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On Friday afternoon, Sand Hill Road venture capital firm submitted paperwork to the SEC disclosing its .

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If fully-raised, Trinity Ventures XIII will be the smallest venture fund raised by the early-stage investor in decades. In November 2015, closed out with $400 million under management. The last fund smaller than the $250 million targeted by Fund XIII was the $148 million Trinity Ventures secured all the way .

What鈥檚 notable, though, is the disconnect between prior reports from the Wall Street Journal and the filing made today. In February, the from an unnamed source that Trinity Ventures was targeting 鈥渂etween $350 million and $400 million for its new fund.鈥� The source also said that a number of the firm鈥檚 established partners will not be party to Fund XIII.

Those changes were confirmed by this afternoon鈥檚 SEC filing. In the table below, we show the names listed under the 鈥淩elated Persons鈥� section of the Form D filings for and . We highlighted in red the names of people who are not included on the GP roster for Fund XII and highlighted in green the names of new general partners added to the firm since 2015.

Fund XIII will be managed by five general partners, according to the filing. These GPs include:

• , a general partner at Trinity Ventures since 1999. She has represented the firm on and on . Before her time in venture, Nakache spent nine years at McKinsey. In addition to her startup directorships, Nakache serves on the board of the and is a founding member of , a nonprofit advocating for diversity, inclusion, and more funding for women in entrepreneurship and venture.
• , a general partner at Trinity Ventures since 2006. Before getting into venture, Chopra co-founded and led 鈥攁n early leader in digital video hardware and software鈥攁s its CEO from 1989 to 2005. in 2005 for $462 million.
• , a financial professional who鈥檚 been with Trinity Ventures since 2013. Labatt was previously the CFO and 鈥淎dministrative Partner鈥� at the firm until July 2018, when she became chief operating officer and GP at the firm. Her prior experience includes serving as managing director of private equity services at and in CFO roles at nearly a half dozen other venture firms.
• , a long-time partner at Trinity Ventures who previously worked at and , among other prior experience. Crunchbase data indicates since at least 2011.
• , previously founder of (acquired by Envestnet) and (acquired by Mastercard), who, according to Crunchbase data, has been , following a stint as an entrepreneur in residence at . Prior to joining Trinity as a general partner, Satyavolu was an executive vice president of product and technology at .

Typically, in VC, general partners from the last fund who aren鈥檛 included on the most recent fund are obliged to continue their portfolio company directorships and advisory work as representatives of the firm to be included on management fee and carried interest distributions.

The firm seems to have long-term plans in place to continue investing in early-stage deals. On Thursday, the firm it promoted from associate to principal, which is typically a partner-track role.

Additionally, the firm brought in as an executive in residence. Coca was a founding member of and co-founded their enterprise software practice.1 , formerly an executive at and LifeLock, and one-time entrepreneur in residence at Trinity Ventures, joined the firm as an operating partner, according to the announcement.

At this time, the filing says the firm hasn鈥檛 received its first capital commitment for the new investment vehicle, but it鈥檚 not uncommon for firms to file Form Ds right before calling down capital from limited partners who鈥檝e previously made 鈥渟oft commits.鈥� (It鈥檚 the difference between 鈥淚鈥檒l send you a check鈥� and 鈥淐heck is in the mail.鈥�) Trinity Ventures is raising private capital under Rule 506(b) of Regulation D, which specifies that a Form D must be filed within 15 days of the date of first sale.

Crunchbase News reached out to Trinity Ventures for comment but did not receive a reply in time for publication. This article will be updated if we hear back from them.

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