Managers/Private equity/First Principles

First Principles

First Principles is a private equity and venture manager in Bangalore. It is registered with the SEC as an investment adviser with $1.6B in regulatory assets and 2 staff. It has 18 funds on file, the latest reported in August 2026.

Funds on file
18
Raised, all funds
$273.2M
Regulatory assets
$1.6B
Staff
2
Pension investors
None found
See the adviser's own filing →

Latest fund filing

Funds

DateFundTypeRaisedTarget
Aug 2026 FPG Ad Ultra IV, LP Venture $8.5M $8.5M
Mar 2026 FPG Ad Ultra III, LP Venture $0 Not given
Mar 2026 FPG Ad Astra XIII, LP Private equity $47.9M $47.9M
Jan 2026 FPG Ad Astra XI, LP Venture $9.3M $9.3M
Dec 2025 FPG Ad Claritas VI, LP Venture $10.6M $10.6M
Dec 2025 FPG Ad Claritas V, LP Venture $0 Not given
Nov 2025 FPG Ad Astra X, LP Venture $25.5M Not given
Sep 2025 FPG Ad Novo III, LP Venture $0 Not given
Jul 2025 FPG Ad Claritas IV, LP Venture $10.1M $10.1M
May 2025 FPG Ad Ultra II, LP Venture $9.3M $9.3M
Sep 2024 FPG Ad Ultra I, LP Venture $13M $13M
May 2024 FPG Ad Claritas II, LP Venture $0 Not given
May 2024 FPG Ad Claritas I, LP Venture $0 Not given
Dec 2023 FPG Ad Nexum I, LP Venture $2M $2M
Oct 2023 FPG Ad Astra IV, LLC Venture $33.9M Not given
Oct 2023 FPG Ad Astra V, LLC Venture $48.5M Not given
Sep 2023 FPG Big Tree, LLC Venture $21.3M $21.3M
Sep 2023 FPG Huge Tree, LLC Venture $33.3M $33.3M

Adviser record

RegistrationRegistered with the SEC as an investment adviser.
Regulatory assets$1.6B
Employees2
Clients23 private funds.
Control personsBenjamin Holland, Robert, John Maurer.
Private funds13 private funds holding $340.2M in gross assets.

Private funds it reports

FundTypeGross assets
FPG AD Astra V Private equity $59.3M
First Principles Group Fund II Ocisly Private equity $47M
FPG AD Astra IV Private equity $41.8M
FPG AD Claritas I Venture $33.8M
FPG Huge Tree Venture $32.5M
FPG Fund IV Private equity $31.5M
First Principles Group Fund I Private equity $24.4M
FPG AD Astra VI Private equity $21.8M
FPG Big Tree Venture $19.8M
FPG Free Bird Fund Private equity $11M
FPG AD Astra Vii Private equity $8.6M
FPG AD Claritas II Venture $6.2M
FPG AD Nexum I Venture $2.5M