Base Case Capital
Base Case Capital last closed a fund in August 2025 — 15 months ago. By its own rhythm, that is past halfway to the next one.
Base Case Capital has raised 3 times about every 23 months. The last was Base Case Capital III L.P. That points to Jul 2027.
Historically about 1 in 8 firms this early in their cycle filed within a year. The month is approximate — how often this is right.
This firm closed a fund in the last 18 months, so it has money to put to work now.
- Funds on file
- 4
- Single-deal SPVs
- 5
- Capital raised
- $192M
- Latest close
- August 2025
- Based in
- CA, WA
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| Base Case Capital III L.P. | August 2025 | $100M | 0002081013 ↗ |
| Base Case Capital II L.P. | October 2023 | $50M | 0001997264 ↗ |
| Base Case Capital Venture Fund I, L.P. | July 2022 | $21M | 0001924034 ↗ |
| Base Case Capital I L.P. | October 2021 | $20M | 0001888380 ↗ |
| MA-0717 Fund I, a series of Base Case Capital Venture Funds, LP | August 2025 | $1M | 0002082235 ↗ |
| BR-0409 Fund I, a series of Base Case Capital Venture Funds, LP | May 2025 | $510,000 | 0002068337 ↗ |
| SU Fund I, a series of Base Case Capital Venture Funds, LP | April 2022 | $2M | 0001921893 ↗ |
| CE Fund I, a series of Base Case Capital Venture Funds, LP | February 2022 | $758,000 | 0001910724 ↗ |
| AS Fund I, a series of Base Case Capital Venture Funds, LP | February 2022 | $1M | 0001911709 ↗ |
Dated from filing date; no date of first sale was reported.
Each row links to that vehicle’s Form D filings on EDGAR — the name, date and amount above should match what is filed there.
Named on filings
Alana Anderson, Alana Goyal
What Base Case Capital invests in
- Typical fund
- $50M median, seed to early stage
- Website
- basecase.vc
Service providers
- Fund administrator
- AngelList (Belltower) (5 funds), Navigation Fund Services (3 funds)
- Auditor
- Frank Rimerman (1 fund)
From Form ADV filed by PLATFORM ADVISOR, LLC CRD 167700 ↗, latest filing June 2026, covering 8 funds linked to this firm by Form D file number. Form ADV is filed once a year, so a provider may have changed since. How this is matched.
What this is. Every figure on this page comes from Form D filings with the U.S. Securities and Exchange Commission — public records, reproduced here as filed. Service providers, where shown, come from the adviser’s Form ADV and are dated.
What it is not. Single-deal SPVs, feeder vehicles and GP or employee commitment funds are listed but excluded from fund counts and capital totals: an SPV is one investment, a feeder holds the same capital as its master, and a “Principals” or “Entrepreneurs” fund closes alongside a main fund rather than being raised in its own right. Capital deployed from a family office, a corporate balance sheet or an evergreen structure never arrives as a fund close, so a firm doing that looks quiet here. Amounts are as of the last amendment and go stale. Dates are the date of first sale — a fund's first close, not its final one. Funds filed as “Indefinite” are excluded from totals rather than counted as zero, so a total is a floor.
“No recent fund” is a statement about filings. It is not a statement about whether a firm is solvent, investing, or still in business.