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.

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Funds / U•• 2•••• L•

U•• 2•••• L•

MatureClosed to new capitalFundADV: Venture Capital FundU•••• S••••• V•••••••
Amounts, each with its basis
Vintage
2019basis: 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
$191Mwhat may be sold, not what was raised; joined by exact issuer name, corroborated by a person on the adviser's roster named on the filing, the filing's signer sitting on the adviser's roster, the issuer filing from the adviser's state, not sworn by the adviser (confidence 0.85); file 021-329129
Form D sold
$191Mas of the filing of Dec 28, 2018, 113 investors
First sale
Dec 14, 2018
Reported GAV
$484Mon the Form ADV filed Mar 29, 2024; the fund's assets, never its size or dry powder
Owners (ADV)
115
Reported on ADV
Mar 31, 2020 to Mar 29, 2024
Fundraising evidence
Closed to new capital
Form D filed or amended 2018-12-28: the stated $190.6M offering reported fully sold (fr-1)
evidence dated Dec 28, 2018. 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: 7first sale: 2018-12-14vintage year: $2,019adv gav as of: 2024-03-29vintage basis: name_yearform d sold usd: $191Mform d offering usd: $191Mform d latest filed at: 2018-12-28
The fund's own reporting through time
5 Form ADV filings
FiledTypeGross asset value OwnersMin. investmentAdviser-ownedAudit
Mar 31, 2020Venture Capital Fund$186M
1154%yes
Mar 30, 2021Venture Capital Fund$251M
1154%yes
Mar 31, 2022Venture Capital Fund$703M
1154%yes
Mar 30, 2023Venture Capital Fund$452M
1154%yes
Mar 29, 2024Venture Capital Fund$484M
1154%yes
Principals and agents
5 principals on Form D, 0 placement agents
Limited partners and their reported performance
1 public LP report
LPVintage (LP’s)CommittedPaid inDistributedRemaining valueNet IRRMultipleAs of
O••••• P••••• E•••••••• R••••••••• F••• oregon.gov2019$15.0M$11.9M$17.5M$14.6M29.7%2.7xMar 31, 2026

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
2 events
  1. Mar 31, 2020
    U•• 2•••• L• first reported on Form ADV by U•••• S••••• V••••••• (Venture Capital Fund), GAV $185,919,189
    Fund 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)
  2. Dec 28, 2018
    U•• 2•••• L• filed Form D: $190,575,000 sold of $190,575,000, Venture Capital Fund
    Form D filed Fact SEC EDGAR Form D data sets (quarterly)
Evidence
16 observations
Every observation on this vehicle