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| Next Legacy Management LLC
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| CRD # | 156640 |
| SEC # | 801-73561 |
| CIK # | |
| AUM | 4,410.4 M (2026-03-31) |
| Employees | 26 (42% Investors, 0% Brokers) |
| Fees | |
| Minimum | |
| Phone | 650-324-5980 |
| Address | 3000 Alpine Rd Portola Valley, CA 94028-7520 |
| Source | [IAPD] [Website] [Twitter] [LinkedIn] [Instagram] |
| Total AUM ($B) |
|---|
| Type | Form D Funds | Date | Sold | AUM |
|---|---|---|---|---|
| VC | Next Legacy Alpha 4 LP | [2026-03-31] | 63.4 M | |
| Offered $100,000,000 · Filed 2024-12-19 (D) · Exemption 506(b), 3(c), 3(c)(7) · Remaining $100,000,000 · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Next Legacy Emerging Leaders 2 LP | [2026-03-31] | 42.5 M | |
| Offered $50,000,000 · Filed 2025-04-25 (D) · Exemption 506(b), 3(c), 3(c)(7) · Remaining $50,000,000 · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Next Legacy Lioness LP | [2026-03-31] | 9.6 M | |
| Filed 2025-07-11 (D) · Exemption 506(b), 3(c), 3(c)(1) · Remaining Indefinite · Duration One year or less · Net Assets Decline to Disclose | ||||
| VC | Next Legacy Unrivaled LP | [2026-03-31] | 1.4 M | 1.3 M |
| Offered $1,350,000 · Filed 2025-08-14 (D) · Exemption 506(b), 3(c), 3(c)(1), 3(c)(7) · Minimum $50,000 · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Next Legacy XII LLC | [2026-03-31] | 421.7 M | |
| Offered $400,000,000 · Filed 2024-12-16 (D) · Exemption 506(b), 3(c), 3(c)(7) · Remaining $400,000,000 · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | NLP AI LP | [2026-03-31] | 10.3 M | 10.3 M |
| Offered $10,256,400 · Filed 2025-12-23 (D) · Exemption 506(b), 3(c), 3(c)(1), 3(c)(7) · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Next Legacy Inflection Fund 2 LP | [2025-03-26] | 32.4 M | 35.7 M |
| Filed 2021-03-12 (D/A) · Exemption 506(b), 3(c), 3(c)(1) · Remaining Indefinite · Duration More than one year · Revenue Decline to Disclose | ||||
| VC | Next Legacy Emerging Leaders 1 LP | [2024-03-28] | 33.2 M | 49.3 M |
| Offered $50,000,000 · Filed 2023-11-02 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Remaining $16,800,000 · Duration More than one year · Revenue Decline to Disclose | ||||
| VC | Next Play SJPF LP | [2024-03-28] | 9.4 M | |
| Filed 2022-06-16 (D) · Exemption 04.1, 3(c), 3(c)(7) · Remaining Indefinite · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | NPC Medly LLC | [2024-03-28] | 2.0 M | 0.2 M |
| Filed 2022-02-25 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $10,000 · Remaining Indefinite · Duration One year or less · Revenue Not Applicable | ||||
| VC | Legacy Venture Xi LLC | [2023-02-22] | 500.4 M | |
| Offered $475,000,000 · Filed 2022-06-29 (D) · Exemption 506(b), 3(c), 3(c)(7) · Remaining $475,000,000 · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Next Play Capital III LP | [2022-03-31] | 20.2 M | |
| Filed 2021-01-12 (D) · Exemption 506(b), 3(c), 3(c)(1) · Remaining Indefinite · Duration More than one year · Revenue Decline to Disclose | ||||
| VC | Next Play Capital III Q LP | [2022-03-31] | 172.4 M | 203.4 M |
| Filed 2022-04-15 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Remaining Indefinite · Duration More than one year · Revenue Decline to Disclose | ||||
| VC | NPC Babylist LLC | [2022-03-31] | 1.5 M | 1.9 M |
| Filed 2021-11-08 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $10,000 · Remaining Indefinite · Duration One year or less · Revenue Not Applicable | ||||
| VC | NPC Guild II LLC | [2022-03-31] | 17.2 M | 17.8 M |
| Filed 2021-06-23 (D) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $50,000 · Remaining Indefinite · Duration One year or less · Revenue Not Applicable | ||||
| VC | NPC Keep Truckin LLC | [2022-03-31] | 2.4 M | 2.3 M |
| Filed 2021-05-07 (D) · Exemption 506(b), 3(c), 3(c)(1), 3(c)(7) · Minimum $50,000 · Remaining Indefinite · Duration One year or less · Revenue Not Applicable | ||||
| VC | NPC Lime II LLC | [2022-03-31] | 4.7 M | 5.7 M |
| Filed 2021-10-25 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $25,000 · Remaining Indefinite · Duration One year or less · Revenue Not Applicable | ||||
