Nebular Management, LLC

Institutional venture firmSEC venture capital fund adviser

Institutional venture firm, reporting $94.6M of fund assets on its funds' Form ADV filings.

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

Reported fund assets
$94.6M
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
1
Latest vintage
2025
More
Ask DFX about thisView relationshipsFind contactsInvestments (1)TeamFunds
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

6 additional co-investors and affiliates, 1 additional investment, fund or LP, 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. 3 vehicles
    on Form D, 18 months

    $63.4M 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

14 connected entities1 observed roundrounds 2026

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
  • Company
  • Fund or vehicle

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 Nebular 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 Nebular Management, LLC

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

Investing

1 company on record, 1 new in 12 months
Investments on record
1 company, 0 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
Project ElevenFunding roundparticipantunknown$20.0MunknownJan 14, 2026Fact Press release
Stated thesis versus observed behaviour
1 observed deals
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
unknown 100%
lead rate 0%follow-on rate 0%new companies, 12 months 1

Team

0 current, 0 departed
Investment team
0 current, 0 departed
No named professional yet. People arrive from Form ADV Schedule A (owners, officers, control persons) and the team page.
Contacts
1 firm phone

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

Funds and LPs

4 vehicles, 0 LPs disclosed
Funds and vehicles
4 reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
Nebular Fund II, LPFund2025 form d first saleNewly closed$44.9M
Sep 12, 2026
72$61.3M
of $61.3M
Sep 18, 2026
PR-1118 Fund I, a series of Nebular Expansion Series, LPSPV or co-invest vehicle2025 form d first saleNewly closed$1.3M
Sep 12, 2026
3$1.3M
of $1.3M
Dec 9, 2025
ST-1013 Fund I, a series of Nebular Expansion, LPSPV or co-invest vehicle2025 form d first saleNewly closed$800,000
Sep 12, 2026
1$800,000
of $800,000
Oct 29, 2025
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
0 relationships across the firm's funds, from public pensions and the allocator graph
No allocator names this firm or its funds in a public disclosure DFX holds.

Relationships across DFX

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

Nebular 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…

Evidence and history

3 dated events, 11 observations from 2 sources
Timeline
3 dated events
  1. Sep 18, 2026
    Nebular Fund II, LP: the Form D filed 2026-09-18 reports the offering fully sold ($61.3M of $61.3M, 78 investors); a final close is inferred
    Fund close inferredderived signalInferenceNebular Fund II, LPno URL
  2. Sep 12, 2026
    Nebular Fund I, LP first reported on Form ADV by Nebular Management, LLC, GAV $47,603,573
    Fund first reported on Form ADVFundsFactNebular Fund I, LPForm ADV
  3. Mar 25, 2026
    Nebular Management, LLC appears on the SEC adviser roster (ERA, venture capital fund adviser exemption)
    First SEC adviser filingOrganizationFactForm ADV
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 25, 2026 · 4 private fundsShow
Headquarters
unknown
Office address
unknown
Business phone
unknownadviserinfo.sec.gov
Website
unknown
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 25, 2026
Private funds reported
4 (4 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$94.6Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Classification history
Every classification this record has carried1 on recordShow
  1. Sep 12, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $95M across 4 vehicles
Evidence
12 observations from 2 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
Why admittedVC exemption, VC funds reportedMar 25, 2026FactForm ADV
SEC exemption claimedVenture capital fund adviserMar 25, 2026FactForm ADV
SEC adviser typeExempt reporting adviserMar 25, 2026FactForm ADV
Latest Form ADV filing2026-03-25Mar 25, 2026FactForm ADV
Adv pdf loadedadv-pdf-1Sep 12, 2026FactForm ADV
SEC statusERA - ActiveMar 25, 2026FactForm ADV
SEC status effective2026-03-25Mar 25, 2026FactForm ADV
Business phoneMar 25, 2026FactForm ADV
Legal formLimited Liability CompanyMar 25, 2026FactForm ADV
Private funds reported4Mar 25, 2026FactForm ADV
Private fund gross assets (reported)$94.6MMar 25, 2026FactForm ADV
Venture funds reported4Mar 25, 2026FactForm ADV
How this is scored
Scores, classification basis and filing advisersInstitutional venture firm, confirmedShow
Importance
21
moderate
Active deployment
29
moderate
Emerging
0
low
Freshness
89
high
Institutional venture firmSEC exempt reporting adviser

Venture manager, reported GAV $95M across 4 vehicles

The inputs behind each score
importance
gav: 0.3 · funds: 0.33 · people: 0 · investments: 0 · co investors: 0.39
active deployment
investments 12m: 0.13 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: 2026-01-14
emerging manager
fund count: 4 · reported gav: $94.6M · first adv filing: 2026-03-25 · years since first filing: 0.5

Fits, record history and connections

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

Record history

1 dated event on the change ledger, latest event first
  • Adviser's first ADV filing
    2026-03-25source 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.

Not yet on record: investment team.