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 / A••••••• L••• S•••••• V••••••• S••• F••• I••• L•••

A••••••• L••• S•••••• V••••••• S••• F••• I••• L•••

MatureClosed to new capitalFundADV: Venture Capital FundA••••••• V••••••• M••••••••• L••Delaware
Amounts, each with its basis
Vintage
2019basis: 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
$50.0Mwhat may be sold, not what was raised; file 021-331039, sworn by the adviser or filed under this vehicle
Form D sold
$50.0Mas of the filing of Jan 22, 2019, 1 investors
First sale
Jan 16, 2019
Reported GAV
$31.0Mon the Form ADV filed Mar 31, 2024; the fund's assets, never its size or dry powder
Owners (ADV)
2
Reported on ADV
Apr 1, 2020 to Mar 31, 2024
Fundraising evidence
Closed to new capital
Form D filed or amended 2019-01-22: the stated $50.0M offering reported fully sold (fr-1)
evidence dated Jan 22, 2019. 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: 2019-01-16vintage year: $2,019adv gav as of: 2024-03-31vintage basis: form_d_first_saleform d sold usd: $50.0Mform d offering usd: $50.0Mform d latest filed at: 2019-01-22
The fund's own reporting through time
5 Form ADV filings
FiledTypeGross asset value OwnersMin. investmentAdviser-ownedAudit
Apr 1, 2020Venture Capital Fund$11.5M
21%yes
Mar 30, 2021Venture Capital Fund$30.5M
21%yes
Mar 31, 2022Venture Capital Fund$76.5M
21%yes
Mar 31, 2023Venture Capital Fund$33.7M
21%yes
Mar 31, 2024Venture Capital Fund$31.0M
21%yes
Principals and agents
3 principals on Form D, 0 placement agents
  • A••••••• V••••••• M••••••••• L•• Director
  • A••••••• L••• S•••••• V••••••• I••• L•• Director
  • D•••• M••• Director
Limited partners and their reported performance
1 public LP report
LPVintage (LP’s)CommittedPaid inDistributedRemaining valueNet IRRMultipleAs of
A••••• P•••••••• F••• C••••••••• apfc.org2019$45.0Mn/an/an/anot meaningful yetunknownDec 31, 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
3 events
  1. Dec 31, 2025
    APFC reports A••••••• L••• S•••••• V••••••• S••• F••• I•• L•: $45,000,000 committed, vintage 2019
    LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
  2. Apr 1, 2020
    A••••••• L••• S•••••• V••••••• S••• F••• I••• L••• first reported on Form ADV by A••••••• V••••••• M••••••••• L•• (Venture Capital Fund), GAV $11,501,190
    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)
  3. Jan 22, 2019
    A••••••• L••• S•••••• V••••••• S••• F••• I••• L••• filed Form D: $50,000,000 sold of $50,000,000, Venture Capital Fund
    Form D filed Fact SEC EDGAR Form D data sets (quarterly)
Evidence
32 observations
Every observation on this vehicle