Ethereal Ventures Management Ltd.
Ethereal supports founders redefining the future.
In the firm's own words, from its website.
2 additional investments, funds and LPs, 1 verified contact (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.
Nothing material in the last 180 days. Last change: 1 Aug 2025, $41.3M reported sold so far.
People to know
View all people- Director And Member Of Carbon Spv Gp, LlcWhy: Named with investment responsibilityNo route on file yet
- Member Of Ethereal Ventures I Partners L.P.Why: Named with investment responsibilityNo route on file yet
Relationship network
7 connected entities
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.
- 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 Ethereal Ventures Management Ltd.: 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 Ethereal Ventures Management Ltd.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
0 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.Stated thesis versus observed behaviour
- Sectors
- space, crypto
- Stages
- seed, early
- Geography
- global, globally
- Check size
- not stated; DFX does not estimate checks from round sizes
Team
2 current, 0 departed
Decision makers
- Hui Min Teo · Director And Member Of Carbon Spv Gp, LlcWhy this person: Named with investment responsibility
- Joseph Lubin · Member Of Ethereal Ventures I Partners L.P.Why this person: 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 Of Ethereal Ventures I Partners L.P.
- Director And Member Of Carbon Spv Gp, Llc
Contacts
1 firm phone on record, each with its source. Values open with the complete profile.
Funds and LPs
5 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 |
|---|---|---|---|---|---|---|---|
| Ethereal Ventures Fund II L.P. | Fund | 2024 form d first sale | Fundraising | unknown | unknown | $27.9M | Aug 1, 2025 |
| Ethereal Ventures II Feeder L.P. | Feeder or parallel | 2024 form d first sale | Fundraising | unknown | unknown | $13.4M | Aug 1, 2025 |
| Ethereal Ventures Fund I L.P. | Fund · ADV: Private Equity Fund | unknown | Unknown | $92.3M Mar 23, 2026 | 148 | $0 of $75.0M | May 11, 2021 |
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.Relationships across DFX
0 co-investors · on 1 other DFX graph
Co-investors
Across DFX and the capital chainon 1 other DFX graph ShowHide
- The same institution is held on Private Equity, matched by identifier. See which records
Ethereal Ventures Management Ltd. is the same institution as 1 record in Private Equity.
The joined record opens with the product, beside every other relationship on this page.
Checking your plan…
Evidence and history
4 dated events, 43 observations from 3 sources
Timeline
- Jul 28, 2022Ethereal Ventures Management Ltd. first filed Form ADV (ERA)
- Jul 28, 2022Ethereal Ventures Fund I L.P. first reported on Form ADV by Ethereal Ventures Management Ltd. (Venture Capital Fund), GAV $98,264,000
- Jul 28, 2022Ethereal Ventures I Feeder L.P. first reported on Form ADV by Ethereal Ventures Management Ltd. (Venture Capital Fund), GAV $13,492,000
- Jul 28, 2022Carbon Spv, LP first reported on Form ADV by Ethereal Ventures Management Ltd. (Venture Capital Fund), GAV $2,000,000
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 23, 2026 · 5 private fundsShowHide
- Headquarters
- Road Town, Tortola, British Virgin Islandsadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- etherealventures.com
- SEC adviser type
- Exempt reporting adviseradviserinfo.sec.gov
- SEC exemption claimed
- Private fund adviseradviserinfo.sec.gov
- Latest Form ADV
- Mar 23, 2026
- Private funds reported
- 5 (0 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets, adviser total
- $202Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- Little Bay Directors Limited (Director Of Ethereal Ventures Management Ltd), owns under 5%; Ethereal Ventures I GP Ltd (General Partner Of Ethereal Ventures I Partners L.P.), owns under 5%
Classification history
Classification history
Every classification this record has carried1 on recordShowHide
- Sep 12, 2026Candidate (candidate, 50%)No sworn venture fact yet (name or round mention only)
Evidence
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| SEC exemption claimed | Private fund adviser | Aug 23, 2024 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 23, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Aug 23, 2024 | Fact | Form ADV |
| First Form ADV filing | 2022-07-28 | Mar 23, 2026 | Fact | Form ADV |
| First Form ADV filing | 2022-07-28 | Aug 23, 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 | 2026-03-23 | Mar 23, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2024-08-23 | Aug 23, 2024 | Fact | Form ADV |
| Venture share of reported funds | 0 | Mar 23, 2026 | Fact | Form ADV |
| Venture share of reported funds | 0 | Aug 23, 2024 | Fact | Form ADV |
| Business phone | Aug 23, 2024 | Fact | Form ADV | |
| Description | Sep 16, 2026 | Fact | ||
| Description | Sep 14, 2026 | Fact | ||
| Headquarters | Road Town, Tortola, British Virgin Islands | Aug 23, 2024 | Fact | Form ADV |
| Office address | Aug 23, 2024 | Fact | Form ADV | |
| Legal form | Other (specify) | Aug 23, 2024 | Fact | Form ADV |
| Private funds reported | 5 | Mar 23, 2026 | Fact | Form ADV |
| Private funds reported | 4 | Aug 23, 2024 | Fact | Form ADV |
| Private fund gross assets (reported) | $202M | Mar 23, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $192M | Aug 23, 2024 | Fact | Form ADV |
| Stated geography | Global, globally “geography words on the home page” | Sep 16, 2026 | Fact | |
| Stated geography | Global, globally “geography words on the home page” | Sep 14, 2026 | Fact | |
| Stated sectors | Space, crypto “sector words on the home page” | Sep 16, 2026 | Fact | |
| Stated sectors | Space, crypto “sector words on the home page” | Sep 14, 2026 | Fact | |
| Stated stages | Seed, early “stage words on the home page” | Sep 16, 2026 | Fact | |
| Stated stages | Seed, early “stage words on the home page” | Sep 14, 2026 | Fact | |
| Venture funds reported | 0 | Mar 23, 2026 | Fact | Form ADV |
| Venture funds reported | 0 | Aug 23, 2024 | Fact | Form ADV |
| Website | Sep 12, 2026 | Fact | Form ADV | |
| Website | Aug 23, 2024 | Fact | Form ADV | |
| Website | Aug 23, 2024 | Fact | Form ADV | |
| Site title | Sep 16, 2026 | Fact | ||
| Site title | Sep 14, 2026 | Fact |
How this is scored
Scores, classification basis and filing advisersCandidate, candidateShowHide
No sworn venture fact yet (name or round mention only)
- importance
- gav: 0 · funds: 0.17 · people: 0.08 · investments: 0 · scale basis: Venture-typed funds only (Candidate): 2 funds, $0M of $143M reported · co investors: 0
- active deployment
- investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: not scored
- emerging manager
- fund count: 5 · reported gav: $143M · first adv filing: 2022-07-28 · years since first filing: 4.2
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Record history
- Adviser's first ADV filing2022-07-28source on record
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.
Not yet on record: new companies, 12 mo.