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.
Funds / JMI Equity Fund X-A,l.p.
JMI Equity Fund X-A,l.p.
Amounts, each with its basis
- Vintage
- 2021basis: form d first sale
- Target
- unknownnot announced
- First close
- unknownnever inferred from a Form D
- Final close
- unknownonly from an announcement or an LP disclosure
- Announced size
- unknown
- Form D offering
- $1.7Bwhat may be sold, not what was raised; file 021-381881, sworn by the adviser or filed under this vehicle
- Form D sold
- $1.5Bas of the filing of Feb 17, 2021, 142 investors
- First sale
- Jan 15, 2021
- Reported GAV
- $1.3Bon the Form ADV filed Mar 28, 2024; the fund's assets, never its size or dry powder
- Owners (ADV)
- 147
- Reported on ADV
- Mar 16, 2021 to Mar 28, 2024
Fundraising evidence
Unknown
latest Form D 2021-02-17, older than 15 months (fr-1)
evidence dated Feb 17, 2021. A Form D offering is permission to sell, not a fund in market; an amount sold is never a close; an evergreen offering amended every year is not a raise.
Lifecycle
Mature
vintage 4 to 7 years
age years: 5first sale: 2021-01-15vintage year: $2,021adv gav as of: 2024-03-28vintage basis: form_d_first_saleform d sold usd: $1.5Bform d offering usd: $1.7Bform d latest filed at: 2021-02-17
The fund's own reporting through time
6 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 16, 2021 | Private Equity Fund | $1.1B | 146 | $75,000 | 5% | yes | |
| Nov 1, 2021 | Private Equity Fund | $1.1B | 146 | $75,000 | 5% | yes | |
| Mar 25, 2022 | Private Equity Fund | $1.4B | 147 | $75,000 | 5% | yes | |
| Apr 22, 2022 | Private Equity Fund | $1.4B | 147 | $75,000 | 5% | yes | |
| Mar 22, 2023 | Private Equity Fund | $1.4B | 147 | $75,000 | 5% | yes | |
| Mar 28, 2024 | Private Equity Fund | $1.3B | 147 | $75,000 | 5% | yes |
Principals and agents
12 principals on Form D, 0 placement agents
- Randy E. Guttman Executive Officer
- JMI Associates X, L.L.C. Executive Officer
- Brian J Hersman Executive Officer
- Harry S Gruner Executive Officer
- Paul V Barber Executive Officer
- Peter C Arrowsmith Executive Officer
- Matthew R Emery Executive Officer
- Kathy R Fields Executive Officer
- David M Greenberg Executive Officer
- Robert P Nye IV Executive Officer
- Suken P Vakil Executive Officer
- Larry V Contrella Executive Officer
Limited partners and their reported performance
2 public LP reports
| LP | Vintage (LP’s) | Committed | Paid in | Distributed | Remaining value | Net IRR | Multiple | As of |
|---|---|---|---|---|---|---|---|---|
| Alaska Permanent Fund Corporation apfc.org | 2021 | $60.0M | n/a | n/a | n/a | not meaningful yet | unknown | Dec 31, 2025 |
| California State Teachers' Retirement System calstrs.com | 2021 | $170M | $172M | $17.1M | $233M | 13.7% | 1.5x | Jun 30, 2025 |
Each row is the LP’s own number: its cash flows and its valuation policy as of its reporting date, not the fund’s. Net IRR is printed only when the LP prints one. The vintage is the LP’s definition (CalPERS: year of its first cash flow; WSIB: year of its initial investment).
Investments attributed to this vehicle
0
No investment attributed to this vehicle. The firm’s investments sit on the firm; a fund gets one only when a source names the vehicle.
Timeline
6 events
- Dec 31, 2025APFC reports JMI Equity Fund X-A LP: $60,000,000 committed, vintage 2021LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
- Jun 30, 2025CalSTRS reports JMI Equity Fund X A L.P.: $170,000,000 committed, vintage 2021, net IRR 13.7%, 1.46xLP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
- Jun 30, 2025CalSTRS reports JMI Equity Fund X A L.P.: $170,000,000 committed, vintage 2021, net IRR 13.7%, 1.46xLP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
- Mar 16, 2021JMI Equity Fund X-A,l.p. first reported on Form ADV by JMI Management, Inc. (Private Equity Fund), GAV $1,055,652,778Fund first reported on Form ADV Fact SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Feb 17, 2021JMI Equity Fund X-A, L.P. filed Form D/A: $1,482,425,000 sold of $1,700,000,000, Private Equity FundForm D filed Fact SEC EDGAR Form D data sets (quarterly)
- Dec 1, 2020JMI Equity Fund X-A, L.P. filed Form D: no sales yet of $1,300,000,000, Private Equity FundForm D filed Fact SEC EDGAR Form D data sets (quarterly)
Evidence
31 observations
Every observation on this vehicle
- Entity type: Limited Partnership Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Entity type: Limited Partnership Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- Form D fund type: Private Equity Fund Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Form D fund type: Private Equity Fund Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- Form D industry group: Pooled Investment Fund Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Form D industry group: Pooled Investment Fund Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- Amendment: true Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Amendment: false Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- Revenue range (Form D): Not Applicable Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Revenue range (Form D): Not Applicable Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- Incorporated: withinFiveYears Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Incorporated: withinFiveYears Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- Jurisdiction: DELAWARE Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Jurisdiction: DELAWARE Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- Amount sold (Form D): $1.5B Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Amount sold (Form D): $0 Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- Offering amount (Form D): $1.7B Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Offering amount (Form D): $1.3B Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- Exemptions: 06b, 3C, 3C.7 Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Exemptions: 06b, 3C, 3C.7 Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- First sale: 2021-01-15 Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Investors (Form D): 142 Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Investors (Form D): 0 Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- Minimum investment (Form D): 75,000 Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Minimum investment (Form D): 0 Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- Securities offered: pooled Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Securities offered: pooled Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- Office address: 100 INTERNATIONAL DRIVE, SUITE 19100, BALTIMORE, MD, 21202 Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Office address: 100 INTERNATIONAL DRIVE, SUITE 19100, BALTIMORE, MD, 21202 Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)
- Year of incorporation: 2020 Feb 17, 2021 Fact SEC EDGAR Form D data sets (quarterly)
- Year of incorporation: 2020 Dec 1, 2020 Fact SEC EDGAR Form D data sets (quarterly)