- Sep 15, 2026Institutional venture firm (confirmed, 95%)Venture manager, reported GAV $64M across 6 vehicles
- Sep 15, 2026Institutional venture firm (confirmed, 95%)Venture manager, reported GAV $64M across 5 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 70%)Venture manager with no reported fund assets yet (scale unknown)
Evidence
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| Why admitted | VC exemption, VC funds reported | Mar 30, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Mar 30, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Mar 29, 2024 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 30, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 30, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 29, 2024 | Fact | Form ADV |
| First Form ADV filing | 2012-03-30 | Mar 30, 2026 | Fact | Form ADV |
| First Form ADV filing | 2012-03-30 | Mar 29, 2024 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-30 | Oct 1, 2026 | 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 | 2026-03-30 | Mar 30, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-03-30 | Mar 30, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2024-03-29 | Mar 29, 2024 | Fact | Form ADV |
| SEC status | ERA - Active | Mar 30, 2026 | Fact | Form ADV |
| SEC status effective | 2012-03-30 | Mar 30, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Mar 30, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Mar 29, 2024 | Fact | Form ADV |
| Business phone | Mar 30, 2026 | Fact | Form ADV | |
| Business phone | Mar 29, 2024 | Fact | Form ADV | |
| Entity type | Limited Partnership | Jan 27, 2020 | Fact | Form D |
| Entity type | Limited Partnership | Aug 7, 2018 | Fact | Form D |
| Entity type | Limited Partnership | Aug 10, 2017 | Fact | Form D |
| Form D fund type | Private Equity Fund | Jan 27, 2020 | Fact | Form D |
| Form D fund type | Private Equity Fund | Aug 7, 2018 | Fact | Form D |
| Form D fund type | Private Equity Fund | Aug 10, 2017 | Fact | Form D |
| Form D industry group | Pooled Investment Fund | Jan 27, 2020 | Fact | Form D |
| Form D industry group | Pooled Investment Fund | Aug 7, 2018 | Fact | Form D |
| Form D industry group | Pooled Investment Fund | Aug 10, 2017 | Fact | Form D |
| Amendment | true | Jan 27, 2020 | Fact | Form D |
| Amendment | true | Aug 7, 2018 | Fact | Form D |
| Amendment | false | Aug 10, 2017 | Fact | Form D |
| Revenue range (Form D) | Not Applicable | Jan 27, 2020 | Fact | Form D |
| Revenue range (Form D) | Not Applicable | Aug 7, 2018 | Fact | Form D |
| Revenue range (Form D) | Not Applicable | Aug 10, 2017 | Fact | Form D |
| Headquarters | Hanover, NH | Mar 30, 2026 | Fact | Form ADV |
| Headquarters | Hanover, NH | Mar 29, 2024 | Fact | Form ADV |
| Incorporated | withinFiveYears | Jan 27, 2020 | Fact | Form D |
| Incorporated | withinFiveYears | Aug 7, 2018 | Fact | Form D |
| Incorporated | withinFiveYears | Aug 10, 2017 | Fact | Form D |
| Jurisdiction | Delaware | Jan 27, 2020 | Fact | Form D |
| Jurisdiction | Delaware | Aug 7, 2018 | Fact | Form D |
| Jurisdiction | Delaware | Aug 10, 2017 | Fact | Form D |
| Amount sold (Form D) | 12,050,000 | Jan 27, 2020 | Fact | Form D |
| Amount sold (Form D) | 11,550,000 | Aug 7, 2018 | Fact | Form D |
| Amount sold (Form D) | 0 | Aug 10, 2017 | Fact | Form D |
| Offering amount (Form D) | 50,000,000 | Jan 27, 2020 | Fact | Form D |
| Offering amount (Form D) | 50,000,000 | Aug 7, 2018 | Fact | Form D |
| Offering amount (Form D) | 50,000,000 | Aug 10, 2017 | Fact | Form D |
| Exemptions | 06b, 3C, 3C.1 | Jan 27, 2020 | Fact | Form D |
| Exemptions | 06b, 3C, 3C.1 | Aug 7, 2018 | Fact | Form D |
| Exemptions | 06b, 3C, 3C.1 | Aug 10, 2017 | Fact | Form D |
| First sale | 2017-09-01 | Jan 27, 2020 | Fact | Form D |
