Blue Forest Asset Management
Blue Forest is a non-profit conservation finance organization, restoring and protecting our forests, watersheds, ecosystems, and communities.
In the firm's own words, from its website.
55 additional team members, 42 verified contacts (41 professional url, 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
- 1 vehiclenew on Form ADV, 12 months
California Wildfire Innovation Fund I was first reported on Form ADV on 12 Sep 2026.
A vehicle reported for the first time is a new fund in the adviser's own filing.
People to know
View all people- Partner and Co-founder Encourage CapitalWhy: Founder of the firmNo route on file yet
- Senior Project Development ManagerWhy: Named with investment responsibilityProfile
- Senior Manager of DevelopmentWhy: Named with investment responsibilityProfile
Relationship network
59 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 Blue Forest Asset Management: 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 Blue Forest Asset Management
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
- climate, media
- Stages
- not stated or not yet read
- Geography
- not stated
- Check size
- not stated; DFX does not estimate checks from round sizes
Team
57 current, 1 departed
Decision makers
- Ricardo Bayon · Partner and Co-founder Encourage CapitalWhy this person: Founder of the firm; Named with investment responsibility
- Amber Moore · Senior Project Development ManagerWhy this person: Named with investment responsibilityLinkedIn or profile link on file (firm website), confirmed 2026-10-01, confidence 90%
- Ben Steele · Senior Manager of DevelopmentWhy this person: Named with investment responsibilityLinkedIn or profile link on file (firm website), confirmed 2026-10-01, confidence 90%
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. 2 with a route on file. 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.- Partner and Co-founder Encourage Capital
- Senior Project Development Manager
- Senior Manager of Development
Contacts
1 firm phone, 41 professional url on record, each with its source. Values open with the complete profile.
Funds and LPs
1 vehicle, 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 |
|---|---|---|---|---|---|---|---|
| California Wildfire Innovation Fund I, L.P. | Fund | 2023 form d first sale | Active deployment | $50.5M Sep 12, 2026 | 2 | $25.0M of $60.0M | Mar 23, 2023 |
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
Co-investors
Evidence and history
3 dated events, 24 observations from 3 sources
Timeline
- seen on or beforeSep 12, 2026Blue Forest Asset Management: INSTITUTIONAL_VC -> CORPORATE_VENTURE (corporate parent: Blue Forest Finance Inc.)Classification changedClassificationInference
- Sep 12, 2026California Wildfire Innovation Fund I, L.P. first reported on Form ADV by Blue Forest Asset Management, GAV $50,505,051
- Oct 10, 2025Blue Forest Asset Management appears on the SEC adviser roster (ERA, venture capital fund adviser exemption)
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 16, 2026 · 1 private fundsShowHide
- Headquarters
- Sacramento, CAadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- 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 16, 2026
- Private funds reported
- 1 (1 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets, adviser total
- $50.5Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- Blue Forest Finance Inc. (Sole Member), owns 75% or more
Classification history
Classification history
Every classification this record has carried2 on recordShowHide
- Sep 13, 2026Corporate venture (confirmed, 95%)
- 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 16, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Mar 16, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 16, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-03-16 | Mar 16, 2026 | Fact | Form ADV |
| Adv pdf loaded | adv-pdf-1 | Sep 12, 2026 | Fact | Form ADV |
| SEC status | ERA - Active | Mar 16, 2026 | Fact | Form ADV |
| SEC status effective | 2025-10-10 | Mar 16, 2026 | Fact | Form ADV |
| Business phone | Mar 16, 2026 | Fact | Form ADV | |
| Contact page url | Sep 30, 2026 | Fact | ||
| Contact page url | Sep 16, 2026 | Fact | ||
| Description | Sep 30, 2026 | Fact | ||
| Description | Sep 16, 2026 | Fact | ||
| Description | Sep 14, 2026 | Fact | ||
| Headquarters | Sacramento, CA | Mar 16, 2026 | Fact | Form ADV |
| Office address | Mar 16, 2026 | Fact | Form ADV | |
| Legal form | Limited Liability Company | Mar 16, 2026 | Fact | Form ADV |
| Private funds reported | 1 | Mar 16, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $50.5M | Mar 16, 2026 | Fact | Form ADV |
| Stated sectors | Climate, media “sector words on the home page” | Sep 30, 2026 | Fact | |
| Stated sectors | Climate, media “sector words on the home page” | Sep 16, 2026 | Fact | |
| Stated sectors | Climate, media “sector words on the home page” | Sep 14, 2026 | Fact | |
| Team page | Sep 30, 2026 | Fact | ||
| Team page | Sep 16, 2026 | Fact | ||
| Team page | Sep 14, 2026 | Fact | ||
| Venture funds reported | 1 | Mar 16, 2026 | Fact | Form ADV |
| Website | Mar 16, 2026 | Fact | Form ADV | |
| Site title | Sep 30, 2026 | Fact | ||
| Site title | Sep 16, 2026 | Fact | ||
| Site title | Sep 14, 2026 | Fact |
How this is scored
Scores, classification basis and filing advisersCorporate venture, confirmedShowHide
Corporate parent: Blue Forest Finance Inc.
- importance
- gav: 0.21 · funds: 0.08 · people: 1 · investments: 0 · 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: 1 · reported gav: $50.5M · first adv filing: 2025-10-10 · years since first filing: 1
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Record history
- Organization classification changed2026-09-12
- Adviser's first ADV filing2025-10-10source 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.