This provider
The service provider's name, 126 additional funds served, 7 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
South Park Commons Management moved a fund to this provider as custodian, from First Citizens Bank, COLUMN NATIONAL ASSOCIATION.
A new client relationship, first shown on this filing.
- Won1 fund
Surface Venture Management, LLC moved a fund to this provider as custodian, from DEUTSCHE BANK TRUST COMPANY AMERICAS.
A new client relationship, first shown on this filing.
- Lost1 fund
Bewater Consultoria Aogf Ltda. moved a fund from this provider to First Citizens Bank as custodian.
A client that left; the filing names who replaced this provider.
- 3 / 1decisions won / lost
In the last 12 months advisers moved 3 funds to this provider (3 decisions) and 1 away (1 decision).
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 |
|---|---|---|---|---|---|
| Flex Capital Fund II, L.P. | Flex Capital Management, L.L.C. | Custodian | 2022 | $158M | Form ADV Mar 31, 2026 reports.adviserinfo.sec.gov |
| SNR -5 Db, L.P. | SNR Ventures Management, LLC | Custodian | 2024 | $121M | Form ADV Jun 17, 2026 reports.adviserinfo.sec.gov |
| SNR -4 Db, L.P. | SNR Ventures Management, LLC | Custodian | 2021 | $116M | Form ADV Jun 17, 2026 reports.adviserinfo.sec.gov |
- SNR Ventures Management, LLC4 funds, $338M reported gross assets
- Flex Capital Management, L.L.C.2 funds, $237M reported gross assets
- The Legaltech Fund Management Co., L.L.C.4 funds, $149M reported gross assets
- Mar 30, 2026Won Custodian: this provider replaced First Citizens Bank, COLUMN NATIONAL ASSOCIATION at Ff3 Dao, LLC · South Park Commons ManagementForm ADV, previous Mar 5, 2025 reports.adviserinfo.sec.gov
- Mar 26, 2026Won Custodian: this provider replaced DEUTSCHE BANK TRUST COMPANY AMERICAS at RTP Seed Ventures, LP · Surface Venture Management, LLCForm ADV, previous Apr 1, 2025 reports.adviserinfo.sec.gov
- Mar 16, 2026Lost Custodian: First Citizens Bank replaced this provider at Bewater Ventures Spv Revelo 2, LLC · Bewater Consultoria Aogf Ltda.Form ADV, previous Mar 22, 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 129 venture funds, 0.3% of the venture funds with a custodian on record. Won 5 and lost 1 adviser decisions from 2024 to 2026: a net gain of 4.
Who it serves, by manager type
| Funds | Managers | |
|---|---|---|
| Institutional venture firm | 83 | 18 |
| Multi-stage venture firm | 20 | 3 |
| Micro VC | 18 | 10 |
| Seed fund manager | 3 | 2 |
| Not classified | 3 | 0 |
| Candidate | 1 | 1 |
By fund size
| Funds | Managers | |
|---|---|---|
| Under $25M | 100 | 30 |
| $25M to $100M | 24 | 14 |
| $100M to $500M | 5 | 4 |
By manager state
| Funds | Managers | |
|---|---|---|
| California | 32 | 6 |
| Illinois | 8 | 2 |
| Florida | 7 | 3 |
| Massachusetts | 3 | 1 |
| Texas | 3 | 2 |
| Utah | 3 | 3 |
Adviser decisions by year
| Filing year | Won (funds) | Lost (funds) | By acquisition |
|---|---|---|---|
| 2026 | 2 (2) | 1 (1) | none |
| 2025 | 2 (5) | 0 (0) | 2 in, 0 out |
| 2024 | 1 (1) | 0 (0) | 1 in, 0 out |
| 2023 | 1 (2) | 0 (0) | none |
Where it wins and loses: manager type
| Won | Lost | |
|---|---|---|
| Institutional venture firm | 4 | 0 |
| Growth investor | 0 | 1 |
| Multi-stage venture firm | 1 | 0 |
Fund size
| Won | Lost | |
|---|---|---|
| Under $25M | 2 | 1 |
| $25M to $100M | 3 | 0 |
Manager state
| Won | Lost | |
|---|---|---|
| California | 3 | 0 |
| New York | 1 | 0 |
Loses most often to
- First Citizens Bank1 decision, 1 fund
Wins most often from
- First Republic Bank2 decisions, 5 funds
- First Citizens Bank1 decision, 1 fund
- COASTAL COMMUNITY BANK1 decision, 1 fund
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): 3 in (3 funds), 0 out (0 funds).
The managers to call are listed by name for a reader with the venture graph. See the custodian opportunity list
- First named
- Mar 27, 2023
- Latest filing
- Aug 25, 2026
- LEI
- 549300BB4LSE4JRRGV15
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.