Section 32, LLC

Palo Alto, CA WWW.S32.COM Exempt reporting adviser

Section 32, LLC reports 6 venture funds on Form ADV among 6 private funds, with $2.5B in gross private fund assets.

Find LPs that back firms like this Claim this page

Venture funds6of 6 private funds

Private fund assets$2.5BGross, Form ADV, September 2026

Funds on Form D5$831M reported raised

LPs on the record11Foundations and public plans

Reported raised, by the year each fund began raising

The numbers

Began raising	Raised
2017	$151M
2018	$199M
2022	$481M

Funds on Form D

Venture funds whose Form D filings carry this adviser’s name, matched by name. Amounts are what each fund last reported to the SEC.

Fund	Began raising	Target	Raised	Investors	Latest filing
Section 32 Fund 5, LP	2022	$500M	$481M	135	July 13, 2023
Section 32 Fund 4, LP	2021	$700M	—	—	July 29, 2021
Section 32 Fund 3, LP	2020	$350M	—	—	April 14, 2020
Section 32 Fund 2, LP	2018	$300M	$199M	48	February 22, 2019
Section 32 Fund 1, LP	2017	$151M	$151M	32	May 23, 2017

LPs on the record

11 private foundations list on their latest IRS Form 990-PF Section 32, LLC’s funds.

Hillman Family Foundations Private foundation · 3 funds
The Vibrant Village Foundation Private foundation · 3 funds
Big Win Philanthropy Inc Private foundation · 3 funds

8 more LPs are in the app. Find LPs that back firms like this one in Hottub’s LP Intelligence: ranked by overlap, with what each holds and how to reach it.

Firms whose LPs overlap

The firms sharing the most LPs on record with Section 32, LLC, relative to how many LPs each has. A peer set like this is what Find LPs ranks LPs from.

KDT Ventures 2 LPs in common
Link Ventures Management, LLC 2 LPs in common
E14 Management, LLC 2 LPs in common
Thrive Capital 3 LPs in common
Qiming Venture Partners 2 LPs in common
Tiger Global Management 4 LPs in common

Find LPs for Section 32, LLC and these firms: Hottub ranks the LPs that hold their funds, the ones still adding funds first.

Registration

Legal name: Section 32, LLC
Status: Exempt reporting adviser since June 29, 2017
CRD number: 288739

Full Form ADV on the SEC’s Investment Adviser Public Disclosure site

About this data

Registered and exempt reporting advisers that report managing at least one venture capital fund on Form ADV, with the number of private funds and their gross assets as each adviser reports them. Advisers whose business name reads as an individual's are left out. From the roster published for September 2026. Source. Benchmarks for funds like these are in Raise benchmarks.