Activate Capital Partners, LP
Activate Capital · adviser of record: Activate Capital Management, LP · 2018 vintage
Activate Capital Partners, LP is a 2018 venture fund managed by Activate Capital, with $300mm raised (Form D, amount sold). It reported $115mm in gross assets at year-end 2025, 0.38x its size, against a peak of $283mm in 2021.
- Latest value held
- $115mm year-end 2025
- Peak
- $283mm year-end 2021
- Fund size
- $300mm Form D, amount sold
- Held vs. size
- 0.38x peak 0.94x
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 | $115mm | 0.38x | -31% over 2 yrs |
| 2023 | $166mm | 0.55x | -16% |
| 2022 | $197mm | 0.66x | -30% |
| 2021 | $283mm | 0.94x | +10% |
| 2020 | $258mm | 0.86x | +133% |
| 2019 | $110mm | 0.37x | – |
Other funds from Activate Capital
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 805-9610834086. Data updated October 13, 2026.
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