Carbon Direct Fund II LP
Carbon Direct Capital · adviser of record: Carbon Direct Capital Management LLC · 2022 vintage
Carbon Direct Fund II LP is a 2022 venture fund managed by Carbon Direct Capital, with $321mm raised (Form D, amount sold). It reported $289mm in gross assets at year-end 2025, 0.90x its size, against a peak of $400mm in 2023.
- Latest value held
- $289mm year-end 2025
- Peak
- $400mm year-end 2023
- Fund size
- $321mm Form D, amount sold
- Held vs. size
- 0.90x peak 1.24x
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 | $289mm | 0.90x | -28% over 2 yrs |
| 2023 | $400mm | 1.24x | +36% |
| 2022 | $294mm | 0.92x | – |
Other funds from Carbon Direct Capital
All Carbon Direct Capital funds
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 805-7278562561. Data updated October 13, 2026.
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