New venture funds filed in August 2023
80 new venture funds and 345 SPVs filed their first Form D with the SEC in August 2023, with $5.62B in total target capital across the 67 funds that stated a size. The largest was Elephant Partners V, L.P. (Elephant Partners) at $800M; California led with 29 new funds; the most common sponsor sectors were AI & ML (17), B2B Software (11) and Healthcare (9). New fund filings were down 15% from July 2023 (94).
Updated from SEC Form D filings · How we count · Methodology
- New funds
- 80
- 94 in July
- New SPVs
- 345
- 376 in July
- Target capital
- $5.62B
- across 67 funds with a stated size
- Median fund
- $40M
- offering size
- Largest fund
- $800M
- Elephant Partners
- Sponsoring firms
- 75
- most in California
What was the largest venture fund filed in August 2023?
Elephant Partners V, L.P., sponsored by Elephant Partners (MA), with a $800M offering, first filed on Aug 25, 2023. The next largest was Carat Partners Fund I, L.P. (Carat Partners) at $350M.
Which states had the most new venture funds in August 2023?
California (29), New York (14), Illinois (7), Washington (5) and Florida (4), counted by the sponsoring firm's home state. California's new funds target $1.94B in total.
What sectors do the firms behind August's new funds invest in?
AI & ML (17), B2B Software (11), Healthcare (9), Fintech (7) and Biotech & Pharma (6) lead, by the sectors each sponsoring firm backs. 35 of the 80 funds come from firms with no sector on record yet.
How many SPVs were filed in August 2023?
345 new SPVs and other deal vehicles filed a first Form D in August 2023, against 80 new funds. SPVs are single-deal or co-investment vehicles and are counted separately from funds.
How does August 2023 compare with July 2023?
80 new funds against 94 (−15%), 345 SPVs against 376, and $5.62B of target capital against $6.41B.
Every new venture fund in August 2023
80 funds, largest first. Size is the total offering amount on the fund’s latest Form D; “—” means the filing gives no amount (often an indefinite offering).
| Firm | Fund | Size | State | First filed | Source |
|---|---|---|---|---|---|
| Elephant Partners | Elephant Partners V, L.P. | $800M | MA | SEC filing | |
| Carat Partners | Carat Partners Fund I, L.P. | $350M | NJ | SEC filing | |
| Smith Point Capital | Smith Point Capital Fund I, L.P. | $300M | CA | SEC filing | |
| Outlander Gamma | Outlander 3 Magellan, L.P. | $300M | FL | SEC filing | |
| FinTech Collective | FinTech Collective Fund IV LP | $300M | NY | SEC filing | |
| Telescope | Telescope Partners III, L.P. | $270M | CA | SEC filing | |
| Sound Ventures | Sound Ventures IV, L.P. | $262M | CA | SEC filing | |
| Soma Capital | Soma Capital Fund IV, LP | $200M | FL | SEC filing | |
| DNX Partners | DNX Partners IV, LP | $200M | CA | SEC filing | |
| Miracle | Miracle Plus Fund II L.P. | $200M | DE | SEC filing | |
| Eniac | Eniac Ventures VI, L.P. | $158M | NY | SEC filing | |
| A-Fund IV, L.P. | A-Fund IV, L.P. | $150M | CA | SEC filing | |
| Commerce Ventures | Commerce Ventures V, L.P. | $140M | CA | SEC filing | |
| K5 Tokyo Black | K5 Tokyo Black Fund I, LP | $115M | FL | SEC filing | |
| HCM S14Ai | HCM S14A LP | $102M | CA | SEC filing | |
| Tiferes | Tiferes Ventures II, L.P. | $100M | NY | SEC filing | |
| First Analysis | First Analysis Fund XIV-A, L.P. | $100M | IL | SEC filing | |
| Joule | Joule Ventures V, L.P. | $100M | NY | SEC filing | |
| Earth Foundry | Earth Foundry II, LP | $100M | IL | SEC filing | |
| Patron | Patron Fund II, L.P. | $100M | CA | SEC filing | |
| Siam Capital | Siam Capital Fund II, L.P. | $85M | NY | SEC filing | |
| Avant Bio | Avant Bio Fund II LP | $57.5M | NY | SEC filing | |
| Accel | Accel Leaders 4 Entrepreneurs L.P. | $54M | CA | SEC filing | |
| DFJ Growth | DFJ Growth NL Investors I, L.P. | $51M | CA | SEC filing | |
| Bios | Bios Clinical Opportunity Fund, LP | $50M | TX | SEC filing | |
| MBX Capital | MBX Capital III, LP | $50M | NY | SEC filing | |
| Black Star | Black Star Fund II LP | $50M | CA | SEC filing | |
