# Morningstar: portfolio, investments and team > Morningstar is a private equity based in United States. 12 investments on record, latest Oct 2025. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/morningstar (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # Morningstar Last cheque observed Oct 2025. Silence since then is not evidence of inactivity: our sources miss unannounced rounds. Email Quiet Private equity Pre-seed Seed Series A Social Telco Impact Follow Morningstar and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fmorningstar) Cheques on record **0%** of best year **0** **cheques in 12 months**, 12 on record Since the last cheque **376** days **00** hrs **00** min **00** sec Median round **$23M** Rounds led **0 of 12** Sole investor **1 rounds** Exits **3 from the portfolio** Mostly in **United States, 100%** Pitch Morningstar ## Morningstar highlights - 01 12 rounds on record - 02 Mostly Series A and Series B: 70% of its rounds - 03 Sole investor in 1 rounds, median $3.8M - 04 3 exits from the portfolio ## What they do - **Type:** Private equity (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Pre-seed Seed Series A Series B Growth - **Sectors:** Social Telco Impact - **Based in:** Chicago, United States - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **12 appearances** - **2025** 1 round - **Oct** **[Fanable](https://millionrounds.com/company/fanable)** Ventureburn **$12M** With 5 others - **2017** 1 round - **Sept** **[Ellevest](https://millionrounds.com/company/ellevest)** US · FinSMEs **$35M** With 10 others - **2015** 2 rounds - **Sept** **[Ellevest](https://millionrounds.com/company/ellevest)** Series A **$10M** With 4 others - **May** **[YCharts](https://millionrounds.com/company/ycharts)** Series C · US **$6.0M** With 6 others - **2013** 2 rounds - **May** **[YCharts](https://millionrounds.com/company/ycharts)** Series C · US · pevc.dowjones.com **$3.9M** With 1 other - **May** **[YCharts](https://millionrounds.com/company/ycharts)** Series B · US **$3.9M** With 4 others - **2012** 1 round - **Jan** **[HelloWallet](https://millionrounds.com/company/hellowallet)** Series B · US · finsmes.com **$12M** With 3 others - **2011** 2 rounds - **Nov** **[YCharts](https://millionrounds.com/company/ycharts)** Series A · US **$3.3M** With 2 others - **Nov** **[YCharts](https://millionrounds.com/company/ycharts)** Series B · US · techcrunch.com **$3.3M** With 2 others - **2009** 2 rounds - **Sept** **[PitchBook Data](https://millionrounds.com/company/pitchbook-data)** Series A · US · paidcontent.org **$3.8M** Sole investor - **Jun** **[Bundle](https://millionrounds.com/company/bundle)** Series A · US **Undisclosed** With 2 others - **2001** 1 round - **Nov** **[Gomez, Inc.](https://millionrounds.com/company/gomez-inc)** Venture · US · masshightech.com **$3.5M** With 2 others An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team Named by the firm itself, on a filing, its Form ADV or its company registration **4 named** BA **Brock Allan Johnson** Co-President, Morningstar Retirement i Form ADV DE **Daniel Edward Needham** Co-President, Morningstar Wealth i Form ADV DK **Daniel Kemp** Chief Research and Investment Officer i Form ADV SF **Sara Frances Kasun-Fretz** Chief Compliance Officer & Secretary i Form ADV We also hold **29** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. ## What the register says From the firm's own filings with the SEC, which it must file accurately by law - **Legal name:** Morningstar Investment Management LLC - **SEC number:** CRD 108031 ## Exits from the portfolio Companies it backed that were later bought or listed **3 in all** **[HelloWallet](https://millionrounds.com/company/hellowallet)** Bought by [Morningstar](https://millionrounds.com/fund/morningstar) **$5.3M** May 2014 **[Bundle](https://millionrounds.com/company/bundle)** Bought by [Capital One](https://millionrounds.com/fund/capital-one) **Undisclosed** Nov 2012 **[Gomez, Inc.](https://millionrounds.com/company/gomez-inc)** Bought by [Compuware](https://millionrounds.com/fund/compuware) **$295M** Oct 2009 An exit counts when it came after the firm's first round in the company. From historical deal records. ## Companies it bought Acquisitions by the firm itself **Total Rebalance Expert** **Undisclosed** Oct 2015 **[HelloWallet](https://millionrounds.com/company/hellowallet)** **$5.3M** May 2014 **[ByAllAccounts](https://millionrounds.com/company/byallaccounts)** **$28M** Apr 2014 **Morningstar Danmark** **$15M** Jul 2010 **Footnoted** **Undisclosed** Feb 2010 **Logical Information Machines** **$52M** Dec 2009 **Tenfore Systems** **$21M** Dec 2008 **10K Wizard** **Undisclosed** Dec 2008 **Fundamental Data Limited** **$19M** Oct 2008 **Financial Computer Support** **$4.9M** Aug 2008 **[mPower.com](https://millionrounds.com/company/mpower-com)** **Undisclosed** May 2003 ## The cheque Pre-seed Seed Series A Median round joined **$23M** the round, not its cheque Alone, median **$3.8M** Led 0 of 12 rounds **0%** - **Sole investor:** 1 rounds - **Last cheque:** Oct 2025 - **Exits:** 3 from the portfolio Rounds by stage said on their site - Series A said *4* - Series B said *3* - Series C *2* - Venture *1* - Pre-seed said *-* - Seed said *-* - Growth said *-* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [Hyde Park Angels](https://millionrounds.com/fund/hyde-park-angels) 4 - [Reed Elsevier Ventures](https://millionrounds.com/fund/reed-elsevier-ventures) 3 - [Amicus Capital](https://millionrounds.com/fund/amicus-capital-l-p) 2 - [RSVP Capital](https://millionrounds.com/fund/i2a-fund) 2 **Pitching Morningstar?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as Morningstar. A count of rooms they were both in, not a relationship either has claimed. [**Hyde Park Angels** Angel network **4** rounds together](https://millionrounds.com/fund/hyde-park-angels)[**Reed Elsevier Ventures** Growth equity **3** rounds together](https://millionrounds.com/fund/reed-elsevier-ventures)[**Amicus Capital** VC firm **2** rounds together](https://millionrounds.com/fund/amicus-capital-l-p)[**RSVP Capital** VC firm **2** rounds together](https://millionrounds.com/fund/i2a-fund) ## Recently backed The latest companies Morningstar put money into. [**Ellevest** $35M · Sept 2017](https://millionrounds.com/company/ellevest) ## Quick answers about Morningstar ### What does Morningstar invest in? Morningstar invests most often at Series A and Series B (70% of the rounds on record), in sectors such as Social, Telco and Impact. ### How active is Morningstar? 12 investments on record, 0 of them in the last 12 months. The most recent was in Oct 2025. ### What has Morningstar invested in recently? Its most recent investments on record: Fanable (Oct 2025) and Ellevest (Undisclosed round, Sept 2017). ### How big are Morningstar's cheques? The median round it joins is $23M. ### Does Morningstar lead rounds? Rarely, if at all: none of its 12 investments on record names it as the lead. ### Where does Morningstar invest? Most of the companies it backs are in the United States (100%). ### Is Morningstar investing now? No investments in the last 12 months; the latest was in Oct 2025. ### Who does Morningstar invest alongside? Most often Hyde Park Angels (4 rounds together), Reed Elsevier Ventures (3 rounds together) and Amicus Capital (2 rounds together). ## Raising now? 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