SEC-Registered Investment Adviser
Republic Capital
Legal name: Republic Capital Adviser LLC
Republic Capital is an SEC-registered adviser managing about $431 million across pooled investment vehicles per Form ADV Part 1A filed June 22, 2026, advising 100 private equity and venture capital funds, and present on the Republic platform.
Registration facts are from the firm's Form ADV Part 1A as published by the SEC, latest filing dated June 22, 2026, and from its Form ADV Part 2A brochure submitted March 27, 2026. Figures are firm-level: they describe the advisory firm, not any single offering.
Registration
- Status
- Approved
- Registered since
- January 3, 2022
- Principal office
- 149 5th Avenue, Floor 10, Studio, New York, NY 10010
- Organized as
- Limited Liability Company, DE
- Fiscal year end
- December
- Website
- republiccapital.co
- Founded (per brochure)
- 2019
Scale
- Regulatory AUM
- $430.9M
- Attributable to non-US clients
- $17.5M
- Accounts
- 102
- Clients
- 0
- Employees
- 6, 2 in advisory roles
- Private funds advised
- 100
- Private fund gross assets
- $410.9M
- Fund types
- 82 private equity funds, 18 venture capital funds
- Funds with Form D records
- 87 issuers in AltStreet's ledger, $337.0M reported sold across them
- Client assets in custody
- $430.9M (102 clients)
Business, clients and compensation, as filed
- Advisory activities
- portfolio management for pooled investment vehicles
- Compensated by
- a percentage of assets under management and performance-based fees
- Client types
- pooled investment vehicles (102)
- Related persons include
- a broker-dealer, another investment adviser and a sponsor, general partner or managing member of pooled investment vehicles
- Affiliates
- 2 broker-dealers, 1 investment adviser
Form ADV Item 11 disclosures
No yes answers on Item 11 as of the latest Form ADV (June 22, 2026). Item 11 covers the firm and its advisory affiliates.
Brochure Item 9, as stated by the firm: The brochure states there are no legal or disciplinary events to disclose: 'There have been no legal or disciplinary events involving either Republic Capital or any of its management persons that are material to Republic Capital's advisory business.'
Form D activity of the funds this firm advises, by year
87 issuers in AltStreet's EDGAR ledger are joined to this adviser through Form ADV Schedule D, with Form D filings from August 1, 2019 to August 11, 2023. Reported sold across them: $337.0M.Years are the year of each offering's first notice; sold and investors are the latest figures on each chain. Counts and totals only; the fund roster is in the terminal.
| First notice | Offerings | Reported sold | Investors |
|---|---|---|---|
| 2023 | 6 | $15.9M | 70 |
| 2022 | 16 | $81.4M | 375 |
| 2021 | 38 | $174.9M | 1,071 |
| 2020 | 17 | $43.5M | 187 |
| 2019 | 10 | $21.2M | 156 |
About the firm
What the firm is
Republic Capital, legal name Republic Capital Adviser LLC, is registered with the SEC under CRD number 316437. The firm's Form ADV Part 2A brochure dated March 27, 2026 states that the firm was organized in 2019 as Republic Maximal, with its principal place of business in New York, NY, and did business under the names "Republic Capital" and "Republic Labs" until it was succeeded by Republic Capital on or about January 3, 2022.
The firm's brochure says Republic Capital is a Delaware LLC and successor to its immediate parent, Republic Maximal LLC, which is itself a wholly owned subsidiary of OpenDeal Inc., doing business as Republic. The brochure describes Republic Capital as affiliated with numerous Republic-branded general partner entities through this ownership chain.
Registration and structure
According to Form ADV Part 1A filed June 22, 2026, Republic Capital is organized as a Delaware limited liability company with a December fiscal year end and is headquartered at 149 5th Avenue, Floor 10, Studio, New York, NY 10010. IAPD, read September 30, 2026, shows SEC registration approved effective January 3, 2022, and a notice filing in New York effective the same date. The firm reported no relying advisers in its Part 1A filing and IAPD's roster shows none listed.
