Resume help - Multiple positions with same group?

After graduating, I worked with the same group of people at 3 different (related companies). The first was a VC, the second was an technology incubator (the VC was the sole investor in it), and the third was a startup launched based on research done at the tech incubator. During my 2nd job at the incubator, the group launched a new company with a VC/PE model who was the sole investor in my 3rd company (startup that was launched).

I was with the group for a total of about 5 years and I would like to avoid giving the impression on my resume that I have been job hopping every year or so.

I can’t really find any similar situation online to see how the resume would be structured in this instance, however, I’m thinking of listing the VC/PE as the main company, then have 3 roles (with company names) under this main company:

1) Thoughts? Given that my contract was never with the main VC/PE firm?

2) Should there be some sort of small description under the main VC/PE firm section stating that I held different positions with the same group or simply mentioning the Role + Company name is the subsections should be sufficient?

I’m thinking of listing the VC/PE name and underneath it adding something along those lines:

“XXX is a multi-stage private equity firm focused on […] Over a period of 5 years, I worked with XXX’s portfolio companies listed below:”

Thoughts?