First Analysis Capital Management Llc
- Regulatory AUM
- $186M
- Discretionary
- $186M
- Clients
- 8
- Avg AUM / client
- $23.3M
- Accounts
- 8
- Employees
- 25
AUM over time
Reported AUM from Form ADV filings, plotted by filing date · as of May 10, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 8 | $186M | 100.0% |
Private funds (12)
Reported in Form ADV Section 7.B.(1), filing of May 2024 · $199M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| First Analysis Fund Xii+, L.P. | Venture Capital Fund | Delaware | $82.1M | 63 |
| First Analysis Private Equity Fund V A, L.P. | Private Equity Fund | Delaware | $67.5M | 22 |
| First Analysis Private Equity Fund V, L.P. | Private Equity Fund | Delaware | $21.4M | 6 |
| Fa Private Equity Fund Iv, L.P. | Private Equity Fund | Delaware | $10.0M | 25 |
| First Analysis Fund Xii+ (Cayman), L.P. | Venture Capital Fund | Cayman Islands | $7.8M | 2 |
| First Analysis Private Equity Fund V C, L.P. | Private Equity Fund | Cayman Islands | $6.0M | 2 |
| First Analysis Fund Xiv A, L.P. | Venture Capital Fund | Delaware | $2.8M | 43 |
| First Analysis Fund Xiv, L.P. | Venture Capital Fund | Delaware | $874K | 10 |
| First Analysis Fund Xiv (Cayman), L.P. | Venture Capital Fund | Cayman Islands | $567K | 2 |
| Fa Private Equity Fund Iv Gmbh & Co. Beteiligungs Kg | Private Equity Fund | Delaware | $444K | 2 |
| The Productivity Fund Iv Advisors Fund, L.P. | Private Equity Fund | Delaware | $7.7K | 36 |
| The Productivity Fund Iv, L.P. | Private Equity Fund | Delaware | $3.5K | 48 |
People (2)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Nicklin, Francis, Oliver | Chairman | Feb 1999 (28y) | ≈ 18.75% – 50% via First Analysis Venture Operations And Research, L.L.C. | |
| Leshuk, David, John | Chief Compliance Officer | Nov 2021 (5y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| First Analysis Venture Operations And Research, L.L.C. | Manager | Aug 2023 | A | 75% or more |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Nicklin, Francis, Oliver: 25% – 50% of First Analysis Venture Operations And Research, L.L.C. × 75% – 100% direct ≈ 18.75% – 50% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (12, $199M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| First Analysis Fund Xii+, L.P. | Venture Capital Fund | $82.1M | $3.0M | 63 |
| First Analysis Private Equity Fund V A, L.P. | Private Equity Fund | $67.5M | $1.0M | 22 |
| First Analysis Private Equity Fund V, L.P. | Private Equity Fund | $21.4M | $1.0M | 6 |
| Fa Private Equity Fund Iv, L.P. | Private Equity Fund | $10.0M | $1.0M | 25 |
| First Analysis Fund Xii+ (Cayman), L.P. | Venture Capital Fund | $7.8M | $3.0M | 2 |
| First Analysis Private Equity Fund V C, L.P. | Private Equity Fund | $6.0M | $1.0M | 2 |
| First Analysis Fund Xiv A, L.P. | Venture Capital Fund | $2.8M | $3.0M | 43 |
| First Analysis Fund Xiv, L.P. | Venture Capital Fund | $874K | $3.0M | 10 |
| First Analysis Fund Xiv (Cayman), L.P. | Venture Capital Fund | $567K | $3.0M | 2 |
| Fa Private Equity Fund Iv Gmbh & Co. Beteiligungs Kg | Private Equity Fund | $444K | $3.0M | 2 |
| The Productivity Fund Iv Advisors Fund, L.P. | Private Equity Fund | $7.7K | $100K | 36 |
| The Productivity Fund Iv, L.P. | Private Equity Fund | $3.5K | $3.0M | 48 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 05/10/2026 | 2.52 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports having custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: May 10, 2026.
View current Form ADV (SEC/IAPD) ↗