Cercano Management LLC
Private equity with venture activity, based in Bellevue, Washington, reporting $1.0B of fund assets on its funds' Form ADV filings.
Composed from this organization's classification, location and filed figures.
4 additional team members, 12 additional investments, funds and LPs, 24 events, 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 departurepeople, 12 months
A team member departed 23 days ago.
A partner leaving or arriving changes who decides, and who a founder or LP should call.
InferenceIAPD Form ADV Part 1 PDF per firm (current filing, Schedule D 7.B.(1) and Schedule A)For Founders, LPs, recruitersTeam →
People to know
View all people- Co-Chief Investment OfficerWhy: Chief investment officer: owns the allocation decisionNo route on file yet
- Limited PartnerWhy: Partner: part of the investment decisionNo route on file yet
- Exec Vp And Management Committee MemberWhy: Named with investment responsibilityNo route on file yet
Relationship network
27 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.
- Sponsor
- Company
- 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 Cercano 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 Cercano Management LLC
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
3 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.| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| Wavemaker Partners | portfolio listing | unknown | unknown | unknown | unknown | Sep 15, 2026 | Fact Company website |
| Seattle Food Tech, Inc. | board seat | unknown · board | Yongbai Choi (strongly supported) | unknown | unknown | Jan 8, 2025 | Inference Form D |
| Painted Cave, Inc. | board seat | unknown · board | Yongbai Choi (strongly supported) | unknown | unknown | Dec 12, 2024 | Inference Form D |
Stated thesis versus observed behaviour
- 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
Team
7 current, 4 departed
Decision makers
- Patricia Ann Halper · Co-Chief Investment OfficerWhy this person: Chief investment officer: owns the allocation decision; Named with investment responsibility; Joined in Aug 2025
- Christopher Neil Orndorff · Limited PartnerWhy this person: Partner: part of the investment decision; Named with investment responsibility
- Yongbai Choi · Exec Vp And Management Committee MemberWhy this person: Named with investment responsibility
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. 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.- Co-Chief Investment Officer
- Limited Partner
- Exec Vp And Management Committee Member · 2 deals attributed
4 departed (kept with end dates)
- Gabrielle Glemann · General Counsel · Jun 1, 2023 to Sep 8, 2026 Fact
- Kevin James Hiniker · Chief Compliance Officer · Mar 1, 2023 to Aug 1, 2023 Inference
- Omar Emmanuel Vasquez · Chief Compliance Officer, Associate General Counsel · Nov 1, 2021 to Mar 31, 2022 Inference
Contacts
1 firm phone on record, each with its source. Values open with the complete profile.
Funds and LPs
13 vehicles, 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 |
|---|---|---|---|---|---|---|---|
| Vulcan Capital Singapore Greenhouse Pte. Ltd. | Fund | 2023 adv first reported | Active deployment | $114M Sep 8, 2026 | 1 | unknown | unknown |
| Cercano Zambezi Asia L.P. | Fund | 2023 adv first reported | Active deployment | $46.7M Sep 8, 2026 | 2 | unknown | unknown |
| Pacf Asia Venture Capital LP | Fund | 2023 form d first sale | Active deployment | $39.7M Sep 8, 2026 | 2 | $0 | Sep 29, 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
3 co-investors · on 5 other DFX graphs
Co-investors
- 2026-09-161 shared deal · one time
- 2026-09-151 shared deal · one time · they led 1
- 2026-09-151 shared deal · one time
Across DFX and the capital chainon 5 other DFX graphs · 1 capital path ShowHide
- Sponsor-market profile (matched by same CRD)
- The same institution is held on Allocators, Independent Sponsors, Private Equity, RIA and Wealth, Private Credit, matched by identifier. See which records
Cercano Management LLC is the same institution as 5 records in Allocators, Independent Sponsors, Private Equity, RIA and Wealth and Private Credit.
DFX found 5 relationships across 5 datasets
Which record it is in each graph, what it is called there, and how the two were matched.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Checking your plan…
Cercano Management LLC sits on 1 traced path of capital across the graphs.
