ShangBay Capital
ShangBay Capital last closed a fund in December 2021 — 59 months ago. By its own rhythm, that is already past its usual gap.
ShangBay Capital has raised 3 times about every 34 months. The last was ShangBay Capital Opportunity, LLC. That pointed to Oct 2024. It is 25 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.
Late-cycle This firm is deep enough into its last fund that a new one would not be a surprise.
- Funds on file
- 4
- Capital raised
- $113M
- Latest close
- December 2021
- Based in
- CA
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| ShangBay Capital Opportunity, LLC | December 2021 | $25M | 0001894054 ↗ |
| ShangBay Capital III, LLC | April 2021 | $48M | 0001846873 ↗ |
| Shangbay Capital II, LLC | January 2019 | $35M | 0001759986 ↗ |
| ShangBay Capital, LLC | July 2015 | $5M | 0001650380 ↗ |
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
William Dai
What ShangBay Capital invests in
- Typical fund
- $35M median, seed to early stage
- Says it invests in
- health/bio
- Website
- shangbaycapital.com
Sector and stage are quoted from the firm’s own website, not inferred, and dated.
Service providers
- Fund administrator
- Laskey Costello (4 funds)
- Auditor
- CHEK TAN & (3 funds)
From Form ADV filed by SHANGBAY CAPITAL MANAGEMENT COMPANY, LLC CRD 312767 ↗, latest filing May 2026, covering 4 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.