| Mutual Capital Partners | Mutual Capital Partners Fund IV, L.P. | $50M | OH | SEC filing | |
| Mutual Capital Partners | Mutual Capital Partners Fund IV-Q, L.P. | $50M | OH | SEC filing | |
| Aurum | Aurum Fund I, L.P. | $50M | CA | SEC filing | |
| Converge | Converge Fund III, LP | $50M | MA | SEC filing | |
| Filament | Filament 2024, LP | $45M | NY | SEC filing | |
| Linse Capital | Linse Capital Space LLC | $40.4M | PR | SEC filing | |
| Starting Line | Starting Line Fund III-A, L.P. | $40M | IL | SEC filing | |
| Starting Line | Starting Line Fund III, L.P. | $40M | IL | SEC filing | |
| Latitud Ventures | Latitud Ventures Fund II, L.P. | $40M | CA | SEC filing | |
| RSCM | RSCM Fund VI, L.P. | $34.6M | CA | SEC filing | |
| Kairos Continuity | Kairos Continuity RH3, L.P. | $30M | NY | SEC filing | |
| Mercato Partners Traverse IIIe | Mercato Partners Traverse IIIe, L.P. | $30M | UT | SEC filing | |
| Sovereign's Kingdom | Sovereign's Kingdom A, LP | $30M | GA | SEC filing | |
| Authentic | Authentic Ventures III, L.P. | $27.4M | CA | SEC filing | |
| Garden Gate Partners | Garden Gate Partners, LLC | $25M | NY | SEC filing | |
| Light Ray | Light Ray Fund, LP | $21M | NY | SEC filing | |
| ECP Opportunities C1 | ECP Opportunities C1, LLC | $20.1M | CA | SEC filing | |
| Electrify 1 Partners | Electrify 1 Partners LLC | $20M | IL | SEC filing | |
| LiveOak | LiveOak Select Fund I, L.P. | $20M | TX | SEC filing | |
| Mythos Ventures | Mythos Ventures Fund I, L.P. | $16M | CA | SEC filing | |
| AVCF6 | AVCF6 LP | $15.4M | FL | SEC filing | |
| Dream Capital | Dream Capital Fund I LP | $15M | IL | SEC filing | |
| SmartGate Seed | SmartGate Seed Fund II, L.P. | $15M | CA | SEC filing | |
| UpWest Labs | UpWest Labs Opportunity Fund I LP | $14.1M | CA | SEC filing | |
| Commerce Ventures | Commerce Ventures V-A, L.P. | $13.5M | CA | SEC filing | |
| Kaya Founders | Kaya Founders One to Ten Fund, L.P. | $13.3M | E9 | SEC filing | |
| NOVA Prime | NOVA Prime Fund I, LP | $12.1M | CA | SEC filing | |
| ISEIFoundation | ISEIFoundation, LP B | $10.8M | IL | SEC filing | |
| M1720 | M1720 Fund I, L.P. | $10M | NJ | SEC filing | |
| Founders You Should Know | Founders You Should Know Fund I, L.P. | $10M | CA | SEC filing | |
| Samaritan Partners | Samaritan Partners Fund I, LP | $10M | CT | SEC filing | |
| Graph Paper Capital | Graph Paper Capital Fund I, L.P. | $10M | WA | SEC filing | |
| Ravikant Capital | Ravikant Capital, LP - D3 | $7.35M | WA | SEC filing | |
| FinTech Ventures | FinTech Ventures Fund II LP | $6.93M | GA | SEC filing | |
| Peer VC | Peer VC, LP - C2 | $5.78M | WA | SEC filing | |
| Kamal Ravikant Capital | Kamal Ravikant Capital, LP - C4 | $5.76M | WA | SEC filing | |
| SHL Capital | SHL Capital, LP - D1 | $4.85M | WA | SEC filing | |
| PLUS Collective | PLUS Collective Access IIA, L.P. | $4M | CA | SEC filing | |
| TTV | TTV Koho Opportunity Investment Fund, LP | $4M | GA | SEC filing | |
| Palm Tree Crew Daring Partners | Palm Tree Crew Daring Partners LLC | $3.22M | NJ | SEC filing | |
| Galvanize | Galvanize I&E Employee Co-Investment FUND I, LP | — | CA | SEC filing | |
| Seva | Seva I-B LP | — | NY | SEC filing | |
| Seva | Seva I-C LP | — | NY | SEC filing | |
| R&S Avalanche Infrastructure | R&S Avalanche Infrastructure Fund, LP | — | NY | SEC filing | |
| Mechanica Partners | Mechanica Partners Fund I, LP | — | DE | SEC filing | |
| Ohio Innovation | Ohio Innovation Fund II, L.P. | — | OH | SEC filing | |
| HCM S14Ai | HCM S14ai LP | — | CA | SEC filing | |
| Minerals Harvesting Cook Islands | Minerals Harvesting Cook Islands, LP | — | DC | SEC filing | |
| Nirman Ventures LP1 | Nirman Ventures LP1 LP | — | DE | SEC filing | |
| TPB | TPB Ii-B, LP | — | CA | SEC filing | |
| Akankshu Dhawan | Akankshu Dhawan Fund IV, LP | — | CA | SEC filing | |
| Soundwaves | SOUNDWAVES Side Car I, LP | — | CA | SEC filing | |
| GRCF2 Greaterindustries | GRCF2 Greaterindustries SPV1, LP | — | CA | SEC filing |
New funds by state
By the sponsoring firm’s home state.
