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 / Section 32, LLC
Section 32, LLC
Institutional venture firmPalo Alto, CAsection32.comSEC venture capital fund adviserfundraising evidence
For obsessive founders building iconic companies.
venture manager, reported GAV $1,921M across 6 vehicles
Importance
38
elevated
Active deployment
64
high
Emerging
0
low
Completeness
69
high
Freshness
100
high
Research priority
22
moderate
Identity and regulatory footprint
- Headquarters
- Palo Alto, CAadviserinfo.sec.gov
- Office address
- 169 UNIVERSITY AVE., Palo Alto, CA, 94301adviserinfo.sec.gov
- Business phone
- 650-297-0722adviserinfo.sec.gov
- Website
- HTTP://WWW.SECTION32.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 31, 2026
- Private funds reported
- 6 (6 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $2.5Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- William J. Maris, Trustee of the Little Door Trust, Dated December 15, 2021 (Assignee), E
- business phone
- 650-297-0722adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
1 observed deals
Stated (the firm’s website)
- Sectors
- ai, enterprise software, cybersecurity
- Stages
- not stated or not yet read
- Geography
- not stated
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- venture capital
Observed (from deals on record)
Stage at participation
series c 100%
Stage at first entry
series c 100%
Sectors
unknown 100%
lead rate 0%follow-on rate 0%new logos, 12 months 1
Funds and vehicles
6 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| S32 Fund 6, LP | Fund | 2025 form d first sale | Fundraising | unknown | unknown | $414M of $600M | Sep 2, 2025 |
| Section 32 Fund 4, LP | Fund | 2022 adv first reported | Active deployment | $747M Mar 21, 2024 | 149 | $0 of $700M | Jul 29, 2021 |
| Section 32 Fund 5, LP | Fund | 2022 form d first sale | Active deployment | $506M Mar 21, 2024 | 130 | $481M of $500M | Jul 13, 2023 |
| Section 32 Fund 3, LP | Fund | 2021 adv first reported | Mature | $346M Mar 21, 2024 | 78 | $0 of $350M | Apr 14, 2020 |
| Section 32 Fund 2, LP | Fund | 2018 form d first sale | Harvest | $218M Mar 21, 2024 | 52 | $199M of $300M | Feb 22, 2019 |
| Section 32 Fund 1, LP | Fund | 2017 form d first sale | Harvest | $103M Mar 21, 2024 | 41 | $151M of $151M | May 23, 2017 |
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
29 current, 3 departed
William Maris
Board or advisoryTrustee Of The Little Door Trust, Dated December 15, 2021 · since Dec 1, 2021
Robert Andrew Harrison
Founder or executiveCeo · since Sep 1, 2023
Robert Andrew Harrison
Founder or executiveCeo · since Sep 1, 2023
Andrew Conrad
General partnerGeneral Partner
Andy Harrison
General partnerGeneral Partner, CEO
Bill Maris
General partnerGeneral Partner, Founder
Mike Pellini
General partnerGeneral Partner
Allison Pavlick
Investor relationsInvestor Relations Principal
Nick Smith
Investor relationsChief Investor Relations Officer
Alice Cheung
Operating partnerPartner, Talent
Kimberly Shih
Operating partnerPartner, Talent
Bayan Alizadeh
PartnerPartner
Derrick Chow
PartnerPartner
Kenzo Fong
PartnerPartner, Product
Wesley Tillu
PartnerPartner
William Maris
PartnerMember · since Mar 1, 2017
Celine Le
Platform and operationsOperations
Evalynne Dacayanan
Platform and operationsOperations
Isabelle Ruddy
Platform and operationsAccounting Manager
Jennie Chan
Platform and operationsController
Linda Boorman
Platform and operationsOperations
Nina Carelli Labatt
Platform and operationsCoo & Cfo · since Sep 1, 2021
Nina Carelli Labatt
Platform and operationsCoo & Cfo · since Sep 1, 2021
Nina Labatt
Platform and operationsChief Financial Officer & Chief Operating Officer
Olivia Lu
Platform and operationsAssistant Controller
Robyn Villaro
Platform and operationsOperations
Tom Zhang
Platform and operationsHead of Data
Ayesha Arora
Venture partnerVenture Partner
Tane Kim
Venture partnerVenture Partner
3 departed (kept with end dates)
- Tristan Prettyman Maris · Trustee Of William J. Maris And Tristan Prettyman Maris, Co-Trustees Of The Little Door Trust, Dated July 16, 2014 · Jul 1, 2014 to Mar 29, 2019 Inference
- Jennifer Kercher · Chief Operating Officer · Aug 1, 2017 to Jan 5, 2022 Inference
- Jonathan Faerber · Chief Financial Officer · Apr 1, 2018 to Jan 5, 2022 Inference
Investments on record
1 edges, 1 companies, 0 partner-attributed
| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| Aspen Neuroscience | Series C · Series C | participant | unknown | $115M | unknown | Nov 20, 2025 | Fact Press release wires (Business Wire, PR Newswire, GlobeNewswire public RSS) |
“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
7 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
13 dated events
- Sep 1, 2023Robert Andrew Harrison joined Schedule A of Section 32, LLC as Ceo
- Mar 29, 2023Section 32 Fund 5, LP first reported on Form ADV by Section 32, LLC (Venture Capital Fund), GAV $441,047,921Fund first reported on Form ADVFundsFactSection 32 Fund 5, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jan 5, 2022Section 32 Fund 4, LP first reported on Form ADV by Section 32, LLC (Venture Capital Fund), GAV $633,186,178Fund first reported on Form ADVFundsFactSection 32 Fund 4, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jan 5, 2022Jonathan Faerber (Chief Financial Officer) no longer on Schedule A of Section 32, LLC
- Jan 5, 2022Jennifer Kercher (Chief Operating Officer) no longer on Schedule A of Section 32, LLC
- Sep 1, 2021Nina Carelli Labatt joined Schedule A of Section 32, LLC as Coo & Cfo
- Mar 30, 2021Section 32 Fund 3, LP first reported on Form ADV by Section 32, LLC (Venture Capital Fund), GAV $286,472,921Fund first reported on Form ADVFundsFactSection 32 Fund 3, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2019Tristan Prettyman Maris (Trustee Of William J. Maris And Tristan Prettyman Maris, Co-Trustees Of The Little Door Trust, Dated July 16, 2014) no longer on Schedule A of Section 32, LLC
- Apr 1, 2018Jonathan Faerber joined Schedule A of Section 32, LLC as Chief Financial Officer
- Mar 30, 2018Section 32 Fund 2, LP first reported on Form ADV by Section 32, LLC (Venture Capital Fund), GAV $189,617,957Fund first reported on Form ADVFundsFactSection 32 Fund 2, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Aug 1, 2017Jennifer Kercher joined Schedule A of Section 32, LLC as Chief Operating Officer
- Jun 29, 2017Section 32, 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)
- Jun 29, 2017Section 32 Fund 1, LP first reported on Form ADV by Section 32, LLC (Venture Capital Fund), GAV $159,750,000Fund first reported on Form ADVFundsFactSection 32 Fund 1, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $1,921M across 6 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $1,921M across 5 vehicles
Evidence
54 observations from 4 sources