This provider
The service provider's name, 305 additional funds served, 85 provider changes
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
- Won8 funds
FIN Capital moved 8 funds to this provider as administrator, from Juniper Square.
A new client relationship, first shown on this filing.
- Lost2 funds
Unicorn Dx Advisors Limited moved 2 funds from this provider to INTERTRUST FUND SERVICES (HK) LIMITED as administrator.
A client that left; the filing names who replaced this provider.
- Lost1 fund
Formentera Partners LP moved a fund from this provider to Standish Management as administrator.
A client that left; the filing names who replaced this provider.
- 4 / 8decisions won / lost
In the last 12 months advisers moved 11 funds to this provider (4 decisions) and 20 away (8 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 |
|---|---|---|---|---|---|
| Nalanda India Equity Fund Limited | Nalanda Capital Pte Ltd. | Administrator | 2020 | $3.2B | Form ADV Mar 11, 2026 reports.adviserinfo.sec.gov |
| Banyan Partners Fund II, L.P. | Banyan Capital Partners Ltd. | Administrator | 2015 | $2.1B | Form ADV Mar 31, 2026 reports.adviserinfo.sec.gov |
| Gaorong Partners Fund VI, L.P. | Banyan Capital Partners Ltd. | Administrator | 2022 | $1.9B | Form ADV Mar 31, 2026 reports.adviserinfo.sec.gov |
- Banyan Capital Partners Ltd.9 funds, $6.9B reported gross assets
- Nalanda Capital Pte Ltd.2 funds, $4.0B reported gross assets
- Nexus Ventures Advisors Private Limited5 funds, $3.4B reported gross assets
- Aug 20, 2026Won Administrator: this provider replaced Juniper Square at FIN Capital Horizons Master Fund III, LP and 7 more of the same manager’s funds · FIN CapitalForm ADV, previous Jun 24, 2026 reports.adviserinfo.sec.gov
- Apr 1, 2026Lost Administrator: INTERTRUST FUND SERVICES (HK) LIMITED replaced this provider at Unicorn Partners Fund IV, L.P. and 1 more of the same manager’s funds · Unicorn Dx Advisors LimitedForm ADV, previous Mar 31, 2025 reports.adviserinfo.sec.gov
- Mar 31, 2026Lost Administrator: Standish Management replaced this provider at Formentera Partners Fund I, LP · Formentera Partners LPForm ADV, previous Apr 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 administrator on 307 venture funds, 0.7% of the venture funds with an administrator on record. Won 15 and lost 18 adviser decisions from 2024 to 2026: a net loss of 3.
Who it serves, by manager type
| Funds | Managers | |
|---|---|---|
| Institutional venture firm | 163 | 29 |
| Not classified | 52 | 13 |
| Multi-stage venture firm | 39 | 12 |
| Private equity with venture activity | 26 | 7 |
| Candidate | 17 | 7 |
| Micro VC | 6 | 6 |
By fund size
| Funds | Managers | |
|---|---|---|
| Under $25M | 141 | 44 |
| $25M to $100M | 81 | 42 |
| $100M to $500M | 57 | 32 |
| $500M and over | 29 | 15 |
By manager state
| Funds | Managers | |
|---|---|---|
| California | 61 | 11 |
| New York | 26 | 4 |
| Florida | 8 | 2 |
| Texas | 8 | 3 |
| Maryland | 5 | 2 |
| Connecticut | 2 | 1 |
Adviser decisions by year
| Filing year | Won (funds) | Lost (funds) | By acquisition |
|---|---|---|---|
| 2026 | 4 (11) | 8 (20) | none |
| 2025 | 0 (0) | 7 (24) | none |
| 2024 | 11 (26) | 3 (3) | none |
| 2023 | 20 (80) | 2 (4) | none |
| 2022 | 6 (10) | 3 (5) | none |
Where it wins and loses: manager type
| Won | Lost | |
|---|---|---|
| Institutional venture firm | 5 | 6 |
| Not classified | 1 | 6 |
| Corporate venture | 2 | 3 |
| Multi-stage venture firm | 3 | 2 |
| Candidate | 2 | 0 |
| Private equity with venture activity | 1 | 1 |
Fund size
| Won | Lost | |
|---|---|---|
| Under $25M | 1 | 2 |
| $25M to $100M | 6 | 2 |
| $100M to $500M | 8 | 13 |
| $500M and over | 0 | 1 |
Manager state
| Won | Lost | |
|---|---|---|
| New York | 3 | 2 |
| California | 4 | 0 |
| Colorado | 1 | 0 |
| Connecticut | 0 | 1 |
| Florida | 1 | 0 |
| Illinois | 1 | 0 |
Loses most often to
- Carta3 decisions, 19 funds
- Standish Management3 decisions, 10 funds
- U.S. Bank1 decision, 3 funds
Wins most often from
- Carta2 decisions, 8 funds
- Juniper Square1 decision, 8 funds
- CENTAUR FUND SERVICES US, INC.1 decision, 5 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. No change to or from this provider is recorded as an acquisition.
The managers to call are listed by name for a reader with the venture graph. See the administrator opportunity list
- First named
- Mar 26, 2019
- Latest filing
- Aug 20, 2026
- LEI
- 213800WB16RTWVWRXQ16, 254900H9TYR5WI91BD90
- SEC file number
- 8-2122482
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 administrator to or away from this provider in the last 12 months?
A provider can be followed from its named record.