Fund of Funds
Headlands Capital
Headlands Capital invests in other funds rather than directly in companies, from San Francisco, USA.
Stated investment criteria
What Headlands Capital says it buys
Read from Headlands Capital’s own website in August 2026. This is what the firm says it buys, not what anyone has recorded it buying, and figures are shown in the currency the firm itself used - nothing here is converted. Every line links to the page it was read from.
| People listed on its team page | 221 |
Source
A stated mandate is a firm’s description of itself and was true of the page on the day it was read; firms widen and narrow what they will look at without updating the site. The team figure counts the people the firm shows on one team page, so it is a floor rather than a headcount: firms that split their team across tabs or load it in pages will read low. Nothing here is a commitment by Headlands Capital to consider any particular business, and nothing on this page is represented as being for sale.
SEC filings
What Headlands Capital 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 | 11 |
| Total capital raised | $926m |
| Largest single vehicle | $271m |
| Filing history | 2011 to 2025 |
| Smallest accepted commitment | $60k |
| 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 Headlands Capital is registered
From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.
| Adviser status | SEC registered |
| Regulatory assets under management | $949m |
| Employees | 13 |
| Private funds advised | 6 · $949m gross |
| SEC adviser number | CRD 163598 |
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