Human Capital Investment Management Llc
SEC-registered
Private Fund Manager · Mid-sized ($1B–$10B)
CRD 296844
· SEC file 801-119165
· San Francisco, CA
· human.capital
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ADV data as of May 15, 2026
- Regulatory AUM
- $4.4B
- Discretionary
- $4.4B
- Clients
- 52
- Avg AUM / client
- $84.2M
- Accounts
- 52
- Employees
- 39
AUM over time
$220M
$4.4B
Jun 2020
May 2026
Annual snapshots from Form ADV filings · as of May 15, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 52 | $4.4B | 100.0% |
Private funds (30)
View all →Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $2.1B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Hcm V, L.P. | Venture Capital Fund | Delaware | $478M | 193 |
| Hcm Iv, L.P. | Venture Capital Fund | Delaware | $324M | 135 |
| Hc S3 A Lp | Venture Capital Fund | Delaware | $244M | 3 |
| Ntv Ii, L.P. | Venture Capital Fund | Delaware | $175M | 78 |
| Hcm S3 B Lp | Venture Capital Fund | Delaware | $109M | 32 |
| Nav Capital S2 A Lp | Venture Capital Fund | Delaware | $91.3M | 21 |
| Hcm S3 C Lp | Venture Capital Fund | Delaware | $90.1M | 34 |
| Human Capital S2 B Lp | Venture Capital Fund | Delaware | $85.7M | 3 |
| Tcm Ii, L.P. | Venture Capital Fund | Delaware | $60.7M | 24 |
| Nav Capital S1 A Lp | Venture Capital Fund | Delaware | $48.3M | 33 |
| Hcm S9 A Lp master | Venture Capital Fund | Delaware | $46.7M | 76 |
| Human Capital S2 D Lp | Venture Capital Fund | Delaware | $45.5M | 2 |
| Hcm S11 A Lp | Venture Capital Fund | Delaware | $35.0M | 10 |
| Nav Capital S1 D Lp | Venture Capital Fund | Delaware | $30.3M | 2 |
| Human Capital S2 C Lp | Venture Capital Fund | Delaware | $27.8M | 4 |
People (5)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Ali, Armaan, Ibrahim | Managing Member/Chief Executive Officer | Jun 2017 (9y) | 50% – 75% | |
| Akis, Ali, Baris | President | Oct 2019 (7y) | 25% – 50% | |
| Hira, Ashwin, S | Chief Business Officer | Jun 2020 (6y) | Less than 5% | |
| Hassanabadi, Amir | General Counsel/Chief Compliance Officer | Apr 2021 (5y) | Less than 5% | |
| Baaden, James, Irving | Chief Operating Officer | May 2021 (5y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Human Capital Imb, Inc. | Non Managing Member | Nov 2019 | A | 10% – 25% |
| Human Capital Holdings Llc | Shareholder | Nov 2019 | B | ≈ 7.5% – 25% via Human Capital Imb, Inc. |
| Ba Revocable Trust | Member | Mar 2022 | B | ≈ 1.41% – 12.5% via Bahc Holdings Llc |
| Aahc Holdings, Llc | Managing Member | Oct 2021 | B | ≈ 1.88% – 12.5% via Human Capital Holdings Llc |
| Bahc Holdings Llc | Managing Member | Feb 2022 | B | ≈ 1.88% – 12.5% via Human Capital Holdings Llc |
| Aa Revocable Trust | Member | Mar 2022 | B | ≈ 0.47% – 6.25% via Aahc Holdings, Llc |
Undisclosed: 0% – 15% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Human Capital Holdings Llc: 75% – 100% of Human Capital Imb, Inc. × 10% – 25% direct ≈ 7.5% – 25% of the firm
- Ba Revocable Trust: 75% – 100% of Bahc Holdings Llc × 25% – 50% of Human Capital Holdings Llc × 75% – 100% of Human Capital Imb, Inc. × 10% – 25% direct ≈ 1.41% – 12.5% of the firm
- Aahc Holdings, Llc: 25% – 50% of Human Capital Holdings Llc × 75% – 100% of Human Capital Imb, Inc. × 10% – 25% direct ≈ 1.88% – 12.5% of the firm
- Bahc Holdings Llc: 25% – 50% of Human Capital Holdings Llc × 75% – 100% of Human Capital Imb, Inc. × 10% – 25% direct ≈ 1.88% – 12.5% of the firm
- Aa Revocable Trust: 25% – 50% of Aahc Holdings, Llc × 25% – 50% of Human Capital Holdings Llc × 75% – 100% of Human Capital Imb, Inc. × 10% – 25% direct ≈ 0.47% – 6.25% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (30, $2.1B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Hcm V, L.P. | Venture Capital Fund | $478M | $0 | 193 |
| Hcm Iv, L.P. | Venture Capital Fund | $324M | $0 | 135 |
| Hc S3 A Lp | Venture Capital Fund | $244M | $0 | 3 |
| Ntv Ii, L.P. | Venture Capital Fund | $175M | $300K | 78 |
| Hcm S3 B Lp | Venture Capital Fund | $109M | $0 | 32 |
| Nav Capital S2 A Lp | Venture Capital Fund | $91.3M | $50.0K | 21 |
| Hcm S3 C Lp | Venture Capital Fund | $90.1M | $0 | 34 |
| Human Capital S2 B Lp | Venture Capital Fund | $85.7M | $0 | 3 |
| Tcm Ii, L.P. | Venture Capital Fund | $60.7M | $250K | 24 |
| Nav Capital S1 A Lp | Venture Capital Fund | $48.3M | $50.0K | 33 |
| Hcm S9 A Lp | Venture Capital Fund | $46.7M | $0 | 76 |
| Human Capital S2 D Lp | Venture Capital Fund | $45.5M | $0 | 2 |
| Hcm S11 A Lp | Venture Capital Fund | $35.0M | $0 | 10 |
| Nav Capital S1 D Lp | Venture Capital Fund | $30.3M | $1.0M | 2 |
| Human Capital S2 C Lp | Venture Capital Fund | $27.8M | $0 | 4 |
| Hcm S7 A Lp | Venture Capital Fund | $26.1M | $0 | 21 |
| Hcm I, L.P. | Venture Capital Fund | $22.3M | $25.0K | 61 |
| Nav Capital S1 B Lp | Venture Capital Fund | $21.6M | $1.0M | 2 |
| Nav Capital S1 E Lp | Venture Capital Fund | $21.0M | $1.0M | 68 |
| Hcm S8 A Lp | Venture Capital Fund | $20.0M | $0 | 24 |
| Hcm S7 B Lp | Venture Capital Fund | $18.7M | $0 | 23 |
| Hcm Web3 I, L.P. | Venture Capital Fund | $15.3M | $0 | 141 |
| Nav Capital S1 C Lp | Venture Capital Fund | $9.2M | $1.0M | 3 |
| Hcm S1 F Lp | Venture Capital Fund | $5.9M | $0 | 2 |
| Hcm S14 A Lp | Venture Capital Fund | $5.0M | $0 | 3 |
Top 25 of 30 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 05/15/2026 | 10.2 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports it does not have custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: May 15, 2026.
View current Form ADV (SEC/IAPD) ↗