DFX Intelligence
HCG Flex Coinvest C LLC
As of · the latest observation of this vehicle; each figure below carries its own filing date
MatureClosed to new capitalADV: Venture Capital FundCo-investment vehicle
A co-investment vehicle for specific deals, not a commingled fund.
As of · the latest observation of this vehicle; each figure below carries its own filing date
What matters now
- +12%reported GAV
Reported gross assets rose from $1.43M to $1.6M between the Form ADV filings of 27 Mar 2024 and 9 Sep 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
- 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
- $1.5Mwhat may be sold, not what was raised; file 021-419360, sworn by the adviser or filed under this vehicle
- Form D sold
- $1.5Mas of the filing of Nov 1, 2021, 15 investors
- First sale
- Oct 15, 2021
- Reported GAV
- $1.6Mon the Form ADV filed Sep 9, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 15
- Reported on ADV
- Mar 31, 2022 to Sep 9, 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 2021-11-01: the stated $1.5M offering reported fully sold (fr-1)
evidence dated Nov 1, 2021.
LifecycleMature
vintage 4 to 7 years
age years: 5first sale: Oct 15, 2021vintage year: 2021adv gav as of: Sep 9, 2026vintage basis: Form d first saleform d sold: $1.5Mform d offering: $1.5Mform d latest filed at: Nov 1, 2021
The fund's own reporting through time
5 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 31, 2022 | Venture Capital Fund | $1.5M | 15 | $5,000 | 1% | yes | |
| Jul 21, 2022 | Venture Capital Fund | $1.5M | 15 | $5,000 | 1% | yes | |
| Mar 31, 2023 | Venture Capital Fund | $1.5M | 15 | $5,000 | 1% | yes | |
| Mar 27, 2024 | Venture Capital Fund | $1.4M | 15 | $5,000 | 1% | yes | |
| Sep 9, 2026 | Venture Capital Fund | $1.6M | 15 | $5,000 | 1% |
Principals and agents
2 principals on Form D, 0 placement agents
- Jose Penabad Executive Officer
- Hadi Habal Executive Officer
Service providers
2 named on Form ADV Schedule D and Form D
- AuditorFrank, Rimerman + Co. · SAN JOSE, California, United StatesForm ADV filed Mar 27, 2026 reports.adviserinfo.sec.gov
- CustodianSilicon Valley Bank · SANTA CLARA, California, United StatesForm ADV filed Mar 27, 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
3 events
- Mar 31, 2023Custodian changed: Western Alliance / Bridge Bank replaced MILLENNIUM TRUST COMPANY, first reported on the Form ADV filed March 31, 2023 (previous filing July 21, 2022)Custodian changed Fact Form ADV
- Mar 31, 2022HCG Flex Coinvest C LLC first reported on Form ADV by HCG Fund Management LP (Venture Capital Fund), GAV $1,500,000Fund first reported on Form ADV Fact Form ADV
- Nov 1, 2021HCG Flex Coinvest C LLC filed Form D: $1,500,000 sold of $1,500,000, Other Investment FundForm D filed Fact Form D
Evidence
16 observations
Every observation on this vehicle
- Entity type: Limited Liability Company Nov 1, 2021 Fact Form D
- Form D fund type: Other Investment Fund Nov 1, 2021 Fact Form D
- Form D industry group: Pooled Investment Fund Nov 1, 2021 Fact Form D
- Amendment: false Nov 1, 2021 Fact Form D
- Incorporated: withinFiveYears Nov 1, 2021 Fact Form D
- Jurisdiction: Delaware Nov 1, 2021 Fact Form D
- Amount sold (Form D): $1.5M Nov 1, 2021 Fact Form D
- Offering amount (Form D): $1.5M Nov 1, 2021 Fact Form D
- Exemptions: 06b, 3C.1 Nov 1, 2021 Fact Form D
- First sale: 2021-10-15 Nov 1, 2021 Fact Form D
- Investors (Form D): 15 Nov 1, 2021 Fact Form D
- Minimum investment (Form D): 0 Nov 1, 2021 Fact Form D
- Offering other type: Limited Liability Company Interests ("Interests") Nov 1, 2021 Fact Form D
- Securities offered: Equity, pooled Nov 1, 2021 Fact Form D
- Office address: Nov 1, 2021 Fact Form D
- Year of incorporation: 2021 Nov 1, 2021 Fact Form D
Relationships across DFX
on 2 other DFX graphs
Across the graphs
HCG Flex Coinvest C LLC is the same institution as 2 records in RIA and Wealth and Independent Sponsors.
RIA and Wealth1Independent Sponsors1
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.
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Record history
2 dated events on the change ledger, latest event first
- Fund first reported on ADV2022-03-31source on record
- Form D filed2021-11-01source 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.