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 / B••••• P••••••• I••• L•••

B••••• P••••••• I••• L•••

MatureClosed to new capitalFundADV: Venture Capital FundB••••• P••••••• M••••••••• L••Delaware
Amounts, each with its basis
Vintage
2021basis: 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
$450Mwhat may be sold, not what was raised; file 021-426165, sworn by the adviser or filed under this vehicle
Form D sold
$450Mas of the filing of Feb 22, 2022, 104 investors
First sale
Dec 22, 2021
Reported GAV
$129Mon the Form ADV filed Mar 27, 2024; the fund's assets, never its size or dry powder
Owners (ADV)
129
Reported on ADV
Mar 31, 2022 to Mar 27, 2024
Fundraising evidence
Closed to new capital
Form D filed or amended 2022-02-22: the stated $449.9M offering reported fully sold (fr-1)
evidence dated Feb 22, 2022. 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: 5first sale: 2021-12-22vintage year: $2,021adv gav as of: 2024-03-27vintage basis: form_d_first_saleform d sold usd: $450Mform d offering usd: $450Mform d latest filed at: 2022-02-22
The fund's own reporting through time
3 Form ADV filings
FiledTypeGross asset value OwnersMin. investmentAdviser-ownedAudit
Mar 31, 2022Venture Capital Fund$400M
1112%yes
Mar 31, 2023Venture Capital Fund$66.8M
1291%yes
Mar 27, 2024Venture Capital Fund$129M
1291%yes
Principals and agents
3 principals on Form D, 0 placement agents
Limited partners and their reported performance
1 public LP report
LPVintage (LP’s)CommittedPaid inDistributedRemaining valueNet IRRMultipleAs of
C••••••••• P••••• E••••••••• R••••••••• S••••• calpers.ca.gov2022$50.0M$43.3M$0$45.3M2.7%1.0xDec 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
5 events
  1. Dec 31, 2025
    CalPERS reports B••••• P••••••• I••• L•••: $50,000,000 committed, vintage 2022, net IRR 2.7%, 1.0x
    LP commitment disclosed Fact P••••• pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
  2. Dec 31, 2025
    CalPERS reports B••••• P••••••• I••• L•••: $50,000,000 committed, vintage 2022, net IRR 2.7%, 1.0x
    LP commitment disclosed Fact P••••• pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
  3. Mar 31, 2022
    B••••• P••••••• I••• L••• first reported on Form ADV by B••••• P••••••• M••••••••• L•• (Venture Capital Fund), GAV $400,000,000
    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)
  4. Feb 22, 2022
    B••••• P••••••• I••• L••• filed Form D/A: $449,850,000 sold of $449,850,000, Venture Capital Fund
    Form D filed Fact SEC EDGAR Form D data sets (quarterly)
  5. Dec 21, 2021
    B••••• P••••••• I••• L••• filed Form D: no sales yet of $400,000,000, Venture Capital Fund
    Form D filed Fact SEC EDGAR Form D data sets (quarterly)
Evidence
31 observations
Every observation on this vehicle