PineGrove Venture Partners, LLC

Pinegrove Venture Partners is an SEC‑registered investment adviser that provides discretionary asset management exclusively to private pooled investment vehicles, including fund‑of‑funds, co‑investment vehicles, credit funds and single‑investor vehicles. As of its most recent filing it manages roughly $13.7 billion in regulatory assets on behalf of those Funds and does not provide investment advice directly to individual limited partners.

The firm’s advisory work focuses on sourcing, due diligence, transaction structuring, active monitoring and dispositions across its Strategic (fund‑of‑funds and co‑investment), Credit (direct lending and structured credit) and Secondaries strategies (via an affiliated registered adviser). Pinegrove describes a data‑led underwriting approach for credit investments, seeks diversification within its fund‑of‑fund allocations, and maintains written allocation policies and procedures to manage overlapping opportunities, side‑letter arrangements and related conflicts of interest.

Pinegrove departs from many peers in several respects: it operates from a multi‑office footprint (the ADV lists 12 offices), it and its general partners have claimed CFTC‑related exemptions (including relying on an exemption from registration as a commodity trading advisor and a notice of exemption for commodity pools), and its filings disclose material changes and regulatory matters tied to its predecessor operations and legacy funds (including a name change from SVB Capital Management after a change in control and a prior state regulatory matter involving a legacy credit fund). These features — along with the firm’s continued affiliation with large sponsors that acquired the parent company — are highlighted in its ADV as potential sources of conflicts and governance considerations.