# Topiary Capital Management

Topiary Capital Management is a Private Equity based in Ann Arbor, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Ann Arbor, United States
- **Region:** North America
- **Address:** Ann Arbor, MI, United States
- **Founded:** 2020
- **Assets under management:** Undisclosed
- **Website:** www.topiarycapital.com
- **LinkedIn:** https://www.linkedin.com/company/topiarycapital

## Regulatory record

- **CRD number:** 309488
- **SEC file number:** 802-119318
- **Registration status:** ACTIVE
- **Latest Form ADV filing:** 2026-03-20T05:00:00.000Z
- **Reports private funds:** Yes
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/309488

## About

Topiary Capital partners with visionary entrepreneurs who are creating and reshaping large markets. Our interests span a broad range of industries including technology, media, telecom and consumer retail.

## Sectors

- technology
- media
- telecom
- fintech
- renewable energy
- consumer retail

## People

- Dan Copham — Managing Partner
- Matt Schiller — Partner

## Questions

### Who runs investment decisions at Topiary Capital Management?

Dan Copham serves as Managing Partner and Matt Schiller as Partner at Topiary Capital Management. The two principals lead the firm's investment activities, including sourcing, due diligence, and portfolio management across secondaries and direct venture investments.

### How does Topiary Capital source its secondary deals?

Topiary sources secondary opportunities by purchasing LP interests in venture funds and acquiring direct portfolio positions from existing investors. The firm targets situations where sellers seek liquidity, often engaging with fund managers and limited partners outside traditional auction processes. Detailed sourcing mechanics are not publicly disclosed.

### Does Topiary participate in fund commitments or only direct deals?

Topiary's model centers on secondary purchases of fund interests and direct secondary acquisitions of company stakes, alongside making primary investments in early-stage companies. The firm does not publicly market itself as a fund-of-funds, focusing instead on negotiated secondary transactions and selective direct venture commitments.

### What investment stages does Topiary Capital typically target?

Topiary targets venture-stage companies across early-stage rounds. The secondary practice allows the firm to gain exposure to venture-backed companies at various maturity levels through purchased positions, complementing its direct early-stage investment activity.

### Which sectors does Topiary Capital focus on?

Topiary's investment activity concentrates on technology sectors, with confirmed focus areas including enterprise software and fintech. The firm's secondary and primary mandates both prioritize high-growth private technology companies across these categories.

## Related profiles

- [Top Harvest Capital](https://altss.com/profile/top-harvest-capital)
- [Top Knot Ventures](https://altss.com/profile/top-knot-ventures)

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Last updated: 2026-07-08T23:40:35.802Z

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