Investment adviser · CRD 339785

NEXT CYCLE MANAGEMENT LLC

Exempt reporting adviser (ERA)

Exempt reporting advisers use a shorter Form ADV report. Some adviser-level figures are not reported; fund disclosures appear below when available.

· Form ADV filed May 5, 2026

Adviser-level assets, account counts and staffing figures are unavailable in this filing. View the reported fund disclosures below →

Private funds & service providers

3 Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

NEXT CIRCULAR TECHNOLOGIES FUND LPVenture Capital Fund · Last reported May 5, 2026$54.4MGross asset value

Feeder funds

  • FC CLIMATE PARTNERS SPV, LP
Fund administrator PIEDMONT FUND SERVICES INC. HERNDON, Virginia, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor FRANK RIMERMAN + CO SAN FRANCISCO, California, United States
Custodian JP MORGAN CHASE BANK, N.A. NEW YORK, New York, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

FRANK RIMERMAN + CO
PCAOB 1596

Fund details & source
Fund ID
805-7441871162
Reported beneficial owners
21
Minimum commitment
$1M

Form ADV 2102863 · May 5, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

NEXT CIRCULAR TECHNOLOGIES NQP FUND LPVenture Capital Fund · Last reported May 5, 2026$7.36MGross asset value

Feeder funds

  • FC CLIMATE PARTNERS SPV NQP, LP
Fund administrator PIEDMONT FUND SERVICES INC. HERNDON, Virginia, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor FRANK RIMERMAN + CO SAN FRANCISCO, California, United States
Custodian JP MORGAN CHASE BANK, N.A. NEW YORK, New York, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

FRANK RIMERMAN + CO
PCAOB 1596

Fund details & source
Fund ID
805-6532947654
Reported beneficial owners
12
Minimum commitment
$100K

Form ADV 2102863 · May 5, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

NEXT CIRCULAR TECHNOLOGIES-C FUND LPVenture Capital Fund · Last reported May 5, 2026$6MGross asset value
Fund administrator PIEDMONT FUND SERVICES INC. HERNDON, Virginia, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor FRANK RIMERMAN + CO SAN FRANCISCO, California, United States
Custodian JP MORGAN CHASE BANK, N.A. NEW YORK, New York, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

FRANK RIMERMAN + CO
PCAOB 1596

Fund details & source
Fund ID
805-5797232962
Reported beneficial owners
4
Minimum commitment
$1M

Form ADV 2102863 · May 5, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: May 5, 2026. View historical filings

Reported services

Not reported in these imported fields

Compensation

Not reported in these imported fields

Principal office

CRD 339785

Filing source

Form ADV 2102863 · May 5, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.