Conversion Capital Fund II, LP
Conversion Capital · adviser of record: Conversion Capital, LLC · 2017 vintage
Conversion Capital Fund II, LP is a 2017 venture fund managed by Conversion Capital, with $20mm raised (Form D, amount sold). It reported $52.1mm in gross assets at year-end 2025, 2.60x its size, against a peak of $69.4mm in 2022.
- Latest value held
- $52.1mm year-end 2025
- Peak
- $69.4mm year-end 2022
- Fund size
- $20mm Form D, amount sold
- Held vs. size
- 2.60x peak 3.47x
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 | $52.1mm | 2.60x | -1% over 2 yrs |
| 2023 | $52.7mm | 2.64x | -24% |
| 2022 | $69.4mm | 3.47x | +1% |
| 2021 | $68.8mm | 3.44x | +192% |
| 2020 | $23.6mm | 1.18x | +42% |
| 2019 | $16.6mm | 0.83x | +0% |
| 2018 | $16.6mm | 0.83x | – |
What registered funds report
| Holder | As of | Value of stake | Value ÷ cost |
|---|---|---|---|
| StepStone Private Venture & Growth Fund | 2026-06-30 | $53k | 1.14x |
From SEC Form N-PORT, filed by mutual funds and other registered funds that hold an interest in this fund.
Other funds from Conversion Capital
- Conversion Capital Fund III, LP 2021
- Conversion Capital Fuel, LLC 2018
- Conversion Capital Fund, LP 2015
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 805-9351183801. Data updated October 13, 2026.
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