Venture Capital
Commerce Ventures
Commerce Ventures backs early-stage and high-growth companies, typically pre-profit, from San Francisco, United States. It states a focus on software & internet, financial services and consumer & retail.
SEC filings
What Commerce Ventures has raised
From this firm's own Form D filings. A fund files one within fifteen days of its first sale, under penalty of perjury, which makes these the hardest numbers on the page.
| Vehicles filed | 7 |
| Total capital raised | $341m |
| Largest single vehicle | $140m |
| Filing history | 2013 to 2023 |
| Smallest accepted commitment | None stated |
| Filed from | CALIFORNIA |
Form D covers US-domiciled vehicles raised from accredited investors. It will not capture a fund raised outside the United States, separately managed accounts, or capital deployed off balance sheet, so treat these as a floor rather than a total.
Regulatory record
How Commerce Ventures is registered
From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.
| Adviser status | Exempt reporting adviser |
| Regulatory assets under management | Not reported by an ERA |
| Private funds advised | 38 · $889m gross |
| SEC adviser number | CRD 167328 |
An exempt reporting adviser is not required to report regulatory assets under management, so the blank above means the question was not asked rather than that the answer is unknown. Where a figure exists it is the gross asset value of the private funds the firm advises, which is a different and usually larger measure.
Valuation context
Transaction values in Software & Internet
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Comparable investors
Similar mandates
Other venture capital investors active in software & internet.