{
  "crd_number": 317632,
  "slug": "velvet-sea-ventures-west-palm-beach-fl-317632",
  "primary_business_name": "VELVET SEA VENTURES",
  "legal_name": "VSV MANAGEMENT, LLC",
  "dbas": [],
  "city": "West Palm Beach",
  "state": "FL",
  "country": "United States",
  "cbsa_code": "33100",
  "metro": {
    "cbsa_code": "33100",
    "common_name": "Miami",
    "msa_name": "Miami-Fort Lauderdale-West Palm Beach, FL",
    "path": "/advisors/fl/miami"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2022-01-14",
  "years_registered": 4,
  "period": "2026-10-01",
  "filing_date": "2026-04-09",
  "carried_forward": false,
  "raum_total": 229084453.0,
  "raum_discretionary": 229084453.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 9,
  "advisory_employees": 7,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 229084453.0,
      "count": 6
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "FL",
    "MI",
    "NY"
  ],
  "websites": [
    "https://linkedin.com/company/velvet-sea-ventures",
    "https://twitter.com/VelvetSeaVC",
    "https://velvetseavc.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/317632",
  "city_as_filed": "WEST PALM BEACH",
  "url": "https://advisorcensus.com/firm/velvet-sea-ventures-west-palm-beach-fl-317632",
  "display_name": "Velvet Sea Ventures",
  "summary": "Velvet Sea Ventures is an SEC-registered investment advisory firm in West Palm Beach, FL, registered since 2022, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated April 9, 2026.",
  "citation": "AdvisorCensus. Velvet Sea Ventures (CRD 317632): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Velvet Sea Ventures compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Velvet Sea Ventures reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "How much does Velvet Sea Ventures charge?",
      "a": "Its Form ADV Part 2A brochure dated April 9, 2026 states: Asset-based fee: 2% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Velvet Sea Ventures located?",
      "a": "Velvet Sea Ventures' principal office is in West Palm Beach, FL, according to its Form ADV."
    },
    {
      "q": "Is Velvet Sea Ventures registered with the SEC or a state?",
      "a": "Velvet Sea Ventures is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 317632."
    },
    {
      "q": "How much does Velvet Sea Ventures manage?",
      "a": "Velvet Sea Ventures reports $229,084,453 in regulatory assets under management in its Form ADV filing dated April 9, 2026 (100% discretionary)."
    },
    {
      "q": "How have Velvet Sea Ventures' assets and staff changed since 2022?",
      "a": "In the Form ADV data for Velvet Sea Ventures: Regulatory assets under management: $336,153,769 in the October 2022 data and $229,084,453 in the October 2026 data, down 32%. Total employees: 8 in October 2022 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Velvet Sea Ventures serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (6)."
    },
    {
      "q": "Does Velvet Sea Ventures report any disciplinary disclosures?",
      "a": "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/317632"
    },
    {
      "q": "Does Velvet Sea Ventures state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated April 9, 2026 says: \"The minimum investment in the Fund is $1 million. This minimum may be waived or modified in the sole discretion of Traverse.\""
    },
    {
      "q": "What changed in Velvet Sea Ventures' recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $203,900,441 to $229,084,453 (+12%). Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 336153769.0,
      "total_employees": 8,
      "filing_date": "2022-09-28"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 300769118.0,
      "total_employees": 9,
      "filing_date": "2023-03-31"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 206228666.0,
      "total_employees": 9,
      "filing_date": "2024-09-17"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 203900441.0,
      "total_employees": 9,
      "filing_date": "2025-03-28"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 229084453.0,
      "total_employees": 9,
      "filing_date": "2026-04-09"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $203,900,441 to $229,084,453 (+12%).",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated April 9, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": "2% of assets a year",
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$1,000,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 2% of assets a year"
        ],
        "quotes": [
          "the Fund pays Traverse a management fee of 2.0% on committed capital or, following termination of the investment period, actively invested capital, payable in quarterly installments in advance"
        ]
      },
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "The minimum investment in the Fund is $1 million. This minimum may be waived or modified in the sole discretion of Traverse."
        ]
      }
    ],
    "values": {
      "tiers": [
        {
          "min": null,
          "max": null,
          "rate_pct": 2.0
        }
      ],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 1000000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "the Fund pays Traverse a management fee of 2.0% on committed capital or, following termination of the investment period, actively invested capital, payable in quarterly installments in advance",
      "The minimum investment in the Fund is $1 million. This minimum may be waived or modified in the sole discretion of Traverse."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/velvet-sea-ventures-west-palm-beach-fl-317632.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 6,
      "fewer_than_5": false,
      "raum": 229084453.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/317632",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}