Overview
A. Description of the Advisory Firm
Section Partners Management, LLC (“Section Partners” or the “Firm”), a Delaware limited
liability company, formed on February 13, 2014. David Crowder and Alisyn Crowder are the
principal owners and Mr. Crowder is the Managing Partner of Section Partners.
B. Types of Advisory Services
The Firm serves as investment adviser to certain private investment funds, which are
organized as Delaware limited partnerships or limited liability companies (each a “Fund” and
collectively the “Funds”). Affiliates of the Firm serve as the General Partner or Managing
Member, as applicable, of the Funds. The Firm may decide in the future to sponsor or manage
additional private investment funds.
The Firm is a venture capital firm that provides financing to stock and option holders of high-
growth, late-stage, venture-backed companies. Investments are made in accordance with the
strategy described in each Fund’s offering
memorandum, limited partnership agreement or
limited liability company operating agreement (as applicable), and subscription documents
(collectively, the “Governing Documents”).
The Funds offer limited partnership or membership interests, as applicable (“Interests”) to
certain qualified investors as described in response to Item 7, below (such investors are
referred to herein as “Investors”).
C. Client Tailored Services and Client Imposed Restrictions
Advisory services are tailored to achieve the Funds’ investment objectives. The Firm has the
authority to select which and how many portfolio companies invest in without consultation
with the Fund or its Investors.
D. Wrap Fee Programs
The Firm does not participate in wrap fee programs.
E. Amounts Under Management
As of December 31, 2023, the Firm has $588,000,103 in regulatory assets under management
on a discretionary basis. The Firm does not manage assets on a non-discretionary basis.