| State | New funds | SPVs | Fund target |
|---|---|---|---|
| California | 29 | 15 | $1.94B |
| New York | 14 | 5 | $972M |
| Illinois | 7 | 2 | $326M |
| Washington | 5 | 207 | $33.7M |
| Florida | 4 | 9 | $630M |
| Delaware | 3 | 42 | $200M |
| Georgia | 3 | 1 | $40.9M |
| New Jersey | 3 | 1 | $363M |
| Ohio | 3 | 1 | $100M |
| Massachusetts | 2 | 5 | $850M |
| Texas | 2 | 5 | $70M |
| Utah | 1 | 3 | $30M |
| District of Columbia | 1 | 2 | — |
| Puerto Rico | 1 | 1 | $40.4M |
| Connecticut | 1 | 0 | $10M |
New funds by sector
By the sectors the sponsoring firm backs; a fund counts in each. 35 funds’ firms have no sector on record.
| Sector | New funds | SPVs | Fund target |
|---|---|---|---|
| AI & ML | 17 | 89 | $1.41B |
| B2B Software | 11 | 37 | $2.01B |
| Healthcare | 9 | 36 | $553M |
| Fintech | 7 | 7 | $544M |
| Biotech & Pharma | 6 | 32 | $357M |
| Cybersecurity | 5 | 22 | $175M |
| Consumer | 5 | 14 | $939M |
| Climate & Energy | 4 | 36 | $161M |
| Deep Tech | 4 | 8 | $176M |
| Media, Gaming & Creator | 4 | 3 | $150M |
| Crypto & Web3 | 3 | 6 | $364M |
| Hardware & Robotics | 3 | 3 | $321M |
| E-commerce & Retail | 3 | 0 | $954M |
| Food & Agriculture | 2 | 22 | $100M |
| Developer Tools | 2 | 3 | $300M |
New SPVs and deal vehicles in August 2023
The 50 largest of 345; each sponsor’s profile lists the rest of its deal vehicles.
Show the 50 largest SPVs
| Firm | Fund | Size | State | First filed | Source |
|---|---|---|---|---|---|
| First Analysis | First Analysis Fund XIV (Cayman), L.P. | $100M | IL | SEC filing | |
| Pelion | Pelion Ventures VIII - Entrepreneurs Fund, L.P. | $23.9M | UT | SEC filing | |
| Ride Home | Fund I, a series of Ride Home AI Fund, LP | $15M | WA | SEC filing | |
| Ravelin Capital | RC I, a series of Ravelin Capital, LP | $10.4M | WA | SEC filing | |
| Earthling Ventures | Fund I a series of Earthling Ventures, LP | $5M | WA | SEC filing | |
| Trapital Ventures | Fund I, a series of Trapital Ventures, LP | $5M | WA | SEC filing | |
| Spring Tide | Impulse Jul 2023 a Series of Spring Tide Master II LLC | $4.12M | DE | SEC filing | |
| Epsilon | Epsilon SPV IV, L.P. | $3.7M | DC | SEC filing | |
| LBS Investments | S23, a series of LBS Investments I, LP | $3.01M | WA | SEC filing | |
| Portal Ventures | Portal Ventures Urbit Co Invest LP | $2.98M | TX | SEC filing | |
| Coral Ventures | Coral Ventures LP Series I | $2.95M | PR | SEC filing | |
| AVSF | AVSF - Enfabrica 2023, LLC | $2.91M | NH | SEC filing | |
| Kaya Founders | Kaya Founders Zero to One Fund, L.P. | $2.87M | E9 | SEC filing | |
| Kinship Open AI | Kinship Open AI LLC | $2.84M | FL | SEC filing | |
| VSV | VSV Co-Invest IX LLC | $2.7M | FL | SEC filing | |
| Davidovs Venture Capital | Davidovs Venture Capital, LP - B4 | $2.66M | WA | SEC filing | |
| Avcf6a | Avcf6a LP | $2.56M | FL | SEC filing | |
| SINC | Fund 001, a series of SINC Master Fund, LLC | $2.5M | NY | SEC filing | |
| AVSF | AVSF - StatusPRO 2023, LLC | $2.5M | NH | SEC filing | |
| IKJ Health Innovation | IKJ Health Innovation II LP | $2.47M | CA | SEC filing | |
| LBS Investments | QP-S23, a series of LBS Investments I, LP | $2.4M | WA | SEC filing | |
| Chris Golda Investments | S23, a series of Chris Golda Investments, LP | $2.36M | WA | SEC filing | |
| The 81 Collection | SPV I Jun 2023 a Series of The 81 Collection LLC | $2.35M | IL | SEC filing | |
