AdvisorCensus / Financial advisors / California / San Francisco / Novawave Capital
Novawave Capital is an SEC-registered investment advisory firm in Menlo Park, CA, registered since 2025, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated April 1, 2026.
Quick answers
From the filingHow is Novawave Capital compensated?
On its Form ADV (Item 5.E, October 2026), Novawave Capital reports these compensation arrangements: a percentage of assets under its management; performance-based fees.
Where is Novawave Capital located?
Novawave Capital's principal office is in Menlo Park, CA, according to its Form ADV; the May 2026 filing also lists 1 other office (Schedule D, Section 1.F).
Is Novawave Capital registered with the SEC or a state?
Novawave Capital is an SEC-registered investment advisory firm, registered since 2025. Status as filed: Approved. CRD 333205.
How much does Novawave Capital manage?
Novawave Capital reports $90,000,000 in regulatory assets under management in its Form ADV filing dated April 1, 2026 (89% discretionary).
How have Novawave Capital's assets and staff changed since 2025?
In the Form ADV data for Novawave Capital: Regulatory assets under management: $90,000,000 in the October 2025 data and $90,000,000 in the October 2026 data, unchanged. Total employees: 6 in October 2025 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Novawave Capital serve?
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (1).
Does Novawave Capital report any disciplinary disclosures?
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/333205
Does Novawave Capital state an account minimum?
Its Form ADV Part 2A brochure dated April 1, 2026 says: "Subject to the discretion of NovaWave Capital to accept less, the minimum investment threshold is $ 5 million."
What changed in Novawave Capital's recent Form ADV filings?
In the May 2026 filing data: Employees performing advisory functions went from 5 to 3. Updated its list of owners and control persons (Schedule A).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Performance-based fees
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAccount minimum: $5,000,000 (the brochure says it may be waived or negotiated)
The brochure's wording
Subject to the discretion of NovaWave Capital to accept less, the minimum investment threshold is $ 5 million.
As stated in the firm's Form ADV Part 2A brochure dated April 1, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$90,000,000 as of October 2026, filing dated April 1, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
Registration and firm details
Items 1, 2, 5- Legal name
- Novawave Capital LLC
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2025 (1 year)
- Employees
- Total: 4. Performing investment advisory functions: 3.
- Wrap fee program participation
- No.
- Other offices (Schedule D, Section 1.F)
-
1 other office, as of the May 2026 filing
- States registered or notice-filed
-
2 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $90,000,000 | 4 | April 1, 2026 |
| October 2025 | $90,000,000 | 6 | May 20, 2025 |
Regulatory assets under management: $90,000,000 in the October 2025 data and $90,000,000 in the October 2026 data, unchanged.
Total employees: 6 in October 2025 and 4 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- May 2026
- Employees performing advisory functions went from 5 to 3.
- Updated its list of owners and control persons (Schedule A).
- January 2026
- Updated its list of owners and control persons (Schedule A).
- December 2025
- Employees performing advisory functions went from 6 to 5.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Novawave Capital (CRD 333205): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/novawave-capital-menlo-park-ca-333205