This provider
The service provider's name, 911 additional funds served, 140 provider changes
Every relationship, signal and contact on this record, with the source on each.
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What matters now
- Lost2 funds
JAM Fund, LLC moved 2 funds from this provider to JPM as custodian.
A client that left; the filing names who replaced this provider.
- Lost4 funds
Learn Capital moved 4 funds from this provider to CITIZENS BANK as custodian.
A client that left; the filing names who replaced this provider.
- Lost2 funds
Hawktail Management, LLC moved 2 funds from this provider to MERCURY FINANCIAL GROUP LLC as custodian.
A client that left; the filing names who replaced this provider.
- 1 / 15decisions won / lost
In the last 12 months advisers moved 1 fund to this provider (1 decision) and 32 away (15 decisions).
One adviser moving many vehicles on one filing is counted as one decision.
DerivedForm ADV and Form D filings, consecutive filings compared
A fund is served when its adviser names this provider in the role on the fund’s latest Form ADV, or names it as a sales compensation recipient on a Form D. Gross assets are the adviser’s own figure on Form ADV; an implausible figure is left out rather than printed.
| Fund | Manager | Role | Vintage | Gross assets | Latest filing |
|---|---|---|---|---|---|
| Scale Venture Partners V LP | Scale Venture Partners | Custodian | 2016 | $1.1B | Form ADV Mar 31, 2026 reports.adviserinfo.sec.gov |
| Scale Venture Partners VI, LP | Scale Venture Partners | Custodian | 2018 | $825M | Form ADV Mar 31, 2026 reports.adviserinfo.sec.gov |
| Legacy 10, LLC | Next Legacy Management, LLC | Custodian | 2021 | $552M | Form ADV Mar 31, 2021 sec.gov |
- Next Legacy Management, LLC38 funds, $3.8B reported gross assets
- Scale Venture Partners4 funds, $2.8B reported gross assets
- XYZ Venture Capital19 funds, $1.4B reported gross assets
- May 13, 2026Succession Custodian: JPMorgan replaced this provider at Cloud All Star Fund, L.P. · Next Legacy Management, LLCForm ADV, previous Mar 31, 2026 reports.adviserinfo.sec.gov
- Apr 30, 2026Succession Custodian: JPMorgan, J.P. MORGAN CHASE BANK, N.A. replaced this provider at Coral Tree Luminary Co-Invest LP · Coral Tree Management, LPForm ADV, previous Mar 31, 2026 reports.adviserinfo.sec.gov
- Apr 15, 2026Lost Custodian: JPM replaced this provider at JAM Target Fund 5, L.P. and 1 more of the same manager’s funds · JAM Fund, LLCForm ADV, previous Mar 29, 2025 reports.adviserinfo.sec.gov
A decision is one manager’s filing that names a different provider in the role with none carried over. An acquisition is shown as a succession and never counted as won or lost; two names of one firm family are neither.
Named as custodian on 914 venture funds, 1.8% of the venture funds with a custodian on record. Won 31 and lost 138 adviser decisions from 2024 to 2026: a net loss of 107.
Who it serves, by manager type
| Funds | Managers | |
|---|---|---|
| Institutional venture firm | 328 | 76 |
| Multi-stage venture firm | 222 | 42 |
| Micro VC | 135 | 56 |
| Not classified | 106 | 37 |
| Candidate | 45 | 19 |
| Growth investor | 22 | 4 |
By fund size
| Funds | Managers | |
|---|---|---|
| Under $25M | 730 | 222 |
| $25M to $100M | 131 | 73 |
| $100M to $500M | 43 | 27 |
| $500M and over | 10 | 5 |
By manager state
| Funds | Managers | |
|---|---|---|
| California | 337 | 97 |
| New York | 149 | 33 |
| Massachusetts | 41 | 11 |
| Florida | 34 | 6 |
| Texas | 23 | 9 |
| Colorado | 9 | 3 |
Adviser decisions by year
| Filing year | Won (funds) | Lost (funds) | By acquisition |
|---|---|---|---|
| 2026 | 1 (1) | 15 (32) | 0 in, 21 out |
| 2025 | 3 (10) | 90 (373) | 0 in, 202 out |
| 2024 | 27 (44) | 33 (77) | 1 in, 76 out |
| 2023 | 19 (96) | 12 (26) | 6 in, 9 out |
| 2022 | 16 (30) | 13 (26) | 0 in, 1 out |
Where it wins and loses: manager type
| Won | Lost | |
|---|---|---|
| Institutional venture firm | 15 | 51 |
| Multi-stage venture firm | 9 | 26 |
| Not classified | 0 | 23 |
| Private equity with venture activity | 2 | 9 |
| Candidate | 2 | 7 |
| Corporate venture | 2 | 7 |
Fund size
| Won | Lost | |
|---|---|---|
| Under $25M | 15 | 41 |
| $25M to $100M | 8 | 45 |
| $100M to $500M | 7 | 48 |
| $500M and over | 1 | 5 |
Manager state
| Won | Lost | |
|---|---|---|
| California | 15 | 48 |
| New York | 1 | 15 |
| Massachusetts | 5 | 6 |
| Arizona | 3 | 1 |
| Colorado | 0 | 3 |
| Illinois | 2 | 1 |
Loses most often to
- JPMorgan32 decisions, 89 funds
- CITIZENS BANK, NATIONAL ASSOCIATION16 decisions, 92 funds
- CITIZENS BANK16 decisions, 53 funds
Wins most often from
- Silicon Valley Bank11 decisions, 21 funds
- Bank of America6 decisions, 6 funds
- JPMorgan5 decisions, 12 funds
Decisions since 2023 for the breakdowns and the lists, five filing years for the table. One manager’s filing is one decision however many funds it moves. By acquisition (a succession, never counted as won or lost): 7 in (17 funds), 309 out (1,290 funds).
The managers to call are listed by name for a reader with the venture graph. See the custodian opportunity list
- First named
- Feb 3, 2012
- Latest filing
- Aug 26, 2026
- LEI
- YWC0TIKBQM2JV8L4IV08, YWCOTIKBQM2JV8L4IVO8
- SEC file number
- 8-18401, 8-52973, 8-6196
Sources: SEC Form ADV Schedule D (Section 7.B.(1) items 23 to 28) and Form D sales compensation recipients, each row linked to its filing above.
Ask: Which venture funds switched custodian to or away from this provider in the last 12 months?
A provider can be followed from its named record.