Form ADV Part 1A filed June 22, 2026 reports 6 total employees, 2 of whom perform advisory functions, and states the firm is not a sponsor of wrap fee programs. Related persons disclosed include a broker-dealer, another investment adviser, and a sponsor, general partner, or managing member of pooled investment vehicles.
Clients, assets and fees
Form ADV Part 1A filed June 22, 2026 reports 102 clients, all pooled investment vehicles, with discretionary regulatory assets under management of $430,942,874 and no non-discretionary assets. Of this total, $17,537,955 is attributed to non-U.S. assets. The same filing reports 100 private funds advised, with gross asset value of $410,873,801, made up of 82 private equity funds and 18 venture capital funds. The firm's brochure dated March 27, 2026 separately states total assets of $430,942,874 as of December 31, 2025.
Form ADV Part 1A filed June 22, 2026 lists compensation as a percentage of assets under management and performance-based fees. The firm's brochure says Republic Capital is compensated through management fees paid either one-time by SPV funds at closing or deducted quarterly from unreturned capital contributions for multi-asset funds, and that the firm and its affiliated general partners generally also receive performance-based compensation, referred to as carried interest, on capital appreciation of fund assets. The brochure states fees may be waived, reduced, or modified under each fund's operative documents, and that funds bear offering, organizational, and operating expenses. For minimum investment amounts, the brochure directs investors to each fund's operative documents and notes the firm retains discretion to waive, increase, or reduce minimums.
Form ADV Part 1A filed June 22, 2026 indicates the firm has custody of client cash or securities, covering $430,942,874 across 102 clients. The firm's brochure says Republic Capital adheres to the Custody Rule with respect to fund assets, maintains custody with a qualified custodian where applicable, and arranges annual independent audits delivered within 120 days of fiscal year end, or 180 days for funds of funds. For digital assets, the brochure describes custody through a qualified custodian or, where unavailable, secure cloud storage with two-factor authentication or cold wallet storage requiring at least two supervised persons to transfer or alter assets.
Affiliations and conflicts the firm discloses
The firm's brochure lists affiliations including OpenDeal Broker LLC, described as an SEC-registered broker-dealer, OpenDeal Portal LLC, described as an SEC-registered funding portal, Republic Deal Room Adviser LLC and Republic Asia Advisors LLC, both described as exempt reporting investment advisers, Seedrs Limited, described as a United Kingdom financial intermediary licensed by the Financial Conduct Authority, and Republic Crypto LLC doing business as Republic Advisory Services, engaged to provide diligence and advisory services related to digital assets.
The firm's brochure discloses several conflicts of interest. These include that performance-based compensation may vary by fund and could create an incentive to favor funds paying higher performance fees, that the firm or an affiliate may waive or alter fees, minimums, or grant co-investment rights through side letters, that expense allocation among funds involves subjective determinations, that affiliates may have prior or ongoing business with portfolio companies and earn fees from portfolio assets, that Republic Advisory Services may earn fees including a percentage of digital asset supply from portfolio companies, that supervised persons may trade securities the firm recommends to funds, and that the firm participates in principal transactions between related persons and funds.
Disciplinary and disclosure record
Form ADV Part 1A filed June 22, 2026 reports no disclosure events for the firm. The firm's brochure dated March 27, 2026 states there have been no legal or disciplinary events involving either Republic Capital or any of its management persons that are material to the firm's advisory business.
Presence on the platforms AltStreet covers
AltStreet's records as of September 30, 2026 list Republic Capital's presence on the Republic platform.
Fees and minimums, as stated in the firm's brochure
Republic Capital is compensated through management fees, which are either paid one-time by SPV Funds at closing or deducted quarterly from unreturned capital contributions for multi-asset Funds. The Firm and its affiliated general partners also generally receive performance-based compensation (Carried Interest) on capital appreciation of Fund assets. Fees may be waived, reduced, or modified pursuant to each Fund's Operative Documents, and Funds also bear various offering, organizational, and operating expenses.
Performance fees: Republic Capital and its affiliated general partners generally accept performance-based fees (referred to as "Carried Interest") on capital appreciation of Fund assets. Performance-based compensation may vary by Fund, which may create an incentive to favor Funds paying higher performance-based compensation in allocation of investment opportunities; some Funds may not be charged performance-based fees.
Minimums: Prospective and existing underlying Fund participants should refer to the Operative Documents of each respective Fund for information on minimum investment requirements. Republic Capital maintains discretion to individually waive, increase or reduce the minimum investment required in any Fund.
Ownership, affiliations and conflicts the firm discloses
Ownership: Republic Capital is a Delaware LLC and successor to its immediate parent, Republic Maximal LLC, which is itself a wholly owned subsidiary of OpenDeal Inc. dba Republic ("Republic Parent"); Republic Capital is therefore a subsidiary of Republic Parent and is affiliated with numerous Republic-branded general partner entities via its status as a subsidiary of Republic Maximal.
Affiliations: OpenDeal Broker LLC – a SEC-registered broker dealer; OpenDeal Portal LLC – a SEC-registered funding portal; Republic Deal Room Adviser LLC – an exempt reporting investment adviser; Republic Asia Advisors LLC – an exempt reporting investment adviser; Seedrs Limited – a United Kingdom financial intermediary licensed by the Financial Conduct Authority; Republic Crypto LLC dba Republic Advisory Services LLC (RAS) – engaged to conduct diligence and advisory services related to digital assets
Conflicts of interest the brochure identifies, as stated:
- Performance-based compensation may vary by Fund, creating an incentive to favor Funds that pay higher performance-based compensation in allocation of investment opportunities.
- Republic Capital or an affiliate has authority to waive, alter or modify management fees, minimum investments, or grant co-investment rights for certain limited partners via side letters, which may disadvantage other investors.
- Expense allocation decisions among multiple Funds involve subjective determinations and potential conflicts of interest, as expenses may not be exactly proportional to benefits derived.
- Republic Capital's affiliates (e.g., OpenDeal Broker LLC, OpenDeal Portal LLC, Republic Deal Room Adviser LLC, Republic Asia Advisors LLC, Seedrs Limited) may have previously worked with, or do business with, portfolio companies and earn fees from portfolio assets.
- Republic Crypto LLC dba Republic Advisory Services (RAS) may provide consulting services to portfolio companies or related entities and receive fees (including a percentage of digital asset supply), creating an incentive for RAS to maximize its own profit rather than act in the best interest of the Funds.
- Supervised Persons and related persons may buy or sell securities that Republic Capital recommends to Funds, creating conflicts from due diligence benefiting personal trades.
- Republic Capital participates in principal transactions between related persons and the Funds, which presents conflicts of interest under Section 206(3) of the Advisers Act.
- The Firm and its affiliates may engage other affiliated persons or entities to provide services and compensate them, and affiliated persons may have an interest in investment opportunities Republic Capital contemplates or enters into.
Relying advisers and state notice filings (IAPD)
Notice filings: New York
Platform this firm advises for
In the directory
Related advisers
Is this your firm? Verified Profiles give managers a structured channel for corrections, additional disclosures, and right of reply, without changing AltStreet's independent research. Learn about verification →
Sources for the firm profile
- Form ADV Part 1A as of the SEC roster (latest filing 2026-06-22)
- SEC IAPD firm record
- Form ADV Part 2A brochure "REPUBLIC CAPITAL FORM ADV PART 2A BROCHURE" (submitted 2026-03-27, 21 pages)
Public record read September 30, 2026.
Source: SEC Form ADV via IARD (roster of November 2, 2026), matched to the platform by AltStreet analysts. Item 11 answers are as reported on the firm's Form ADV and cover the firm and its advisory affiliates; consult the firm's IAPD record for the Disclosure Reporting Pages. Brochure statements are the firm's own. Nothing on this page is investment advice.