Primary Ventures
We back founders building things the world hasn't seen yet, at the moment before the world believes.
In the firm's own words, from its website.
45 additional team members, 19 additional co-investors and affiliates, 68 additional investments, funds and LPs, 36 events, 11 verified contacts (8 professional url, 2 firm phone, 1 general firm email)
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
- 3 vehicleson Form D, 18 months
Largest offerings: PVP H3 $735K. $39.6M reported sold so far.
A Form D is filed when a vehicle takes its first money, so these are open to LPs now.
- 3 companiesnew in 12 months
3 new companies in the last 12 months. Latest round Inspiren Series C ($70M round) on 10 Sep 2026.
A firm writing cheques this quarter is one a founder can pitch now.
- 2 dealswith Scale Venture Partners
Invests most often alongside Scale Venture Partners (2 shared deals) and Story Ventures (2 shared deals).
pair last observed on record 1 Oct 2026, not a deal date · The firms it syndicates with are the likeliest to see the same deals and to fill out its rounds.
People to know
View all people- Partner, Co-CIOWhy: Chief investment officer: owns the allocation decisionProfile
- Managing Partner, Co-CIOWhy: Chief investment officer: owns the allocation decisionProfile
- ManagerWhy: Named with investment responsibilityNo route on file yet
Relationship network
117 connected entities11 observed rounds1 dated round shown here, 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.
- Sponsor
- Company
- Capital provider
- 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 Primary Ventures: 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 Primary Ventures
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
20 companies on record, 3 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 |
|---|---|---|---|---|---|---|---|
| 1mind | portfolio listing | unknown | unknown | unknown | unknown | Oct 1, 2026 | Fact Firm website |
| Alma | portfolio listing | unknown | unknown | unknown | unknown | Oct 1, 2026 | Fact Firm website |
| Inspiren | portfolio listing | unknown | unknown | unknown | unknown | Oct 1, 2026 | Fact Firm website |
Stated thesis versus observed behaviour
- Sectors
- ai, enterprise software, healthcare, energy, hardware
- Stages
- seed
- Geography
- not stated
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- seed
Team
47 current, 5 departed
Decision makers
- Ben Sun · Partner, Co-CIOWhy this person: Chief investment officer: owns the allocation decision; Named with investment responsibilityLinkedIn or profile link on file (firm website), confirmed 2026-10-01, confidence 90%
- Brad Svrluga · Managing Partner, Co-CIOWhy this person: Chief investment officer: owns the allocation decision; Named with investment responsibilityLinkedIn or profile link on file (firm website), confirmed 2026-10-01, confidence 90%
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. 2 with a route on file. 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.- Managing Partner, Co-CIO
- Partner, Co-CIO
- Manager · 2 deals attributed
5 departed (kept with end dates)
- Bela Louis Musits · Managing Director · Jul 1, 2010 to Mar 23, 2016 Inference
- Russell William Howard · Managing Director · Jul 1, 2010 to Mar 29, 2019 Inference
- Anne Fielding Davey · Vp Of Fund Finance & Operations And Chief Compliance Officer · Sep 1, 2020 to Mar 29, 2023 Inference
Contacts
1 general firm email, 2 firm phone, 8 professional url on record, each with its source. Values open with the complete profile.
Funds and LPs
24 vehicles, 1 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 |
|---|---|---|---|---|---|---|---|
| PVP H3, LP | Fund | 2026 form d first sale | Newly closed | unknown | unknown | $734,889 of $734,889 | May 28, 2026 |
| PVP Etdai Spv, LLC | SPV or co-invest vehicle | 2025 form d first sale | Fundraising | $38.8M Mar 26, 2026 | 21 | $38.8M | Jan 13, 2026 |
| PVP Fund Iv-A, L.P. | Feeder or parallel | 2024 adv first reported | Early deployment | $90.9M Mar 26, 2026 | 2 | $0 of $30.0M | Jan 18, 2023 |
Limited partners
- 2025-07-243 commitments to 3 funds · $100M disclosed
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.| Allocator | Type | Fund | Amount | Date | Source |
|---|---|---|---|---|---|
| New York State Common Retirement Fund | PUBLIC INSTITUTIONAL POOL | PVP Fund V, L.P. | $40.0M committed | committed Jul 24, 2025 | Fact Pension disclosure |
| New York State Common Retirement Fund | PUBLIC INSTITUTIONAL POOL | Primary Select Fund IV, L.P. | $30.0M committed | committed Jul 24, 2025 | Fact Pension disclosure |
| New York State Common Retirement Fund | PUBLIC INSTITUTIONAL POOL | PVP Fund IV, L.P. | $30.0M committed | reported as of Mar 31, 2025 | Fact Pension disclosure |
Relationships across DFX
22 co-investors · on 2 other DFX graphs
Co-investors
- 2026-10-012 shared deals · recurring
- 2026-10-012 shared deals · recurring
- 2026-10-011 shared deal · one time
Across DFX and the capital chainon 2 other DFX graphs · 73 capital paths ShowHide
- The same institution is held on Allocators, RIA and Wealth, matched by identifier. See which records
Primary Ventures is the same institution as 2 records in Allocators and RIA and Wealth.
DFX found 2 relationships across 2 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…
Primary Ventures sits on 73 traced paths of capital across the graphs.
