Cobalt Tonal SPV I L.P.
Cobalt Capital · adviser of record: Cobalt Investment Management LLC · 2021 vintage
Cobalt Tonal SPV I L.P. is a 2021 venture fund managed by Cobalt Capital, with $56mm raised (Form D, amount sold). It reported $32.1mm in gross assets at year-end 2025, 0.57x its size, against a peak of $60.9mm in 2021.
- Latest value held
- $32.1mm year-end 2025
- Peak
- $60.9mm year-end 2021
- Fund size
- $56mm Form D, amount sold
- Held vs. size
- 0.57x peak 1.09x
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 | $32.1mm | 0.57x | -20% over 2 yrs |
| 2023 | $40mm | 0.71x | +21% |
| 2022 | $33mm | 0.59x | -46% |
| 2021 | $60.9mm | 1.09x | – |
Other funds from Cobalt Capital
- Cobalt Tonal SPV III, LP 2023
- Cobalt Tonal SPV II L.P. 2022
- Cobalt Feather Holdings LLC 2021
- Cobalt Intellimize SPV I L.P 2021
- Emp Scopely Holdings, LLC 2020
- Cobalt Capital Partners I, LP 2019
- Cobalt Strategic Partners I, LP 2018
- Evolution Media III, LLC 2018
- Evolution Media Growth Partners LLC 2018
- Evolution Media Growth Partners II LLC 2018
- Evolution Media VI, LP 2018
- Evolution Media IV, LLC 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 805-8438645509. Data updated October 13, 2026.
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