vcspine

PROOF

PROOF last closed a fund in September 2025 — 14 months ago.

Next fund
Jul 2027
not due yet
last close~25 mo50 mo

PROOF has raised 5 times about every 25 months. The last was PROOF Fund IV, LP. 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.

Filed a single-deal vehicle on Wednesday 4 November 2026 — PROOF ZLI, LLC, $875,500. 021-603586 ↗ This is newer than the record below, which is rebuilt quarterly. See the feed.

Deploying  This firm closed a fund in the last 18 months, so it has money to put to work now as of the last quarterly rebuild.

Funds on file
48
Single-deal SPVs
10
Capital raised
$407M
Latest close
September 2025
Based in
DE, VA

Vehicles on file

VehicleFirst closeAmount Filings
PROOF IV CDI LLCSeptember 2025$1M0002087998 ↗
PROOF SIDE IV, LPJune 2025$637,7550002061596 ↗
PROOF Fund IV, LPJune 2025$27M0002061594 ↗
PROOF III TBOI LLCMay 2025$662,1900002066826 ↗
PROOF II RLH LLCJuly 2024$1M0002031218 ↗
PROOF III ADGT LLCDecember 2023$676,2540002006525 ↗
PROOF III PDI LLCNovember 2023$2M0002001109 ↗
PROOF DPI3, LLCOctober 2023$2M0001997677 ↗
PROOF DPI2, LLCSeptember 2023$6M0001993396 ↗
PROOF III RMDI, LLCJuly 2023$1M0001987220 ↗
PROOF II VI, LLCJuly 2023$7M0001984277 ↗
PROOF ZLI, LLCApril 2023$3M0001975210 ↗
PROOF III CBSI LLCMarch 2023$2M0001966338 ↗
PROOF III SHI LLCFebruary 2023$446,2500001966513 ↗
PROOF III UMTI LLCJanuary 2023$1M0001963220 ↗
PROOF III VDM LLCAugust 2022$4M0001943763 ↗
PROOF III FMI LLCAugust 2022$3M0001941757 ↗
PROOF II OTS2, LLCJuly 2022$2M0001939507 ↗
PROOF III ACI LLCJuly 2022$669,7540001939508 ↗
PROOF III C8AI LLCMarch 2022$4M0001919908 ↗
PROOF III HTL, LLCFebruary 2022$5M0001914569 ↗
PROOF Side III, LPDecember 2021$12M0001891600 ↗
PROOF Fund III, LPNovember 2021$124M0001891599 ↗
PROOF II SSI, LLCNovember 2021$4M0001894743 ↗
PROOF II PEI, LLCNovember 2021$1M0001891597 ↗
PROOF II LI, LLCAugust 2021$957,0980001880267 ↗
PROOF II Oakhouse IBQP, LLCJuly 2021$2M0001871787 ↗
PROOF II Oakhouse IB, LLCJuly 2021$707,2350001871795 ↗
PROOF II Javelin MGI, LLCMay 2021$565,9500001863932 ↗
PROOF DPQPI, LLCApril 2021$16M0001858570 ↗
PROOF II MC, LLCApril 2021$5M0001858569 ↗
PROOF JP, LLCNovember 2020$1M0001833351 ↗
PROOF II Javelin CH, LLCNovember 2020$1M0001832713 ↗
PROOF II OTS, LLCJuly 2020$7M0001819421 ↗
PROOF R2, LLCMay 2020$231,0000001813088 ↗
PROOF Skillz II, LLCApril 2020$2M0001809369 ↗
PROOF II DT C1, LLCMarch 2020$2M0001806644 ↗
PROOF II VM, LLCMarch 2020$8M0001806671 ↗
PROOF II CVC, LLCFebruary 2020$746,9840001803093 ↗
PROOF II CVC C1, LLCFebruary 2020$2M0001805357 ↗
PROOF R1, LLCJuly 2019$6M0001783274 ↗
PROOF Side II LPJune 2019$10M0001779350 ↗
PROOF Fund II, LPMay 2019$110M0001777614 ↗
PROOF AP, LLCJuly 2018$521,4020001744281 ↗
PROOF AVC2, LLCMay 2018$643,7500001741488 ↗
PROOF Side, L.P.August 2016$1M0001672264 ↗
PROOF Network, L.P.August 2016$941,6840001672263 ↗
PROOF Fund, L.P.August 2016$13M0001635017 ↗
PROOF Sweetgreen, LLC, a series of PROOF Master I, LLC (single-deal SPV)January 2019$2M0001761090 ↗
Oakhouse Partners P1, LLC, a series of PROOF Master I, LLC (single-deal SPV)December 2018$2M0001761091 ↗
PROOF Skillz, LLC, a series of PROOF Master I, LLC (single-deal SPV)December 2018$4M0001762048 ↗
BM2 P, LLC, a series of PROOF Master I, LLC (single-deal SPV)October 2018$11M0001754680 ↗
RV2 P, LLC, a Series of Proof Master I, LLC (single-deal SPV)July 2018$2M0001747533 ↗
FVC2 P, LLC, a series of PROOF Master I, LLC (single-deal SPV)June 2018$772,4990001743790 ↗
RV1 P, LLC, a Series of Proof Master I, LLC (single-deal SPV)May 2018$772,5000001741481 ↗
HP1 P, LLC, a Series of Proof Master I, LLC (single-deal SPV)May 2018$386,2500001741485 ↗
FCG1 P, LLC, a Series of PROOF Master I, LLC (single-deal SPV)January 2018$587,1000001725192 ↗
BM1 P, a Series of PROOF Master I, LLC (single-deal SPV)November 2017$978,5000001719807 ↗

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

Thanasis Delistathis, John Burke, John Backus, John Backus Jr., Jennifer Schretter, Jack Backus, Sahej Suri

What PROOF invests in

Typical fund
$2M median, pre-seed / seed scale
Median of this firm’s filed fund sizes on Form D.
Website
proof.vc
As filed by the adviser on Form ADV, March 2026.

Service providers

Fund administrator
Carta (8 funds)
Auditor
RSM (4 funds)

From Form ADV filed by PROOF MANAGEMENT, LLC CRD 285482 ↗, latest filing March 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.