DFX Intelligence
2016 M25 Group Fund 2, LLC
As of · the latest observation of this vehicle; each figure below carries its own filing date
HarvestFundraising status unknownADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
What matters now
- +134%reported GAV
Reported gross assets rose from $11M to $25.8M between the Form ADV filings of 7 May 2024 and 31 Mar 2026.
The fund's assets as the adviser swears them, never its size or dry powder.
Drawing the relationship network…
Amounts, each with its basis
- Vintage
- 2016basis: name year
- 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
- $25.0Mwhat may be sold, not what was raised; file 021-258912, sworn by the adviser or filed under this vehicle
- Form D sold
- $11.0Mas of the filing of Apr 17, 2017, 44 investors
- First sale
- Jun 30, 2016
- Reported GAV
- $25.8Mon the Form ADV filed Mar 31, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 54
- Reported on ADV
- Jul 8, 2019 to Mar 31, 2026
Fundraising evidence
What counts as raisingA 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.Unknown
latest Form D 2017-04-17, older than 15 months (fr-1)
evidence dated Apr 17, 2017.
Lifecycle
Harvest
Lifecycle
vintage over 7 years, still reported
age years: 10first sale: Jun 30, 2016vintage year: 2016adv gav as of: Mar 31, 2026vintage basis: Name yearform d sold: $11.0Mform d offering: $25.0Mform d latest filed at: Apr 17, 2017
The fund's own reporting through time
8 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Jul 8, 2019 | Venture Capital Fund | $11.0M | 54 | $100,000 | 1% | no | |
| Feb 26, 2020 | Venture Capital Fund | $11.0M | 54 | $100,000 | 1% | no | |
| May 9, 2021 | Venture Capital Fund | $11.0M | 54 | $100,000 | 1% | no | |
| Feb 28, 2022 | Venture Capital Fund | $11.0M | 54 | $100,000 | 1% | no | |
| Mar 6, 2023 | Venture Capital Fund | $11.0M | 54 | $100,000 | 1% | no | |
| Mar 15, 2024 | Venture Capital Fund | $11.0M | 54 | $100,000 | 1% | no | |
| May 7, 2024 | Venture Capital Fund | $11.0M | 54 | $100,000 | 1% | no | |
| Mar 31, 2026 | Venture Capital Fund | $25.8M | 54 | $100,000 | 1% |
Principals and agents
3 principals on Form D, 0 placement agents
- M25 Group LLC Director
- Victor Gutwein Promoter
- Mike Asem Promoter
Service providers
2 named on Form ADV Schedule D and Form D
- AdministratorE78 PARTNERS, LLC · CHICAGO, Illinois, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
- CustodianJPMorgan · NEWARK, Delaware, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
Limited partners and their reported performance
Whose numbers these areEach 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).0 public LP reports
No public LP has reported this vehicle. The LP tape is read from public pension disclosures (see Limited partners); a fund appears here only when an LP’s report names it.
Known LPs and allocators
What these amounts and dates areA commitment date prints only when the source printed one; otherwise the row carries the date of the report that listed it. A foundation’s 990-PF line is a holding at fair value on its return, never a commitment.0 relationships, public pensions and the allocator graph, each counted once
No allocator names this vehicle in a public disclosure DFX holds: pension reports, foundation 990-PF returns or endowment disclosures.
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
4 events
- Mar 15, 2024Administrator changed: E78 PARTNERS, LLC replaced STERN CASSELLO & ASSOCIATES, first reported on the Form ADV filed March 15, 2024 (previous filing March 6, 2023)Administrator changed Fact Form ADV
- Jul 8, 20192016 M25 Group Fund 2, LLC first reported on Form ADV by M25 (Venture Capital Fund), GAV $11,000,000Fund first reported on Form ADV Fact Form ADV
- Apr 17, 20172016 M25 Group Fund 2, LLC filed Form D/A: $11,000,000 sold of $25,000,000, Venture Capital FundForm D filed Fact Form D
- Mar 9, 20162016 M25 Group Fund 2, LLC filed Form D: no sales yet of $25,000,000, Venture Capital FundForm D filed Fact Form D
Evidence
31 observations
Every observation on this vehicle
- Entity type: Limited Liability Company Apr 17, 2017 Fact Form D
- Entity type: Limited Liability Company Mar 9, 2016 Fact Form D
- Form D fund type: Venture Capital Fund Apr 17, 2017 Fact Form D
- Form D fund type: Venture Capital Fund Mar 9, 2016 Fact Form D
- Form D industry group: Pooled Investment Fund Apr 17, 2017 Fact Form D
- Form D industry group: Pooled Investment Fund Mar 9, 2016 Fact Form D
- Amendment: true Apr 17, 2017 Fact Form D
- Amendment: false Mar 9, 2016 Fact Form D
- Revenue range (Form D): $5,000,001 - $25,000,000 Apr 17, 2017 Fact Form D
- Revenue range (Form D): $5,000,001 - $25,000,000 Mar 9, 2016 Fact Form D
- Incorporated: withinFiveYears Apr 17, 2017 Fact Form D
- Incorporated: withinFiveYears Mar 9, 2016 Fact Form D
- Jurisdiction: Indiana Apr 17, 2017 Fact Form D
- Jurisdiction: Indiana Mar 9, 2016 Fact Form D
- Amount sold (Form D): $11.0M Apr 17, 2017 Fact Form D
- Amount sold (Form D): $0 Mar 9, 2016 Fact Form D
- Offering amount (Form D): $25.0M Apr 17, 2017 Fact Form D
- Offering amount (Form D): $25.0M Mar 9, 2016 Fact Form D
- Exemptions: 06b, 3C, 3C.1 Apr 17, 2017 Fact Form D
- Exemptions: 06b, 3C, 3C.1 Mar 9, 2016 Fact Form D
- First sale: 2016-06-30 Apr 17, 2017 Fact Form D
- Investors (Form D): 44 Apr 17, 2017 Fact Form D
- Investors (Form D): 0 Mar 9, 2016 Fact Form D
- Minimum investment (Form D): 0 Apr 17, 2017 Fact Form D
- Minimum investment (Form D): 0 Mar 9, 2016 Fact Form D
- Securities offered: Equity, pooled Apr 17, 2017 Fact Form D
- Securities offered: Equity, pooled Mar 9, 2016 Fact Form D
- Office address: Apr 17, 2017 Fact Form D
- Office address: Mar 9, 2016 Fact Form D
- Year of incorporation: 2016 Apr 17, 2017 Fact Form D
- Year of incorporation: 2016 Mar 9, 2016 Fact Form D
Relationships across DFX
on 1 other DFX graph
Across the graphs
2016 M25 Group Fund 2, 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…
Record history
3 dated events on the change ledger, latest event first
- Fund first reported on ADV2019-07-08source on record
- Form D filed2017-04-17source on record
- Form D filed2016-03-09source 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.