RSM
1,129 additional funds served, 169 provider changes
Every relationship, signal and contact on this record, with the source on each.
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What matters now
- Lost1 fund
Great North Ventures moved a fund from RSM to CHERRY BEKAERT LLP as auditor.
A client that left; the filing names who replaced this provider.
- Lost4 funds
Friends & Family Capital Management, LLC moved 4 funds from RSM to Frank, Rimerman + Co. as auditor.
A client that left; the filing names who replaced this provider.
- 10 / 18decisions won / lost
In the last 12 months advisers moved 38 funds to RSM (10 decisions) and 55 away (18 decisions).
One adviser moving many vehicles on one filing is counted as one decision.
DerivedForm ADV and Form D filings, consecutive filings compared - Won15 funds
Highland Capital Partners moved 15 funds to RSM as auditor, from PwC.
A new client relationship, first shown on this filing.
Funds served
About this sectionA 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 |
|---|---|---|---|---|---|
| Gigafund 0.14, LP | Gigafund | Auditor | 2021 | $4.2B | Form ADV Mar 30, 2026 reports.adviserinfo.sec.gov |
| Gigafund 0.8, LP | Gigafund | Auditor | 2020 | $2.8B | Form ADV Mar 30, 2026 reports.adviserinfo.sec.gov |
| Gigafund 0.1, LP | Gigafund | Auditor | 2017 | $2.1B | Form ADV Mar 30, 2026 reports.adviserinfo.sec.gov |
Managers served
- Gigafund21 funds, $14B reported gross assets
- Firstmark Capital, LLC18 funds, $5.0B reported gross assets
- Avenir Management Company, LLC46 funds, $3.6B reported gross assets
Change history
About this sectionA switch is a fund whose provider in a role on one filing shares no provider with the previous filing. When the new firm acquired the old one, or the same firm filed under a new name, the row says so and it is not counted as won or lost. The change happened between the two filing dates printed.
- Jun 5, 2026Lost Auditor: CHERRY BEKAERT LLP replaced RSM at Great North Capital Fund II, LP · Great North VenturesForm ADV, previous Mar 30, 2024 reports.adviserinfo.sec.gov
- Mar 31, 2026Won Auditor: RSM replaced PwC at Highland Capital Partners 9 Limited Partnership and 14 more of the same manager’s funds · Highland Capital PartnersForm ADV, previous Mar 28, 2025 reports.adviserinfo.sec.gov
- Mar 31, 2026Lost Auditor: Frank, Rimerman + Co. replaced RSM at Yukon River Capital, LLC and 3 more of the same manager’s funds · Friends & Family Capital Management, LLCForm ADV, previous Jun 3, 2025 reports.adviserinfo.sec.gov
Competitive position
About this sectionA 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 auditor on 1,125 venture funds, 5.6% of the venture funds with an auditor on record. Won 25 and lost 55 adviser decisions from 2024 to 2026: a net loss of 30.
Who it serves, by manager type
| Funds | Managers | |
|---|---|---|
| Institutional venture firm | 427 | 73 |
| Multi-stage venture firm | 254 | 31 |
| Not classified | 167 | 39 |
| Micro VC | 75 | 39 |
| Candidate | 64 | 24 |
| Corporate venture | 41 | 7 |
By fund size
| Funds | Managers | |
|---|---|---|
| Under $25M | 603 | 177 |
| $25M to $100M | 277 | 128 |
| $100M to $500M | 218 | 97 |
| $500M and over | 34 | 16 |
By manager state
| Funds | Managers | |
|---|---|---|
| New York | 237 | 45 |
| Massachusetts | 235 | 33 |
| California | 61 | 21 |
| Texas | 48 | 5 |
| Colorado | 38 | 4 |
| Minnesota | 36 | 4 |
Adviser decisions by year
| Filing year | Won (funds) | Lost (funds) | By acquisition |
|---|---|---|---|
| 2026 | 10 (38) | 18 (55) | none |
| 2025 | 6 (15) | 19 (64) | none |
| 2024 | 9 (57) | 18 (48) | none |
| 2023 | 7 (18) | 20 (49) | none |
| 2022 | 3 (5) | 7 (22) | none |
Where it wins and loses: manager type
| Won | Lost | |
|---|---|---|
| Institutional venture firm | 9 | 27 |
| Not classified | 5 | 13 |
| Multi-stage venture firm | 4 | 3 |
| Micro VC | 1 | 4 |
| Syndicate platform | 2 | 2 |
| Angel fund or group | 1 | 1 |
Fund size
| Won | Lost | |
|---|---|---|
| Under $25M | 7 | 6 |
| $25M to $100M | 5 | 20 |
| $100M to $500M | 13 | 27 |
| $500M and over | 0 | 2 |
Manager state
| Won | Lost | |
|---|---|---|
| New York | 3 | 11 |
| California | 6 | 7 |
| Illinois | 0 | 4 |
| Massachusetts | 1 | 2 |
| Tennessee | 2 | 1 |
| Florida | 1 | 1 |
Loses most often to
- BDO10 decisions, 29 funds
- CohnReznick9 decisions, 28 funds
- Frank, Rimerman + Co.5 decisions, 13 funds
Wins most often from
- PwC4 decisions, 25 funds
- KPMG4 decisions, 10 funds
- HAYNIE & COMPANY2 decisions, 37 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. No change to or from this provider is recorded as an acquisition.
Who to call
The managers to call are listed by name for a reader with the venture graph. See the auditor opportunity list
Filing evidence
- First named
- Feb 10, 2012
- Latest filing
- Oct 30, 2026
- PCAOB firm id
- 104, 1545, 2071, 49, 6582, 6719, 6894
- Names as filed
- ALTAVIS GMBH (ASSOCIATE FIRM OF RSM GERMANY); CITRIN COOPERMAN & COMPANY, LLP; COHNREZNICK LLP; DELOITTE; ERNST & YOUNG; ERNST & YOUNG LLP; MCGLADREY; MCGLADREY & PULLEN; MCGLADREY & PULLEN LLP; MCGLADREY & PULLEN, LLP; MCGLADREY & PULLEN, LP; MCGLADREY LLP
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 and follow
Ask: Which venture funds switched auditor to or away from RSM in the last 12 months?
Following hears every adviser decision that moves a venture fund to or away from RSM, one item per decision, on your venture intelligence and in the weekly digest. Add fund activity at the funds it serves under Alerts.