SCHEDULE: Capital V LLC Discloses 62.3% Stake in Viant Technology

Capital V LLC has filed a Schedule 13G, reporting beneficial ownership of 62.3% of Viant Technology Inc.'s Class A common stock, including redeemable Class B Units.

Summary

• Capital V LLC reported beneficial ownership of 27,509,326 shares of Viant Technology Inc.'s Class A common stock.
• This ownership represents 62.3% of the Class A common stock outstanding.
• The calculation is based on 16,678,890 shares of Class A Common Stock outstanding as of November 7, 2025, as disclosed in the Issuer's Quarterly Report on Form 10-Q.
• The reported shares include 27,509,326 Class B Units of Viant Technology LLC held by Capital V LLC, which are redeemable for Class A Common Stock on a one-to-one basis.
• Capital V LLC, Christopher Vanderhook, and Timothy Vanderhook acknowledge acting as a 'group' beneficially owning an aggregate of 44,841,718 shares, or 73.3% of the Class A Common Stock.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of significant beneficial ownership. The high insider ownership (62.3% by Capital V LLC and 73.3% by the group) can be viewed positively as it aligns management interests with shareholders, but also carries potential risks related to minority shareholder influence.

Positives

• Significant insider ownership (62.3% by Capital V LLC and 73.3% by the group including the Vanderhooks) indicates strong alignment of interests between key stakeholders and shareholders.

Risks

• Concentrated ownership by a single entity (Capital V LLC) and a group (Vanderhooks) could lead to potential governance issues where the interests of minority shareholders might be overridden due to the substantial voting power.

Future Outlook

NA

Management Comments

• "The Reporting Person acknowledges and agrees that it is acting as a 'group' with Christopher Vanderhook and Timothy Vanderhook within the meaning of Section 13(d) of the Securities Exchange Act of 1934, as amended (the 'Exchange Act')."

Industry Context

This filing is a standard regulatory disclosure of significant ownership. It doesn't provide industry-specific context beyond identifying Viant Technology Inc. as the issuer. The high insider ownership is common in companies where founders retain significant control post-IPO.

Comparison to Industry Standards

• The beneficial ownership of 62.3% by Capital V LLC and 73.3% by the group (including the Vanderhooks) represents a very high level of insider control, significantly above the average for publicly traded companies. This level of control is more typical of founder-led companies or those with dual-class share structures, indicating strong founder influence over corporate strategy and governance.

Corporate Governance

Related Party Transactions

• The beneficial ownership includes Class B Units held by Capital V LLC, which are redeemable for Class A Common Stock. This structure is often a legacy of pre-IPO arrangements involving founders/insiders.
• The acknowledgment of a 'group' with Christopher Vanderhook and Timothy Vanderhook (likely founders/executives) indicates a related party relationship in terms of control over the issuer.

Stakeholder Impact

• Shareholders: High insider ownership provides stability and alignment but could limit the influence of other shareholders on corporate decisions.
• Management: The Vanderhooks, through Capital V LLC and their group, maintain significant control over the company's direction and strategic initiatives.

Next Steps

• Capital V LLC may redeem its 27,509,326 Class B Units for Class A Common Stock on a one-to-one basis at any time.

Key Dates

Keywords

Viant Technology, Capital V LLC, Schedule 13G, Beneficial Ownership, Class A Common Stock, Class B Units, SEC Filing, Shareholder Stake, Vanderhook