Marathon Management Partners

Marathon Management Partners LLC is a Delaware limited liability company formed in 2024; Gokul Rajaram and another partner are its principal owners and jointly control the company, and according to Schedule A of its Form ADV both have been managing members since July 2024. The company and its affiliated general partners and managing members operate as a single investment advisory business, collectively referred to as “Marathon.” Its first fund, Marathon Management Partners Fund I, LP, was likewise organized in Delaware in 2024.⁠[1][1][2][1][3][3]

On April 24, 2025, Marathon Management Partners Fund I, LP filed a Form D with the U.S. Securities and Exchange Commission for a private offering exempt from registration under Rule 506(b) of Regulation D, with the fund relying on the Section 3(c)(7) exemption of the Investment Company Act, seeking to raise $400 million, with no sales yet made; Gokul Rajaram was listed as an executive officer in his capacity as managing member of the fund’s general partner and signed the filing.⁠[3][3][3][3][3][3]

According to the 2026 amended filing, Fund I made its first sale of fund interests on April 25, 2025.⁠[4]

On April 23, 2026, Fund I filed an amended Form D/A: the total offering amount was revised to $250 million, of which $205.935 million had been sold and $44.065 million remained, with 143 investors, all accredited; the fund’s address changed from Cupertino, California, to Beverly HillsBeverly HillsBeverly Hills is an incorporated city in Los Angeles County, California, known for its film-industry residents, Rodeo Drive shopping district and hotels. Incorporated on January 28, 1914, it covers about 5.71 square miles and recorded 32,701 residents in the 2020 census. It operates under a council–manager system. The Metro D Line extension reached Wilshire/La Cienega in May 2026.Open the full entry.⁠[4][4][4][3][4]

On June 29, 2026, Marathon Management Partners LLC filed Form ADV to register with the U.S. Securities and Exchange Commission as an investment adviser, on the same day withdrawing its earlier federal and California exempt reporting adviser status, and filed its first Form ADV Part 2A brochure. The registration was approved effective August 5, 2026, and the firm also completed a notice filing with California. IAPD records list MGR Capital Management LLC as another name of the firm.⁠[2][5][1][5][5][5]

According to Form ADV, as of March 31, 2026, the firm managed about $340 million in regulatory assets on a discretionary basis across four accounts: Fund I with a gross asset value of about $140.3 million, plus Marathon M2 LLC (about $5.56 million), Marathon M3 LLC ($0 at the time of filing) and the special purpose vehicle MGR-Cloudwalk LLC (about $47.39 million). The firm has six employees, five of whom perform investment advisory functions.⁠[1][2][2][2][2][2][2][2][2][2]

Marathon describes itself as a private equity and venture capital firm focused on significant minority investments in growth-stage technology companies in the United States; its investments typically combine primary and secondary proceeds, and it generally invests only where it has board representation and can exert operating and strategic influence on portfolio companies. It says it partners with founders who are “obsessed with defining their categories,” and lists New York, Menlo Park and Los Angeles.⁠[1][1][1][6][6]

According to its brochure, funds generally pay a management fee of 2.5% of capital commitments per year during the investment period; carried interest is 20% of profits, rising to 30% once limited partners have been allocated net income of at least 200% of their contributions, with no preferred return or hurdle rate, and the carried interest is subject to clawback. Fund investors are expected to include individuals, banks, university endowments, sovereign wealth funds, family offices and pension plans.⁠[1][1][1][1][1]

Marathon Management Partners: Official website: https://marathonmp.com/ (opens in a new window).⁠[2]

LinkedInLinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry: Public profile: https://www.linkedin.com/company/marathon-management-partners/ (opens in a new window)⁠[2]