This provider
The service provider's name, 141 additional funds served, 11 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
- Lost1 fund
Republic Capital moved a fund from this provider to Morgan Stanley as custodian.
A client that left; the filing names who replaced this provider.
- 0 / 1decisions won / lost
In the last 12 months advisers moved 0 funds to this provider (0 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 |
|---|---|---|---|---|---|
| Sequoia Capital Fund, L.P. | Sequoia Capital Operations, LLC | Prime broker | 2022 | $27B | Form ADV Jul 17, 2026 reports.adviserinfo.sec.gov |
| Sequoia Capital Fund, L.P. | Sequoia Capital Operations, LLC | Custodian | 2022 | $27B | Form ADV Jul 17, 2026 reports.adviserinfo.sec.gov |
| The Founders Fund VI, LP | Founders Fund LLC | Custodian | 2016 | $7.4B | Form ADV Mar 30, 2026 reports.adviserinfo.sec.gov |
- Founders Fund LLC20 funds, $37B reported gross assets
- Sequoia Capital Operations, LLC17 funds, $36B reported gross assets
- Thrive Capital2 funds, $2.5B reported gross assets
- Mar 27, 2026Lost Custodian: Morgan Stanley replaced this provider at Rcapital Spv Xx, a Series of Republic Capital Master Fund, LP · Republic CapitalForm ADV, previous Jul 28, 2025 reports.adviserinfo.sec.gov
- Mar 26, 2026Rename Prime broker: COINBASE, INC. replaced this provider at Amplify III Pcc and 1 more of the same manager’s funds · Ashwood Capital Management LtdForm ADV, previous Mar 24, 2025 reports.adviserinfo.sec.gov
- Mar 28, 2025Won Custodian: this provider replaced LEWIS & CLARK BANCORP at Rcapital Spv Xx, a Series of Republic Capital Master Fund, LP and 3 more of the same manager’s funds · Republic CapitalForm ADV, previous Jul 29, 2024 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 113 venture funds, 0.2% 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 | |
|---|---|---|
| Multi-stage venture firm | 50 | 9 |
| Institutional venture firm | 24 | 14 |
| Private equity with venture activity | 14 | 5 |
| Syndicate platform | 12 | 1 |
| Corporate venture | 9 | 3 |
| Candidate | 6 | 3 |
By fund size
| Funds | Managers | |
|---|---|---|
| Under $25M | 30 | 14 |
| $25M to $100M | 29 | 20 |
| $100M to $500M | 30 | 18 |
| $500M and over | 34 | 14 |
By manager state
| Funds | Managers | |
|---|---|---|
| California | 52 | 11 |
| New York | 44 | 12 |
| Massachusetts | 4 | 3 |
| Connecticut | 1 | 1 |
| Florida | 1 | 1 |
| Illinois | 1 | 1 |
Adviser decisions by year
| Filing year | Won (funds) | Lost (funds) | By acquisition |
|---|---|---|---|
| 2026 | 0 (0) | 1 (1) | none |
| 2025 | 2 (5) | 0 (0) | none |
| 2024 | 3 (9) | 0 (0) | none |
| 2023 | 0 (0) | 1 (2) | 2 in, 0 out |
Where it wins and loses: manager type
| Won | Lost | |
|---|---|---|
| Syndicate platform | 4 | 1 |
| Institutional venture firm | 1 | 0 |
Fund size
| Won | Lost | |
|---|---|---|
| Under $25M | 3 | 1 |
| $25M to $100M | 2 | 0 |
Manager state
| Won | Lost | |
|---|---|---|
| New York | 4 | 1 |
Loses most often to
- Morgan Stanley1 decision, 1 fund
Wins most often from
- LEWIS & CLARK BANCORP2 decisions, 5 funds
- EVOLVE BANCORP, INC.1 decision, 6 funds
- Carta1 decision, 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): 2 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, 2020
- 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 custodian to or away from this provider in the last 12 months?
A provider can be followed from its named record.