DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
Firms / Natural Capital
Natural Capital
Private equity with venture activity · probableLittle Rock, ARnaturalcapitalfirm.comSEC registered investment adviser
Investor-first private investment firm focused on long-term opportunities in the Heartland. Access diversified real estate and growth-stage investments designed for durable returns.
registered adviser; venture funds are 0% of 11 private funds
Importance
35
elevated
Active deployment
55
elevated
Emerging
0
low
Completeness
69
high
Freshness
100
high
Research priority
19
moderate
Identity and regulatory footprint
- Headquarters
- Little Rock, ARadviserinfo.sec.gov
- Office address
- 2800 CANTRELL ROAD, SUITE 201, Little Rock, AR, 72202adviserinfo.sec.gov
- Business phone
- 501-517-3162adviserinfo.sec.gov
- SEC adviser type
- registered investment adviseradviserinfo.sec.gov
- SEC exemption claimed
- unknown
- Latest Form ADV
- Aug 1, 2024
- Private funds reported
- 11 (0 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $270Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Regulatory AUM
- $217Mthe adviser's RAUM, a regulatory measure, never a fund size
- Employees
- 10
- Owners on Schedule A
- MTS Nc, LLC (Member), B; Bhkh Holdings, LLC (Member), C; Gbgearhart Enterprises LLC (Member), B; RZR, LLC (Member), B
- business phone
- 501-517-3162adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
24 observed deals
Stated (the firm’s website)
- Sectors
- industrial
- Stages
- not stated or not yet read
- Geography
- heartland
- 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 96%Other 4%
lead rate 0%follow-on rate 0%new logos, 12 months 24
Funds and vehicles
3 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Natural Capital Fund Ii-A, L.P. | Feeder or parallel · ADV: Private Equity Fund | 2024 adv first reported | Early deployment | $16.8M Aug 1, 2024 | 33 | $0 | Jun 5, 2023 |
| Natural Capital Fund I, L.P. | Fund · ADV: Private Equity Fund | 2019 form d first sale | Mature | $53.6M Aug 1, 2024 | 73 | $15.8M of $100M | Oct 3, 2019 |
| Natural Capital Fund II, L.P. | Fund · ADV: Private Equity Fund | unknown | Unknown | $115M Aug 1, 2024 | 123 | $0 | Nov 18, 2022 |
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
17 current, 0 departed
Aj Hayes
AnalystInvestment Analyst
Gaby Aguilar
AnalystInvestment Analyst
Hayden Henry
AssociateInvestment Associate
Brock Gearhart
General partnerCo-Founder & Partner
Marshall Saviers
General partnerCo-Founder & Partner
Todd Simmons
General partnerCo-Founder & Partner
Rachel McGehee
Investor relationsVice President, Investor Relations
Bradley Thomas Henry
Managing partnerManaging Partner · since May 1, 2019
Ben Hearnsberger
PartnerManaging Director, Investments
George Brockmann Gearhart
PartnerMember · since May 1, 2019
Mark Todd Simmons
PartnerMember · since Nov 1, 2018
Marshall Thomas Saviers
PartnerMember · since May 1, 2019
Melissa Hall Haynes
PartnerMember · since Nov 1, 2018
Rob Kimbel
PartnerPartner
AMY Christeen Bagnall
Platform and operationsChief Compliance Officer & General Counsel · since Sep 1, 2023
Denny Moss
Platform and operationsChief Operating Officer
Tracy Lynne Cude
Platform and operationsChief Financial Officer · since Oct 1, 2023
Investments on record
24 edges, 24 companies, 0 partner-attributed
“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.
Co-investors
19 relationships from shared deals, counted for the whole firm
Activant Capital Group LLC 1 shared · one timeFlyover Capital Partners, LLC 1 shared · one timeTwelve Below 1 shared · one timeIselect Fund Management, LLC 1 shared · one timeSterling Road 1 shared · one timeFika Ventures 1 shared · one timeArena Private Wealth 1 shared · one timeBoardman Bay Capital Management LLC 1 shared · one timeBanyan Ventures 1 shared · one timeHudson River Trading 1 shared · one timeHelena 1 shared · one timeFlume Ventures Management, LLC 1 shared · one timeUnless Management LP 1 shared · one timeDFJ Growth 1 shared · one timeFincadia Advisors 1 shared · one timeQatar Investment Authority 1 shared · one timeResilience Reserve 1 shared · one timeNEA 1 shared · one time · they led 1Atreides Management, LP 1 shared · one time · they led 1
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
6 dated events
- Mar 30, 2024Natural Capital Fund Ii-A, L.P. first reported on Form ADV by Natural Capital (Private Equity Fund), GAV $14,454,671Fund first reported on Form ADVFundsFactNatural Capital Fund Ii-A, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Oct 1, 2023Tracy Lynne Cude joined Schedule A of Natural Capital as Chief Financial Officer
- Sep 1, 2023AMY Christeen Bagnall joined Schedule A of Natural Capital as Chief Compliance Officer & General Counsel
- Jul 24, 2023Natural Capital Management, LLC 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)
- Jul 24, 2023Natural Capital Fund I, L.P. first reported on Form ADV by Natural Capital Management, LLC (Private Equity Fund), GAV $47,404,419Fund first reported on Form ADVFundsFactNatural Capital Fund I, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jul 24, 2023Natural Capital Fund II, L.P. first reported on Form ADV by Natural Capital Management, LLC (Private Equity Fund), GAV $68,644,398Fund first reported on Form ADVFundsFactNatural Capital Fund II, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 12, 2026Private equity with venture activity (probable, 75%, cls-1)registered adviser; venture funds are 0% of 11 private funds
Evidence
31 observations from 2 sources