DFX Intelligence
Industry Ventures Direct, L.P.
As of · the latest observation of this vehicle; each figure below carries its own filing date
- Vintage
- 2016
- Form D sold
- $197M
- Reported gross assets
- $298M
Form ADV, Sep 25, 2026
HarvestUnknownADV: Private Equity Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
5 additional principals, 5 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.
Nothing material in the last 365 days. Last change: 15 Jul 2016, Latest Form D filed on 15 Jul 2016: $197M sold of $200M offered, 7 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
- 2016basis: 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
- $200Mwhat may be sold, not what was raised; file 021-266108, sworn by the adviser or filed under this vehicle
- Form D sold
- $197Mas of the filing of Jul 15, 2016, 7 investors
- First sale
- Jun 15, 2016
- Reported GAV
- $298Mon the Form ADV filed Sep 25, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 19
- Reported on ADV
- Mar 13, 2017 to Sep 25, 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.
Unknown
latest Form D 2016-07-15, older than 15 months (fr-1)
evidence dated Jul 15, 2016.
LifecycleHarvest
vintage over 7 years, still reported
age years: 10first sale: Jun 15, 2016vintage year: 2016adv gav as of: Sep 25, 2026vintage basis: Form d first saleform d sold: $197Mform d offering: $200Mform d latest filed at: Jul 15, 2016
The fund's own reporting through time
19 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 13, 2017 | Venture Capital Fund | $201M | 8 | $1.0M | 2% | yes | |
| Mar 29, 2018 | Venture Capital Fund | $213M | 19 | $1.0M | 2% | yes | |
| Jun 20, 2018 | Venture Capital Fund | $203M | 19 | $1.0M | 2% | yes | |
| Nov 15, 2018 | Venture Capital Fund | $203M | 19 | $1.0M | 2% | yes | |
| Mar 27, 2019 | Venture Capital Fund | $194M | 19 | $1.0M | 2% | yes | |
| Oct 17, 2019 | Venture Capital Fund | $194M | 19 | $1.0M | 2% | yes | |
| Mar 27, 2020 | Venture Capital Fund | $217M | 19 | $1.0M | 2% | yes | |
| Oct 2, 2020 | Venture Capital Fund | $217M | 19 | $1.0M | 2% | yes | |
| Mar 31, 2021 | Venture Capital Fund | $275M | 19 | $1.0M | 2% | yes | |
| Nov 30, 2021 | Venture Capital Fund | $275M | 19 | $1.0M | 2% | yes | |
| Mar 30, 2022 | Venture Capital Fund | $476M | 19 | $1.0M | 2% | yes | |
| Jun 24, 2022 | Venture Capital Fund | $476M | 19 | $1.0M | 2% | yes | |
| Nov 4, 2022 | Venture Capital Fund | $476M | 19 | $1.0M | 2% | yes | |
| Mar 29, 2023 | Venture Capital Fund | $494M | 19 | $1.0M | 2% | yes | |
| Jun 1, 2023 | Venture Capital Fund | $494M | 19 | $1.0M | 2% | yes | |
| Aug 29, 2023 | Venture Capital Fund | $494M | 19 | $1.0M | 2% | yes | |
| Mar 28, 2024 | Venture Capital Fund | $390M | 19 | $1.0M | 2% | yes | |
| May 22, 2026 | Private Equity Fund | $298M | 19 | $1.0M | 2% | ||
| Sep 25, 2026 | Private Equity Fund | $298M | 19 | $1.0M | 2% |
Principals and agents
8 principals on Form D, 0 placement agents
- R. Roland Reynolds Executive Officer
- Johan D. Swildens Executive Officer
- Roland Industry Ventures, L.L.C. Promoter
Service providers
8 named on Form ADV Schedule D and Form D
- AuditorEY · BOSTON, Massachusetts, United StatesForm ADV filed May 27, 2025 reports.adviserinfo.sec.gov
- AdministratorDYNAMO SOFTWARE, LLC · HOLDEN, Massachusetts, United StatesForm ADV filed May 27, 2025 reports.adviserinfo.sec.gov
- CustodianCITY NATIONAL BANK · SAN FRANCISCO, California, United StatesForm ADV filed May 27, 2025 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 13, 2017Industry Ventures Direct, L.P. first reported on Form ADV by Industry Ventures, L.L.C. (Venture Capital Fund), GAV $200,548,153Fund first reported on Form ADV Fact Form ADV
- Jul 15, 2016Industry Ventures Direct, L.P. filed Form D/A: $197,380,000 sold of $200,000,000, Venture Capital FundForm D filed Fact Form D
- Jun 30, 2016Industry Ventures Direct, L.P. filed Form D: $190,030,000 sold of $200,000,000, Venture Capital FundForm D filed Fact Form D
Evidence
32 observations
Every observation on this vehicle
- Entity type: Limited Partnership Jul 15, 2016 Fact Form D
- Entity type: Limited Partnership Jun 30, 2016 Fact Form D
- Form D fund type: Venture Capital Fund Jul 15, 2016 Fact Form D
- Form D fund type: Venture Capital Fund Jun 30, 2016 Fact Form D
- Form D industry group: Pooled Investment Fund Jul 15, 2016 Fact Form D
- Form D industry group: Pooled Investment Fund Jun 30, 2016 Fact Form D
- Amendment: true Jul 15, 2016 Fact Form D
- Amendment: false Jun 30, 2016 Fact Form D
- Revenue range (Form D): Decline to Disclose Jul 15, 2016 Fact Form D
- Revenue range (Form D): Decline to Disclose Jun 30, 2016 Fact Form D
- Incorporated: withinFiveYears Jul 15, 2016 Fact Form D
- Incorporated: withinFiveYears Jun 30, 2016 Fact Form D
- Jurisdiction: Delaware Jul 15, 2016 Fact Form D
- Jurisdiction: Delaware Jun 30, 2016 Fact Form D
- Amount sold (Form D): $197M Jul 15, 2016 Fact Form D
- Amount sold (Form D): $190M Jun 30, 2016 Fact Form D
- Offering amount (Form D): $200M Jul 15, 2016 Fact Form D
- Offering amount (Form D): $200M Jun 30, 2016 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jul 15, 2016 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jun 30, 2016 Fact Form D
- First sale: 2016-06-15 Jul 15, 2016 Fact Form D
- First sale: 2016-06-15 Jun 30, 2016 Fact Form D
- Investors (Form D): 7 Jul 15, 2016 Fact Form D
- Investors (Form D): 7 Jun 30, 2016 Fact Form D
- Minimum investment (Form D): 0 Jul 15, 2016 Fact Form D
- Minimum investment (Form D): 0 Jun 30, 2016 Fact Form D
- Securities offered: pooled Jul 15, 2016 Fact Form D
- Securities offered: pooled Jun 30, 2016 Fact Form D
- Office address: Jul 15, 2016 Fact Form D
- Office address: Jun 30, 2016 Fact Form D
- Year of incorporation: 2016 Jul 15, 2016 Fact Form D
- Year of incorporation: 2016 Jun 30, 2016 Fact Form D
Relationships across DFX
on 2 other DFX graphs
Across the graphs
Industry Ventures Direct, L.P. is the same institution as 2 records in Private Equity and RIA and Wealth.
Private Equity1RIA 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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Record history
3 dated events on the change ledger, latest first
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.