DFX Intelligence
March Capital Partners Fund IV, LP
As of · the latest observation of this vehicle; each figure below carries its own filing date
MatureFundraising status unknownADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
1 additional principal, 2 additional placement agents
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
- +137%reported GAV
Reported gross assets rose from $237M to $564M between the Form ADV filings of 1 Apr 2024 and 30 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
- 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
- $600Mwhat may be sold, not what was raised; file 021-419928, sworn by the adviser or filed under this vehicle
- Form D sold
- $585Mas of the filing of Dec 6, 2022, 169 investors
- First sale
- Nov 8, 2021
- Reported GAV
- $564Mon the Form ADV filed Mar 30, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 119
- Reported on ADV
- Mar 22, 2022 to Mar 30, 2026
- Structure
- master
Fundraising evidenceWhat 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 2022-12-06, older than 15 months (fr-1)
evidence dated Dec 6, 2022.
LifecycleMature
vintage 4 to 7 years
age years: 5first sale: Nov 8, 2021vintage year: 2021adv gav as of: Mar 30, 2026vintage basis: Form d first saleform d sold: $585Mform d offering: $600Mform d latest filed at: Dec 6, 2022
The fund's own reporting through time
8 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 22, 2022 | Venture Capital Fund | $81.2M | 68 | $100,000 | 2% | no | |
| Apr 7, 2022 | Venture Capital Fund | $81.2M | 68 | $100,000 | 2% | no | |
| Mar 27, 2023 | Venture Capital Fund | $148M | 119 | $100,000 | 2% | yes | |
| Apr 4, 2023 | Venture Capital Fund | $148M | 119 | $100,000 | 2% | yes | |
| May 30, 2023 | Venture Capital Fund | $148M | 119 | $100,000 | 2% | yes | |
| Mar 24, 2024 | Venture Capital Fund | $237M | 119 | $100,000 | 2% | yes | |
| Apr 1, 2024 | Venture Capital Fund | $237M | 119 | $100,000 | 2% | yes | |
| Mar 30, 2026 | Venture Capital Fund | $564M | 119 | $100,000 | 2% |
Principals and agents
4 principals on Form D, 0 placement agents
- March Capital Partners GP IV, LLC Promoter
- Sumant Mandal Promoter
- Gregory Milken Promoter
Service providers
5 named on Form ADV Schedule D and Form D
- AuditorKPMG · LOS ANGELES, California, United StatesForm ADV filed Mar 30, 2026 reports.adviserinfo.sec.gov
- AdministratorStandish Management · SANTA MONICA, California, United StatesForm ADV filed Mar 30, 2026 reports.adviserinfo.sec.gov
- MarketerABG ADVISORY · NEW YORK, New York, United StatesForm ADV filed Mar 30, 2026 reports.adviserinfo.sec.gov
Limited partners and their reported performanceWhose 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 allocatorsWhat 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.
1 relationship, public pensions and the allocator graph, each counted once
| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| Karsh Family Foundation | FOUNDATION | $970,816 fair value on the foundation's return | reported as of Jun 30, 2025 | Fact IRS Form 990 / 990-PF e-file returns |
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 24, 2024Auditor changed: KPMG replaced BDO, first reported on the Form ADV filed March 24, 2024 (previous filing May 30, 2023)Auditor changed Fact Form ADV
- Dec 6, 2022March Capital Partners Fund IV, L.P. filed Form D/A: $584,826,664 sold of $600,000,000, Venture Capital FundForm D filed Fact Form D
- Mar 22, 2022March Capital Partners Fund IV, LP first reported on Form ADV by March Capital (Venture Capital Fund), GAV $81,246,448Fund first reported on Form ADV Fact Form ADV
- Nov 4, 2021March Capital Partners Fund IV, L.P. filed Form D: no sales yet of $600,000,000, Venture Capital FundForm D filed Fact Form D
Evidence
31 observations
Every observation on this vehicle
- Entity type: Limited Partnership Dec 6, 2022 Fact Form D
- Entity type: Limited Partnership Nov 4, 2021 Fact Form D
- Form D fund type: Venture Capital Fund Dec 6, 2022 Fact Form D
- Form D fund type: Venture Capital Fund Nov 4, 2021 Fact Form D
- Form D industry group: Pooled Investment Fund Dec 6, 2022 Fact Form D
- Form D industry group: Pooled Investment Fund Nov 4, 2021 Fact Form D
- Amendment: true Dec 6, 2022 Fact Form D
- Amendment: false Nov 4, 2021 Fact Form D
- Revenue range (Form D): Decline to Disclose Dec 6, 2022 Fact Form D
- Revenue range (Form D): Decline to Disclose Nov 4, 2021 Fact Form D
- Incorporated: withinFiveYears Dec 6, 2022 Fact Form D
- Incorporated: withinFiveYears Nov 4, 2021 Fact Form D
- Jurisdiction: Delaware Dec 6, 2022 Fact Form D
- Jurisdiction: Delaware Nov 4, 2021 Fact Form D
- Amount sold (Form D): $585M Dec 6, 2022 Fact Form D
- Amount sold (Form D): $0 Nov 4, 2021 Fact Form D
- Offering amount (Form D): $600M Dec 6, 2022 Fact Form D
- Offering amount (Form D): $600M Nov 4, 2021 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Dec 6, 2022 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Nov 4, 2021 Fact Form D
- First sale: 2021-11-08 Dec 6, 2022 Fact Form D
- Investors (Form D): 169 Dec 6, 2022 Fact Form D
- Investors (Form D): 0 Nov 4, 2021 Fact Form D
- Minimum investment (Form D): 0 Dec 6, 2022 Fact Form D
- Minimum investment (Form D): 0 Nov 4, 2021 Fact Form D
- Securities offered: pooled Dec 6, 2022 Fact Form D
- Securities offered: pooled Nov 4, 2021 Fact Form D
- Office address: Dec 6, 2022 Fact Form D
- Office address: Nov 4, 2021 Fact Form D
- Year of incorporation: 2021 Dec 6, 2022 Fact Form D
- Year of incorporation: 2021 Nov 4, 2021 Fact Form D
Relationships across DFX
on 3 other DFX graphs
Across the graphs
March Capital Partners Fund IV, LP is the same institution as 3 records in Allocators, RIA and Wealth and Family Offices.
Allocators1RIA and Wealth1Family Offices1
DFX found 3 relationships across 3 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…
Record history
1 identity change, 4 dated events on the change ledger, latest event first
- Fund folded2026-09-14
- Form D filed2022-12-06source on record
- Fund first reported on ADV2022-03-22source on record
+2 more changes on this record's ledger
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
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.