DFX Intelligence
Commerce Ventures V, L.P.
As of · the latest observation of this vehicle; each figure below carries its own filing date
Early deploymentClosed to new capitalADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
Nothing material in the last 365 days. Last change: 22 Mar 2024, Latest Form D filed on 22 Mar 2024: $140M sold of $140M offered, 49 investors. A Form D amount is what was sold at the filing, never a final close.
Drawing the relationship network…
Amounts, each with its basis
- Vintage
- 2024basis: adv first reported
- 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
- $140Mwhat may be sold, not what was raised; file 021-489289, sworn by the adviser or filed under this vehicle
- Form D sold
- $140Mas of the filing of Mar 22, 2024, 49 investors
- First sale
- Aug 10, 2023
- Reported GAV
- $144Mon the Form ADV filed Mar 13, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 51
- Reported on ADV
- Mar 27, 2024 to Mar 13, 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 2024-03-22: the stated $140.0M offering reported fully sold (fr-1)
evidence dated Mar 22, 2024.
LifecycleEarly deployment
vintage within 2 years
age years: 2first sale: Aug 10, 2023vintage year: 2024adv gav as of: Mar 13, 2026vintage basis: ADV first reportedform d sold: $140Mform d offering: $140Mform d latest filed at: Mar 22, 2024
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 | $136M | 43 | 0% | no | ||
| May 10, 2024 | Venture Capital Fund | $136M | 43 | 0% | no | ||
| Mar 13, 2026 | Venture Capital Fund | $144M | 51 | 2% |
Principals and agents
3 principals on Form D, 0 placement agents
- Ysbrant Marcelis Executive Officer
- Daniel Rosen Executive Officer
- Matt Nichols 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 13, 2026 reports.adviserinfo.sec.gov
- AdministratorADURO ADVISORS, LLC · DENVER, Colorado, United StatesForm ADV filed Mar 13, 2026 reports.adviserinfo.sec.gov
- CustodianSTIFEL BANK AND TRUST · ST. LOUIS, Missouri, United StatesForm ADV filed Mar 13, 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
4 events
- Mar 27, 2024Commerce Ventures V, L.P. first reported on Form ADV by Commerce Ventures Management, LLC (Venture Capital Fund), GAV $136,360,000Fund first reported on Form ADV Fact Form ADV
- Mar 22, 2024Commerce Ventures V, L.P. filed Form D: no sales yet of $10,000,000, Venture Capital FundForm D filed Fact Form D
- Mar 22, 2024Commerce Ventures V, L.P. filed Form D/A: $140,015,000 sold of $140,015,000, Venture Capital FundForm D filed Fact Form D
- Aug 9, 2023Commerce Ventures V, L.P. filed Form D: no sales yet of $150,000,000, Venture Capital FundForm D filed Fact Form D
Evidence
36 observations
Every observation on this vehicle
- Entity type: Limited Partnership Mar 22, 2024 Fact Form D
- Entity type: Limited Partnership Aug 9, 2023 Fact Form D
- Form D fund type: Venture Capital Fund Mar 22, 2024 Fact Form D
- Form D fund type: Venture Capital Fund Aug 9, 2023 Fact Form D
- Form D industry group: Pooled Investment Fund Mar 22, 2024 Fact Form D
- Form D industry group: Pooled Investment Fund Aug 9, 2023 Fact Form D
- Amendment: false Mar 22, 2024 Fact Form D
- Amendment: true Mar 22, 2024 Fact Form D
- Amendment: false Aug 9, 2023 Fact Form D
- Revenue range (Form D): Not Applicable Mar 22, 2024 Fact Form D
- Revenue range (Form D): Not Applicable Aug 9, 2023 Fact Form D
- Incorporated: withinFiveYears Mar 22, 2024 Fact Form D
- Incorporated: withinFiveYears Aug 9, 2023 Fact Form D
- Jurisdiction: Delaware Mar 22, 2024 Fact Form D
- Jurisdiction: Delaware Aug 9, 2023 Fact Form D
- Amount sold (Form D): $0 Mar 22, 2024 Fact Form D
- Amount sold (Form D): $140M Mar 22, 2024 Fact Form D
- Amount sold (Form D): $0 Aug 9, 2023 Fact Form D
- Offering amount (Form D): $10.0M Mar 22, 2024 Fact Form D
- Offering amount (Form D): $140M Mar 22, 2024 Fact Form D
- Offering amount (Form D): $150M Aug 9, 2023 Fact Form D
- Exemptions: 06c, 3C, 3C.7 Mar 22, 2024 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Mar 22, 2024 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Aug 9, 2023 Fact Form D
- First sale: 2023-08-10 Mar 22, 2024 Fact Form D
- Investors (Form D): 0 Mar 22, 2024 Fact Form D
- Investors (Form D): 49 Mar 22, 2024 Fact Form D
- Investors (Form D): 0 Aug 9, 2023 Fact Form D
- Minimum investment (Form D): 0 Mar 22, 2024 Fact Form D
- Minimum investment (Form D): 0 Aug 9, 2023 Fact Form D
- Securities offered: pooled Mar 22, 2024 Fact Form D
- Securities offered: pooled Aug 9, 2023 Fact Form D
- Office address: Mar 22, 2024 Fact Form D
- Office address: Aug 9, 2023 Fact Form D
- Year of incorporation: 2023 Mar 22, 2024 Fact Form D
- Year of incorporation: 2023 Aug 9, 2023 Fact Form D
Relationships across DFX
on 1 other DFX graph
Across the graphs
Commerce Ventures V, L.P. 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.
Checking your plan…
Record history
1 identity change, 4 dated events on the change ledger, latest event first
- Merged in2026-09-30
- Fund first reported on ADV2024-03-27source on record
- Form D filed2024-03-22source on record
+2 more changes on this record's ledger
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
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.