Data Report · Fund Formation by State · Sep 2025 to Aug 2026
Venture Fund Formation in Wyoming: 22 Funds Filed (Sep 2025 to Aug 2026)
22 venture funds filed a Form D from a Wyoming address in the twelve months to August 2026, 0.24% of every US venture fund filing in that window. Every figure here is computed from the filings themselves.
Written by Michael Kaufman · Reviewed against our editorial standards · Updated
Quick Answer
Between September 2025 and August 2026, 22 venture capital funds filed a first Form D from a Wyoming address, out of 59 pooled-fund filings from the state and 9,169 venture filings nationwide. That is 0.24% of US venture fund formation and ranks Wyoming 20th among the states. The 12 filings that named a dollar target are seeking $213.5M combined, with a median target of $7.8M and a largest single target of $50M; 10 filings declared an indefinite or undisclosed target and are excluded from both figures. 21 of the filings (95.5%) came from issuers with no earlier filing anywhere in the warehouse. Busiest month: Apr 2026 with 6 filings; quietest: Oct 2025 with 0. Figures as of September 15, 2026.
Key Takeaways
- 1.Wyoming recorded 22 venture fund filings in the window, 20th nationally and 0.24% of the 9,169 filed across the country.
- 2.Venture funds were 37.3% of all 59 pooled-fund filings from Wyoming, against 42.6% nationally.
- 3.The 12 filings naming a target are seeking $213.5M combined; the median is $7.8M and 10 filings named no amount at all.
- 4.21 filings (95.5%) came from first-time vehicles, and 9.1% of the state's venture filings carry series-vehicle names, against 65.6% nationally.
- 5.Jackson accounts for 31.8% of the state's venture filings (7 of 22).
22
venture fund filings from Wyoming addresses
20th nationally, 0.24% of the 9,169 filed nationwide
$213.5M
combined disclosed target offering
across the 12 of 22 filings that named a dollar target
$7.8M
median disclosed target
largest single target $50M
21
first-time fund vehicles
95.5% of the state's venture filings came from an issuer with no earlier filing on record
Month by Month: Venture Fund Filings from Wyoming
Filings are counted by SEC filing date. Peak month Apr 2026 at 6, low month Oct 2025 at 0.
- Sep 20253 venture
- Oct 20250 venture
- Nov 20251 venture
- Dec 20253 venture
- Jan 20260 venture
- Feb 20262 venture
- Mar 20261 venture
- Apr 20266 venture
- May 20262 venture
- Jun 20260 venture
- Jul 20262 venture
- Aug 20262 venture
The data does not explain why any month moved the way it did. Form D records that a filing happened, its target and its address. A month-to-month change in these counts is a change in filing behaviour, and nothing in this dataset attributes it to a cause.
The Largest Venture Targets Filed from Wyoming
Ranked by disclosed target offering, across the whole window. “Sold at filing” is the amount reported sold as of the Form D date: a fund showing $0 has not reported sales yet, it has not failed to raise.
| # | Fund | Target | Sold at filing | City | Filed |
|---|---|---|---|---|---|
| 1 | Rembrandt Partners VI, L.P. | $50M | $0 | Laramie | Dec 29, 2025 |
| 2 | LDV Capital V, L.P. | $50M | $0 | Wilson | Aug 4, 2026 |
| 3 | WYO VC Frontier Fund I LP | $40M | $2.9M | Cody | Aug 18, 2026 |
| 4 | Saga Ventures Epona, LP | $35M | $0 | Cheyenne | Apr 13, 2026 |
| 5 | Echelon Fervo, LLC | $13.1M | $13.1M | Evanston | May 14, 2026 |
How Wyoming Compares
Wyoming holds 0.24% of US venture fund filings, which is 20th of the 26 states with enough filings to publish. An even split across those states would be 3.85% each, and the median state in this series filed 13 venture funds against Wyoming’s 22, a factor of 1.7.
Inside the state, venture funds were 37.3% of the 59 pooled-fund filings recorded, against 42.6% nationally. The median disclosed target was $7.8M, against $520K across all US venture filings in the same window.
Read the count with the address in mind. Jackson carries 31.8% of the state’s venture filings (7 of 22), and 9.1% of those filings carry series-vehicle names of the “a series of” or “Series 12” form, against 65.6% nationally. Form D reports the issuer’s principal-place-of-business address, which for a fund is often a legal, administrative or platform address rather than where the manager sits. A high concentration in one town, paired with a high series share, means the count is measuring deal vehicles filed through a platform rather than distinct firms raising funds.
Methodology
Source. Public SEC EDGAR Form D filings, collected by VC Beast’s daily automated ingest into our Form D warehouse (coverage 2024-07-01 through 2026-09-15). Figures on this page are as of September 15, 2026.
Scope. Industry group 'Pooled Investment Fund', original filings only (amendments excluded). Venture filings are those whose Form D investmentFundType is 'Venture Capital Fund'. The window is the twelve full months from 2025-09-01 to 2026-08-31, and filings are bucketed by SEC filing date.
Form D reports the issuer's principal-place-of-business state, which for a fund is often a legal or administrative address rather than where the manager sits. Delaware's count in particular reflects vehicles administered at their Delaware domicile address.
Form D discloses a target offering amount (frequently 'Indefinite') and the amount sold as of the filing date. Neither equals final closed fund size, and they are reported separately here.
First-time vehicles are issuers (by SEC CIK) with no earlier filing anywhere in the warehouse (coverage begins 2024-07-01). Each fund vehicle files under its own CIK, so this measures first-time vehicles, not first-time management firms.
Filings are bucketed by SEC filing date, not by fund close or first sale.
Which states get a page. A state gets a page only when it recorded at least 12 venture fund filings in the window — roughly one a month. Below that the monthly series is mostly zeroes and the medians rest on a handful of filings, so the state is excluded from both the route params and the sitemap rather than published thin. 26 states and territories cleared it; 25 did not and have no page.
Reproducible. Every figure on this page is regenerated by node scripts/reports/generate-state-fund-formation.mjs, and the California count is cross-checked against a direct count query on each run. Corrections: our corrections page.
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The same data, month by month
This page is the twelve-month view for one state. The monthly VC Filings Report covers every state at once, with the largest raises and the first-time managers behind them.
Cite this report
Free to quote, chart and all. An attribution link is all we ask.
VC Beast, Venture Fund Formation in Wyoming, Sep 2025 to Aug 2026, from SEC Form D filings, published September 15, 2026, https://vcbeast.com/reports/fund-formation/wyoming
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Sources & References
- 1.SEC Form D filings via VC Beast's daily EDGAR ingest(Primary data source: original Form D filings from SEC EDGAR)