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Firms / X•••••• C•••••• A••••••• L••

X•••••• C•••••• A••••••• L••

Seed fund manager · probableSan Juanx•••••••••.comSEC exempt reporting adviser

••• Locked

seed vehicles only

Importance
9
low
Active deployment
0
low
Emerging
0
low
Completeness
44
elevated
Freshness
98
high
Research priority
3
low
Identity and regulatory footprint
Headquarters
San Juan, PRadviserinfo.sec.gov
Office address
••• Lockedadviserinfo.sec.gov
Business phone
••• Lockedadviserinfo.sec.gov
SEC adviser type
exempt reporting adviseradviserinfo.sec.gov
SEC exemption claimed
private fund adviseradviserinfo.sec.gov
Latest Form ADV
Oct 5, 2021
Private funds reported
1 (1 venture capital funds)adviserinfo.sec.gov
Private fund gross assets
$50.0Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
business email
sbudge@xanthuscap.comxanthuscap.compublished by the subject
business phone
845-216-1085adviserinfo.sec.govpublished by the subject
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 n/afollow-on rate n/anew logos, 12 months 0
Funds and vehicles
1 reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
D••••• I•••••• L••• a• S••••• o• S•••••••• S••••• L••SPV or co-invest vehicle2021 form d first saleMature$50.0M
Oct 5, 2021
69$5.0MJul 12, 2021
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
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
4 dated events
  1. Sep 15, 2026
    X•••••• C•••••• A••••••• L••: INSTITUTIONAL_VC -> SEED_FUND_MANAGER (seed vehicles only)
    Classification changedClassificationInferenceno URL
  2. Sep 12, 2026
    X•••••• C•••••• A••••••• L••: SEED_FUND_MANAGER -> INSTITUTIONAL_VC (venture manager with no reported fund assets yet (scale unknown))
    Classification changedClassificationInferenceno URL
  3. Oct 5, 2021
    X•••••• C•••••• A••••••• L•• first filed Form ADV (ERA)
  4. Oct 5, 2021
    D••••• I•••••• L••• a• S••••• o• S•••••••• S••••• L•• first reported on Form ADV by X•••••• C•••••• A••••••• L•• (Venture Capital Fund), GAV $50,000,000
Classification history
  1. Sep 15, 2026
    Seed fund manager (probable, 80%, cls-1)
    seed vehicles only
  2. Sep 12, 2026
    Institutional venture firm (probable, 70%, cls-1)
    venture manager with no reported fund assets yet (scale unknown)
  3. Sep 12, 2026
    Seed fund manager (probable, 80%, cls-1)
    seed vehicles only
Evidence
20 observations from 2 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
SEC exemption claimedprivate_fund_adviserOct 5, 2021FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
SEC adviser typeexempt_reporting_adviserOct 5, 2021FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
First Form ADV filing2021-10-05Oct 5, 2021FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Adv history loadedadv-hist-1Sep 12, 2026FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Latest Form ADV filing2021-10-05Oct 5, 2021FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Venture share of reported funds1Oct 5, 2021FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Business phone••• LockedOct 5, 2021FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Contact page urlhttps://x•••••••••.com/
contact page linked from the home page
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Description••• Locked
••• Locked
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Description••• Locked
••• Locked
Sep 15, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
HeadquartersSan Juan, PROct 5, 2021FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Office address••• LockedOct 5, 2021FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Legal formLimited Liability PartnershipOct 5, 2021FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Private funds reported1Oct 5, 2021FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Private fund gross assets (reported)$50.0MOct 5, 2021FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Venture funds reported1Oct 5, 2021FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Websitehttps://x•••••••••.com/Oct 5, 2021FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Site titleX•••••• Capital Management - X•••••• Capital Management
title tag
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Site titleX•••••• Capital Management - X•••••• Capital Management
title tag
Sep 15, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)