DFX Intelligence
Vivo Capital Fund X, L.P.
As of · the latest observation of this vehicle; each figure below carries its own filing date
FundraisingEvergreen or indefinite offeringADV: Private Equity Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
6 additional principals, 2 additional placement agents
Every relationship, signal and contact on this record, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What matters now
- $717Msold at the filing
Latest Form D filed on 20 Jan 2026: $717M sold, 20 investors. A Form D amount is what was sold at the filing, never a final close.
A new or amended Form D means the vehicle is taking money now.
- +38%reported GAV
Reported gross assets rose from $548M to $755M between the Form ADV filings of 19 Sep 2024 and 31 Mar 2026.
The fund's assets as the adviser swears them, never its size or dry powder.
- 1 agentplacement
1 placement agent named on the vehicle's Form D filings.
A placement agent means the vehicle is marketed to outside LPs.
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
- indefinitewhat may be sold, not what was raised; file 021-488238, sworn by the adviser or filed under this vehicle
- Form D sold
- $717Mas of the filing of Jan 20, 2026, 20 investors
- First sale
- Jul 31, 2023
- Reported GAV
- $755Mon the Form ADV filed Mar 31, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 21
- Reported on ADV
- Mar 28, 2024 to Mar 31, 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.Evergreen or indefinite offering
Form D filed or amended 2026-01-20: offering indefinite, sold $717.0M (fr-1)
evidence dated Jan 20, 2026.
Lifecycle
Fundraising
Lifecycle
Form D within 18 months and the offering is not sold out
first sale: Jul 31, 2023vintage year: 2023adv gav as of: Mar 31, 2026vintage basis: Form d first saleform d sold: $717Mform d offering: n/aform d latest filed at: Jan 20, 2026
The fund's own reporting through time
3 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 28, 2024 | Private Equity Fund | $548M | 16 | $25.0M | 2% | no | |
| Sep 19, 2024 | Private Equity Fund | $548M | 16 | $25.0M | 2% | no | |
| Mar 31, 2026 | Private Equity Fund | $755M | 21 | $25.0M | 2% |
Principals and agents
9 principals on Form D, 1 placement agents
- David Liu Director
- Shan Fu Director
- Frank Kung Director
- Avenue Alternatives Pte. Ltd. placement agent
Service providers
5 named on Form ADV Schedule D and Form D
- AuditorEY · SAN FRANCISCO, California, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
- CustodianCiti · SIOUX FALLS, North Dakota, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
- CustodianSilicon Valley Bank · SANTA CLARA, California, United StatesForm ADV filed Mar 31, 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.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
- Jan 20, 2026Vivo Capital Fund X, L.P. filed Form D/A: $717,000,000 sold (indefinite offering), Private Equity FundForm D filed Fact Form D
- Jan 8, 2025Vivo Capital Fund X, L.P. filed Form D/A: $707,000,000 sold (indefinite offering), Private Equity FundForm D filed Fact Form D
- Mar 28, 2024Vivo Capital Fund X, L.P. first reported on Form ADV by Vivo Capital, LLC (Private Equity Fund), GAV $547,959,184Fund first reported on Form ADV Fact Form ADV
- Jul 28, 2023Vivo Capital Fund X, L.P. filed Form D: no sales yet (indefinite offering), Private Equity FundForm D filed Fact Form D
Evidence
47 observations
Every observation on this vehicle
- Entity type: Limited Partnership Jan 20, 2026 Fact Form D
- Entity type: Limited Partnership Jan 8, 2025 Fact Form D
- Entity type: Limited Partnership Jul 28, 2023 Fact Form D
- Form D fund type: Private Equity Fund Jan 20, 2026 Fact Form D
- Form D fund type: Private Equity Fund Jan 8, 2025 Fact Form D
- Form D fund type: Private Equity Fund Jul 28, 2023 Fact Form D
- Form D industry group: Pooled Investment Fund Jan 20, 2026 Fact Form D
- Form D industry group: Pooled Investment Fund Jan 8, 2025 Fact Form D
- Form D industry group: Pooled Investment Fund Jul 28, 2023 Fact Form D
- Amendment: true Jan 20, 2026 Fact Form D
- Amendment: true Jan 8, 2025 Fact Form D
- Amendment: false Jul 28, 2023 Fact Form D
- Revenue range (Form D): Decline to Disclose Jan 20, 2026 Fact Form D
- Revenue range (Form D): Decline to Disclose Jan 8, 2025 Fact Form D
- Revenue range (Form D): Decline to Disclose Jul 28, 2023 Fact Form D
- Incorporated: withinFiveYears Jan 20, 2026 Fact Form D
- Incorporated: withinFiveYears Jan 8, 2025 Fact Form D
- Incorporated: withinFiveYears Jul 28, 2023 Fact Form D
- Jurisdiction: Delaware Jan 20, 2026 Fact Form D
- Jurisdiction: Delaware Jan 8, 2025 Fact Form D
- Jurisdiction: Delaware Jul 28, 2023 Fact Form D
- Amount sold (Form D): $717M Jan 20, 2026 Fact Form D
- Amount sold (Form D): $707M Jan 8, 2025 Fact Form D
- Amount sold (Form D): $0 Jul 28, 2023 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jan 20, 2026 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jan 8, 2025 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jul 28, 2023 Fact Form D
- First sale: 2023-07-31 Jan 20, 2026 Fact Form D
- First sale: 2023-07-31 Jan 8, 2025 Fact Form D
- Indefinite offering: true Jan 20, 2026 Fact Form D
- Indefinite offering: true Jan 8, 2025 Fact Form D
- Indefinite offering: true Jul 28, 2023 Fact Form D
- Investors (Form D): 20 Jan 20, 2026 Fact Form D
- Investors (Form D): 19 Jan 8, 2025 Fact Form D
- Investors (Form D): 0 Jul 28, 2023 Fact Form D
- Minimum investment (Form D): 0 Jan 20, 2026 Fact Form D
- Minimum investment (Form D): 0 Jan 8, 2025 Fact Form D
- Minimum investment (Form D): 0 Jul 28, 2023 Fact Form D
- Securities offered: pooled Jan 20, 2026 Fact Form D
- Securities offered: pooled Jan 8, 2025 Fact Form D
- Securities offered: pooled Jul 28, 2023 Fact Form D
- Office address: Jan 20, 2026 Fact Form D
- Office address: Jan 8, 2025 Fact Form D
- Office address: Jul 28, 2023 Fact Form D
- Year of incorporation: 2022 Jan 20, 2026 Fact Form D
- Year of incorporation: 2022 Jan 8, 2025 Fact Form D
- Year of incorporation: 2022 Jul 28, 2023 Fact Form D
Relationships across DFX
on 2 other DFX graphs
Across the graphs
Vivo Capital Fund X, L.P. is the same institution as 3 records in Private Equity and RIA and Wealth.
Private Equity2RIA and Wealth1
DFX found 3 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
4 dated events on the change ledger, latest event first
- Form D filed2026-01-20source on record
- Form D filed2025-01-08source on record
- Fund first reported on ADV2024-03-28source on record
+1 more change 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.