# Fifth Down Capital

Fifth Down Capital is a Private Equity based in Medfield, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Medfield, United States
- **Region:** North America
- **Address:** Dover, MA, United States
- **Founded:** 2020
- **Assets under management:** $25M (Altss estimate)
- **Website:** www.fifthdown.com
- **LinkedIn:** https://www.linkedin.com/company/fifth-down-cap

## Regulatory record

- **CRD number:** 312861
- **SEC file number:** 801-120623
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-03-31T05:00:00.000Z
- **Reports private funds:** Yes
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/312861

## About

Fifth Down Capital was established in 2020 in Dover, Massachusetts, as a private equity fund-of-funds manager focused exclusively on venture capital partnerships. The firm channels capital into early-stage technology and consumer-focused venture funds, spanning seed, startup, and expansion-stage strategies. Its founding came during a period of significant dispersion in venture returns, when manager selection advantage was particularly acute. The firm's strategy centers on constructing a concentrated portfolio of external VC fund commitments rather than making direct company investments. Target managers typically operate at seed and early-stage check sizes, with the fund-of-funds vehicle providing diversified exposure across multiple general partners. The investment approach spans technology subsectors including enterprise software, fintech, and consumer platforms. Geographic focus remains primarily US-based venture ecosystems, though the firm can access international managers through underlying fund commitments. The firm maintains a lean operational footprint consistent with its estimated $25M deployment base (Altss estimate). Its suburban Boston location positions it outside traditional financial centers, consistent with a focused, relationship-driven sourcing model rather than an institutional platform buildout. No additional offices or adjacent vehicles — such as philanthropic foundations or direct-investment arms — have been publicly identified. Fifth Down's structural distinction lies in its pure intermediary architecture: it does not pursue direct co-investments, does not operate a management company investing alongside, and does not market to external limited partners. This creates a clean alignment where the firm's sole function is manager evaluation and access on behalf of a single capital base, avoiding the conflicts inherent in hybrid direct-plus-fund models.

## Sectors

- Enterprise Software
- AI/ML
- FinTech
- Consumer Tech

## Questions

### Does Fifth Down Capital make direct investments or only fund commitments?

Fifth Down Capital operates as a pure fund-of-funds manager and does not make direct company investments. The firm's stated strategy involves investing in private equity and venture capital funds, without co-investment vehicles or direct-deal programs. This structure avoids the conflicts that can arise when a fund-of-funds competes with its own underlying managers for direct allocation opportunities.

## Related profiles

- [ER Capital](https://altss.com/profile/er-capital)
- [FOFM](https://altss.com/profile/fofm)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/fifth-down-capital

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology