What is Fifth Down Capital?

Fifth Down Capital invests in private companies and funds through direct investment, fund-of-funds, and secondary strategies. It partners with generational companies and compelling fund managers, shaping large, enduring markets, sourced through a curated ecosystem of venture firms and portfolio company founders. Per the firm's own site, it does not evaluate inbound investment solicitations.

How much does Fifth Down Capital manage?

Fifth Down Capital manages $1.87 billion (SEC Form ADV, filed July 2026) in assets, and was founded in 2014.

What stages does Fifth Down Capital invest at?

Fifth Down Capital invests at Series A, Growth.

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Fifth Down Capital

Venture capital firm; new investor in Valinor Enterprises' $54M Series A (January 2026).

Fifth Down Capital (legal name Fifth Down Cap LLC) is a Boston-based investment firm founded in 2014 by Andrew Spellman. Named partners include Andrew Spellman (Founder & Managing Partner), Janki Lalani Gandhi (Managing Partner), Charlotte Edelman (Chief Administrative/Legal Officer & CCO), and Mara Smith and Kerry Burke (Partners, Co-Heads of Finance). New investor in Valinor Enterprises' $54 million Series A (January 2026).

Overview

Firm: Fifth Down Capital
Headquarters: Boston, MA
Founded: 2014
AUM: $1.87 billion (SEC Form ADV, filed July 2026)
Stages: Series A, Growth
Thesis: Fifth Down Capital invests in private companies and funds through direct investment, fund-of-funds, and secondary strategies. It partners with generational companies and compelling fund managers, shaping large, enduring markets, sourced through a curated ecosystem of venture firms and portfolio company founders. Per the firm's own site, it does not evaluate inbound investment solicitations.
LinkedIn: www.linkedin.com/company/fifth-down-cap
Website: www.fifthdown.com

Portfolio companies1

CompanyValinor EnterprisesUS defense holding company centralizing back-office infrastructure for decentralized product companies.

Partners0

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Frequently asked

What is Fifth Down Capital?: Fifth Down Capital invests in private companies and funds through direct investment, fund-of-funds, and secondary strategies. It partners with generational companies and compelling fund managers, shaping large, enduring markets, sourced through a curated ecosystem of venture firms and portfolio company founders. Per the firm's own site, it does not evaluate inbound investment solicitations.
How much does Fifth Down Capital manage?: Fifth Down Capital manages $1.87 billion (SEC Form ADV, filed July 2026) in assets, and was founded in 2014.
What stages does Fifth Down Capital invest at?: Fifth Down Capital invests at Series A, Growth.

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