DFX Intelligence
Venture Capital Intelligence
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Firms / B•••• a•• B••••• V•••••••• L••
B•••• a•• B••••• V•••••••• L••
••• Locked
venture manager, reported GAV $69M across 4 vehicles
Importance
14
low
Active deployment
0
low
Emerging
0
low
Completeness
56
elevated
Freshness
98
high
Research priority
3
low
Identity and regulatory footprint
- Headquarters
- unknown
- Office address
- unknown
- Business phone
- ••• Lockedadviserinfo.sec.gov
- Website
- b•••••••••.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 27, 2026
- Private funds reported
- 4 (4 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $81.1Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business email
- hello@breadandbutterventures.combreadandbutterventures.compublished by the subject
- business phone
- 561.909.9089adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
no observed deals yet
Stated (the firm’s website)
- Sectors
- ai, enterprise software, healthcare, medtech, hardware, logistics, industrial, agtech, b2b, vertical saas
- Stages
- seed, early
- Geography
- globally, minnesota
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- venture capital
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 n/afollow-on rate n/anew logos, 12 months 0
Funds and vehicles
4 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| B•••• a•• B••••• V••••••• F••• I•• L• | Fund · ADV: Private Equity Fund | unknown | Unknown | $27.5M Mar 29, 2024 | 48 | $0 of $60.0M | Apr 21, 2023 |
| B•••• a•• B••••• V••••••• F••• I••• L• | Fund | unknown | Unknown | $26.7M Mar 29, 2024 | 90 | $0 of $25.0M | Oct 26, 2020 |
| B•••• a•• B••••• V••••••• F••• I•• L• | SPV or co-invest vehicle | unknown | Unknown | $12.8M Mar 29, 2024 | 63 | $0 of $10.0M | Nov 14, 2018 |
| T•• S•••••••• F•••• L• | SPV or co-invest vehicle | unknown | Unknown | $2.5M Mar 29, 2024 | 64 | 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
1 current, 0 departed
B•••• G••••• B••••
PartnerManaging Director · since Jun 1, 2017
Investments on record
0 edges, 0 companies, 0 partner-attributed
No investment on record yet. Edges arrive from the firm’s portfolio page, financing announcements, and Form D board seats.
Co-investors
0 relationships from shared deals, counted for the whole firm
No co-investor relationship yet: these are derived only from rounds and portfolio listings the graph has seen both investors on.
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
5 dated events
- Mar 29, 2024B•••• a•• B••••• V•••••••• L•• first filed Form ADV (ERA)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2024B•••• a•• B••••• V••••••• F••• I•• L• first reported on Form ADV by B•••• a•• B••••• V•••••••• L•• (Venture Capital Fund), GAV $12,798,698Fund first reported on Form ADVFundsFactB•••• a•• B••••• V••••••• F••• I•• L•SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2024T•• S•••••••• F•••• L• first reported on Form ADV by B•••• a•• B••••• V•••••••• L•• (Venture Capital Fund), GAV $2,457,974Fund first reported on Form ADVFundsFactT•• S•••••••• F•••• L•SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2024B•••• a•• B••••• V••••••• F••• I••• L• first reported on Form ADV by B•••• a•• B••••• V•••••••• L•• (Venture Capital Fund), GAV $26,690,140Fund first reported on Form ADVFundsFactB•••• a•• B••••• V••••••• F••• I••• L•SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2024B•••• a•• B••••• V••••••• F••• I•• L• first reported on Form ADV by B•••• a•• B••••• V•••••••• L•• (Private Equity Fund), GAV $27,484,999Fund first reported on Form ADVFundsFactB•••• a•• B••••• V••••••• F••• I•• L•SEC 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 $69M across 4 vehicles
- Sep 12, 2026Institutional venture firm (probable, 80%, cls-1)venture manager, reported GAV $69M across 4 vehicles
Evidence
41 observations from 3 sources