DFX Intelligence
Base10 Advancement Initiative II LP
As of · the latest observation of this vehicle; each figure below carries its own filing date
Active deploymentClosed to new capitalADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
4 additional principals, 2 additional placement agents, 2 additional LP reports and investments, 2 events
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
- 1 LP reportpublic disclosures
1 public LP report name this vehicle; the latest, California Public Employees' Retirement System as of 31 Dec 2025, shows $50M committed and net IRR -1.7%, 1.00x (the LP's own figures).
A named LP and its own performance figures are the strongest outside read on a fund.
FactPublic pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)For LPs, fund-of-fundsLimited partners → - +440%reported GAV
Reported gross assets rose from $62.3M to $337M between the Form ADV filings of 27 Mar 2024 and 31 Mar 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
- 2022basis: 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
- $457Mwhat may be sold, not what was raised; file 021-453466, sworn by the adviser or filed under this vehicle
- Form D sold
- $457Mas of the filing of Dec 18, 2024, 122 investors
- First sale
- Jul 26, 2022
- Reported GAV
- $337Mon the Form ADV filed Mar 31, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 148
- Reported on ADV
- Mar 31, 2023 to Mar 31, 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 2024-12-18: the stated $457.4M offering reported fully sold (fr-1)
evidence dated Dec 18, 2024.
LifecycleActive deployment
vintage 2 to 4 years
age years: 4first sale: Jul 26, 2022vintage year: 2022adv gav as of: Mar 31, 2026vintage basis: Form d first saleform d sold: $457Mform d offering: $457Mform d latest filed at: Dec 18, 2024
The fund's own reporting through time
3 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 31, 2023 | Venture Capital Fund | $38.0M | 114 | 0% | yes | ||
| Mar 27, 2024 | Venture Capital Fund | $62.3M | 114 | 0% | yes | ||
| Mar 31, 2026 | Venture Capital Fund | $337M | 148 | 2% |
Principals and agents
7 principals on Form D, 0 placement agents
- Adeyemi Ajao Executive Officer
- Base10 Advancement Initiative II GP, LLC Executive Officer
- TJ Nahigian Executive Officer
Service providers
5 named on Form ADV Schedule D and Form D
- AuditorBDO · BOSTON, Massachusetts, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
- AdministratorCarta · SAN FRANCISCO, California, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
- CustodianFirst Citizens Bank · SANTA CLARA, California, United StatesForm ADV filed Mar 31, 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).
1 public LP report
| LP | Vintage (LP’s) | Committed | Paid in | Distributed | Remaining value | Net IRR | Multiple | As of |
|---|---|---|---|---|---|---|---|---|
| California Public Employees' Retirement System calpers.ca.gov | 2023 | $50.0M | $37.8M | $422,373 | $36.5M | -1.7% | 1.0x | Dec 31, 2025 |
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.
5 relationships, public pensions and the allocator graph, each counted once
| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| California Public Employees' Retirement System | STATE RETIREMENT SYSTEM | $50.0M committed | date not on record | Fact Pension disclosure |
| New York Board of Education Retirement System | PUBLIC PENSION | $25.0M committed | committed Mar 6, 2023 | Fact Pension disclosure |
| Weingart Foundation | FOUNDATION | $6.8M fair value on the foundation's return | reported as of Jun 30, 2025 | Fact IRS Form 990 / 990-PF e-file returns |
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
7 events
- Dec 31, 2025CalPERS reports Base10 Series B I, L.P.: $50,000,000 committed, vintage 2023, net IRR -1.7%, 1.0xLP commitment disclosed Fact Pension disclosure