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
29 dated events, 70 observations from 3 sources
Timeline
- Sep 8, 2026Gabrielle Glemann (General Counsel) no longer on Schedule A of Cercano Management LLC
- Feb 12, 2024Cercano Integrity Venture Capital LP first reported on Form ADV by Cercano Management LLC (Venture Capital Fund), GAV $2,356,920
- Feb 12, 2024Pacf Venture Capital LP first reported on Form ADV by Cercano Management LLC (Venture Capital Fund), GAV $3,309,206
- Feb 12, 2024Pacf Asia Venture Capital LP first reported on Form ADV by Cercano Management LLC (Venture Capital Fund), GAV $9,792
- Feb 12, 2024Cercano Big Hat Venture Capital LP first reported on Form ADV by Cercano Management LLC (Venture Capital Fund), GAV $3,035,478
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Sep 8, 2026 · 29 private fundsShowHide
- Headquarters
- Bellevue, WAadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- cercanolp.com
- SEC adviser type
- Registered investment adviseradviserinfo.sec.gov
- SEC exemption claimed
- unknown
- Latest Form ADV
- Sep 8, 2026
- Private funds reported
- 29 (13 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets, adviser total
- $6.8Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Regulatory AUM
- $7.3Bthe adviser's RAUM, a regulatory measure, never a fund size
- Employees
- 62
- Owners on Schedule A
- Cercano Management GP LLC (General Partner); The Estate of Paul G. Allen (Limited Partner), owns 25% to 50%; Cercano Management Holdings LP (Member), owns 75% or more
Classification history
Classification history
Every classification this record has carried2 on recordShowHide
- Sep 23, 2026Private equity with venture activity (probable, 75%)Registered adviser; venture funds are 38% of 29 private funds
- Sep 12, 2026Private equity with venture activity (probable, 75%)Registered adviser; venture funds are 42% of 29 private funds
Evidence
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| Why admitted | VC funds reported | Jul 1, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | Sep 8, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | Jul 1, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | Nov 15, 2024 | Fact | Form ADV |
| First Form ADV filing | 2021-11-17 | Sep 8, 2026 | Fact | Form ADV |
| First Form ADV filing | 2021-11-17 | Nov 15, 2024 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-30 | Oct 1, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-29 | Sep 30, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-25 | Sep 26, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-23 | Sep 24, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-21 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-22 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1 | Sep 12, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-09-08 | Sep 8, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-07-01 | Jul 1, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2024-11-15 | Nov 15, 2024 | Fact | Form ADV |
| SEC status | Approved | Jul 1, 2026 | Fact | Form ADV |
| SEC status effective | 2021-12-30 | Jul 1, 2026 | Fact | Form ADV |
| Venture share of reported funds | 0 | Sep 8, 2026 | Fact | Form ADV |
| Venture share of reported funds | 0 | Nov 15, 2024 | Fact | Form ADV |
| Business phone | Jul 1, 2026 | Fact | Form ADV | |
| Business phone | Nov 15, 2024 | Fact | Form ADV | |
| Employees | 62 | Jul 1, 2026 | Fact | Form ADV |
| Employees | 70 | Nov 15, 2024 | Fact | Form ADV |
| Headquarters | Bellevue, WA | Jul 1, 2026 | Fact | Form ADV |
| Headquarters | Bellevue, WA | Nov 15, 2024 | Fact | Form ADV |
| Office address | Jul 1, 2026 | Fact | Form ADV | |
| Office address | Nov 15, 2024 | Fact | Form ADV | |
| Legal form | Limited Liability Company | Jul 1, 2026 | Fact | Form ADV |
| Other funds reported | 5 | Jul 1, 2026 | Fact | Form ADV |
| PE funds reported | 5 | Jul 1, 2026 | Fact | Form ADV |
| Private funds reported | 29 | Sep 8, 2026 | Fact | Form ADV |
| Private funds reported | 29 | Jul 1, 2026 | Fact | Form ADV |
| Private funds reported | 29 | Nov 15, 2024 | Fact | Form ADV |
| Private fund gross assets (reported) | $6.8B | Sep 8, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $6.8B | Jul 1, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $10B | Nov 15, 2024 | Fact | Form ADV |
| Regulatory AUM (adviser, not fund size) | $7.3B | Jul 1, 2026 | Fact | Form ADV |
| Regulatory AUM (adviser, not fund size) | $10B | Nov 15, 2024 | Fact | Form ADV |
| Schedule a diff | sadiff-1 | Sep 8, 2026 | Fact | Form ADV |
| Venture funds reported | 13 | Sep 8, 2026 | Fact | Form ADV |
| Venture funds reported | 13 | Jul 1, 2026 | Fact | Form ADV |
| Venture funds reported | 13 | Nov 15, 2024 | Fact | Form ADV |
| Website | Jul 1, 2026 | Fact | Form ADV | |
| Website | Nov 15, 2024 | Fact | Form ADV | |
| Robots | disallowed “robots.txt disallows our user agent” | Sep 16, 2026 | Fact | |
| Robots | disallowed “robots.txt disallows our user agent” | Sep 15, 2026 | Fact |
How this is scored
Scores, classification basis and filing advisersPrivate equity with venture activity, probableShowHide
Registered adviser; venture funds are 38% of 29 private funds
- importance
- gav: 0.61 · funds: 1 · people: 0.24 · investments: 0.18 · scale basis: Venture-typed funds only (Private equity with venture activity): 13 funds, $1.0B of $1.0B reported · co investors: 0.19
- active deployment
- investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: 2025-01-08
- emerging manager
- fund count: 15 · reported gav: $1.0B · first adv filing: 2021-11-17 · years since first filing: 4.9
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Fits
- score 37.7confidence 100%Why: sector fit; geography fit; activity; analogousWatch: adjacent portfolio
Scored by DFX match engines from the record's observed portfolio, stage, geography and recent activity. A fit is a reason to look, not a mandate; the blockers say what the model could not confirm. Names and the evidence sentences show with the names on this page.
Record history
- Adviser's first ADV filing2021-11-17source 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.