| VC | NPC VB LLC | [2022-03-31] | 6.2 M | 1.2 M |
| Filed 2021-09-24 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $25,000 · Remaining Indefinite · Duration One year or less · Revenue Not Applicable | ||||
| VC | Next Play Capital II LP | [2021-04-01] | 71.7 M | |
| Filed 2018-03-02 (D) · Exemption 506(b), 3(c), 3(c)(1), 3(c)(7) · Remaining Indefinite · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Next Play Capital II Q LP | [2021-04-01] | 71.7 M | |
| Filed 2019-08-08 (D) · Exemption 506(b), 3(c), 3(c)(7) · Remaining Indefinite · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Next Play Capital I LP | [2021-04-01] | 4.7 M | 51.2 M |
| Offered $50,000,000 · Filed 2015-09-23 (D/A) · Exemption 506(b), 3(c), 3(c)(1) · Remaining $45,275,000 · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | NPC Avilac II LLC | [2021-04-01] | 0.5 M | 0.0 M |
| Filed 2019-12-06 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $25,000 · Remaining Indefinite · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | NPC Axiomatic LLC | [2021-04-01] | 2.4 M | 7.9 M |
| Offered $4,475,000 · Filed 2019-04-22 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $25,000 · Remaining $2,100,000 · Duration One year or less · Revenue Not Applicable | ||||
| VC | NPC Bytedance LLC | [2021-04-01] | 0.8 M | 3.3 M |
| Filed 2019-02-01 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $25,000 · Remaining Indefinite · Duration One year or less · Revenue Not Applicable | ||||
| VC | NPC Caliva LLC | [2021-04-01] | 0.3 M | 0.0 M |
| Filed 2019-01-17 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $25,000 · Remaining Indefinite · Duration One year or less · Revenue Not Applicable | ||||
| VC | NPC Carbon LLC | [2021-04-01] | 0.8 M | 0.1 M |
| Filed 2019-12-06 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $25,000 · Remaining Indefinite · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | NPC Carta LLC | [2021-04-01] | 0.3 M | 1.8 M |
| Filed 2019-02-20 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $25,000 · Remaining Indefinite · Duration One year or less · Revenue Not Applicable | ||||
| VC | NPC Exabeam LLC | [2021-04-01] | 4.2 M | 2.0 M |
| Filed 2019-04-26 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $50,000 · Remaining Indefinite · Duration One year or less · Revenue Not Applicable | ||||
| VC | NPC Fanduel LLC | [2021-04-01] | 1.4 M | 1.0 M |
| Offered $1,415,000 · Filed 2015-04-21 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $25,000 · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | NPC Flexport LLC | [2021-04-01] | 2.0 M | 3.7 M |
| Filed 2018-08-10 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $10,000 · Remaining Indefinite · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | NPC Guild LLC | [2021-04-01] | 1.7 M | 0.6 M |
| Filed 2020-03-13 (D) · Exemption 506(b), 3(c), 3(c)(1), 3(c)(7) · Minimum $50,000 · Remaining Indefinite · Duration One year or less · Revenue Not Applicable | ||||
| VC | NPC Impossible Foods II LLC | [2021-04-01] | 3.1 M | 1.3 M |
| Filed 2019-05-15 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $10,000 · Remaining Indefinite · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | NPC Impossible Foods LLC | [2021-04-01] | 0.6 M | 0.4 M |
| Offered $625,000 · Filed 2016-12-02 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $10,000 · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | NPC Lime LLC | [2021-04-01] | 1.4 M | 1.3 M |
| Filed 2019-03-13 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $25,000 · Remaining Indefinite · Duration One year or less · Revenue Not Applicable | ||||
| VC | NPC Opportunity Fund LP | [2021-04-01] | 32.4 M | 27.4 M |
| Filed 2021-03-12 (D/A) · Exemption 506(b), 3(c), 3(c)(1) · Remaining Indefinite · Duration More than one year · Revenue Decline to Disclose | ||||
| VC | NPC Rubrik II LLC | [2021-04-01] | 3.8 M | 3.5 M |
| Filed 2019-01-11 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $25,000 · Remaining Indefinite · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | NPC Rubrik LLC | [2021-04-01] | 1.5 M | 1.8 M |
