Venture fund · from SEC filings

3L Capital I, LP

3L Capital · adviser of record: 3L Capital Management, LLC · 2017 vintage

3L Capital I, LP is a 2017 venture fund managed by 3L Capital, with $212mm raised (Form D, amount sold). It reported $216mm in gross assets at year-end 2025, 1.02x its size, against a peak of $396mm in 2021.

Latest value held: $216mm year-end 2025
Peak: $396mm year-end 2021
Fund size: $212mm Form D, amount sold
Held vs. size: 1.02x peak 1.87x

Value held by year-end

Gross asset value reported on Form ADV at each year-end. Dashed line: fund size. Open in the Fund Tracker

Year-end	Gross assets	÷ size	Change
2025	$216mm	1.02x	-16% over 2 yrs
2023	$257mm	1.22x	-21%
2022	$326mm	1.54x	-18%
2021	$396mm	1.87x	+51%
2020	$262mm	1.24x	+45%
2019	$181mm	0.85x	+25%
2018	$145mm	0.68x	+69%
2017	$85.6mm	0.40x	–

What registered funds report

Holder	As of	Value of stake	Value ÷ cost
NB Crossroads Private Markets Fund V Holdings LP	2026-06-30	$6.4mm	1.41x

From SEC Form N-PORT, filed by mutual funds and other registered funds that hold an interest in this fund.

Other funds from 3L Capital

All 3L Capital funds

About these numbers

Gross asset value is what the manager reports holding in the fund at each fiscal year-end, on SEC Form ADV, Schedule D. It includes the GP’s own commitment and is before carried interest, so it is not the LPs’ net return, and it does not show cash already distributed. A fall in value can mean distributions, markdowns or both. Fund size is the amount sold reported on Form D, which for some funds reflects only a first close. Private fund ID 805-8788852949. Data updated October 13, 2026.

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