| First sale | 2017-09-01 | Aug 7, 2018 | Fact | Form D |
| Investors (Form D) | 21 | Jan 27, 2020 | Fact | Form D |
| Investors (Form D) | 18 | Aug 7, 2018 | Fact | Form D |
| Investors (Form D) | 0 | Aug 10, 2017 | Fact | Form D |
| Minimum investment (Form D) | 0 | Jan 27, 2020 | Fact | Form D |
| Minimum investment (Form D) | 0 | Aug 7, 2018 | Fact | Form D |
| Minimum investment (Form D) | 0 | Aug 10, 2017 | Fact | Form D |
| Securities offered | pooled | Jan 27, 2020 | Fact | Form D |
| Securities offered | pooled | Aug 7, 2018 | Fact | Form D |
| Securities offered | pooled | Aug 10, 2017 | Fact | Form D |
| Office address | Mar 30, 2026 | Fact | Form ADV | |
| Office address | Mar 29, 2024 | Fact | Form ADV | |
| Office address | Jan 27, 2020 | Fact | Form D | |
| Office address | Aug 7, 2018 | Fact | Form D | |
| Office address | Aug 10, 2017 | Fact | Form D | |
| Legal form | Limited Liability Company | Mar 30, 2026 | Fact | Form ADV |
| Legal form | Limited Liability Company | Mar 29, 2024 | Fact | Form ADV |
| Portfolio page | Oct 1, 2026 | Fact | ||
| Portfolio page | Sep 16, 2026 | Fact | ||
| Portfolio page | Sep 13, 2026 | Fact | ||
| Private funds reported | 5 | Mar 30, 2026 | Fact | Form ADV |
| Private funds reported | 5 | Mar 30, 2026 | Fact | Form ADV |
| Private funds reported | 5 | Mar 29, 2024 | Fact | Form ADV |
| Private fund gross assets (reported) | $87.4M | Mar 30, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $87.4M | Mar 30, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $64.2M | Mar 29, 2024 | Fact | Form ADV |
| Schedule a diff | sadiff-1 | Mar 30, 2026 | Fact | Form ADV |
| Stated sectors | Healthcare, biotech “sector words on the home page” | Oct 1, 2026 | Fact | |
| Stated sectors | Healthcare, biotech “sector words on the home page” | Sep 16, 2026 | Fact | |
| Stated sectors | Healthcare, biotech “sector words on the home page” | Sep 13, 2026 | Fact | |
| Stated stages | seed “stage words on the home page” | Oct 1, 2026 | Fact | |
| Stated stages | seed “stage words on the home page” | Sep 16, 2026 | Fact | |
| Stated stages | seed “stage words on the home page” | Sep 13, 2026 | Fact | |
| Team page | Oct 1, 2026 | Fact | ||
| Team page | Sep 16, 2026 | Fact | ||
| Team page | Sep 13, 2026 | Fact | ||
| Venture funds reported | 5 | Mar 30, 2026 | Fact | Form ADV |
| Venture funds reported | 5 | Mar 30, 2026 | Fact | Form ADV |
| Venture funds reported | 5 | Mar 29, 2024 | Fact | Form ADV |
| Website | Sep 12, 2026 | Fact | Form ADV | |
| Website | Mar 29, 2024 | Fact | Form ADV | |
| Website resolved domain | Oct 1, 2026 | Fact | ||
| Website resolved domain | Sep 16, 2026 | Fact | ||
| Website resolved domain | Sep 14, 2026 | Fact | ||
| Site title | Oct 1, 2026 | Fact | ||
| Site title | Sep 16, 2026 | Fact | ||
| Site title | Sep 13, 2026 | Fact | ||
| Year of incorporation | 2017 | Jan 27, 2020 | Fact | Form D |
| Year of incorporation | 2017 | Aug 7, 2018 | Fact | Form D |
| Year of incorporation | 2017 | Aug 10, 2017 | Fact | Form D |
How this is scored
Scores, classification basis and filing advisersInstitutional venture firm, confirmedShowHide
Venture manager, reported GAV $87M across 6 vehicles
- importance
- gav: 0.28 · funds: 0.83 · people: 0.36 · investments: 0.31 · co investors: 0.12
- active deployment
- investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 0 · latest investment at: not scored
- emerging manager
- fund count: 10 · reported gav: $87.4M · first adv filing: 2012-03-30 · years since first filing: 14.5
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Record history
- Form D filed2020-01-27source on record
- Form D filed2018-08-07source on record
- Form D filed2017-08-10source on record
+1 more change 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.