Borealis Fund V - Veterinary Innovation, LP
Borealis Venture · adviser of record: Borealis Venture Management II, LLC · 2021 vintage
Borealis Fund V - Veterinary Innovation, LP is a 2021 venture fund managed by Borealis Venture, with $33.6mm raised (Form D, amount sold). It reported $20.7mm in gross assets at year-end 2025, 0.62x its size, its highest reported value.
- Latest value held
- $20.7mm year-end 2025
- Peak
- $20.7mm year-end 2025
- Fund size
- $33.6mm Form D, amount sold
- Held vs. size
- 0.62x peak 0.62x
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 | $20.7mm | 0.62x | +179% over 2 yrs |
| 2023 | $7.4mm | 0.22x | -24% |
| 2022 | $9.7mm | 0.29x | +96% |
| 2021 | $4.9mm | 0.15x | – |
Other funds from Borealis Venture
- Borealis Fund VI, LP 2022
- Vox Health Fund, LP 2017
- BV Opportunities - Design Innovation Fund, LP 2013
- Borealis Granite Fund, LP 2012
- The Borealis Fund II, LP 2011
- The Borealis Fund, LP 2011
- BV Opportunities Fund, LP 2011
- BV Opportunities Fund II, LP 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 805-7775178980. Data updated October 13, 2026.
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