WAVE
WAVE last closed a fund in February 2025 — 21 months ago.
WAVE has raised 5 times about every 20 months. The last was WAVE Opportunity Fund I LP. That pointed to May 2026. It is 6 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.
Mid-cycle This firm is far enough into its last fund to be investing, and too early to be raising again.
Still filing with the SEC: September 2026. 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
- 15
- Single-deal SPVs
- 1
- Capital raised
- $612M+
- Latest close
- February 2025
- Based in
- CA, MA, TX, WA
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| WAVE Technology Impact Fund, LP | February 2025 | $2M | 0002049599 ↗ |
| WAVE Opportunity Fund I LP | September 2024 | $17M | 0001929098 ↗ |
| WAVE Venture Producers Fund, LP | May 2024 | $6M | 0002024527 ↗ |
| WAVE Equity Warehouse II LLC | May 2023 | $10M | 0001975179 ↗ |
| WAVE Venture Fund, L.P. | March 2023 | $21M | 0001969626 ↗ |
| WAVE Equity Fund III LP | January 2023 | $42M | 0001929099 ↗ |
| WAVE Equity Warehouse LLC | July 2022 | not stated | 0001919224 ↗ |
| WAVE Capital 6P CD Fund, LP | February 2022 | $1M | 0001914458 ↗ |
| Wave II, L.P. | October 2021 | $54M | 0001887893 ↗ |
| WAVE Capital Fund I, LP | January 2020 | $3M | 0001799440 ↗ |
| WAVE Equity Fund II (NQP), L.P. | August 2019 | $135M | 0001838084 ↗ |
| WAVE Equity Fund II, L.P. | April 2018 | $135M | 0001735648 ↗ |
| Wave I, L.P. | January 2018 | $32M | 0001730562 ↗ |
| Wave Warehouse Fund, L.P. | February 2012 | $3M | 0001544327 ↗ |
| WAVE Equity Fund LP | — | $150M | 0001567168 ↗ |
| BO Fund I, a series of Wave Capital, LP | January 2022 | $385,000 | 0001909497 ↗ |
1 of these filed no amount (an “Indefinite” offering), so the total above is a floor.
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
Mark Robinson, Praveen Sahay, U. Crocker, Allen Page, Brian Woods, Robert Roeper, Riley Newman, Sara Adler
What WAVE invests in
- Typical fund
- $21M median, pre-seed / seed scale
- Website
- waveventures.com
Service providers
- Fund administrator
- Aduro (4 funds), Standish (2 funds), AngelList (Belltower) (1 fund); no administrator reported for 8 funds
- Auditor
- WOLF & (7 funds), Frank Rimerman (2 funds), J A Green Accounting Services (1 fund)
From Form ADV filed by WAVE EQUITY PARTNERS LLC CRD 170642 ↗, latest filing June 2026, covering 15 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.