| Offered $1,510,000 · Filed 2017-04-27 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $25,000 · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | NPC Thoughtspot LLC | [2021-04-01] | 2.7 M | 2.4 M |
| Filed 2019-08-21 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $10,000 · Remaining Indefinite · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | NPC Tonal LLC | [2021-04-01] | 0.7 M | 0.0 M |
| Filed 2020-06-12 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $10,000 · Remaining Indefinite · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Legacy 10 LLC | 2021-03-31 | 551.8 M | |
| VC | Legacy K LLC | [2021-03-31] | 200.0 M | 235.7 M |
| Offered $200,000,000 · Filed 2020-11-20 (D) · Exemption 506(b), 3(c), 3(c)(1), 3(c)(7) · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Legacy Venture X LLC | [2021-03-31] | 397.5 M | |
| Offered $340,000,000 · Filed 2020-10-14 (D) · Exemption 506(b), 3(c), 3(c)(7) · Remaining $340,000,000 · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Legacy Venture IX LLC | [2019-03-29] | 312.8 M | 490.9 M |
| Offered $312,800,000 · Filed 2019-01-24 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Legacy Venture VIII LLC | [2016-03-22] | 291.1 M | 541.1 M |
| Offered $291,100,000 · Filed 2016-12-16 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Legacy Venture VII LLC | [2014-03-27] | 528.6 M | |
| Offered $240,000,000 · Filed 2014-02-26 (D) · Exemption 506(b), 3(c), 3(c)(7) · Remaining $240,000,000 · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Legacy I LLC | 2012-02-13 | 1.9 M | |
| VC | Legacy Venture III LLC | 2012-02-13 | 44.7 M | |
| VC | Legacy Venture II LLC | 2012-02-13 | 15.4 M | |
| VC | Legacy Venture IV LLC | 2012-02-13 | 46.1 M | |
| VC | Legacy Venture VI LLC | [2012-02-13] | 86.8 M | 136.1 M |
| Offered $86,750,000 · Filed 2011-07-14 (D/A) · Exemption 506, 3(c), 3(c)(1) · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Legacy Venture VI QP LLC | [2012-02-13] | 199.0 M | 313.3 M |
| Offered $199,000,000 · Filed 2011-07-14 (D/A) · Exemption 506, 3(c), 3(c)(7) · Duration One year or less · Revenue Decline to Disclose | ||||
| VC | Legacy Venture V LLC | [2012-02-13] | 17.4 M | |
| VC | Legacy Venture V QP LLC | [2012-02-13] | 73.8 M | |
| AUM Breakdown | Accounts | AUM ($B) |
|---|---|---|
| By Client Type | ||
| (a) Individuals (other than high net worth individuals) | 0 | 0.0 |
| (b) Individuals (high net worth individuals) | 0 | 0.0 |
| (c) Banking or thrift institutions | 0 | 0.0 |
| (d) Investment companies | 0 | 0.0 |
| (e) Business development companies | 0 | 0.0 |
| (f) Pooled investment vehicles | 47 | 4.4 |
| (g) Pension and profit sharing plans | 0 | 0.0 |
| (h) Charitable organizations | 0 | 0.0 |
| (i) State or municipal government entities | 0 | 0.0 |
| (j) Other investment advisers | 0 | 0.0 |
| (k) Insurance companies | 0 | 0.0 |
| (l) Sovereign wealth funds and foreign official institutions | 0 | 0.0 |
| (m) Corporations or other businesses not listed above | 0 | 0.0 |
| (n) Other | 0 | 0.0 |
| Total | 47 | 4.4 |
| By Discretionary | ||
| Discretionary | 47 | 4.4 |
| Non-Discretionary | 0 | 0.0 |
| Total | 47 | 4.4 |
| By Non-United States Persons | ||
| Non-United States Persons | 0.0 | |
| United States Persons | 4.4 | |
| Total | 47 | 4.4 |
| Limited Partners | 2011 - 2026 |
|---|---|
| New York State and Local Retirement System |
| Form D Directors | Role | # Filings | # Firms | 2011 - 2026 |
|---|---|---|---|---|
| Ryan Nece | Director, Executive Officer | 40 | 3 | |
| Eric Valle | Director, Executive Officer | 31 | 3 | |
| John Ailanjian | Director, Executive Officer | 25 | 3 | |
| Next Play Capital LLC NA | Executive Officer | 22 | 3 | |
| Next Play Capital GP II LLC NA | Executive Officer | 18 | 3 | |
| Ben Choi | Director, Promoter | 13 | 3 | |
| Kelli Cullinane | Director | 9 | 2 | |
| Russell Hall | Director, Promoter | 9 | 2 | |
| Alan Marty | Director, Promoter | 8 | 2 | |
| Next Play Capital GP I LP | Executive Officer | 4 | 2 | |
| View All | ||||
| Firm Profile (Form ADV) | |
|---|---|
| Discretionary AUM | $1.2B |
| Clients | 3 |
| Serves | Institutional |
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|---|---|---|
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