Conversion Capital Fund, LP
Conversion Capital · adviser of record: Conversion Capital, LLC · 2015 vintage
Conversion Capital Fund, LP is a 2015 venture fund managed by Conversion Capital, with $8.3mm raised (Form D, amount sold). It reported $10.4mm in gross assets at year-end 2025, 1.25x its size, against a peak of $28.3mm in 2020.
- Latest value held
- $10.4mm year-end 2025
- Peak
- $28.3mm year-end 2020
- Fund size
- $8.3mm Form D, amount sold
- Held vs. size
- 1.25x peak 3.39x
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 | $10.4mm | 1.25x | +9% over 2 yrs |
| 2023 | $9.6mm | 1.14x | +17% |
| 2022 | $8.2mm | 0.98x | -56% |
| 2021 | $18.6mm | 2.23x | -34% |
| 2020 | $28.3mm | 3.39x | +111% |
| 2019 | $13.4mm | 1.60x | +0% |
| 2018 | $13.4mm | 1.60x | – |
Other funds from Conversion Capital
- Conversion Capital Fund III, LP 2021
- Conversion Capital Fuel, LLC 2018
- Conversion Capital Fund II, LP 2017
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 805-4895133830. Data updated October 13, 2026.
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