Observed arrival · 2026-09-08
VC Spine: a filing-based map of who is still investing
VC Spine uses SEC Form D filings to estimate when US venture firms last closed funds and whether they are likely to be writing checks.
Field notes
The classification is derived from SEC Form D records and separates deploying, mid-cycle, late-cycle, no recent fund, and unknown firms. The homepage reports 52,999 filings across 11,473 firms and excludes SPVs, feeder vehicles, and certain GP or employee funds from totals. Its methodology notes that dates reflect first sale rather than final close, while filings marked “Indefinite” are omitted from totals; the operator also cautions that many venture rounds have no filing obligation.
Observed signals
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Editorial observations of this landing page, not a rating.
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