DFX Intelligence
Positive Sum Capital, L.P.
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
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
- +118%reported GAV
Reported gross assets rose from $67.1M to $147M between the Form ADV filings of 6 Mar 2024 and 27 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
- 2020basis: 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
- $125Mwhat may be sold, not what was raised; file 021-1825089, 021-377813, sworn by the adviser or filed under this vehicle
- Form D sold
- $63.5Mas of the filing of Oct 14, 2020, 33 investors
- First sale
- Oct 9, 2020
- Reported GAV
- $147Mon the Form ADV filed Mar 27, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 47
- Reported on ADV
- Dec 8, 2022 to Mar 27, 2026
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 2020-10-14, older than 15 months (fr-1)
evidence dated Oct 14, 2020.
LifecycleMature
vintage 4 to 7 years
age years: 6first sale: Oct 9, 2020vintage year: 2020adv gav as of: Mar 27, 2026vintage basis: Form d first saleform d sold: $63.5Mform d offering: $125Mform d latest filed at: Oct 14, 2020
The fund's own reporting through time
9 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Nov 9, 2020 | Venture Capital Fund | $67.5M | 88 | $500,000 | 4% | yes | |
| Nov 9, 2020 | Venture Capital Fund | $67.5M | 88 | $500,000 | 4% | yes | |
| Mar 31, 2021 | Venture Capital Fund | $80.5M | 90 | $500,000 | 3% | yes | |
| Aug 23, 2021 | Venture Capital Fund | $80.5M | 90 | $500,000 | 3% | yes | |
| Nov 1, 2021 | Venture Capital Fund | $80.5M | 90 | $500,000 | 3% | yes | |
| Dec 8, 2022 | Venture Capital Fund | $67.1M | 45 | $50,000 | 2% | yes | |
| Mar 7, 2023 | Venture Capital Fund | $67.1M | 45 | $50,000 | 2% | yes | |
| Mar 6, 2024 | Venture Capital Fund | $67.1M | 45 | $50,000 | 2% | yes | |
| Mar 27, 2026 | Venture Capital Fund | $147M | 47 | $50,000 | 2% |
Principals and agents
1 principal on Form D, 0 placement agents
- Patrick W O'Shaughnessy Executive Officer/Promoter
Service providers
5 named on Form ADV Schedule D and Form D
- AuditorFrank, Rimerman + Co. · SAN FRANCISCO, California, United StatesForm ADV filed Mar 27, 2026 reports.adviserinfo.sec.gov
- AdministratorCarta · SAN FRANCISCO, California, United StatesForm ADV filed Mar 27, 2026 reports.adviserinfo.sec.gov
- AdministratorTOWER FUND SERVICES · OCEANPORT, New Jersey, United StatesForm ADV filed Nov 1, 2021 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.
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
- Feb 28, 2025Auditor changed: Frank, Rimerman + Co. replaced SPICER JEFFRIES LLP, first reported on the Form ADV filed February 28, 2025 (previous filing March 6, 2024)Auditor changed Fact Form ADV
- Dec 17, 2024Positive Sum Capital LP no longer reported on Form ADV by O'Shaughnessy Asset Management, LLCFund no longer reported Inference Form ADV
- Dec 8, 2022Positive Sum Capital, L.P. first reported on Form ADV by Positive Sum Advisors LLC (Venture Capital Fund), GAV $67,148,000Fund first reported on Form ADV Fact Form ADV
- Nov 9, 2020Positive Sum Capital LP first reported on Form ADV by O'Shaughnessy Asset Management, LLC (Venture Capital Fund), GAV $67,500,000Fund first reported on Form ADV Fact Form ADV
- Oct 14, 2020Positive Sum Capital, L.P. filed Form D: $63,500,000 sold of $125,000,000, Venture Capital FundForm D filed Fact Form D
Evidence
16 observations
Every observation on this vehicle
- Entity type: Limited Partnership Oct 14, 2020 Fact Form D
- Form D fund type: Venture Capital Fund Oct 14, 2020 Fact Form D
- Form D industry group: Pooled Investment Fund Oct 14, 2020 Fact Form D
- Amendment: false Oct 14, 2020 Fact Form D
- Revenue range (Form D): No Revenues Oct 14, 2020 Fact Form D
- Incorporated: withinFiveYears Oct 14, 2020 Fact Form D
- Jurisdiction: Delaware Oct 14, 2020 Fact Form D
- Amount sold (Form D): $63.5M Oct 14, 2020 Fact Form D
- Offering amount (Form D): $125M Oct 14, 2020 Fact Form D
- Exemptions: 06c Oct 14, 2020 Fact Form D
- First sale: 2020-10-09 Oct 14, 2020 Fact Form D
- Investors (Form D): 33 Oct 14, 2020 Fact Form D
- Minimum investment (Form D): 500,000 Oct 14, 2020 Fact Form D
- Securities offered: pooled Oct 14, 2020 Fact Form D
- Office address: Oct 14, 2020 Fact Form D
- Year of incorporation: 2020 Oct 14, 2020 Fact Form D
Relationships across DFX
on 1 other DFX graph
Across the graphs
Positive Sum Capital, L.P. is the same institution as 2 records in RIA and Wealth.
RIA and Wealth2
DFX found 2 relationships across 1 dataset
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.
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Record history
4 dated events on the change ledger, latest event first
- Fund dropped from ADV2024-12-17source on record
- Fund first reported on ADV2022-12-08source on record
- Fund first reported on ADV2020-11-09source 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.