Azolla Ventures Full-Cycle Fund I, LP
Azolla · adviser of record: Azolla Management Company, LP · 2020 vintage
Azolla Ventures Full-Cycle Fund I, LP is a 2020 venture fund managed by Azolla, with $130mm raised (Form D, amount sold). It reported $142mm in gross assets at year-end 2025, 1.09x its size, against a peak of $151mm in 2023.
- Latest value held
- $142mm year-end 2025
- Peak
- $151mm year-end 2023
- Fund size
- $130mm Form D, amount sold
- Held vs. size
- 1.09x peak 1.16x
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 | $142mm | 1.09x | -6% over 2 yrs |
| 2023 | $151mm | 1.16x | +17% |
| 2022 | $129mm | 0.99x | +63% |
| 2021 | $78.8mm | 0.61x | +23% |
| 2020 | $64.3mm | 0.49x | – |
Other funds from Azolla
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 805-1568312070. Data updated October 13, 2026.
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