This provider
The service provider's name, 6 additional funds served, 23 provider changes
Every relationship, signal and contact on this record, with the source on each.
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What matters now
- Lost7 funds
Sempervirens Ventures LLC moved 7 funds from this provider to Carta as administrator.
A client that left; the filing names who replaced this provider.
- Lost5 funds
MFV Partners Management, LLC moved 5 funds from this provider to Carta as administrator.
A client that left; the filing names who replaced this provider.
- Lost1 fund
Sanderling Management Company, LLC moved a fund from this provider to Apex Group as administrator.
A client that left; the filing names who replaced this provider.
- 0 / 3decisions won / lost
In the last 12 months advisers moved 0 funds to this provider (0 decisions) and 13 away (3 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 |
|---|---|---|---|---|---|
| The US Energy Fund, L.P. | US Energy Ventures, LLC | Administrator | 2017 | $50.0M | Form ADV Dec 6, 2018 sec.gov |
| Innovations for Impact, LP | Innovations for Impact GP, LLC | Administrator | unknown | $6.7M | Form ADV Apr 1, 2021 sec.gov |
| Sanderling IV Biomedical Co-Investment Fund, L.P. | Sanderling Management Company, LLC | Administrator | unknown | not reported | Form ADV Apr 3, 2023 sec.gov |
- US Energy Ventures, LLC1 fund, $50.0M reported gross assets
- Innovations for Impact GP, LLC1 fund, $6.7M reported gross assets
- Sanderling Management Company, LLC5 funds
- Mar 31, 2026Lost Administrator: Carta replaced this provider at SV Growth Opportunity Fund II Nqp LP and 6 more of the same manager’s funds · Sempervirens Ventures LLCForm ADV, previous Mar 30, 2025 reports.adviserinfo.sec.gov
- Mar 31, 2026Lost Administrator: Carta replaced this provider at Mfvp Opportunity Fund I, LLC and 4 more of the same manager’s funds · MFV Partners Management, LLCForm ADV, previous Mar 31, 2025 reports.adviserinfo.sec.gov
- Mar 31, 2026Lost Administrator: Apex Group replaced this provider at Sanderling V Strategic Exit Fund, L.P. · Sanderling Management Company, LLCForm ADV, previous Apr 2, 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 9 venture funds, 0.0% of the venture funds with an administrator on record. Won 0 and lost 12 adviser decisions from 2024 to 2026: a net loss of 12.
Who it serves, by manager type
| Funds | Managers | |
|---|---|---|
| Institutional venture firm | 7 | 3 |
| Micro VC | 1 | 1 |
| Multi-stage venture firm | 1 | 1 |
By fund size
| Funds | Managers | |
|---|---|---|
| Under $25M | 8 | 4 |
| $25M to $100M | 1 | 1 |
By manager state
| Funds | Managers | |
|---|---|---|
| California | 8 | 4 |
Adviser decisions by year
| Filing year | Won (funds) | Lost (funds) | By acquisition |
|---|---|---|---|
| 2026 | 0 (0) | 3 (13) | none |
| 2025 | 0 (0) | 5 (16) | none |
| 2024 | 0 (0) | 4 (19) | none |
| 2023 | 3 (8) | 3 (6) | none |
| 2022 | 0 (0) | 2 (14) | none |
Where it wins and loses: manager type
| Won | Lost | |
|---|---|---|
| Institutional venture firm | 0 | 5 |
| Multi-stage venture firm | 0 | 5 |
| Micro VC | 0 | 1 |
| Seed fund manager | 0 | 1 |
Fund size
| Won | Lost | |
|---|---|---|
| Under $25M | 0 | 4 |
| $25M to $100M | 0 | 4 |
| $100M to $500M | 0 | 1 |
| $500M and over | 0 | 3 |
Manager state
| Won | Lost | |
|---|---|---|
| California | 0 | 7 |
| Texas | 0 | 2 |
Loses most often to
- Carta5 decisions, 16 funds
- Apex Group3 decisions, 20 funds
- SEI2 decisions, 4 funds
Wins most often from
No adviser moved a fund to this provider in the last three years.
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 30, 2015
- Latest filing
- Apr 3, 2023
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.