AdvisorCensus / Financial advisors / California / San Francisco / Pantheon
Pantheon is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2010, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 14, 2026.
Quick answers
From the filingHow is Pantheon compensated?
On its Form ADV (Item 5.E, October 2026), Pantheon reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.
What does Pantheon's brochure say about its fees?
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 0.25% to 1.5% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is Pantheon located?
Pantheon's principal office is in San Francisco, CA, according to its Form ADV; the August 2026 filing also lists 3 other offices (Schedule D, Section 1.F).
Is Pantheon registered with the SEC or a state?
Pantheon is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 153425.
How much does Pantheon manage?
Pantheon reports $87,688,577,202 in regulatory assets under management in its Form ADV filing dated July 14, 2026 (66% discretionary).
How have Pantheon's assets and staff changed since 2021?
In the Form ADV data for Pantheon: Regulatory assets under management: $32,788,052,924 in the October 2021 data and $87,688,577,202 in the October 2026 data, up 167%. Total employees: 80 in October 2021 and 129 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Pantheon serve?
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (139); pension and profit sharing plans (but not the plan participants or government pension plans) (11); state or municipal government entities (including government pension plans) (3).
Which custodians does Pantheon use?
Pantheon's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists State Street as a custodian holding 10% or more of its separately managed account assets.
Does Pantheon 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/153425
What changed in Pantheon's recent Form ADV filings?
In the August 2026 filing data: Changed its office addresses in New York, NY.
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
- Fixed fees (other than subscription fees)
- 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 2AAsset-based fee: 0.25% to 1.5% a year (a range, as the brochure states it)
The brochure's wording
Typically, the basic fee schedule for our funds is an annual management fee (payable to PV US ) that can range from 0.25% to 1.50% of aggregate capital commitments
As stated in the firm's Form ADV Part 2A brochure dated March 31, 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$87,688,577,202 as of October 2026, filing dated July 14, 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 investment companies (and business development companies)
- 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
- Pantheon Ventures (US) LP
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2010 (16 years)
- Employees
- Total: 129. Performing investment advisory functions: 56.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.
- Other offices (Schedule D, Section 1.F)
-
3 other offices, as of the August 2026 filing
- States registered or notice-filed
-
1 state or jurisdiction
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 | $87,688,577,202 | 129 | July 14, 2026 |
| October 2025 | $75,291,773,328 | 103 | July 18, 2025 |
| October 2024 | $71,532,004,176 | 110 | July 24, 2024 |
| October 2023 | $54,085,991,054 | 110 | July 31, 2023 |
| October 2022 | $45,900,535,817 | 93 | August 10, 2022 |
| October 2021 | $32,788,052,924 | 80 | July 2, 2021 |
Regulatory assets under management: $32,788,052,924 in the October 2021 data and $87,688,577,202 in the October 2026 data, up 167%.
Total employees: 80 in October 2021 and 129 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- August 2026
- Changed its office addresses in New York, NY.
- April 2026
- Employees performing advisory functions went from 52 to 56.
- Regulatory assets under management went from $75,291,773,328 to $87,688,577,202 (+16%).
- Updated its list of owners and control persons (Schedule A).
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. Pantheon (CRD 153425): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/pantheon-san-francisco-ca-153425