This provider
The service provider's name, 6,070 additional funds served, 110 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
- Won1 fund
MNS Global Capital Managers, LLC moved a fund to this provider as custodian, from Morgan Stanley.
A new client relationship, first shown on this filing.
- Lost4 funds
Angellist Advisors moved 4 funds from this provider to Belltower Fund Group (AngelList) as custodian.
A client that left; the filing names who replaced this provider.
- Won4 funds
Visible Ventures moved 4 funds to this provider as custodian, from JPMorgan.
A new client relationship, first shown on this filing.
- 17 / 13decisions won / lost
In the last 12 months advisers moved 43 funds to this provider (17 decisions) and 132 away (13 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 |
|---|---|---|---|---|---|
| Draper Fisher Jurvetson Fund Ix, L.P. | Draper Fisher Jurvetson | Custodian | unknown | $11B | Form ADV Mar 30, 2026 reports.adviserinfo.sec.gov |
| Andreessen Horowitz Fund III, L.P. | Andreessen Horowitz | Custodian | unknown | $9.3B | Form ADV Mar 30, 2026 reports.adviserinfo.sec.gov |
| Andreessen Horowitz Lsv Fund III, L.P. | Andreessen Horowitz | Custodian | 2022 | $9.0B | Form ADV Mar 30, 2026 reports.adviserinfo.sec.gov |
- Andreessen Horowitz94 funds, $73B reported gross assets
- Accel Management Co. Inc.95 funds, $33B reported gross assets
- General Catalyst43 funds, $32B reported gross assets
- Jun 25, 2026Won Custodian: this provider replaced Morgan Stanley at Celesta Capital II, L.P. · MNS Global Capital Managers, LLCForm ADV, previous Apr 8, 2026 reports.adviserinfo.sec.gov
- Jun 4, 2026Lost Custodian: Belltower Fund Group (AngelList) replaced this provider at A-Crl-14-Fund, a Series of Ax-Flrs-Funds, LLC and 3 more of the same manager’s funds · Angellist AdvisorsForm ADV, previous Mar 30, 2026 reports.adviserinfo.sec.gov
- Apr 28, 2026Won Custodian: this provider replaced JPMorgan at Victress Capital Opportunity Fund, LLC - Series Three and 3 more of the same manager’s funds · Visible VenturesForm ADV, previous Mar 31, 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 6,072 venture funds, 12.3% of the venture funds with a custodian on record. Won 58 and lost 125 adviser decisions from 2024 to 2026: a net loss of 67.
Who it serves, by manager type
| Funds | Managers | |
|---|---|---|
| Institutional venture firm | 2,372 | 327 |
| Multi-stage venture firm | 2,097 | 146 |
| Not classified | 381 | 60 |
| Micro VC | 357 | 134 |
| Private equity with venture activity | 257 | 33 |
| Corporate venture | 180 | 26 |
By fund size
| Funds | Managers | |
|---|---|---|
| Under $25M | 3,940 | 613 |
| $25M to $100M | 1,051 | 444 |
| $100M to $500M | 778 | 315 |
| $500M and over | 304 | 88 |
By manager state
| Funds | Managers | |
|---|---|---|
| California | 1,719 | 254 |
| Vermont | 1,000 | 3 |
| New York | 693 | 81 |
| Massachusetts | 322 | 50 |
| Virginia | 209 | 9 |
| Illinois | 182 | 20 |
Adviser decisions by year
| Filing year | Won (funds) | Lost (funds) | By acquisition |
|---|---|---|---|
| 2026 | 16 (42) | 12 (128) | 1 in, 11 out |
| 2025 | 21 (39) | 34 (101) | 7 in, 20 out |
| 2024 | 21 (48) | 79 (203) | 3 in, 47 out |
| 2023 | 19 (64) | 67 (243) | 3 in, 116 out |
| 2022 | 32 (71) | 9 (24) | 2 in, 0 out |
Where it wins and loses: manager type
| Won | Lost | |
|---|---|---|
| Institutional venture firm | 24 | 59 |
| Multi-stage venture firm | 14 | 32 |
| Micro VC | 6 | 12 |
| Not classified | 3 | 8 |
| Private equity with venture activity | 3 | 5 |
| Syndicate platform | 3 | 4 |
Fund size
| Won | Lost | |
|---|---|---|
| Under $25M | 25 | 37 |
| $25M to $100M | 13 | 28 |
| $100M to $500M | 18 | 48 |
| $500M and over | 2 | 13 |
Manager state
| Won | Lost | |
|---|---|---|
| California | 21 | 40 |
| New York | 9 | 11 |
| Massachusetts | 1 | 11 |
| Texas | 3 | 3 |
| Colorado | 1 | 4 |
| Illinois | 0 | 5 |
Loses most often to
- JPMorgan39 decisions, 119 funds
- First Citizens Bank13 decisions, 53 funds
- Bank of America11 decisions, 21 funds
Wins most often from
- JPMorgan11 decisions, 21 funds
- First Republic Bank10 decisions, 17 funds
- First Citizens Bank6 decisions, 13 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): 16 in (39 funds), 194 out (822 funds).
The managers to call are listed by name for a reader with the venture graph. See the custodian opportunity list
- First named
- Feb 13, 2012
- Latest filing
- Aug 28, 2026
- LEI
- 0K2D5AK28E305CC06E35, 0K2D5AK28E3O5CC06E35, 549300D2KJ20JMXE7542, 549300RZFHIGIM84KN09, 549300TQGLM6XXD5TX84, OK2D5AK28E3O5CC06E35, OK2D5AK29E305CCO6E35
- SEC file number
- 8-1238168, 8-2866, 8-35008, 8-51582, 8-70327
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.