Banyan Partners Fund II, L.P.
Gaorong Capital · adviser of record: Banyan Capital Partners LTD. · 2014 vintage
Banyan Partners Fund II, L.P. is a 2014 venture fund managed by Gaorong Capital, with $362mm raised (Form D, amount sold). It reported $2.1bn in gross assets at year-end 2025, 5.70x its size, against a peak of $17bn in 2020.
- Latest value held
- $2.1bn year-end 2025
- Peak
- $17bn year-end 2020
- Fund size
- $362mm Form D, amount sold
- Held vs. size
- 5.70x peak 45.89x
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 | $2.1bn | 5.70x | -72% over 2 yrs |
| 2023 | $7.3bn | 20.28x | +24% |
| 2022 | $5.9bn | 16.34x | -11% |
| 2021 | $6.7bn | 18.41x | -60% |
| 2020 | $17bn | 45.89x | +308% |
| 2019 | $4.1bn | 11.24x | +51% |
| 2018 | $2.7bn | 7.47x | +339% |
| 2017 | $616mm | 1.70x | +50% |
| 2016 | $411mm | 1.13x | +9% |
| 2015 | $377mm | 1.04x | +4% |
| 2014 | $362mm | 1.00x | – |
Other funds from Gaorong Capital
- Gaorong Partners Fund VI, L.P. 2022
- Gaorong Partners Fund V, L.P. 2020
- Gaorong Partners Fund IV, L.P. 2018
- Banyan Partners Fund III, L.P. 2017
- Banyan Partners CO-Invest 2015, L.P. 2015
- Banyan Partners Fund I, L.P. 2013
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 805-5930165635. Data updated October 13, 2026.
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