DFX Intelligence
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L•••• C•••••• L••
Private equity with venture activitySEC-registered adviserRaisingClassification probable· San Juan
Private equity with venture activity, based in San Juan, reporting $1.7B of private fund gross assets across 18 funds.
Composed from this organization's classification, location and filed figures.
As of · the latest observation of this organization; filed figures are as of its latest Form ADV
- Fund gross assets
- $1.7B
- Investment team
- 1
- Latest vintage
- 2025
Form ADV, Schedule D
Form ADV Schedule A and the firm's team page
Form ADV and Form D
As of · the latest observation of this organization; filed figures are as of its latest Form ADV
Nothing material in the last 180 days. Last change: 23 Dec 2025, 2 vehicles filed a Form D in the last 18 months, the latest L•••• C•••••• A• on 23 Dec 2025. Largest offerings: L•••• C•••••• A• $57.3M and L•••• C•••••• S•••••• $52.5M. $111M reported sold so far.
Scores, classification basis and filing advisersPrivate equity with venture activity, probableShowHide
Importance
39
elevated
Active deployment
60
high
Emerging
0
low
Completeness
44
elevated
Freshness
100
high
Research priority
26
moderate
Private equity with venture activity · probableSEC registered investment adviser
Registered adviser; venture funds are 19% of 18 private funds
Investments on recordWhat 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.
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.
Investment teamHow 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.
2 current, 0 departed
- Managing Director And Chief Investment Officer
- Managing Director Chief Compliance Officer
Full team · 2 peoplewith contacts and sources
M•••••• W••••••• L••••
PartnerManaging Director And Chief Investment Officer · since Oct 1, 2015
FactForm ADV
B••••••• L•••••• J••••••
Platform and operationsManaging Director Chief Compliance Officer · since Mar 1, 2021
FactForm ADV
Co-investors
0 counted from shared deals, 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.
Funds and vehiclesWhat 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.
18 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| L•••• C•••••• S•••••• L• | Fund | 2025 form d first sale | Fundraising | $61.3M Sep 12, 2026 | 78 | $42.4M of $52.5M | May 27, 2025 |
| L•••• C•••••• A• L• | Fund | 2025 form d first sale | Fundraising | $57.3M Sep 12, 2026 | 138 | $55.8M of $57.3M | Dec 23, 2025 |
| L•••• I••••••• W• L• | Fund | 2025 form d first sale | Fundraising | $26.8M Sep 12, 2026 | 38 | $7.9M of $45.0M | Dec 22, 2025 |
| L•••• I••••••• 0• L• | Fund | 2025 form d first sale | Newly closed | $5.0M Sep 12, 2026 | 17 | $5.0M of $5.0M | Nov 7, 2025 |
| L•••• C•••••• S•••• I• L•• | Fund | 2024 form d first sale | Early deployment | $176M Sep 12, 2026 | 79 | $52.9M of $52.9M | Apr 12, 2024 |
View all 18 vehiclesnewest vintage first, no longer reported last
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| L•••• C•••••• S•••••• L• | Fund | 2025 form d first sale | Fundraising | $61.3M Sep 12, 2026 | 78 | $42.4M of $52.5M | May 27, 2025 |
| L•••• C•••••• A• L• | Fund | 2025 form d first sale | Fundraising | $57.3M Sep 12, 2026 | 138 | $55.8M of $57.3M | Dec 23, 2025 |
| L•••• I••••••• W• L• | Fund | 2025 form d first sale | Fundraising | $26.8M Sep 12, 2026 | 38 | $7.9M of $45.0M | Dec 22, 2025 |
| L•••• I••••••• 0• L• | Fund | 2025 form d first sale | Newly closed | $5.0M Sep 12, 2026 | 17 | $5.0M of $5.0M | Nov 7, 2025 |
| L•••• C•••••• S•••• I• L•• | Fund | 2024 form d first sale | Early deployment | $176M Sep 12, 2026 | 79 | $52.9M of $52.9M | Apr 12, 2024 |
| L•••• C•••••• S•• I•• L• | Fund | 2024 form d first sale | Early deployment | $20.3M Sep 12, 2026 | 51 | $14.3M of $64.3M | Jul 10, 2024 |
| L•••• C•••••• S•••• L•• | Fund | 2023 form d first sale | Active deployment | $192M Sep 12, 2026 | 78 | $40.4M of $40.4M | Jul 8, 2024 |
| L•••• C•••••• V•• I• L•• | Fund | 2023 form d first sale | Active deployment | $37.3M Sep 12, 2026 | 64 | $11.0M of $55.0M | Nov 22, 2023 |
| L•••• C•••••• R•• I• L•• | Fund | 2023 form d first sale | Active deployment | $29.2M Sep 12, 2026 | 81 | $21.4M of $75.0M | Mar 9, 2023 |
| L•••• C•••••• S•• I•• L•• | Fund | 2022 form d first sale | Active deployment | $112M Sep 12, 2026 | 110 | $71.1M of $120M | Mar 10, 2022 |
| L•••• C•••••• W••••• L•• | Fund | 2022 form d first sale | Active deployment | $34.2M Sep 12, 2026 | 16 | $6.9M of $20.0M | Mar 10, 2022 |
