Black Fund
Kodiak Ventures · adviser of record: Kodiak Ventures Management Company, Inc · 2011 vintage
Black Fund is a 2011 venture fund managed by Kodiak Ventures, with $600k raised (Form D, amount sold). It reported $66.9mm in gross assets at year-end 2023, 111.46x its size, against a peak of $179mm in 2011.
- Latest value held
- $66.9mm year-end 2023
- Peak
- $179mm year-end 2011
- Fund size
- $600k Form D, amount sold
- Held vs. size
- 111.46x peak 298.60x
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 |
|---|---|---|---|
| 2023 | $66.9mm | 111.46x | -17% |
| 2022 | $81mm | 134.92x | -29% |
| 2021 | $114mm | 190.83x | +44% |
| 2020 | $79.5mm | 132.57x | +0% |
| 2019 | $79.5mm | 132.44x | -1% |
| 2018 | $79.9mm | 133.15x | -42% |
| 2017 | $138mm | 230.09x | -15% |
| 2016 | $163mm | 271.21x | +2% |
| 2015 | $160mm | 266.60x | +11% |
| 2014 | $144mm | 239.17x | +7% |
| 2013 | $134mm | 223.68x | -25% |
| 2012 | $178mm | 297.15x | -0% |
| 2011 | $179mm | 298.60x | – |
Other funds from Kodiak Ventures
- Blue Fund 2011
- Orange Fund 2011
- White Fund 2011
- Red Fund 2011
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 805-4712159458. Data updated October 13, 2026.
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