DFX traced 73 paths 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
41 dated events, 72 observations from 4 sources
Timeline
- seen on or beforeSep 16, 2026Primary Ventures: MULTI_STAGE_VC -> SEED_FUND_MANAGER (name or self-description says seed)Classification changedClassificationInference
- Mar 26, 2026Primary Select Fund IV, L.P. first reported on Form ADV by Primary Ventures (Venture Capital Fund), GAV $231,426,296
- Mar 26, 2026PVP Etdai Spv, LLC first reported on Form ADV by Primary Ventures (Venture Capital Fund), GAV $38,825,000
- Mar 26, 2026PVP Fund V, L.P. first reported on Form ADV by Primary Ventures (Venture Capital Fund), GAV $417,884,282
- Mar 26, 2026PVP H2, LP first reported on Form ADV by Primary Ventures (Venture Capital Fund), GAV $7,318,150
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 26, 2026 · 18 private fundsShowHide
- Headquarters
- New York, NYadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- PRIMARY.VC
- 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 26, 2026
- Private funds reported
- 18 (18 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets, adviser total
- $3.1Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Classification history
Classification history
Every classification this record has carried3 on recordShowHide
- Sep 16, 2026Seed fund manager (confirmed, 95%)Name or self-description says seed
- Sep 15, 2026Multi-stage venture firm (confirmed, 95%)Both early and growth/opportunity families, reported GAV $1.4B
- Sep 12, 2026Multi-stage venture firm (confirmed, 95%)Both early and growth/opportunity families, reported GAV $1.0B
Evidence
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| Why admitted | VC exemption, VC funds reported | Mar 26, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Mar 26, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Mar 26, 2024 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 26, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 26, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 26, 2024 | Fact | Form ADV |
| First Form ADV filing | 2012-03-29 | Mar 26, 2026 | Fact | Form ADV |
| First Form ADV filing | 2012-03-29 | Mar 26, 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 | 2026-03-26 | Mar 26, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-03-26 | Mar 26, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2024-03-26 | Mar 26, 2024 | Fact | Form ADV |
| SEC status | ERA - Active | Mar 26, 2026 | Fact | Form ADV |
| SEC status effective | 2012-03-29 | Mar 26, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Mar 26, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Mar 26, 2024 | Fact | Form ADV |
| Business phone | Mar 26, 2026 | Fact | Form ADV | |
| Business phone | Mar 26, 2024 | Fact | Form ADV | |
| Description | Oct 1, 2026 | Fact | ||
| Description | Sep 16, 2026 | Fact | ||
| Headquarters | Mar 26, 2026 | Fact | Form ADV | |
| Headquarters | Mar 26, 2024 | Fact | Form ADV | |
| Office address | Mar 26, 2026 | Fact | Form ADV | |
| Office address | Mar 26, 2024 | Fact | Form ADV | |
| Self-described type | seed | Oct 1, 2026 | Fact | |
| Self-described type | seed | Sep 16, 2026 | Fact | |
| Legal form | Limited Liability Company | Mar 26, 2026 | Fact | Form ADV |
| Legal form | Limited Liability Company | Mar 26, 2024 | Fact | Form ADV |
| Portfolio page | Oct 1, 2026 | Fact | ||
| Portfolio page | Sep 16, 2026 | Fact | ||
| Private funds reported | 18 | Mar 26, 2026 | Fact | Form ADV |
| Private funds reported | 18 | Mar 26, 2026 | Fact | Form ADV |
| Private funds reported | 16 | Mar 26, 2024 | Fact | Form ADV |
| Private fund gross assets (reported) | $3.1B | Mar 26, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $3.1B | Mar 26, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $1.4B | Mar 26, 2024 | Fact | Form ADV |
| Schedule a diff | sadiff-1 | Mar 26, 2026 | Fact | Form ADV |
| Stated sectors | AI, enterprise software, healthcare, energy, hardware “sector words on the home page” | Oct 1, 2026 | Fact | |
| Stated sectors | AI, enterprise software, energy, hardware “sector words on the home page” | Sep 16, 2026 | Fact | |
| Stated stages | seed “stage words on the home page” | Oct 1, 2026 | Fact | |
| Stated stages | seed “stage words on the home page” | Sep 16, 2026 | Fact | |
| Team page | Oct 1, 2026 | Fact | ||
| Team page | Sep 16, 2026 | Fact | ||
| Venture funds reported | 18 | Mar 26, 2026 | Fact | Form ADV |
| Venture funds reported | 18 | Mar 26, 2026 | Fact | Form ADV |
| Venture funds reported | 16 | Mar 26, 2024 | Fact | Form ADV |
| Website | Sep 12, 2026 | Fact | Form ADV | |
| Website | Mar 26, 2026 | Fact | Form ADV | |
| Website | Mar 26, 2024 | Fact | Form ADV | |
| Site title | Oct 1, 2026 | Fact | ||
| Site title | Sep 16, 2026 | Fact |
How this is scored
Scores, classification basis and filing advisersSeed fund manager, confirmedShowHide
Name or self-description says seed
- importance
- gav: 0.75 · funds: 1 · people: 1 · investments: 0.49 · co investors: 0.54
- active deployment
- investments 12m: 0.38 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: 2026-09-10
- emerging manager
- fund count: 28 · reported gav: $3.1B · first adv filing: 2012-03-29 · years since first filing: 14.5
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Record history
- Organization classification changed2026-09-16
- Merged in2026-09-14
- Adviser's first ADV filing2012-03-29source 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.