Initialized Capital Management, LLC
San Francisco, CA · CRD 170329
Venture capital managerExempt reporting
Initialized Capital Management, LLC is an exempt reporting adviser based in San Francisco, CA that reports managing 23 private funds on Form ADV, including 23 venture capital funds. Its private funds hold $3.1 billion in gross assets.
- Regulatory assets under management
- —Form ADV Item 5.F
- Gross assets of private funds
- $3.1 billionAll private fund types, Form ADV
- Private funds managed
- 23PE 0 · VC 23 · hedge 0
- Employees
- —Form ADV Item 5.A
- Registration
- Exempt reporting adviserCRD 170329
- Latest Form ADV
- 03/27/2026Disciplinary disclosures: none reported
Venture capital funds filing Form D (2)
Fund
First sale
Raised
Investors
Minimum
Offering
Initialized VII L.P.
San Francisco, CA
First saleSep 2025
Raised$114M
Investors26
MinimumNone set
Offering506(b)
Initialized VII Associates L.P.
San Francisco, CAEmerging
First saleSep 2025
Raised$5.0M
Investors1
MinimumNone set
Offering506(b)
Matched to this firm by the fund names and related persons in each Form D. The list may be incomplete.
Private funds reported on Form ADV (14)
Fund
Gross assets
Minimum
Owners
Adviser
Initialized III L.P.
Delaware, United StatesVenture capital fund
Gross assets$1.1B
MinimumNone set
Owners68
AdviserInitialized Capital Management, LLC
Initialized IV L.P.
Delaware, United StatesVenture capital fund
Gross assets$632M
MinimumNone set
Owners40
AdviserInitialized Capital Management, LLC
Initialized Superclass Iss L.P.
Delaware, United StatesVenture capital fund
Gross assets$224M
MinimumNone set
Owners24
AdviserInitialized Capital Management, LLC
Initialized V L.P.
Delaware, United StatesVenture capital fund
Gross assets$212M
MinimumNone set
Owners39
AdviserInitialized Capital Management, LLC
Initialized VI L.P.
Delaware, United StatesVenture capital fund
Gross assets$188M
MinimumNone set
Owners74
AdviserInitialized Capital Management, LLC
Initialized Annex L.P.
Delaware, United StatesVenture capital fund
Gross assets$146M
MinimumNone set
Owners35
AdviserInitialized Capital Management, LLC
Initialized II, L.P.
Delaware, United StatesVenture capital fund
Gross assets$135M
MinimumNone set
Owners41
AdviserInitialized Capital Management, LLC
Initialized Superclass II L.P.
Delaware, United StatesVenture capital fund
Gross assets$51.3M
MinimumNone set
Owners24
AdviserInitialized Capital Management, LLC
Initialized IV Associates L.P.
Delaware, United StatesVenture capital fund
Gross assets$20.9M
MinimumNone set
Owners55
AdviserInitialized Capital Management, LLC
Initialized Capital Special Opportunities Fund I, L. P.
Delaware, United StatesVenture capital fund
Gross assets$15.0M
MinimumNone set
Owners36
AdviserInitialized Capital Management, LLC
Initialized Robin Fund, LP
Delaware, United StatesVenture capital fund
Gross assets$11.1M
Minimum$5.1M
Owners1
AdviserInitialized Capital Management, LLC
Initialized V Associates L.P.
Delaware, United StatesVenture capital fund
Gross assets$9.1M
MinimumNone set
Owners49
AdviserInitialized Capital Management, LLC
Initialized Annex Associates L.P.
Delaware, United StatesVenture capital fund
Gross assets$6.4M
MinimumNone set
Owners23
AdviserInitialized Capital Management, LLC
Initialized VI Associates L.P.
Delaware, United StatesVenture capital fund
Gross assets$3.5M
MinimumNone set
Owners2
AdviserInitialized Capital Management, LLC
As reported in the adviser's Form ADV filed Oct 30, 2024. Funds also listed from Form D are shown above.
Fund vehicles: feeder funds and single-deal vehicles (8)
Fund
Gross assets
Minimum
Owners
Adviser
Initialized Fg Spv LLC
Delaware, United StatesVenture capital fund
Gross assets$22.7M
MinimumNone set
Owners1
AdviserInitialized Capital Management, LLC
Initialized Robin Hbf Spv LLC
Delaware, United StatesVenture capital fund
Gross assets$22.4M
MinimumNone set
Owners1
AdviserInitialized Capital Management, LLC
Initialized Pa Spv LLC
Delaware, United StatesVenture capital fund
Gross assets$15.4M
MinimumNone set
Owners2
AdviserInitialized Capital Management, LLC
Initialized Cbh Spv LLC
Delaware, United StatesVenture capital fund
Gross assets$13.1M
MinimumNone set
Owners5
AdviserInitialized Capital Management, LLC
Initialized Ep Spv, LLC
Delaware, United StatesVenture capital fund
Gross assets$5.4M
MinimumNone set
Owners18
AdviserInitialized Capital Management, LLC
Initialized Pat Spv LLC
Delaware, United StatesVenture capital fund
Gross assets$3.4M
MinimumNone set
Owners8
AdviserInitialized Capital Management, LLC
Initialized Ic Spv, LLC
Delaware, United StatesVenture capital fund
Gross assets$2.6M
MinimumNone set
Owners10
AdviserInitialized Capital Management, LLC
Initialized Tp Spv LLC
Delaware, United StatesVenture capital fund
Gross assets$2.5M
MinimumNone set
Owners8
AdviserInitialized Capital Management, LLC
Feeder funds invest through a master fund; single-deal vehicles (SPVs, co-investments, series) hold one investment.
From SEC filings. Firm data comes from the SEC's Form ADV data. AltMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures