DFX Intelligence
M25 Fund Iv-A, L.P.
As of · the latest observation of this vehicle; each figure below carries its own filing date
Active deploymentFundraising status unknownADV: Venture Capital FundFeeder or parallel vehicle
A feeder, parallel or offshore vehicle of a main fund; its assets may overlap the main fund's.
As of · the latest observation of this vehicle; each figure below carries its own filing date
1 additional placement agent
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
- +14%reported GAV
Reported gross assets rose from $4.37M to $4.96M 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
- 2022basis: 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
- $10.0Mwhat may be sold, not what was raised; file 021-467770, sworn by the adviser or filed under this vehicle
- Form D sold
- $4.4Mas of the filing of Dec 10, 2024, 20 investors
- First sale
- Dec 22, 2022
- Reported GAV
- $5.0Mon the Form ADV filed Mar 31, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 21
- Reported on ADV
- Mar 6, 2023 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 2024-12-10, older than 15 months (fr-1)
evidence dated Dec 10, 2024.
Lifecycle
Active deployment
Lifecycle
vintage 2 to 4 years
age years: 4first sale: Dec 22, 2022vintage year: 2022adv gav as of: Mar 31, 2026vintage basis: Form d first saleform d sold: $4.4Mform d offering: $10.0Mform d latest filed at: Dec 10, 2024
The fund's own reporting through time
4 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 6, 2023 | Venture Capital Fund | $3.2M | 16 | $250,000 | 1% | yes | |
| Mar 15, 2024 | Venture Capital Fund | $4.4M | 20 | $250,000 | 1% | yes | |
| May 7, 2024 | Venture Capital Fund | $4.4M | 20 | $250,000 | 1% | yes | |
| Mar 31, 2026 | Venture Capital Fund | $5.0M | 21 | $250,000 | 1% |
Principals and agents
2 principals on Form D, 0 placement agents
- Victor Gutwein Executive Officer
- Delali Michael Asem Executive Officer
Service providers
4 named on Form ADV Schedule D and Form D
- AuditorPLANTE MORAN · CHICAGO, Illinois, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
- AdministratorE78 PARTNERS, LLC · CHICAGO, Illinois, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
- CustodianCITIZENS BANK · PROVIDENCE, Rhode Island, 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
5 events
- Dec 10, 2024M25 Fund IV-A, L.P. filed Form D/A: $4,375,000 sold of $10,000,000, Venture Capital FundForm D filed Fact Form D
- 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
- Dec 15, 2023M25 Fund IV-A, L.P. filed Form D/A: $4,325,000 sold of $10,000,000, Venture Capital FundForm D filed Fact Form D
- Mar 6, 2023M25 Fund Iv-A, L.P. first reported on Form ADV by M25 (Venture Capital Fund), GAV $3,175,000Fund first reported on Form ADV Fact Form ADV
- Dec 16, 2022M25 Fund IV-A, L.P. filed Form D: no sales yet of $10,000,000, Venture Capital FundForm D filed Fact Form D
Evidence
47 observations
Every observation on this vehicle
- Entity type: Limited Partnership Dec 10, 2024 Fact Form D
- Entity type: Limited Partnership Dec 15, 2023 Fact Form D
- Entity type: Limited Partnership Dec 16, 2022 Fact Form D
- Form D fund type: Venture Capital Fund Dec 10, 2024 Fact Form D
- Form D fund type: Venture Capital Fund Dec 15, 2023 Fact Form D
- Form D fund type: Venture Capital Fund Dec 16, 2022 Fact Form D
- Form D industry group: Pooled Investment Fund Dec 10, 2024 Fact Form D
- Form D industry group: Pooled Investment Fund Dec 15, 2023 Fact Form D
- Form D industry group: Pooled Investment Fund Dec 16, 2022 Fact Form D
- Amendment: true Dec 10, 2024 Fact Form D
- Amendment: true Dec 15, 2023 Fact Form D
- Amendment: false Dec 16, 2022 Fact Form D
- Revenue range (Form D): Decline to Disclose Dec 10, 2024 Fact Form D
- Revenue range (Form D): Decline to Disclose Dec 15, 2023 Fact Form D
- Revenue range (Form D): Decline to Disclose Dec 16, 2022 Fact Form D
- Incorporated: withinFiveYears Dec 10, 2024 Fact Form D
- Incorporated: withinFiveYears Dec 15, 2023 Fact Form D
- Incorporated: withinFiveYears Dec 16, 2022 Fact Form D
- Jurisdiction: Delaware Dec 10, 2024 Fact Form D
- Jurisdiction: Delaware Dec 15, 2023 Fact Form D
- Jurisdiction: Delaware Dec 16, 2022 Fact Form D
- Amount sold (Form D): $4.4M Dec 10, 2024 Fact Form D
- Amount sold (Form D): $4.3M Dec 15, 2023 Fact Form D
- Amount sold (Form D): $0 Dec 16, 2022 Fact Form D
- Offering amount (Form D): $10.0M Dec 10, 2024 Fact Form D
- Offering amount (Form D): $10.0M Dec 15, 2023 Fact Form D
- Offering amount (Form D): $10.0M Dec 16, 2022 Fact Form D
- Exemptions: 06b, 3C, 3C.1 Dec 10, 2024 Fact Form D
- Exemptions: 06b, 3C, 3C.1 Dec 15, 2023 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Dec 16, 2022 Fact Form D
- First sale: 2022-12-22 Dec 10, 2024 Fact Form D
- First sale: 2022-12-22 Dec 15, 2023 Fact Form D
- Investors (Form D): 20 Dec 10, 2024 Fact Form D
- Investors (Form D): 19 Dec 15, 2023 Fact Form D
- Investors (Form D): 0 Dec 16, 2022 Fact Form D
- Minimum investment (Form D): 0 Dec 10, 2024 Fact Form D
- Minimum investment (Form D): 0 Dec 15, 2023 Fact Form D
- Minimum investment (Form D): 0 Dec 16, 2022 Fact Form D
- Securities offered: Equity, pooled Dec 10, 2024 Fact Form D
- Securities offered: Equity, pooled Dec 15, 2023 Fact Form D
- Securities offered: Equity, pooled Dec 16, 2022 Fact Form D
- Office address: Dec 10, 2024 Fact Form D
- Office address: Dec 15, 2023 Fact Form D
- Office address: Dec 16, 2022 Fact Form D
- Year of incorporation: 2022 Dec 10, 2024 Fact Form D
- Year of incorporation: 2022 Dec 15, 2023 Fact Form D
- Year of incorporation: 2022 Dec 16, 2022 Fact Form D
Relationships across DFX
on 1 other DFX graph
Across the graphs
M25 Fund Iv-A, L.P. 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
4 dated events on the change ledger, latest event first
- Form D filed2024-12-10source on record
- Form D filed2023-12-15source on record
- Fund first reported on ADV2023-03-06source on record
+1 more change 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.