Commerce Ivy III, LLC
Commerce Ventures · adviser of record: Commerce Ventures Management, LLC · 2021 vintage
Commerce Ivy III, LLC is a 2021 venture fund managed by Commerce Ventures, with $2.5mm raised (Form D, amount sold). It reported $4.2mm in gross assets at year-end 2025, 1.66x its size, against a peak of $5.5mm in 2021.
- Latest value held
- $4.2mm year-end 2025
- Peak
- $5.5mm year-end 2021
- Fund size
- $2.5mm Form D, amount sold
- Held vs. size
- 1.66x peak 2.20x
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 | $4.2mm | 1.66x | +15% over 2 yrs |
| 2023 | $3.6mm | 1.45x | -34% |
| 2022 | $5.5mm | 2.20x | -0% |
| 2021 | $5.5mm | 2.20x | – |
Other funds from Commerce Ventures
- Commerce Ventures V, L.P. 2023
- CV Access, LP 2022
- CV III FP, LLC 2022
- CV Industry III, LLC 2022
- CV III Developer, LLC 2022
- CV FP, LLC 2022
- Commerce Ventures IV, LP 2021
- CV Opportunities, L.P. 2021
- CV Strong F, LLC 2021
- CV II Protect E, LLC 2021
- CV III GBG, LLC 2021
- CV III Recommerce, LLC 2021
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 805-4212578847. Data updated October 13, 2026.
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