DFX Intelligence
Caraway 2020, a Series of Republic Master Fund, LP
As of · the latest observation of this vehicle; each figure below carries its own filing date
MatureClosed to new capitalADV: Venture Capital FundSingle-purpose vehicle
A single-purpose vehicle, usually formed for one deal.
As of · the latest observation of this vehicle; each figure below carries its own filing date
2 additional principals, 4 events
Every relationship, signal and contact on this record, with the source on each.
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What matters now
- -52%reported GAV
Reported gross assets fell from $3.79M to $1.8M between the Form ADV filings of 22 Aug 2024 and 12 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: 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
- $423,000what may be sold, not what was raised; file 021-359857, sworn by the adviser or filed under this vehicle
- Form D sold
- $423,000as of the filing of Feb 5, 2020, 4 investors
- First sale
- Feb 3, 2020
- Reported GAV
- $1.8Mon the Form ADV filed Mar 12, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 12
- Reported on ADV
- Nov 29, 2021 to Mar 12, 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.
Closed to new capital
Form D filed or amended 2020-02-05: the stated $423,000 offering reported fully sold (fr-1)
evidence dated Feb 5, 2020.
LifecycleMature
vintage 4 to 7 years
age years: 6first sale: Feb 3, 2020vintage year: 2020adv gav as of: Mar 12, 2026vintage basis: Name yearform d sold: $423,000form d offering: $423,000form d latest filed at: Feb 5, 2020
The fund's own reporting through time
16 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 26, 2020 | Venture Capital Fund | $428,000 | 5 | $10,000 | 0% | no | |
| Mar 31, 2021 | Venture Capital Fund | $574,070 | 12 | $10,000 | 14% | no | |
| Jun 29, 2021 | Venture Capital Fund | $555,000 | 12 | $10,000 | 14% | no | |
| Nov 29, 2021 | Venture Capital Fund | $555,000 | 12 | $10,000 | 14% | no | |
| Mar 31, 2022 | Venture Capital Fund | $16.9M | 15 | $3,070 | 17% | yes | |
| Dec 19, 2022 | Venture Capital Fund | $16.9M | 15 | $3,070 | 17% | yes | |
| Dec 20, 2022 | Venture Capital Fund | $16.9M | 15 | $3,070 | 17% | yes | |
| Jan 26, 2023 | Venture Capital Fund | $16.9M | 15 | $3,070 | 17% | yes | |
| Mar 31, 2023 | Venture Capital Fund | $3.8M | 12 | $10,000 | 14% | yes | |
| May 24, 2023 | Venture Capital Fund | $3.8M | 12 | $10,000 | 14% | yes | |
| Aug 30, 2023 | Venture Capital Fund | $3.8M | 12 | $10,000 | 14% | yes | |
| Feb 23, 2024 | Venture Capital Fund | $3.8M | 12 | $10,000 | 14% | yes | |
| Mar 29, 2024 | Venture Capital Fund | $3.8M | 12 | $10,000 | 14% | yes | |
| May 17, 2024 | Venture Capital Fund | $3.8M | 12 | $10,000 | 14% | yes | |
| Aug 22, 2024 | Venture Capital Fund | $3.8M | 12 | $10,000 | 14% | yes | |
| Mar 12, 2026 | Venture Capital Fund | $1.8M | 12 | $10,000 | 14% |
Principals and agents
5 principals on Form D, 0 placement agents
- Richard Thoms Executive Officer
- Jeremy Neilson Executive Officer
- LLC Assure Fund Management II Director
Service providers
3 named on Form ADV Schedule D and Form D
- AdministratorNAV CONSULTING, INC. · OAKBROOK TERRACE, Illinois, United StatesForm ADV filed Mar 12, 2026 reports.adviserinfo.sec.gov
- CustodianCHOICE FINANCIAL GROUP · FARGO, North Dakota, United StatesForm ADV filed Mar 12, 2026 reports.adviserinfo.sec.gov
- CustodianGRASSHOPPER BANK, NATIONAL ASSOCIATION · NEW YORK, New York, United StatesForm ADV filed Mar 12, 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.
