Overview
Anthemis Capital Managers (Americas) LLC is a Delaware limited liability company with its
principal office and place of business in New York, NY. Anthemis US is wholly-owned by
Anthemis Asset Management Limited, an English limited company, which is (indirectly) wholly-
owned by Anthemis Group S.A. Anthemis Capital Managers Limited (the “Primary Adviser” or
“Anthemis UK”) is separately registered with the SEC as an investment adviser and is also
authorized and regulated by the UK Financial Conduct Authority. The Primary Adviser is wholly-
owned by Anthemis Asset Management Limited, an English limited company, which is
(indirectly) wholly-owned by Anthemis Group S.A. Anthemis Capital Managers (Guernsey)
Limited is a Guernsey Limited company with a principal place of business in Guernsey,
Guernsey. Anthemis Guernsey is wholly-owned by the Primary Adviser.
Anthemis provides discretionary and non-discretionary investment advisory services to private,
pooled investment vehicles. Anthemis’ Clients include the following (each, a “Fund,” some of
which may include feeder investment vehicles which are also considered to be Clients, and together
with any future private investment fund to which the Primary Adviser (as defined below) or its
affiliates provide investment advisory services, the “Funds” or the “Clients”):
• Anthemis Insurance Venture Growth Fund, S.C.Sp (“AIVG”)
• Anthemis Venture Fund I LP (“AVF”)
• Anthemis Venture Fund II S.C.Sp (“AVFII Master”)
• Anthemis Venture II Feeder Fund SCSP (“AVFII Feeder”)
• Anthemis Venture II US Feeder Fund LP (“AVFII US Feeder”, together with AVFII
Master and AVFII Feeder, “AVFII”)
• Anthemis Venture Fund III LP (“AVFIII")
• Female Innovators Lab LP (“FIL”)
Anthemis US is engaged by the Primary Adviser through a sub-advisory agreement (the “Sub-
Advisory Agreement”) to provide investment advice regarding investments for each Fund.
Anthemis US follows the investment objectives, guidelines and restrictions set forth in the
applicable governing and/or offering documents of each Fund. Anthemis Guernsey has engaged
the Primary Adviser to provide sub-advisory services to AVFIII. The Funds are private investment
vehicles and invest through negotiated transactions in privately held growth companies (such
investments generally referred to herein as “portfolio companies”).
Anthemis does not limit its investment advice to only certain types of investments.
Anthemis US’ advisory services are provided to Anthemis UK pursuant to the terms of an
Advisory Agreement between Anthemis UK and Anthemis US relating
to the Funds. Certain
Anthemis affiliates serve as the General Partners to the Funds (the “General Partners”).
Additionally, each Fund has a founding partner (“Founding Partner”) which receives a carried
interest payment, as described below in Item 5. Throughout this Brochure, reference to Anthemis
should be deemed to include reference to the “General Partners,” as the affiliates are under
common control and provide services substantially through the same persons. The Funds do not
offer interests to the public, and Fund interests are only offered in private placements to accredited
investors. The terms applicable to investors in the Funds are detailed in the Funds’ confidential
offering documents, which are provided to prospective investors.
Anthemis Guernsey provides advisory services solely to AVFIII.
Please see Item 8.A. for additional information regarding the Firm’s investment strategy.
Anthemis will tailor its specific advisory services with respect to each Fund based on the particular
investment objectives and strategies described in, for example, a Fund’s confidential offering
memorandum (if any), limited liability company operating agreement, account opening,
investment advisory/management services agreement and other related documents (referred to
collectively as the “Governing Documents”.
Investors in each Fund participate in the overall investment program for the applicable Fund, but
in certain circumstances are excused from a particular investment due to legal, regulatory or other
agreed-upon circumstances pursuant to the Governing Documents; for the avoidance of doubt,
such arrangements generally do not and will not create an adviser-client relationship among
Anthemis US, the Primary Adviser and/or any investor. Each Fund or the relevant General Partner
generally enter into side letters or other similar agreements (“Side Letters”) with certain investors
that have the effect of establishing rights (including economic or other terms) under, or altering
or supplementing the terms of, the Governing Documents with respect to such investors.
Anthemis US’ sub-advisory services to its Clients are provided pursuant to the terms of the Sub-
Advisory Agreement.
Anthemis does not participate in a wrap fee program.
As of December 31, 2023, Anthemis managed approximately $582,805,192 in regulatory assets
under management on a non-discretionary basis with discretion being exercised by the Primary
Adviser. As of December 31, 2023 Anthemis manages approximately $25,961,322 in regulatory
assets under management on a discretionary basis.