This provider
The service provider's name, 2,538 additional funds served, 124 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
- Won2 funds
Deepwater Asset Management, LLC moved 2 funds to this provider as administrator, from MG STOVER & CO..
A new client relationship, first shown on this filing.
- Lost7 funds
Goat Rodeo Capital Advisors, LLC moved 7 funds from this provider to GRYPHON FUND GROUP, LLC as administrator.
A client that left; the filing names who replaced this provider.
- Lost2 funds
Principal Vp Management Company LLC moved 2 funds from this provider to Carta as administrator.
A client that left; the filing names who replaced this provider.
- 9 / 19decisions won / lost
In the last 12 months advisers moved 37 funds to this provider (9 decisions) and 81 away (19 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 |
|---|---|---|---|---|---|
| Openai Startup Fund I, L.P. | Openai Startup Fund Management, LLC | Administrator | unknown | $3.8B | Form ADV Mar 13, 2026 reports.adviserinfo.sec.gov |
| GGV Capital V L.P. | GGV Capital LLC | Administrator | 2014 | $2.2B | Form ADV Mar 30, 2026 reports.adviserinfo.sec.gov |
| A Capital Partners II, LP | A.capital Ventures | Administrator | unknown | $1.8B | Form ADV Mar 24, 2026 reports.adviserinfo.sec.gov |
- GGV Capital LLC22 funds, $7.2B reported gross assets
- Future Ventures15 funds, $6.5B reported gross assets
- Craft Ventures Management LP71 funds, $6.2B reported gross assets
- Aug 12, 2026Won Administrator: this provider replaced MG STOVER & CO. at Deepwater Spv II LP and 1 more of the same manager’s funds · Deepwater Asset Management, LLCForm ADV, previous Mar 20, 2026 reports.adviserinfo.sec.gov
- Apr 1, 2026Lost Administrator: GRYPHON FUND GROUP, LLC replaced this provider at Goat Rodeo Capital Fund II, LP and 6 more of the same manager’s funds · Goat Rodeo Capital Advisors, LLCForm ADV, previous Mar 7, 2025 reports.adviserinfo.sec.gov
- Apr 1, 2026Lost Administrator: Carta replaced this provider at Principal Venture Partners, L.P. and 1 more of the same manager’s funds · Principal Vp Management Company LLCForm 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 administrator on 2,541 venture funds, 5.4% of the venture funds with an administrator on record. Won 41 and lost 35 adviser decisions from 2024 to 2026: a net gain of 6.
Who it serves, by manager type
| Funds | Managers | |
|---|---|---|
| Institutional venture firm | 1,044 | 206 |
| Multi-stage venture firm | 990 | 79 |
| Micro VC | 164 | 79 |
| Seed fund manager | 119 | 25 |
| Corporate venture | 86 | 9 |
| Not classified | 42 | 4 |
By fund size
| Funds | Managers | |
|---|---|---|
| Under $25M | 1,480 | 295 |
| $25M to $100M | 615 | 300 |
| $100M to $500M | 399 | 176 |
| $500M and over | 47 | 25 |
By manager state
| Funds | Managers | |
|---|---|---|
| California | 934 | 147 |
| New York | 316 | 45 |
| Texas | 101 | 23 |
| Colorado | 67 | 4 |
| Florida | 62 | 9 |
| Massachusetts | 60 | 20 |
Adviser decisions by year
| Filing year | Won (funds) | Lost (funds) | By acquisition |
|---|---|---|---|
| 2026 | 8 (34) | 17 (79) | 3 in, 0 out |
| 2025 | 13 (101) | 8 (39) | 5 in, 0 out |
| 2024 | 20 (66) | 10 (38) | 19 in, 0 out |
| 2023 | 9 (40) | 16 (135) | 60 in, 0 out |
| 2022 | 3 (4) | 20 (53) | none |
Where it wins and loses: manager type
| Won | Lost | |
|---|---|---|
| Institutional venture firm | 23 | 17 |
| Multi-stage venture firm | 7 | 7 |
| Micro VC | 2 | 5 |
| Seed fund manager | 2 | 5 |
| Not classified | 2 | 1 |
| Corporate venture | 2 | 0 |
Fund size
| Won | Lost | |
|---|---|---|
| Under $25M | 7 | 6 |
| $25M to $100M | 17 | 12 |
| $100M to $500M | 16 | 16 |
| $500M and over | 1 | 1 |
Manager state
| Won | Lost | |
|---|---|---|
| California | 11 | 18 |
| New York | 6 | 5 |
| Massachusetts | 2 | 2 |
| Maryland | 3 | 0 |
| Utah | 2 | 0 |
| Colorado | 1 | 0 |
Loses most often to
- Carta9 decisions, 17 funds
- Juniper Square3 decisions, 29 funds
- VECTOR AIS, LLC3 decisions, 7 funds
Wins most often from
- Carta22 decisions, 67 funds
- SS&C2 decisions, 3 funds
- Juniper Square2 decisions, 2 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): 87 in (380 funds), 0 out (0 funds).
The managers to call are listed by name for a reader with the venture graph. See the administrator opportunity list
- First named
- Mar 20, 2013
- Latest filing
- Aug 27, 2026
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.