$24.90B Filed Aug 28: Hedge Funds Take 52.4% as Venture Capital Falls to 1.5%, a New Monthly Low

AngelLinx Intelligence tracked 118 capital vehicles filed on August 28, totalling $24.90 billion across four fund categories, the largest single-day capital total AngelLinx Intelligence has tracked this month. Hedge funds filed 34 vehicles worth $13.05 billion, representing 52.4% of all capital and 28.8% of all vehicles. Other investment funds filed 27 vehicles worth $11.01 billion (44.2% of capital, 22.9% of vehicles). Private equity filed 18 vehicles worth $463.8 million (1.9% of capital, 15.3% of vehicles). Venture capital filed 39 vehicles worth $379.6 million, representing 1.5% of capital and 33.1% of all vehicles, the highest vehicle count of any category on the day despite recording the lowest capital share AngelLinx Intelligence has tracked this month. All percentages are of 118 total vehicles and $24.90B total capital tracked by AngelLinx Intelligence.

The 118 vehicles and $24.90 billion mark a sharp jump from the prior day's 157 vehicles and $16.14 billion, driven by fewer but far larger filings concentrated almost entirely in hedge funds and other investment funds.

Goldman Sachs' Vintage X Franchise Returns

The largest vehicle of the day was Vintage X (Flagship) Offshore SCSp at $5.85 billion, under Director Revel Wood, part of the same Goldman Sachs Asset Management secondaries franchise AngelLinx Intelligence covered on August 27 when Vintage X (Flagship) LP filed at $4.23 billion. Two more related entities filed alongside it: Vintage X (Origin) LP at $1.05 billion under Richard Ruffer, and Vintage X (Origin) Offshore SCSp at $423.0 million, also under Revel Wood. Across these three vehicles the franchise reported $7.32 billion on August 28 alone, on top of the $4.23 billion Flagship LP vehicle from the prior session, underscoring how large secondaries platforms often file across parallel onshore, offshore, flagship, and origin structures over several sessions rather than in one single filing. See AngelLinx Intelligence's prior coverage of the Vintage X Flagship LP filing for background on what a secondaries fund actually does.

Elsewhere in the hedge fund category, HG Vora Special Opportunities Fund LP filed at $3.17 billion and Linden Investors LP filed at $3.12 billion, together adding another $6.29 billion to the day's total. Combined with the Vintage X cluster, these vehicles alone account for $18.94 billion, or 76.1% of the entire day's $24.90 billion, meaning a handful of large managers drove nearly all of August 28's capital-markets activity. Rounding out the "other investment fund" category, Incentive Active Value Long Only Fund filed at $1.90 billion and Invesco Real Estate Asia Fund filed at $601.9 million, both far behind the Vintage X cluster but still large enough to register among the day's ten biggest vehicles.

That level of concentration is worth sizing against the private equity and venture categories directly beneath it. Private equity's 18 vehicles and $463.8 million, and venture's 39 vehicles and $379.6 million, together total less than $850 million combined, meaning the single largest vehicle of the day, Vintage X (Flagship) Offshore SCSp at $5.85 billion, raised nearly seven times more capital on its own than the entire private equity and venture categories combined.

VC at 1.5%: A New Monthly Low

Venture capital's 1.5% capital share on August 28 is the lowest single-day VC reading AngelLinx Intelligence has tracked this month, edging below August 27's 1.6%. The largest VC vehicle was Tectonic Ventures III, L.P. at $85.6 million under Matthew Rhodes-Kropf, filed alongside an identical $85.6 million parallel vehicle, Tectonic Ventures Parallel III, L.P., a common structure for accommodating different categories of limited partners within a single fund. Stellation Capital II, LP followed at $51.1 million under Peter Boyce II. Browse active investors on AngelLinx to identify which of the day's 39 VC vehicles are relevant to founders at your stage.

What to Watch

Two consecutive sessions of sub-2% VC capital share, alongside a mega-vehicle-driven surge in the day's overall total, reinforce a pattern AngelLinx Intelligence has now tracked repeatedly this month: aggregate capital-markets totals can swing dramatically based on a small number of large institutional filings without reflecting any real change in early-stage fundraising conditions. A single secondaries franchise and two large hedge funds drove more than three-quarters of August 28's entire total, a level of concentration founders should keep in mind any time a single day's aggregate number gets cited as a signal about broader market health. Founders should use the investor match tool to see which VC managers are building active pipelines this week, and the AngelLinx live listing to see what other companies are raising simultaneously.

Founders can also review prior institutional filing coverage for context on how capital concentration has trended across the month. Build your pitch profile and make yourself visible to this week's active investors @ angellinx.ai/register.

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