Venture capital in Nevada
21 venture firms are based in Nevada, from SEC filings and the fund index. Below them are Nevada’s other sources of capital, the LPs based here that report holding venture funds, and its SEC-registered family offices. How Nevada ranks for startup raises and new funds: its Venture Ecosystem Index page.
On this page: 21 venture firms 3 new funds 12 other sources of capital 8 LPs.
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Venture firms based in Nevada
21 advisers that report a venture fund on Form ADV, largest estimated venture assets first, from the Venture Adviser Directory. Each one’s page has its funds and, where an LP reports holding them, its LPs.
| # | Adviser | Location | Venture funds | Private fund assets | Registered |
|---|---|---|---|---|---|
| 1 | Uncorrelated Advisors LLC | Las Vegas | 3 | $802M | 2024 |
| 2 | DTCP USA LLC | Las Vegas | 4 | $920M | 2025 |
| 3 | 11.2 Capital11.2 Capital Management, LLC | Las Vegas | 4 | $295M | 2021 |
| 4 | Flume Ventures Management, LLC Emerging | Incline Village | 2 | $230M | 2023 |
| 5 | Kingsbridge Investment Partners LLC | Las Vegas | 6 | $290M | 2025 |
| 6 | Treo Ventures, LLC Emerging | Reno | 2 | $195M | 2018 |
| 7 | Phobos, LLC Emerging | Las Vegas | 21 | $179M | 2026 |
| 8 | Pif Capital Management Ltd Emerging | Las Vegas | 6 | $154M | 2023 |
| 9 | Octave Ventures LLC Emerging | Henderson | 33 | $133M | 2021 |
| 10 | Pipeline Capital Partners I GP, LLC Emerging | Las Vegas | 12 | $132M | 2019 |
| 11 | Richmond Global Ventures EmergingRichmond Global Ventures LLC | Las Vegas | 6 | $116M | 2014 |
| 12 | 1confirmation1confirmation Global, LLC | Incline Village | 1 | $860M | 2021 |
| 13 | Bridgescale, LLC Emerging | Incline Village | 3 | $61M | 2012 |
| 14 | Growth Science Ventures EmergingGrowth Science Ventures LLC | Henderson | 2 | $55M | 2023 |
| 15 | Granite Partners EmergingGranite Partners, a Series of Western Frontier Master LLC | Reno | 12 | $53M | 2026 |
| 16 | Health2047 Capital Partners Management, LLC Emerging | Reno | 1 | $52M | 2018 |
| 17 | Sunshine Lake Capital EmergingSunshine Lake Management LLC | N Las Vegas | 2 | $45M | 2026 |
| 18 | Vosht LLC Emerging | Las Vegas | 1 | $21M | 2026 |
| 19 | Cannage Capital EmergingCannage Capital Management, LLC | Las Vegas | 1 | $20M | 2024 |
| 20 | Rosten Capital Investments LLC Emerging | Las Vegas | 1 | $5.3M | 2025 |
| 21 | Kilowatt Capital LLC | Incline Village | 1 | — | 2026 |
New funds raising from Nevada
3 venture funds managed from Nevada started raising in 2025 or later and filed a Form D since October 2025: managers with new money to invest. Amounts are as each fund’s latest Form D reports them, newest filing first.
| Fund | Manager | Started | Raised so far | Target | Latest filing |
|---|---|---|---|---|---|
| Sunshine Lake Fund I LP | Sunshine Lake Capital | 2025 | $34M | — | July 31, 2026 |
| Sunshine Lake AI Fund I LP | Sunshine Lake Capital | 2025 | $12M | — | July 31, 2026 |
| Flume Ventures Entrepreneurs Fund, L.P. | Flume Ventures Management, LLC | 2025 | $147M | $147M | June 17, 2026 |
Other sources of capital in Nevada
6 union pension plans, 2 community development lenders, 2 SBA lenders, 1 angel group, and 1 corporate pension plan. From public registers and what each organization publishes; see Capital Sources for every state.
| Source | Location | On the record |
|---|---|---|
| Sierra Angels | NV | Member group founded at North Lake Tahoe in 1997 that funds seed-stage, early-revenue technology companies, preferring capital-efficient enterprise and B2B startups. |
| Mission Support and Test Services LLC (MSTS) Employee Retirement Plan | Las Vegas | In partnerships and joint ventures: $106M |
| Construction Industry and Laborers Joint Pension Trust for So Nevada, Plan a | Las Vegas | In partnerships and joint ventures: $55M |
| Eighth District Electrical Pension Fund | Las Vegas | In partnerships and joint ventures: $84M |
| I.B.E.W. Local Union No 357 Pension Trust Fund, Plan a | Las Vegas | In partnerships and joint ventures: $111M |
| Nevada Resort Association IATSE Local 720 Retirement Plan | Las Vegas | In partnerships and joint ventures: $39M |
| Pension and Retirement Plan of Plumbers and Pipefitters Union Local 525 | Las Vegas | In partnerships and joint ventures: $107M |
| United Brotherhood of Carpenters Pension Fund United States Segment | Las Vegas | In partnerships and joint ventures: $332M |
| Access Community Capital | Las Vegas | Community development loan fund in Las Vegas, NV, certified by the US Treasury’s CDFI Fund. |
| Rural Nevada Development Corporation | Ely | Community development loan fund in Ely, NV, certified by the US Treasury’s CDFI Fund. |
| GBank | Las Vegas | 7(a) loans approved, fiscal year 2026: $559M |
| Lexicon Bank | Las Vegas | 7(a) loans approved, fiscal year 2026: $32M |
LPs based in Nevada
Foundations, pension plans, and other LPs here that report the venture funds they hold, by the number they hold. Local LPs often back local managers.
| # | LP | Location | Venture funds | In venture funds | Total assets |
|---|---|---|---|---|---|
| 1 | A Gary Anderson Family Foundation | Las Vegas | 12 | $6.4M | $41M |
| 2 | Anderson Community Partners | Las Vegas | 9 | $5.8M | $43M |
| 3 | Dave & Cheryl Duffield Foundation | Incline Village | 8 | $10M | $887M |
| 4 | Harbourton Foundation | Reno | 2 | $7.1M | $31M |
| 5 | Andre Agassi Foundation for Education | Las Vegas | 2 | $354K | $122M |
| 6 | Ward Creek Foundation | Las Vegas | 2 | $217K | $11M |
| 7 | Berger North Foundation | Minden | 1 | $1.1M | $22M |
| 8 | Stephen & Pamela Thorne Foundation Trust | Henderson | 1 | $810K | $29M |
About the data
An adviser’s state is where its Form ADV says its main office is. A fund-index firm is placed by the headquarters city the index lists, or by its Form ADV when the city doesn’t tell. Capital sources, LPs, and family offices are placed by the address their own register gives. Angel investors who list themselves are at hottub.vc/investors. Organizations only: no individuals are listed here, and a listing is a public record, not a recommendation. See the methodology.