Xplorer Capital
Xplorer Capital last closed a fund in May 2024 — 30 months ago. By its own rhythm, that is inside the window where it usually raises again.
Xplorer Capital has raised 3 times about every 39 months. The last was Xplorer Capital Fund V, L.P. That points to Aug 2027 — it is inside its window now.
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: June 2025. 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
- 5
- Capital raised
- $158M
- Latest close
- May 2024
- Based in
- CA
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| Xplorer Capital Fund V, L.P. | May 2024 | $42M | 0001970397 ↗ |
| Xplorer Capital continuation Fund I, LLC | December 2023 | $3M | 0002006021 ↗ |
| Xplorer Capital Growth I, LLC | December 2021 | $256,500 | 0001898876 ↗ |
| Xplorer Capital Fund IV, L.P. | April 2020 | $103M | 0001809476 ↗ |
| Xplorer Capital Fund III, L.P. | October 2017 | $11M | 0001709614 ↗ |
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
Keith Nilsson, Jonathan McQueen
What Xplorer Capital invests in
- Typical fund
- $11M median, pre-seed / seed scale
- Website
- xplorer.vc
Service providers
- Fund administrator
- Carta (5 funds)
- Auditor
- RSM (3 funds)
From Form ADV filed by XPLORER CAPITAL MANAGEMENT, LLC CRD 293460 ↗, latest filing July 2026, covering 5 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.