Venture Capital Fund Filings Tracker

Venture capital fundraising is one of the most closely watched indicators of innovation economy health. This report tracks 469 SEC-registered investment advisers that manage at least one venture capital fund, overseeing a combined 4,325 VC funds with aggregate AUM of $5126.0B.

The data is sourced from Form ADV filings, which provide a reliable and standardized view of the VC landscape. Unlike industry surveys that capture only a subset of the market, SEC filings cover all registered advisers, including smaller and emerging managers that may not participate in voluntary data collection.

For GP stakes investors, the VC fund universe presents a distinct opportunity set. Venture firms with strong track records and consistent fund formation generate predictable management fee streams. However, the binary nature of venture returns and the longer path to carry generation create different valuation dynamics compared to buyout-focused GP stakes targets. Understanding the breadth of the VC adviser universe helps identify potential targets and assess competitive positioning.

Geographic concentration remains a defining feature of the VC industry. While new hubs are emerging, the traditional centers of venture capital continue to dominate in terms of both adviser count and aggregate assets under management. The state-level breakdown below illustrates this concentration pattern.