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.
Firms / Watertower Ventures Management, LLC
Watertower Ventures Management, LLC
Seed fund manager · probableBeverly Hills, CAwatertowerventures.comSEC exempt reporting adviserfundraising evidence
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name or self-description says seed
Importance
20
moderate
Active deployment
65
high
Emerging
0
low
Completeness
69
high
Freshness
100
high
Research priority
19
moderate
Identity and regulatory footprint
- Headquarters
- Beverly Hills, CAadviserinfo.sec.gov
- Office address
- 8383 WILSHIRE BLVD, SUITE 815, Beverly Hills, CA, 90211adviserinfo.sec.gov
- Business phone
- 310-701-3111adviserinfo.sec.gov
- SEC adviser type
- exempt reporting adviseradviserinfo.sec.gov
- SEC exemption claimed
- private fund adviseradviserinfo.sec.gov
- Latest Form ADV
- Feb 27, 2026
- Private funds reported
- 1 (1 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $50.9Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business phone
- 310-701-3111adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
10 observed deals
Stated (the firm’s website)
- Sectors
- ai, enterprise software, consumer, media
- Stages
- pre seed, seed, series a
- Geography
- los angeles, new york
- Check size
- $500,000 to $2.0M stated by the firm
- Self-described
- seed
“We lead and co-lead pre-seed and seed rounds with initial check size from $500K - $2MM and allocate up to $5MM per investment.”
Observed (from deals on record)
Stage at participation
seed 100%
Stage at first entry
seed 100%
Sectors
unknown 100%
lead rate 100%follow-on rate 0%new logos, 12 months 9
Funds and vehicles
2 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Watertower Ventures Early Access Fund II | Fund | unknown | Unknown | $50.9M Mar 21, 2024 | 46 | $0 of $50.0M | Jul 30, 2020 |
| Watertower Ventures Early Access Fund III, L.P. | Fund | unknown | Fundraising | unknown | unknown | $0 of $100M | Dec 11, 2025 |
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
5 current, 0 departed
Derek Norton
General partnerGeneral Partner
Jeremy Milken
General partnerGeneral Partner
Derek Lee Norton
Managing partnerManaging General Partner · since Jul 1, 2020
Idan Levy
PartnerPartner
Caro Scalercio
Venture partnerVenture Partner
Investments on record
10 edges, 10 companies, 0 partner-attributed
“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.
Co-investors
1 relationships from shared deals, counted for the whole firm
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
3 dated events
- Sep 15, 2026Watertower Ventures Management, LLC: INSTITUTIONAL_VC -> SEED_FUND_MANAGER (name or self-description says seed)Classification changedClassificationInferenceno URL
- Feb 9, 2021Watertower Ventures Management, LLC first filed Form ADV (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Feb 9, 2021Watertower Ventures Early Access Fund II first reported on Form ADV by Watertower Ventures Management, LLC (Venture Capital Fund), GAV $42,000,000Fund first reported on Form ADVFundsFactWatertower Ventures Early Access Fund IISEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 15, 2026Seed fund manager (probable, 80%, cls-1)name or self-description says seed
- Sep 12, 2026Institutional venture firm (probable, 80%, cls-1)venture manager, reported GAV $51M across 1 vehicles
Evidence
53 observations from 3 sources