Tomales Bay Capital, L.P.
SEC-registered
Private Fund Manager · Mid-sized ($1B–$10B)
CRD 298932
· SEC file 801-117472
·
· www.tomalesbaycapital.com
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ADV data as of Mar 31, 2026
- Regulatory AUM
- $5.1B
- Discretionary
- $5.1B
- Clients
- 43
- Avg AUM / client
- $119M
- Accounts
- 43
- Employees
- 3
AUM over time
$136M
$5.1B
Sep 2019
Dec 2025
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 43 | $5.1B | 100.0% |
Private funds (39)
View all →Reported in Form ADV Section 7.B.(1), filing of Nov 2024 · $2.6B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Isk Dragon Investments, Llc | Private Equity Fund | Delaware | $423M | 2 |
| Tbc Dragon Investments, Llc | Private Equity Fund | Delaware | $300M | 11 |
| Tomales Bay Capital Anduril Ii, L.P. | Private Equity Fund | Delaware | $295M | 38 |
| Tomales Bay Capital Anduril Iii, L.P. | Private Equity Fund | Delaware | $232M | 16 |
| Tbc Castle Global, Llc | Venture Capital Fund | Delaware | $225M | 27 |
| Tomales Bay Capital Global Growth Fund I, L.P. | Private Equity Fund | Delaware | $112M | 22 |
| Tbc Ellipsis Opportunities, Llc Series 5 feeder | Private Equity Fund | Delaware | $101M | 53 |
| Tbc Ellipsis Opportunities, Llc Series 6 feeder | Private Equity Fund | Delaware | $92.9M | 3 |
| Tbc Dragon Investments Iii, Llc | Private Equity Fund | Delaware | $75.7M | 25 |
| Tbc Dragon Investments Ii, Llc | Private Equity Fund | Delaware | $74.5M | 27 |
| Tbc Dragon Investments V, Llc | Private Equity Fund | Delaware | $61.3M | 7 |
| Isk Cricket Investments, Llc | Venture Capital Fund | Delaware | $47.9M | 4 |
| Tomales Bay Capital Ggf Zhr I, L.P. | Private Equity Fund | Delaware | $47.8M | 4 |
| Tbc Ellipsis Opportunities, Llc Series 4 feeder | Private Equity Fund | Delaware | $40.1M | 2 |
| Tomales Bay Capital Anduril I, L.P. | Private Equity Fund | Delaware | $37.2M | 34 |
People (3)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Kahlon, Iqbaljit, Singh | Managing Partner And Chief Compliance Officer | Nov 2015 (11y) | ≈ 7.5% – 25% via Anduril Capital, Llc | |
| Kahlon, Manvir, Kaur | Trustee | Sep 2019 (7y) | GP / trustee / elected manager of Crestview Investment Trust (indirect) | |
| Cibuzar, Gina, Louise | Chief Financial Officer | Aug 2023 (3y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Crestview Investment Trust | Member | Apr 2021 | A | 75% or more |
| Anduril Capital, Llc | General Partner | Apr 2021 | A | 10% – 25% |
Undisclosed: 0% – 15% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Kahlon, Iqbaljit, Singh: 75% – 100% of Anduril Capital, Llc × 10% – 25% direct ≈ 7.5% – 25% 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 (39, $2.6B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Isk Dragon Investments, Llc | Private Equity Fund | $423M | $24.0K | 2 |
| Tbc Dragon Investments, Llc | Private Equity Fund | $300M | $50.0K | 11 |
| Tomales Bay Capital Anduril Ii, L.P. | Private Equity Fund | $295M | $50.0K | 38 |
| Tomales Bay Capital Anduril Iii, L.P. | Private Equity Fund | $232M | $500K | 16 |
| Tbc Castle Global, Llc | Venture Capital Fund | $225M | $10.0K | 27 |
| Tomales Bay Capital Global Growth Fund I, L.P. | Private Equity Fund | $112M | $250K | 22 |
| Tbc Ellipsis Opportunities, Llc Series 5 | Private Equity Fund | $101M | $50.0K | 53 |
| Tbc Ellipsis Opportunities, Llc Series 6 | Private Equity Fund | $92.9M | $0 | 3 |
| Tbc Dragon Investments Iii, Llc | Private Equity Fund | $75.7M | $40.0K | 25 |
| Tbc Dragon Investments Ii, Llc | Private Equity Fund | $74.5M | $25.0K | 27 |
| Tbc Dragon Investments V, Llc | Private Equity Fund | $61.3M | $0 | 7 |
| Isk Cricket Investments, Llc | Venture Capital Fund | $47.9M | $250K | 4 |
| Tomales Bay Capital Ggf Zhr I, L.P. | Private Equity Fund | $47.8M | $0 | 4 |
| Tbc Ellipsis Opportunities, Llc Series 4 | Private Equity Fund | $40.1M | $0 | 2 |
| Tomales Bay Capital Anduril I, L.P. | Private Equity Fund | $37.2M | $500K | 34 |
| Tomales Bay Capital Bluebird Alpha I, L.P. | Private Equity Fund | $35.2M | $0 | 7 |
| Tbc Castle Global Ii, Llc | Venture Capital Fund | $33.5M | $50.0K | 12 |
| Tbc Ellipsis Opportunities, Llc Sx Ii | Private Equity Fund | $32.2M | $0 | 3 |
| Tbc Dragon Investments Xi, L.P. | Private Equity Fund | $31.7M | $0 | 2 |
| Tbc Dragon Investments Iv, Llc | Private Equity Fund | $30.2M | $50.0K | 17 |
| Tbc Bracket Dragon Investments I, Llc | Private Equity Fund | $30.1M | $0 | 2 |
| Tbc Dragon Investments Viii, L.P. | Private Equity Fund | $28.1M | $0 | 2 |
| Tomales Bay Capital Ggf Zhr Iv, L.P. | Private Equity Fund | $23.3M | $0 | 3 |
| Tomales Bay Capital Anduril Ii Annex, L.P. | Private Equity Fund | $22.1M | $0 | 4 |
| Tomales Bay Capital Ggf Zhr Vii, L.P. | Private Equity Fund | $22.1M | $0 | 3 |
Top 25 of 39 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 10.7 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 it does not have 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: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