Encap Etf Management, LLC

Institutional venture firmpart of EnCap InvestmentsSEC venture capital fund adviser· Houston, Texasencapinvestments.com

Institutional venture firm, based in Houston, Texas, reporting $1.5B of fund assets across 4 funds.

Composed from this organization's classification, location and filed figures.

Reported fund assets
$1.5B
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
None
Investment team
59
Latest vintage
2025
More
Ask DFX about thisView relationshipsFind contactsInvestments (10)Team (76)Funds
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

6 additional co-investors and affiliates, 12 additional investments, funds and LPs, 1 event, 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.

What matters now

  1. 9 vehicles
    on Form D, 18 months

    $11M reported sold so far.

    A Form D is filed when a vehicle takes its first money, so these are open to LPs now.

    FactSEC Form D filingsFor LPs, fund-of-funds, placement agentsVehicles →

Relationship network

16 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.

Reading the network
  • Sponsor
  • Fund or vehicle
  • Person

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.

How am I connected?

Name your firm, a company or a person, and DFX finds the published routes to Encap Etf Management, LLC: 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 Encap Etf Management, LLC

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Investing

10 companies on record, 0 new in 12 months
Investments on record
10 companies, 0 partner-attributed
No investment on record yet. Edges arrive from the firm’s portfolio page, financing announcements, and Form D board seats.
Stated thesis versus observed behaviour
no observed deals yet
Stated (the firm’s website)
Sectors
not stated or not yet read
Stages
not stated or not yet read
Geography
not stated
Check size
not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors: no observed deals yet
lead rate no observed dealsfollow-on rate no observed dealsnew companies, 12 months 0

Team

76 current, 3 departed
Investment team
76 current, 3 departed
Contacts
1 firm phone

1 firm phone on record, each with its source. Values open with the complete profile.

Funds and LPs

15 vehicles, 0 LPs disclosed
Funds and vehicles
15 reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
EnCap Linea Co-Invest, L.P.SPV or co-invest vehicle2025 form d first saleFundraisingunknownunknown$11.0MAug 12, 2025
EnCap Energy Capital Fund XII-B, L.P.Feeder or parallel2023 form d first saleActive deploymentunknownunknown$61.7MApr 18, 2024
Encap Energy Transition Fund Ii-C, L.P.Fund2022 form d first saleActive deployment$275M
Mar 30, 2026
30$100MAug 31, 2023
Limited partners
0 LPs, 0 disclosed commitments
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.
Known LPs and allocators
2 relationships across the firm's funds, from public pensions and the allocator graph
AllocatorTypeFundAmountDateSource
Arkansas Teacher Retirement PlanSTATE RETIREMENT SYSTEMEncap Energy Transition Fund Ii-E, L.P.$50.0M
committed
reported as of Dec 31, 2025Fact Pension disclosure
Peter G Peterson FoundationFOUNDATIONEnCap Energy Capital Fund XII-B, L.P.$5.0M
fair value on the foundation's return
reported as of Mar 31, 2025Fact IRS Form 990 / 990-PF e-file returns

Relationships across DFX

1 co-investors · on 1 other DFX graph
Co-investors
1 counted from shared deals, for the whole firm
Across DFX and the capital chainon 1 other DFX graph · 1 capital path Show
Across DFX
  • The same institution is held on RIA and Wealth, matched by identifier. See which records
Across the graphs

Encap Etf Management, LLC is the same institution as 1 record in RIA and Wealth.

RIA and Wealth1

The joined record opens with the product, beside every other relationship on this page.

Checking your plan…

Capital chain

Encap Etf Management, LLC sits on 1 traced path of capital across the graphs.

Allocator commitments to a manager

DFX traced 1 path of capital through this record

Every record on each path, what it committed or lent, and as of when.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.

