Next Legacy Management

Venture Capital SEC-registered adviser

Legal name: Next Legacy Management, LLC

Portola Valley, CA Website LinkedIn X

AUM

$4.4B
Regulatory AUM

Private funds

47
Venture Capital 47

Private fund assets

$4.5B
Gross asset value

Employees

26

Last Form D raise

Dec 2025
Most recent fund filing

From SEC Form ADV filing (filed Mar 31, 2026). View on SEC

People(3)

Owners and executive officers named on the firm's SEC Form ADV.

B
Ben Choi
Managing Member
Source: SEC Form ADV
K
Kelli Cullinane
Managing Member, CCO, and CFO
Source: SEC Form ADV
R
Ryan Nece
Trustee of the Nece Family Trust, Nece Family Trust
Source: SEC Form ADV

Funds(46)

Private funds reported on Form ADV, with amounts raised from the funds' SEC Form D filings.

FundTypeGross assetsRaised (Form D)InvestorsLast Form DRecency
Nlp AI, LPVenture Capital$10.3M$10.3M23Dec 2025Warm
Next Legacy Unrivaled, LPVenture Capital$1.3M$1.4M9Aug 2025Cool
Next Legacy Lioness, LPVenture Capital$9.6M——Jul 2025Cool
Next Legacy Emerging Leaders 2, LPVenture Capital$42.5M——Apr 2025Cool
Next Legacy Alpha 4, LPVenture Capital$63.4M——Dec 2024Cool
Next Legacy XII, LLCVenture Capital$421.7M——Dec 2024Cool
Next Legacy Emerging Leaders 1, L.P.Venture Capital$49.3M$33.2M24Nov 2023Cold
Legacy Venture XI, LLCVenture Capital$500.4M——Jun 2022Cold
Next Play Sjpf, LPVenture Capital$9.4M——Jun 2022Cold
Next Play Capital III Q, L.P.Venture Capital$203.4M$172.4M314Apr 2022Cold
Npc Babylist, LLCVenture Capital$1.9M$1.5M10Nov 2021Cold
Npc Lime II, LLCVenture Capital$5.7M$4.7M33Oct 2021Cold
Npc Vb, LLCVenture Capital$1.2M$6.2M21Sep 2021Cold
Npc Guild II, LLCVenture Capital$17.8M$17.2M21Jun 2021Cold
Npc Keep Truckin, LLCVenture Capital$2.3M$2.4M9May 2021Cold

Board seats

Companies whose SEC Form D filings name one of this firm's people as a director, matched by name and office ZIP code.

No board seats matched from SEC filings yet.

Regulatory identifiers

CRD number
156640
SEC file number
801-73561

Sources