DFX Intelligence
Bullpen Capital V, 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
What matters now
- +41%reported GAV
Reported gross assets rose from $95.7M to $135M between the Form ADV filings of 27 Mar 2024 and 25 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
- $150Mwhat may be sold, not what was raised; file 021-369259, sworn by the adviser or filed under this vehicle
- Form D sold
- $109Mas of the filing of Sep 30, 2020, 25 investors
- First sale
- Jun 26, 2020
- Reported GAV
- $135Mon the Form ADV filed Mar 25, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 42
- Reported on ADV
- Mar 5, 2021 to Mar 25, 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 2020-09-30, older than 15 months (fr-1)
evidence dated Sep 30, 2020.
Lifecycle
Mature
Lifecycle
vintage 4 to 7 years
age years: 6first sale: Jun 26, 2020vintage year: 2020adv gav as of: Mar 25, 2026vintage basis: Form d first saleform d sold: $109Mform d offering: $150Mform d latest filed at: Sep 30, 2020
The fund's own reporting through time
5 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 5, 2021 | Venture Capital Fund | $133M | 75 | 1% | yes | ||
| Mar 29, 2022 | Venture Capital Fund | $180M | 75 | $10,000 | 1% | yes | |
| Mar 28, 2023 | Venture Capital Fund | $170M | 42 | $20,000 | 1% | yes | |
| Mar 27, 2024 | Venture Capital Fund | $95.7M | 42 | $20,000 | 1% | yes | |
| Mar 25, 2026 | Venture Capital Fund | $135M | 42 | $20,000 | 1% |
Principals and agents
3 principals on Form D, 0 placement agents
- Paul Martino Executive Officer
- Duncan Davidson Executive Officer
- Eric Wiesen Executive Officer
Service providers
3 named on Form ADV Schedule D and Form D
- AuditorFrank, Rimerman + Co. · PALO ALTO, California, United StatesForm ADV filed Mar 25, 2026 reports.adviserinfo.sec.gov
- AdministratorADURO ADVISORS, LLC · DENVER, Colorado, United StatesForm ADV filed Mar 25, 2026 reports.adviserinfo.sec.gov
- CustodianCITIZENS BANK, NATIONAL ASSOCIATION · PROVIDENCE, Rhode Island, United StatesForm ADV filed Mar 25, 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.1 relationship, public pensions and the allocator graph, each counted once
| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| The Frederick a Deluca Foundation Inc | FOUNDATION | $3.4M fair value on the foundation's return | reported as of Dec 31, 2024 | 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 25, 2026Custodian changed: CITIZENS BANK, NATIONAL ASSOCIATION replaced JPMorgan, first reported on the Form ADV filed March 25, 2026 (previous filing March 24, 2025)Custodian changed Fact Form ADV
- Mar 5, 2021Bullpen Capital V, L.P. first reported on Form ADV by Bullpen Management LLC (Venture Capital Fund), GAV $133,486,253Fund first reported on Form ADV Fact Form ADV
- Sep 30, 2020Bullpen Capital V, L.P. filed Form D/A: $109,415,000 sold of $150,000,000, Venture Capital FundForm D filed Fact Form D
- Jun 18, 2020Bullpen Capital V, L.P. filed Form D: no sales yet of $150,000,000, Venture Capital FundForm D filed Fact Form D
Evidence
46 observations
Every observation on this vehicle
- Entity type: Limited Partnership Fact Form D
- Entity type: Limited Partnership Sep 30, 2020 Fact Form D
- Entity type: Limited Partnership Jun 18, 2020 Fact Form D
- Form D fund type: Venture Capital Fund Fact Form D
- Form D fund type: Venture Capital Fund Sep 30, 2020 Fact Form D
- Form D fund type: Venture Capital Fund Jun 18, 2020 Fact Form D
- Form D industry group: Pooled Investment Fund Fact Form D
- Form D industry group: Pooled Investment Fund Sep 30, 2020 Fact Form D
- Form D industry group: Pooled Investment Fund Jun 18, 2020 Fact Form D
- Amendment: false Fact Form D
- Amendment: true Sep 30, 2020 Fact Form D
- Amendment: false Jun 18, 2020 Fact Form D
- Revenue range (Form D): Not Applicable Fact Form D
- Revenue range (Form D): Not Applicable Sep 30, 2020 Fact Form D
- Revenue range (Form D): Not Applicable Jun 18, 2020 Fact Form D
- Incorporated: withinFiveYears Fact Form D
- Incorporated: withinFiveYears Sep 30, 2020 Fact Form D
- Incorporated: withinFiveYears Jun 18, 2020 Fact Form D
- Jurisdiction: Delaware Fact Form D
- Jurisdiction: Delaware Sep 30, 2020 Fact Form D
- Jurisdiction: Delaware Jun 18, 2020 Fact Form D
- Amount sold (Form D): $0 Fact Form D
- Amount sold (Form D): $109M Sep 30, 2020 Fact Form D
- Amount sold (Form D): $0 Jun 18, 2020 Fact Form D
- Offering amount (Form D): $150M Fact Form D
- Offering amount (Form D): $150M Sep 30, 2020 Fact Form D
- Offering amount (Form D): $150M Jun 18, 2020 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Fact Form D
- Exemptions: 06b, 3C, 3C.1 Sep 30, 2020 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jun 18, 2020 Fact Form D
- First sale: 2020-06-26 Sep 30, 2020 Fact Form D
- Investors (Form D): 0 Fact Form D
- Investors (Form D): 25 Sep 30, 2020 Fact Form D
- Investors (Form D): 0 Jun 18, 2020 Fact Form D
- Minimum investment (Form D): 0 Fact Form D
- Minimum investment (Form D): 0 Sep 30, 2020 Fact Form D
- Minimum investment (Form D): 0 Jun 18, 2020 Fact Form D
- Securities offered: pooled Fact Form D
- Securities offered: pooled Sep 30, 2020 Fact Form D
- Securities offered: pooled Jun 18, 2020 Fact Form D
- Office address: Fact Form D
- Office address: Sep 30, 2020 Fact Form D
- Office address: Jun 18, 2020 Fact Form D
- Year of incorporation: 2020 Fact Form D
- Year of incorporation: 2020 Sep 30, 2020 Fact Form D
- Year of incorporation: 2020 Jun 18, 2020 Fact Form D
Relationships across DFX
on 2 other DFX graphs
Across the graphs
Bullpen Capital V, L.P. is the same institution as 2 records in Allocators and RIA and Wealth.
Allocators1RIA and Wealth1
DFX found 2 relationships across 2 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
3 dated events on the change ledger, latest event first
- Fund first reported on ADV2021-03-05source on record
- Form D filed2020-09-30source on record
- Form D filed2020-06-18source 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.