Checking your plan…

Evidence and history

6 dated events, 59 observations from 3 sources
Timeline
6 dated events
  1. Aug 31, 2023
    EnCap Energy Transition Fund II-E, L.P. filed Form D/A: $512,590,000 sold (indefinite offering), Venture Capital Fund
    Form D filedFundraisingFactForm D
  2. Mar 29, 2023
    Encap Etf Management, LLC first filed Form ADV (ERA, venture capital fund adviser exemption)
    First SEC adviser filingOrganizationFactForm ADV
  3. Mar 29, 2023
    Encap Energy Transition Fund Ii-B, L.P. first reported on Form ADV by Encap Etf Management, LLC (Venture Capital Fund), GAV $78,140,524
    Fund first reported on Form ADVFundsFactEncap Energy Transition Fund Ii-B, L.P.Form ADV
  4. Mar 29, 2023
    Encap Energy Transition Fund Ii-C, L.P. first reported on Form ADV by Encap Etf Management, LLC (Venture Capital Fund), GAV $52,550,635
    Fund first reported on Form ADVFundsFactEncap Energy Transition Fund Ii-C, L.P.Form ADV
  5. Mar 29, 2023
    Encap Energy Transition Fund Ii-E, L.P. first reported on Form ADV by Encap Etf Management, LLC (Venture Capital Fund), GAV $425,004,952
    Fund first reported on Form ADVFundsFactEncap Energy Transition Fund Ii-E, L.P.Form ADV
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 30, 2026 · 4 private fundsShow
Headquarters
Houston, TXadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
Website
encapinvestments.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 30, 2026
Private funds reported
4 (4 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$1.5Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Owners on Schedule A
Encap Investments Holdings LLC (Sole Member Of Encap Investments Gp, L.L.C.); Encap Investments L.P. (Sole Member), owns 75% or more; Encap Energy Transition Fund II GP, LLC (General Partner Of Encap Energy Transition Fund Ii Gp, L.P. (Relying Adviser)), owns under 5%
Classification history
Every classification this record has carried5 on recordShow
  1. Sep 30, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $1.5B across 15 vehicles
  2. Sep 23, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $1.5B across 12 vehicles
  3. Sep 15, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $968M across 12 vehicles
  4. Sep 12, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $968M across 11 vehicles
  5. Sep 12, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $968M across 4 vehicles
Evidence
59 observations from 3 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
Why admittedVC exemption, VC funds reportedMar 30, 2026FactForm ADV
SEC exemption claimedVenture capital fund adviserMar 30, 2026FactForm ADV
SEC exemption claimedVenture capital fund adviserMar 28, 2024FactForm ADV
SEC adviser typeExempt reporting adviserMar 30, 2026FactForm ADV
SEC adviser typeExempt reporting adviserMar 30, 2026FactForm ADV
SEC adviser typeExempt reporting adviserMar 28, 2024FactForm ADV
First Form ADV filing2023-03-29Mar 30, 2026FactForm ADV
First Form ADV filing2023-03-29Mar 28, 2024FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-25Sep 26, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-23Sep 24, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-21Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-22Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1Sep 12, 2026FactForm ADV
Latest Form ADV filing2026-03-30Mar 30, 2026FactForm ADV
Latest Form ADV filing2026-03-30Mar 30, 2026FactForm ADV
Latest Form ADV filing2024-03-28Mar 28, 2024FactForm ADV
SEC statusERA - ActiveMar 30, 2026FactForm ADV
SEC status effective2023-03-29Mar 30, 2026FactForm ADV
Venture share of reported funds1Mar 30, 2026FactForm ADV
Venture share of reported funds1Mar 28, 2024FactForm ADV
Business phoneMar 30, 2026FactForm ADV
Business phoneMar 28, 2024FactForm ADV
Entity typeLimited PartnershipAug 31, 2023FactForm D
Form D fund typeVenture Capital FundAug 31, 2023FactForm D
Form D industry groupPooled Investment FundAug 31, 2023FactForm D
AmendmenttrueAug 31, 2023FactForm D
Revenue range (Form D)Decline to DiscloseAug 31, 2023FactForm D
HeadquartersHouston, TXMar 30, 2026FactForm ADV
HeadquartersHouston, TXMar 28, 2024FactForm ADV
IncorporatedwithinFiveYearsAug 31, 2023FactForm D
JurisdictionDelawareAug 31, 2023FactForm D
Amount sold (Form D)512,590,000Aug 31, 2023FactForm D
Exemptions06b, 3C, 3C.7Aug 31, 2023FactForm D
First sale2022-10-21Aug 31, 2023FactForm D
Indefinite offeringtrueAug 31, 2023FactForm D
Investors (Form D)7Aug 31, 2023FactForm D
Minimum investment (Form D)0Aug 31, 2023FactForm D
Securities offeredEquity, pooledAug 31, 2023FactForm D
Office addressMar 30, 2026FactForm ADV
Office addressMar 28, 2024FactForm ADV
Office addressAug 31, 2023FactForm D
Legal formLimited Liability CompanyMar 30, 2026FactForm ADV
Legal formLimited Liability CompanyMar 28, 2024FactForm ADV
Private funds reported4Mar 30, 2026FactForm ADV
Private funds reported4Mar 30, 2026FactForm ADV
Private funds reported4Mar 28, 2024FactForm ADV
Private fund gross assets (reported)$1.5BMar 30, 2026FactForm ADV
Private fund gross assets (reported)$1.5BMar 30, 2026FactForm ADV
Private fund gross assets (reported)$968MMar 28, 2024FactForm ADV
Schedule a diffsadiff-1Sep 14, 2026FactForm ADV
Venture funds reported4Mar 30, 2026FactForm ADV
Venture funds reported4Mar 30, 2026FactForm ADV
Venture funds reported4Mar 28, 2024FactForm ADV
WebsiteMar 30, 2026FactForm ADV
WebsiteMar 28, 2024FactForm ADV
Year of incorporation2022Aug 31, 2023FactForm D
How this is scored
Scores, classification basis and filing advisersInstitutional venture firm, confirmed · 3 filing advisers share this firmShow
Importance
38
elevated
Active deployment
25
moderate
Emerging
0
low
Freshness
98
high
Institutional venture firmSEC exempt reporting adviser

Venture manager, reported GAV $1.5B across 15 vehicles

One of 3 advisers that share encapinvestments.com; the firm is EnCap Investments. Encap Investments L.P., Encap Flatrock Midstream. Each keeps its own CRD, funds and filings; the grouping is the website each swore to on Form ADV and is recomputed every pass.

The inputs behind each score
importance
gav: $1 · funds: 1 · people: 0 · 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: 15 · reported gav: $1.5B · first adv filing: 2023-03-29 · years since first filing: 3.5

Fits, record history and connections

scored matches for this investor, every identity change, every edge

Record history

1 identity change, 2 dated events on the change ledger, latest first
  • Grouped with firm
    2026-09-12
  • Form D filed
    2023-08-31source
  • Adviser's first ADV filing
    2023-03-29source

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.