| L•••• C•••••• V•••••• L•• | Fund | 2022 form d first sale | Active deployment | $29.9M Sep 12, 2026 | 61 | $19.6M of $25.0M | Oct 20, 2022 |
| L•••• C•••••• F••• I• L• | Fund | 2021 form d first sale | Mature | $710M Sep 12, 2026 | 561 | $551M of $600M | Mar 10, 2022 |
| L••••••• C•••••• S•• L•• | Fund | 2020 form d first sale | Mature | $124M Sep 12, 2026 | 32 | $40.8M of $40.8M | May 15, 2020 |
| L•••• C•••••• C• V•• L•• | Fund | 2020 form d first sale | Mature | $143,873 Sep 12, 2026 | 236 | $58.5M of $70.0M | Aug 19, 2020 |
| L•••• C•••••• R•• L•• | Fund | 2017 form d first sale | Harvest | $48.2M Sep 12, 2026 | 44 | $8.0M of $8.0M | Mar 8, 2018 |
| L•••• I••••••• L• | Fund | unknown | Unknown | $43.9M Sep 12, 2026 | 56 | $0 of $50.0M | Dec 10, 2024 |
| L•••• C•••••• C• V• L•• | Fund | unknown | Unknown | $160,541 Sep 12, 2026 | 229 | $0 of $65.0M | Nov 9, 2018 |
Stated thesis versus observed behaviour
no observed deals yet
Stated (the firm’s website)
- Sectors
- not stated or not yet read
- Stages
- not stated or not yet read
- Geography
- not stated
- 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 no observed dealsfollow-on rate no observed dealsnew logos, 12 months 0
Limited partners
0 LPs, 0 disclosed commitments
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
16 dated events
- Sep 12, 2026••• Locked
- Sep 12, 2026••• Locked
- Sep 12, 2026••• Locked
- Sep 12, 2026••• Locked
- Sep 12, 2026••• Locked
Full timeline · 16 eventsnewest first; portfolio-page removals last
- Sep 12, 2026••• Locked
- Sep 12, 2026••• Locked
- Sep 12, 2026••• Locked
- Sep 12, 2026••• Locked
- Sep 12, 2026••• Locked
- Sep 12, 2026••• Locked
- Sep 12, 2026••• Locked
- Sep 12, 2026••• Locked
- Sep 12, 2026••• Locked
- Sep 12, 2026••• Locked
- Jul 30, 2026••• Locked
- Jul 30, 2026••• Locked
- Jul 30, 2026••• Locked
- Jul 30, 2026••• Locked
- Jul 30, 2026••• Locked
- Feb 15, 2018••• Locked
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Jul 30, 2026 · 18 private fundsShowHide
- Headquarters
- San Juan, PRadviserinfo.sec.gov
- Office address
- ••• Lockedadviserinfo.sec.gov
- Business phone
- ••• Lockedadviserinfo.sec.gov
- Website
- unknown
- SEC adviser type
- Registered investment adviseradviserinfo.sec.gov
- SEC exemption claimed
- unknown
- Latest Form ADV
- Jul 30, 2026
- Private funds reported
- 18 (5 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $1.7Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Regulatory AUM
- $1.7Bthe adviser's RAUM, a regulatory measure, never a fund size
- Employees
- 5
Classification history
Every classification this record has carried2 on recordShowHide
- Sep 23, 2026Private equity with venture activity (probable, 75%)Registered adviser; venture funds are 19% of 18 private funds
- Sep 12, 2026Private equity with venture activity (probable, 75%)Registered adviser; venture funds are 28% of 18 private funds
Evidence
25 observations from 2 sources
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| Why admitted | VC funds reported | Jul 30, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | Jul 30, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | Jul 30, 2026 | Fact | Form ADV |
| First Form ADV filing | 2017-07-25 | Jul 30, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-21 | Sep 23, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-07-30 | Jul 30, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-07-30 | Jul 30, 2026 | Fact | Form ADV |
| Adv pdf loaded | adv-pdf-1 | Sep 12, 2026 | Fact | Form ADV |
| SEC status | Approved | Jul 30, 2026 | Fact | Form ADV |
| SEC status effective | 2018-02-15 | Jul 30, 2026 | Fact | Form ADV |
| Venture share of reported funds | 0 | Jul 30, 2026 | Fact | Form ADV |
| Business phone | ••• Locked | Jul 30, 2026 | Fact | Form ADV |
| Employees | 5 | Jul 30, 2026 | Fact | Form ADV |
| Headquarters | San Juan, PR | Jul 30, 2026 | Fact | Form ADV |
| Office address | ••• Locked | Jul 30, 2026 | Fact | Form ADV |
| Legal form | Limited Liability Company | Jul 30, 2026 | Fact | Form ADV |
| PE funds reported | 13 | Jul 30, 2026 | Fact | Form ADV |
| Private funds reported | 18 | Jul 30, 2026 | Fact | Form ADV |
| Private funds reported | 18 | Jul 30, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $1.7B | Jul 30, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $1.7B | Jul 30, 2026 | Fact | Form ADV |
| Regulatory AUM (adviser, not fund size) | $1.7B | Jul 30, 2026 | Fact | Form ADV |
| Venture funds reported | 5 | Jul 30, 2026 | Fact | Form ADV |
| Venture funds reported | 5 | Jul 30, 2026 | Fact | Form ADV |
Not yet on record: new companies, 12 mo.