645 Ventures III, L.P.
645 Ventures · adviser of record: 645 Ventures Management, LLC · 2020 vintage
645 Ventures III, L.P. is a 2020 venture fund managed by 645 Ventures, with $160mm raised (Form D, amount sold). It reported $166mm in gross assets at year-end 2025, 1.04x its size, its highest reported value.
- Latest value held
- $166mm year-end 2025
- Peak
- $166mm year-end 2025
- Fund size
- $160mm Form D, amount sold
- Held vs. size
- 1.04x peak 1.04x
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 | $166mm | 1.04x | +7% over 2 yrs |
| 2023 | $156mm | 0.97x | -6% |
| 2022 | $166mm | 1.03x | +7% |
| 2021 | $155mm | 0.97x | -4% |
| 2020 | $162mm | 1.01x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| LAFPP | 2025-12-31 | $10mm | 0.00x | 1.03x | 1.03x |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
Other funds from 645 Ventures
- 645 Ventures IV, L.P. 2022
- 645 Ventures Select I, L.P. 2022
- 645 Ventures II, L.P. 2017
- 645 Ventures, L.P. 2014
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 805-2639252604. Data updated October 13, 2026.
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