| Chris Golda Investments | QP-S23, a series of Chris Golda Investments, LP | $2.34M | WA | SEC filing | |
| Castor Ventures | Castor Ventures Fund 8, LLC | $2.26M | NH | SEC filing | |
| AVSF | AVSF - Ascend Elements 2023B, LLC | $2.24M | NH | SEC filing | |
| VSV | VSV Co-Invest VIII LLC | $2.17M | FL | SEC filing | |
| BBQ Launcher Fund 0.1 | Fund II, a series of BBQ Launcher Fund 0.1, LP | $2.11M | WA | SEC filing | |
| J2 Ventures Strategic | J2 Venture Strategic Opportunities B, L.P. | $2.1M | MA | SEC filing | |
| dk2i AL | FE-0705 Fund I, a series of dk2i AL, LP | $2.1M | WA | SEC filing | |
| Anchor Capital | Petal a Series of Anchor Capital GP II LLC | $2.06M | MA | SEC filing | |
| Digital Health VC Partners | MA-0613, a series of Digital Health VC Partners I, LP | $2.06M | WA | SEC filing | |
| GSBackers Forum Brands | GSBackers Forum Brands Fund I a Series of CGF2021 LLC | $2.01M | DE | SEC filing | |
| Liz Wessel | S23, a series of Liz Wessel Funds, LP | $2M | WA | SEC filing | |
| JJ Fliegelman | S23, a series of JJ Fliegelman Funds, LP | $2M | WA | SEC filing | |
| OWC Blockchain Scout | OWC Blockchain Scout Fund, LP | $2M | WA | SEC filing | |
| Central Coast Ventures SLO | Central Coast Ventures SLO, LLC | $1.84M | CA | SEC filing | |
| Silent Capital | Silent Capital V, a series of Silent Capital Holdings, LP | $1.81M | WA | SEC filing | |
| Healthy Life Capital Partners | Healthy Life Capital Partners LLC | $1.75M | CA | SEC filing | |
| FA42 | FA42 Fund I, a series of Roll Up Vehicles, LP | $1.75M | WA | SEC filing | |
| Smart Society Ventures | Smart Society Ventures Fund LLC - Series 1 | $1.72M | MA | SEC filing | |
| HRZ Select Tempest | FU-0508 Fund I, a series of HRZ Select Tempest, LP | $1.65M | WA | SEC filing | |
| Rizvi | Rizvi Energy LLC | $1.6M | FL | SEC filing | |
| Triphammer Ventures | Triphammer Ventures Fund 6, LLC | $1.48M | NH | SEC filing | |
| Castor Ventures | Castor Ventures Fund 8Q, LLC | $1.46M | NH | SEC filing | |
| Raba Partners | Stitch Mar 2023 a Series of Raba Partners LLC | $1.4M | DE | SEC filing | |
| Snowball Labs Seed | Snowball Labs Seed SPV, a Series of Vauban Platform LP | $1.39M | DE | SEC filing | |
| OurCrowd | OurCrowd (Investment in Humne) L.P. | $1.31M | L3 | SEC filing | |
| Blackhorn | Blackhorn AG SPV, LP | $1.28M | CO | SEC filing | |
| Coelius Capital | Coelius Capital Rolling Fund, LP - C4 | $1.27M | WA | SEC filing |
How we count
A new fund is a pooled investment vehicle that a US issuer marked “Venture Capital Fund” on SEC Form D, whose first original Form D notice (amendments don’t count) is dated in August 2023. Each one is attributed to the firm that sponsors it. A fund is counted once, in the month it first filed, however many amendments follow. Parallel and feeder vehicles that file separately are counted separately.
SPVs are single-deal, co-investment, sidecar and syndicate vehicles, series of a master fund, and offerings under $3M; they are counted apart from funds. Target capital is the sum of the total offering amounts on each fund’s latest Form D, for funds that state one; it is what the fund is raising, not what has closed. State and sector come from the sponsoring firm’s profile.
Form D filings can arrive late, so recent months can grow after a data rebuild. Months are published once they have at least 10 new funds. The data covers the last 15 quarters of the SEC’s Form D data sets. Full sources and field definitions are in the methodology.