Bond III, LP
BOND · adviser of record: Bond Capital Management, LP · 2022 vintage
Bond III, LP is a 2022 venture fund managed by BOND, with $2.5bn raised (Form D, amount sold). It reported $3.3bn in gross assets at year-end 2025, 1.31x its size, its highest reported value.
- Latest value held
- $3.3bn year-end 2025
- Peak
- $3.3bn year-end 2025
- Fund size
- $2.5bn Form D, amount sold
- Held vs. size
- 1.31x peak 1.31x
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 | $3.3bn | 1.31x | +40% over 2 yrs |
| 2023 | $2.3bn | 0.93x | -1% |
| 2022 | $2.4bn | 0.94x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| CalPERS | 2026-03-31 | $75mm | 0.00x | 1.45x | 1.45x |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
What registered funds report
| Holder | As of | Value of stake | Value ÷ cost |
|---|---|---|---|
| Hamilton Lane Venture Capital & Growth Fund | 2026-06-30 | $1.6mm | 1.68x |
From SEC Form N-PORT, filed by mutual funds and other registered funds that hold an interest in this fund.
Other funds from BOND
- Bond III Founders Fund, LP 2022
- Bond II, LP 2021
- Bond II Founders Fund, LP 2021
- Bond Capital Founders Fund, LP 2019
- Bond Capital Fund, LP 2018
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 805-1746286006. Data updated October 13, 2026.
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