MARS · Coverage Map

Investor Profile

Comparing what a PitchBook investor page shows against what MARS's substrate already carries — and, for the gaps, which free data sources we could parse to close them. Anchored to D1 Capital Partners as the working example.

A PitchBook "Investor Overview" page publishes 4 free sections and locks 11 behind a paywall. On inspection: 8 of those 11 locked sections are derivable from the substrate MARS already has, or from free public data we're not yet parsing. Only three (Fund Performance, Limited Partners, some Service-Provider deep data) require the standalone lp_data vertical to be spun up. The others range from view-only surfaces we can ship in an afternoon to mini-projects that pay for themselves across the whole investor universe once the extractor learns the field.

Green — surface it

Data is in substrate; needs a view or MCP tool.

Yellow — small backfill

One extractor or Grok-web pass unlocks the class.

Orange — mini-project

Free source parseable; needs schema + ingest.

Red — separate vertical

Belongs in the lp_data vertical.

Green — Already in substrate, needs a view 6 items

These sections are answerable from funding_deals_v2, deal_investors_v2, merger_deals_v2, companies_v2, article_meta_v2 and their bridges. No new ingest; the D1 report shipped earlier tonight demonstrates several of them.

PitchBook section	Our coverage	Source / How	Effort
Investments (list) D1: PB 256 · MARS 24	have	Substrate join `funding_deals_v2 × deal_investors_v2`. Depth gap (2020+ mostly for hedge funds) is a ingest-scope issue, not a data-shape issue.	already
Portfolio (companies) D1: PB 81 · MARS 12	have	Distinct join Distinct `company_id` from the Investments query. Gap tracks investments gap.	already
Co-Investors Who they travel with	have	Same-deal join Self-join on `deal_investors_v2`. Ordered by `COUNT(shared_deal)`. Ready for the D1 report already.	2 h MCP surface
Related News News across portfolio	have	article_meta_v2 join Join `article_meta_v2` where `company_id ∈ portfolio`. 2.4M articles with FTS index; sub-100ms.	2 h
Investments Analytics Totals · avg check · by year	have	Aggregates on funding_deals_v2 `SUM · AVG · PERCENTILE_CONT · GROUP BY year`. Shipped in the D1 report earlier tonight.	1 h
Investment Preferences Sector · stage · geo focus	have	Derive from portfolio Aggregate `companies_v2.sector`, `funding_subcategory`, `country` weighted by check size. Emergent, not self-reported.	1 h

Yellow — Small backfill or extractor addition 5 items

Each of these is a one-time ingest job (typically a Grok-web pass on the top ~500 firms) that populates a substrate we already have room for. Cost per class: $40–$100 and 2–8 hours of engineering.

PitchBook section	Our coverage	Source / How	Effort
Business Details Website · founded_year · address	columns exist, NULL	SEC 13F filings Free, direct download from EDGAR. Every US hedge fund files quarterly with the firm's registered address on the cover. Adrian's ingest could stream this. State corp registries NY Dept of State (D1 is NY) publishes founded date + registered agent + address. Free API. Firm websites Trivial scrape for the top ~500 firms not covered above. mars_spider is idle. Grok-web fallback $0.08 × ~500 firms = ~$40 to backfill the tail.	1 day $40 total
Investor Status Actively Seeking / Winding Down	derivable	Deal cadence Deals in trailing 90d → Actively Seeking. Zero deals in 12mo → Wound Down. Deterministic; no ingest. SEC 13F filing status If a firm stops filing 13F, they're closing / going private / being acquired. Free signal.	2 h
Exits 45 for D1 in PB	data exists, no view	Existing substrate join Join `merger_deals_v2` where target ∈ portfolio (M&A exits) + `funding_deals_v2` where round_type = 'IPO' & company ∈ portfolio (IPO exits). We have all the data — just need the exits view.	3 h
Lead Partners on Deals Which person led the check	partial via officers	deal_officers_v2 Already exists at person-level. Grok extractor already asks for officers. Press-release prompt tweak Add "lead vs participant" distinction to funding extractor. Backfill on top 500 firms' deals.	half day Prompt + backfill
Service Providers Law firms · advisors on funding	on M&A only	Extend merger_advisors_v2 pattern Same schema shape → `funding_advisors_v2`. Funding extractor prompt update + article-level re-run on top-tier deals. SEC Form D Free source; discloses broker-dealer/placement agent per issuer. Already ingested; underused.	1 day