- Dec 31, 2025CalPERS reports Base10 Series B I, L.P.: $50,000,000 committed, vintage 2023, net IRR -1.7%, 1.0xLP commitment disclosed Fact Pension disclosure
- Dec 18, 2024Base10 Series B I, L.P. filed Form D/A: $457,450,000 sold of $457,450,000, Venture Capital FundForm D filed Fact Form D
- Mar 27, 2024Administrator changed: Carta replaced Standish Management, first reported on the Form ADV filed March 27, 2024 (previous filing March 31, 2023)Administrator changed Fact Form ADV
- Mar 31, 2023Base10 Advancement Initiative II LP first reported on Form ADV by Base10 Partners Management LLC (Venture Capital Fund), GAV $38,000,000Fund first reported on Form ADV Fact Form ADV
Evidence
47 observations
Every observation on this vehicle
- Entity type: Limited Partnership Dec 18, 2024 Fact Form D
- Entity type: Limited Partnership Mar 17, 2023 Fact Form D
- Entity type: Limited Partnership Jul 22, 2022 Fact Form D
- Form D fund type: Venture Capital Fund Dec 18, 2024 Fact Form D
- Form D fund type: Venture Capital Fund Mar 17, 2023 Fact Form D
- Form D fund type: Venture Capital Fund Jul 22, 2022 Fact Form D
- Form D industry group: Pooled Investment Fund Dec 18, 2024 Fact Form D
- Form D industry group: Pooled Investment Fund Mar 17, 2023 Fact Form D
- Form D industry group: Pooled Investment Fund Jul 22, 2022 Fact Form D
- Amendment: true Dec 18, 2024 Fact Form D
- Amendment: true Mar 17, 2023 Fact Form D
- Amendment: false Jul 22, 2022 Fact Form D
- Revenue range (Form D): Decline to Disclose Dec 18, 2024 Fact Form D
- Revenue range (Form D): Decline to Disclose Mar 17, 2023 Fact Form D
- Revenue range (Form D): Decline to Disclose Jul 22, 2022 Fact Form D
- Incorporated: withinFiveYears Dec 18, 2024 Fact Form D
- Incorporated: withinFiveYears Mar 17, 2023 Fact Form D
- Incorporated: withinFiveYears Jul 22, 2022 Fact Form D
- Jurisdiction: Delaware Dec 18, 2024 Fact Form D
- Jurisdiction: Delaware Mar 17, 2023 Fact Form D
- Jurisdiction: Delaware Jul 22, 2022 Fact Form D
- Amount sold (Form D): $457M Dec 18, 2024 Fact Form D
- Amount sold (Form D): $444M Mar 17, 2023 Fact Form D
- Amount sold (Form D): $0 Jul 22, 2022 Fact Form D
- Offering amount (Form D): $457M Dec 18, 2024 Fact Form D
- Offering amount (Form D): $444M Mar 17, 2023 Fact Form D
- Offering amount (Form D): $400M Jul 22, 2022 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Dec 18, 2024 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Mar 17, 2023 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Jul 22, 2022 Fact Form D
- First sale: 2022-07-26 Dec 18, 2024 Fact Form D
- First sale: 2022-07-26 Mar 17, 2023 Fact Form D
- Investors (Form D): 122 Dec 18, 2024 Fact Form D
- Investors (Form D): 113 Mar 17, 2023 Fact Form D
- Investors (Form D): 0 Jul 22, 2022 Fact Form D
- Minimum investment (Form D): 0 Dec 18, 2024 Fact Form D
- Minimum investment (Form D): 0 Mar 17, 2023 Fact Form D
- Minimum investment (Form D): 0 Jul 22, 2022 Fact Form D
- Securities offered: Equity, pooled Dec 18, 2024 Fact Form D
- Securities offered: Equity, pooled Mar 17, 2023 Fact Form D
- Securities offered: Equity, pooled Jul 22, 2022 Fact Form D
- Office address: Dec 18, 2024 Fact Form D
- Office address: Mar 17, 2023 Fact Form D
- Office address: Jul 22, 2022 Fact Form D
- Year of incorporation: 2022 Dec 18, 2024 Fact Form D
- Year of incorporation: 2022 Mar 17, 2023 Fact Form D
- Year of incorporation: 2022 Jul 22, 2022 Fact Form D
Relationships across DFX
on 2 other DFX graphs
Across the graphs
Base10 Advancement Initiative II LP 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 how the two were matched.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Checking your plan…
Record history
1 identity change, 6 dated events on the change ledger, latest event first
- Merged in2026-09-15
- LP commitment disclosed2025-12-31source on record
- LP commitment disclosed2025-12-31source on record
+4 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.