The Firm
What Andra Capital is, how its funds are structured, and how the marketing numbers compare with its regulatory filings.
Andra Capital is a growth- and late-stage technology fund founded in 2016 and headquartered at 750 Battery Street, San Francisco. It targets pre-IPO companies in AI, data, cloud, cybersecurity and fintech, and pitches a shorter exit horizon than traditional venture capital.
Basics
Founded
2016, San FranciscoCrunchbase / PitchBook; address confirmed by SEC Form ADV.
Regulatory status
SEC-registered investment adviser (801-135574, CRD 314080), activeSEC IAPD record; one office, no disclosures on file.
Strategy
Growth/late-stage pre-IPO tech; AI, data, cloud, cybersecurity, fintech, digital healthConsistent across the firm's site and PitchBook.
Fund structure & size
Two funds
Growth-Stage (closed-end, 5–8yr) + Late-Stage (open-end evergreen, 2–3yr); Reg D 506(c)The firm's current site copy; SEC filings show one Cayman LP (Andra Capital Fund LP).
Capital raised
$350M sold to ~260 investors (Form D/A, May 2026); minimum $250KPrimary SEC filing; offering amount is 'Indefinite' — an evergreen trait.
AUM
$476.5M gross asset value; ~90% attributable to non-US personsForm ADV filed 2026-02-13. AUM exceeds the amount raised because it includes unrealized gains.
“Collected over $500M” (2018)
Media headline at the SVC launchNo filing supports it: the 2018 token entity reported $1.3M sold; the main LP reached $350M only by 2026.
“100+ transactions, $100B+ value”
Site marketing copyRefers to portfolio companies' aggregate valuations, not the fund's own size; no independent tally.
Investment criteria (as stated by partners)
Selection
IRR-first; only top-2 companies per sector; Tier-1 VC backing since Series AConsistent across Jonathan Lin's Taiwan interviews and Kathy Park's US interview ('Top 3, Tier 1 VCs').
Financial bar
50%+ growth, 70%+ gross margin, 85%+ retention, falling CAC, Fortune-500 customersPartner interview statements; not independently verifiable.
Investor base
Asia, Middle East, US, Canada; individual LPs not disclosedPartner interview; the ~90% non-US AUM in Form ADV is consistent with it.