AH Bio Fund II, L.P.
Andreessen Horowitz · adviser of record: AH Capital Management, L.L.C. · 2017 vintage
AH Bio Fund II, L.P. is a 2017 venture fund managed by Andreessen Horowitz, with $450mm raised (Form D, amount sold). It reported $798mm in gross assets at year-end 2025, 1.77x its size, against a peak of $1.27bn in 2021.
- Latest value held
- $798mm year-end 2025
- Peak
- $1.27bn year-end 2021
- Fund size
- $450mm Form D, amount sold
- Held vs. size
- 1.77x peak 2.83x
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 | $798mm | 1.77x | -17% over 2 yrs |
| 2023 | $966mm | 2.15x | -6% |
| 2022 | $1.03bn | 2.29x | -19% |
| 2021 | $1.27bn | 2.83x | +68% |
| 2020 | $756mm | 1.68x | +63% |
| 2019 | $464mm | 1.03x | +2% |
| 2018 | $456mm | 1.01x | +0% |
| 2017 | $455mm | 1.01x | – |
Other funds from Andreessen Horowitz
- AH Stah, L.P. 2023
- RESW1, L.P. 2023
- Andreessen Horowitz Fund VIII, L.P. 2022
- AH Bio Fund IV, L.P. 2022
- AH 2022 Annual Fund, L.P. 2022
- AH Games Fund I, L.P. 2022
- CLF Partners III, LP 2022
- AH 2022 Annual Fund-B, L.P. 2022
- AH 2022 Annual Fund-QC, L.P. 2022
- Andreessen Horowitz LSV Fund III, L.P. 2021
- Andreessen Horowitz Seed Fund I, L.P. 2021
- Andreessen Horowitz Seed Fund I-Q, L.P. 2021
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 805-9778872044. Data updated October 13, 2026.
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