Relay Investments
Relay Investments last closed a fund in July 2021 — 64 months ago. By its own rhythm, that is already past its usual gap.
Relay Investments has raised 3 times about every 44 months. The last was Relay Investments III, L.P. That pointed to Mar 2025. It is 20 months past its own gap and has not filed a new fund.
Historically about 1 in 4 firms in this position filed within a year. The month is approximate — how often this is right.
No recent fund This firm has filed no new fund in over five years, so it either stopped raising or raises in a way Form D never sees.
Still filing with the SEC: October 2022. That is an amendment to an existing offering, not a new fund - which is what an evergreen structure looks like in this data.
- Funds on file
- 3
- Capital raised
- $123M
- Latest close
- July 2021
- Based in
- MA
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| Relay Investments III, L.P. | July 2021 | $98M | 0001871156 ↗ |
| Relay Investments II, LP | February 2017 | $14M | 0001698273 ↗ |
| Relay Investments I, LP | March 2014 | $10M | 0001599931 ↗ |
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
Alessandro Mina, Martin Steber
What Relay Investments invests in
- Typical fund
- $14M median, pre-seed / seed scale
- Says it invests in
- space/defense
- Cheque size, in its words
- $
- Website
- relayinvestments.com
Sector and stage are quoted from the firm’s own website, not inferred, and dated.
Service providers
- Fund administrator
- HC Global (1 fund); no administrator reported for 1 fund
- Auditor
- Mayer Hoffman (2 funds)
From Form ADV filed by RELAY INVESTMENTS MANAGEMENT, LLC CRD 170538 ↗, latest filing March 2025, covering 2 funds linked to this firm by Form D file number. Form ADV is filed once a year, so a provider may have changed since — and this adviser has not filed since then in our data. 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.