DFX Intelligence

Khosla Ventures Excelsior, L.P.

Fundmanaged by Khosla Ventures, LLC· Delaware

As of 2026-09-15 · the latest observation of this vehicle; each figure below carries its own filing date

Vintage: 2023
Form D sold: $1.0B
Reported gross assets: $748M

Active deploymentClosed to new capitalADV: Venture Capital Fund

Ask DFX about this View relationships Amounts Limited partners

As of 2026-09-15 · the latest observation of this vehicle; each figure below carries its own filing date

2 additional principals

Every relationship, signal and contact on this record, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Nothing material in the last 365 days. Last change: 31 Mar 2025, 1 public LP report name this vehicle; the latest, New York State Common Retirement Fund as of 31 Mar 2025, shows $600M committed and 1.13x (the LP's own figures).

Relationship network

10 connected entities4 observed investment records

From Form ADV and Form D (manager, principals, placement agents), investments attributed to this vehicle, and public pension LP disclosures.

Some relationships on this record are counted rather than named here. They open with the full profile.

Click any name or line for the investment records and sources behind it. Line weight is investment records together; dashed lines are inferred.

Reading the network

Organization
Person

Venture relationships are not scored. Each line names its claim: a round led or joined, a board seat or a filing that names the firm, a listing on a portfolio page (dated by when DFX saw it, never by when the investment was made), a disclosed LP commitment, or a co-investor pair counted from observed participations. Observed means a named source says so; Derived means DFX counted it from observed rows; Inferred means a match that may be wrong.

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Which LPs and companies are connected to Khosla Ventures Excelsior, L.P.?

Drawing the relationship network…

Amounts, each with its basis

Vintage: 2023basis: 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: $1.0Bwhat may be sold, not what was raised; file 021-482795, sworn by the adviser or filed under this vehicle
Form D sold: $1.0Bas of the filing of May 26, 2023, 2 investors
First sale: May 18, 2023
Reported GAV: $748Mon the Form ADV filed Sep 14, 2026; the fund's assets, never its size or dry powder
Owners (ADV): 2
Reported on ADV: Mar 27, 2024 to Sep 14, 2026

Fundraising evidence

Closed to new capital

Form D filed or amended 2023-05-26: the stated $1.0bn offering reported fully sold (fr-1)

evidence dated May 26, 2023.

Lifecycle

Active deployment

vintage 2 to 4 years

age years: 3first sale: May 18, 2023vintage year: 2023adv gav as of: Sep 14, 2026vintage basis: Form d first saleform d sold: $1.0Bform d offering: $1.0Bform d latest filed at: May 26, 2023

The fund's own reporting through time

3 Form ADV filings

Filed	Type	Gross asset value	Owners	Min. investment	Adviser-owned	Audit
Mar 27, 2024	Venture Capital Fund	$38.8M	2	$100,000	1%	yes
May 20, 2026	Venture Capital Fund	$748M	2	$100,000	0%
Sep 14, 2026		$748M	2	$100,000	0%

Principals and agents

5 principals on Form D, 0 placement agents

Samir Kaul Executive Officer
David Weiden Executive Officer
Sven Strohband Executive Officer

Service providers

3 named on Form ADV Schedule D and Form D

AuditorEY · SAN FRANCISCO, California, United StatesForm ADV filed Mar 28, 2025 reports.adviserinfo.sec.gov
AdministratorStandish Management · SEATTLE, Washington, United StatesForm ADV filed Mar 28, 2025 reports.adviserinfo.sec.gov
CustodianFirst Citizens Bank · RALEIGH, North Carolina, United StatesForm ADV filed Mar 28, 2025 reports.adviserinfo.sec.gov

Limited partners and their reported performance

1 public LP report

LP	Vintage (LP’s)	Committed	Paid in	Distributed	Remaining value	Net IRR	Multiple	As of
New York State Common Retirement Fund osc.ny.gov	2023	$600M	$285M	$0	$322M	not meaningful yet	1.1x	Mar 31, 2025

Known LPs and allocators

1 relationship, public pensions and the allocator graph, each counted once

Allocator	Type	Amount	Date	Source
New York State Common Retirement Fund	PUBLIC INSTITUTIONAL POOL	$600M committed	reported as of Mar 31, 2025	Fact Pension disclosure

Investments attributed to this vehicle

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

3 events

Mar 31, 2025
NYSCRF reports Khosla Ventures Excelsior, LP: $600,000,000 committed, vintage 2023
LP commitment disclosed Fact Pension disclosure
Mar 27, 2024
Khosla Ventures Excelsior, L.P. first reported on Form ADV by Khosla Ventures, LLC (Venture Capital Fund), GAV $38,833,130
Fund first reported on Form ADV Fact Form ADV
May 26, 2023
Khosla Ventures Excelsior, L.P. filed Form D: $1,000,000,000 sold of $1,000,000,000, Venture Capital Fund
Form D filed Fact Form D

Evidence

17 observations

Every observation on this vehicle

Adv pdf fund: 747,968,097 Sep 14, 2026 Fact Form ADV
Entity type: Limited Partnership May 26, 2023 Fact Form D
Form D fund type: Venture Capital Fund May 26, 2023 Fact Form D
Form D industry group: Pooled Investment Fund May 26, 2023 Fact Form D
Amendment: false May 26, 2023 Fact Form D
Revenue range (Form D): Not Applicable May 26, 2023 Fact Form D
Incorporated: withinFiveYears May 26, 2023 Fact Form D
Jurisdiction: Delaware May 26, 2023 Fact Form D
Amount sold (Form D): $1.0B May 26, 2023 Fact Form D
Offering amount (Form D): $1.0B May 26, 2023 Fact Form D
Exemptions: 06b, 3C, 3C.7 May 26, 2023 Fact Form D
First sale: 2023-05-18 May 26, 2023 Fact Form D
Investors (Form D): 2 May 26, 2023 Fact Form D
Minimum investment (Form D): 0 May 26, 2023 Fact Form D
Securities offered: pooled May 26, 2023 Fact Form D
Office address: May 26, 2023 Fact Form D
Year of incorporation: 2023 May 26, 2023 Fact Form D

Relationships across DFX

on 2 other DFX graphs · 5 capital paths

Across the graphs

Khosla Ventures Excelsior, 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 what the two were joined on.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

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Capital chain

Khosla Ventures Excelsior, L.P. sits on 5 traced paths of capital across the graphs.

Allocator to VC fund to manager to company

DFX traced 5 paths of capital through this record

Every record on each path, what it committed or lent, and as of when.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.

Checking your plan…

Record history

3 dated events on the change ledger, latest first

Form D filed
2023-05-26source
LP commitment disclosed
2025-03-31source
Fund first reported on ADV
2024-03-27source

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.

Relationship network

▸Relationships across DFX

Record history

Relationship network

Relationships across DFX