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
9 events
- Mar 12, 2026Custodian changed: CHOICE FINANCIAL GROUP, GRASSHOPPER BANK, NATIONAL ASSOCIATION replaced LEWIS & CLARK BANCORP, first reported on the Form ADV filed March 12, 2026 (previous filing March 28, 2025)Custodian changed Fact Form ADV
- Mar 29, 2024Administrator changed: NAV CONSULTING, INC. replaced REPUBLIC FUND ADMIN LLC, first reported on the Form ADV filed March 29, 2024 (previous filing February 23, 2024)Administrator changed Fact Form ADV
- Mar 29, 2024Auditor changed: RSM replaced HAYNIE & COMPANY, first reported on the Form ADV filed March 29, 2024 (previous filing February 23, 2024)Auditor changed Fact Form ADV
- Mar 29, 2024Custodian changed: LEWIS & CLARK BANCORP replaced EVOLVE BANCORP, INC., first reported on the Form ADV filed March 29, 2024 (previous filing February 23, 2024)Custodian changed Fact Form ADV
- Mar 31, 2023Custodian changed: EVOLVE BANCORP, INC. replaced Western Alliance / Bridge Bank, first reported on the Form ADV filed March 31, 2023 (previous filing January 26, 2023)Custodian changed Fact Form ADV
Evidence
50 observations
Every observation on this vehicle
- Entity type: Limited Partnership Fact Form D
- Entity type: Limited Partnership Feb 24, 2020 Fact Form D
- Entity type: Limited Partnership Feb 5, 2020 Fact Form D
- Form D fund type: Other Investment Fund Fact Form D
- Form D fund type: Other Investment Fund Feb 24, 2020 Fact Form D
- Form D fund type: Other Investment Fund Feb 5, 2020 Fact Form D
- Form D industry group: Pooled Investment Fund Fact Form D
- Form D industry group: Pooled Investment Fund Feb 24, 2020 Fact Form D
- Form D industry group: Pooled Investment Fund Feb 5, 2020 Fact Form D
- Amendment: true Fact Form D
- Amendment: false Fact Form D
- Amendment: true Feb 24, 2020 Fact Form D
- Amendment: false Feb 5, 2020 Fact Form D
- Incorporated: withinFiveYears Fact Form D
- Incorporated: withinFiveYears Feb 24, 2020 Fact Form D
- Incorporated: withinFiveYears Feb 5, 2020 Fact Form D
- Jurisdiction: Delaware Fact Form D
- Jurisdiction: Delaware Feb 24, 2020 Fact Form D
- Jurisdiction: Delaware Feb 5, 2020 Fact Form D
- Amount sold (Form D): $574,070 Fact Form D
- Amount sold (Form D): $423,000 Fact Form D
- Amount sold (Form D): $574,070 Feb 24, 2020 Fact Form D
- Amount sold (Form D): $423,000 Feb 5, 2020 Fact Form D
- Offering amount (Form D): $574,070 Fact Form D
- Offering amount (Form D): $423,000 Fact Form D
- Offering amount (Form D): $574,070 Feb 24, 2020 Fact Form D
- Offering amount (Form D): $423,000 Feb 5, 2020 Fact Form D
- Exemptions: 06b, 3C.1 Fact Form D
- Exemptions: 06b, 3C.1 Feb 24, 2020 Fact Form D
- Exemptions: 06b, 3C.1 Feb 5, 2020 Fact Form D
- First sale: 2020-02-03 Fact Form D
- First sale: 2020-02-03 Feb 24, 2020 Fact Form D
- First sale: 2020-02-03 Feb 5, 2020 Fact Form D
- Investors (Form D): 11 Fact Form D
- Investors (Form D): 4 Fact Form D
- Investors (Form D): 11 Feb 24, 2020 Fact Form D
- Investors (Form D): 4 Feb 5, 2020 Fact Form D
- Minimum investment (Form D): 10,000 Fact Form D
- Minimum investment (Form D): 10,000 Feb 24, 2020 Fact Form D
- Minimum investment (Form D): 10,000 Feb 5, 2020 Fact Form D
- Securities offered: pooled Fact Form D
- Securities offered: pooled Feb 24, 2020 Fact Form D
- Securities offered: pooled Feb 5, 2020 Fact Form D
- Office address: Fact Form D
- Office address: Feb 24, 2020 Fact Form D
- Office address: Feb 5, 2020 Fact Form D
- Year of incorporation: 2019 Fact Form D
- Year of incorporation: 2020 Fact Form D
- Year of incorporation: 2019 Feb 24, 2020 Fact Form D
- Year of incorporation: 2020 Feb 5, 2020 Fact Form D
Relationships across DFX
on 1 other DFX graph
Across the graphs
Caraway 2020, a Series of Republic Master Fund, LP 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.
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Record history
3 dated events on the change ledger, latest event first
- Fund first reported on ADV2020-03-26source on record
- Form D filed2020-02-24source on record
- Form D filed2020-02-05source on record
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.