Orange — Mini-project, free data available 1 item

PitchBook section	Our coverage	Source / How	Effort
Affiliates / Parent-Sub D1 has one entity; big VCs have families	schema exists, unpopulated for hedge funds	SEC Form ADV Part 1A For RIAs: schedule R discloses control-affiliates. Free EDGAR download. Already in adv-brochures-v3 pipeline (bios vertical touches it). SEC 13F filer identity CIK's control history reveals parent changes. Free. State registrar of secretaries DE (Delaware) discloses corporate parent on formation docs. Free bulk data via ICIS. Inferno cluster on names We've done this 3 times (companies / persons / investor families). Same pattern: Qwen on name variants + verify against strong-ID signal.	3–5 days $20–50 Inferno

Red — Separate vertical (lp_data) 3 items

These sections require systematically ingesting fund-of-fund disclosures. Scoped as the lp_data vertical which is scaffolded and awaiting an owner. All source data is free and public.

PitchBook section	Our coverage	Source / How	Effort
Fund Performance IRR · DPI · TVPI · vintage	not yet	US public pension quarterly reports CalPERS, CalSTRS, NYCERS, TRS-IL, Texas TRS, PSERS-PA all publish per-fund IRR/DPI/TVPI by vintage. Free PDF/XBRL. Systematic parseable. Sovereign wealth annual reports Norway GPFG, Temasek, GIC, ADIA disclose top holdings + returns. Free. DFI disclosures IFC, EBRD, ADB, EIB publish fund-level returns for their commitments. Free XLSX. ILPA Institutional Investor Council data Semi-open standard reporting; some subscribers publish extracts.	lp_data 30–40% coverage target
Limited Partners Who's in each fund	not yet	US public pension board memoranda Investment committee minutes list new fund commitments. Every state pension publishes these; free FOIA-open. US state SIC reports State Investment Council reports (NJ, WI, OK, etc.) publish commitment history. UK LGPS quarterly returns UK Local Government Pension Scheme reports commitments per pool. Free. Endowment Form 990 US 501(c)(3) endowments file 990 with fund positions where >5% of AUM. Free from IRS.	lp_data
Data Transparency / FAQs Product content, not data	not applicable	Editorial layer These sections are UX/product content, not data. Belongs in the consumer-facing surface, not the substrate.	skip

Take

PitchBook's paywall implies data scarcity. In practice, most of what's locked is either already in our substrate (6 items) or one small ingest job away (5 items). The three sections that are genuinely a separate build — fund performance, LPs, and data-transparency editorial — all have free public sources. Whether we go after them is a product-scope choice, not a data-availability one.

Per MARS's MCP-first product doctrine, the deliverable isn't a D1-Capital-shaped web dashboard. It's a set of MCP tools — mars_investor_profile, mars_investor_portfolio, mars_investor_co_investors — that let an AI-native consumer compose an investor snapshot on demand. The green + yellow sections above cover 11 of PitchBook's 15 sections; the AI does the composition.

Next steps if we act on this

Three concrete filings would move most of the ball: (1) Grok-web pass on top 500 non-ADV investors to populate investors_v2.website + founded_year + country · $40 · 1 day. (2) Exits view joining merger_deals_v2 + IPO-shape funding_deals_v2 against portfolio companies · 3 h. (3) Investor MCP tool spec compositing the green + yellow sections into a single tool consumer can invoke by investor slug · 1 day.

Generated 2026-07-17 · Anchor case: D1 Capital Partners · Sources: mars.funding_deals_v2 · deal_investors_v2 · investors_v2 · Design system: MARS report tokens v1