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 / Stage 1 Managers LLC
Stage 1 Managers LLC
name or self-description says seed
Importance
37
elevated
Active deployment
55
elevated
Emerging
0
low
Completeness
63
high
Freshness
100
high
Research priority
21
moderate
Identity and regulatory footprint
- Headquarters
- unknown
- Office address
- unknown
- Business phone
- (781) 752-5240adviserinfo.sec.gov
- Website
- HTTPS://STAGE1VENTURES.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 25, 2026
- Private funds reported
- 11 (11 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $181Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business email
- info@stage1ventures.comstage1ventures.compublished by the subject
- business phone
- (781) 752-5240adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
52 observed deals
Stated (the firm’s website)
- Sectors
- ai, enterprise software, biotech, climate, deep tech, space, industrial, media
- Stages
- seed, growth, early, multi stage
- Geography
- global, united states
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- seed
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
unknown 92%Other Technology 6%Other 2%
lead rate n/afollow-on rate n/anew logos, 12 months 52
Funds and vehicles
7 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Stage 1 Growth Fund LLC (series Wave) | Growth fund | 2024 adv first reported | Early deployment | $15.0M Mar 27, 2024 | 24 | unknown | unknown |
| Stage 1 Growth Fund (series Trender) | Growth fund | 2023 adv first reported | Active deployment | $1.6M Mar 27, 2024 | 12 | unknown | unknown |
| Stage 1 Growth Fund LLC (series Invaio) | Growth fund | 2022 adv first reported | Active deployment | $27.0M Mar 27, 2024 | 59 | unknown | unknown |
| Stage 1 Growth Fund LLC (series Aliaswire) | Growth fund | 2022 adv first reported | Active deployment | $9.0M Mar 27, 2024 | 64 | unknown | unknown |
| Series 1 Growth Fund (series Aiscout) | Growth fund | 2022 adv first reported | Active deployment | $3.6M Mar 27, 2024 | 10 | unknown | unknown |
| Stage 1 Growth Fund LLC | Growth fund | unknown | Unknown | $122M Mar 27, 2024 | 75 | unknown | unknown |
| Stage 1 Growth Fund LLC (series Talkmap) | Growth fund | unknown | Unknown | $4.5M Mar 27, 2024 | 10 | unknown | unknown |
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
20 current, 0 departed
David Mathews
Board or advisoryAdvisor | Dallas
Jim Walsh
Board or advisoryAdvisor | Palo Alto
John Hartnett
Board or advisoryAdvisor | Los Gatos
John Sheehan
Board or advisoryAdvisor | Ft Worth
Larry Paulson
Board or advisoryAdvisor | San Diego
Lawrence King
Board or advisoryAdvisor | Dallas
Mark Leidy
Board or advisoryAdvisor | St. Louis
Michael Baum
Board or advisoryAdvisor | San Francisco
Mike Courtney
Board or advisoryAdvisor | Dallas
Ralph Rodriguez
Board or advisoryAdvisor | Naples
Rod Randall
Board or advisorySpecial Advisor | Boston
Susan Major
Board or advisoryAdvisor | San Diego
Alfonso Carrillo
Operating partnerOperating Partner | Miami
Joseph Pianelli
Operating partnerOperating Partner | Dallas
Les Yetton
Operating partnerOperating Partner | Boston
Michael Frank
Operating partnerOperating Partner | Boston
Scott Carmel
Operating partnerOperating Partner | Miami
David Baum
PartnerManaging Director | Miami
David W. Baum
PartnerManaging Director · since Aug 1, 2008
Jonathan Gordon
PartnerManaging Director | Tampa
Investments on record
52 edges, 52 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
21 relationships from shared deals, counted for the whole firm
FM Capital 1 shared · one timeBullpen Management, LLC 1 shared · one timeSanofi 1 shared · one timeSapphire Ventures, LLC 1 shared · one timeOmega Fund Management, LLC 1 shared · one timeParadigm Operations LP 1 shared · one timeBuckhill Capital LP 1 shared · one timeParade Ventures Management, LLC 1 shared · one timeDiversis Capital 1 shared · one timeKickstart Capital, LLC 1 shared · one timeFGC Management Co., LLC 1 shared · one timeSeraphim Space Manager LLP 1 shared · one timeRocketship.vc, LLC 1 shared · one timeMXV Capital, LLC 1 shared · one timeSigma Partners 1 shared · one timeG Squared Equity LLC 1 shared · one timeBalerion Space Ventures 1 shared · one timeEclipse Ventures, LLC 1 shared · one timeMaterial Impact Management, LLC 1 shared · one timeChampion Hill Labs, LLC 1 shared · one timeEthos Manager LLC 1 shared · one time
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
10 dated events
- Sep 16, 2026Mailmodo ACQUIRED Marketing Bengaluru no longer listed on Stage 1 Managers LLC's portfolio pageRemoved from portfolio pagePortfolioInferenceMailmodo ACQUIRED Marketing BengaluruVenture organization websites (about, team, portfolio, thesis, news pages)
- Sep 15, 2026Stage 1 Managers LLC: GROWTH_INVESTOR -> SEED_FUND_MANAGER (name or self-description says seed)Classification changedClassificationInferenceno URL
- Mar 27, 2024Stage 1 Growth Fund LLC (series Wave) first reported on Form ADV by Stage 1 Managers LLC (Venture Capital Fund), GAV $15,000,000Fund first reported on Form ADVFundsFactStage 1 Growth Fund LLC (series Wave)SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2023Stage 1 Growth Fund (series Trender) first reported on Form ADV by Stage 1 Managers LLC (Venture Capital Fund), GAV $1,050,000Fund first reported on Form ADVFundsFactStage 1 Growth Fund (series Trender)SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 7, 2022Stage 1 Growth Fund LLC (series Aliaswire) first reported on Form ADV by Stage 1 Managers LLC (Venture Capital Fund), GAV $9,000,000Fund first reported on Form ADVFundsFactStage 1 Growth Fund LLC (series Aliaswire)SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 7, 2022Stage 1 Growth Fund LLC (series Invaio) first reported on Form ADV by Stage 1 Managers LLC (Venture Capital Fund), GAV $26,000,000Fund first reported on Form ADVFundsFactStage 1 Growth Fund LLC (series Invaio)SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 7, 2022Series 1 Growth Fund (series Aiscout) first reported on Form ADV by Stage 1 Managers LLC (Venture Capital Fund), GAV $2,300,000Fund first reported on Form ADVFundsFactSeries 1 Growth Fund (series Aiscout)SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 27, 2021Stage 1 Managers 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)
- Apr 27, 2021Stage 1 Growth Fund LLC (series Talkmap) first reported on Form ADV by Stage 1 Managers LLC (Venture Capital Fund), GAV $4,500,000Fund first reported on Form ADVFundsFactStage 1 Growth Fund LLC (series Talkmap)SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 27, 2021Stage 1 Growth Fund LLC first reported on Form ADV by Stage 1 Managers LLC (Venture Capital Fund), GAV $119,680,000Fund first reported on Form ADVFundsFactStage 1 Growth Fund LLCSEC 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 (confirmed, 95%, cls-1)name or self-description says seed
- Sep 12, 2026Growth investor (confirmed, 95%, cls-1)growth or late-stage vehicles only
- Sep 12, 2026Growth investor (probable, 80%, cls-1)growth or late-stage vehicles only
Evidence
43 observations from 3 sources