DCVC Bio III, L.P.
DCVC Bio · adviser of record: DCVC Bio Management CO, LLC · 2023 vintage
DCVC Bio III, L.P. is a 2023 venture fund managed by DCVC Bio, with $400mm raised (Form D, amount sold). It reported $381mm in gross assets at year-end 2025, 0.95x its size, its highest reported value.
- Latest value held
- $381mm year-end 2025
- Peak
- $381mm year-end 2025
- Fund size
- $400mm Form D, amount sold
- Held vs. size
- 0.95x peak 0.95x
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 | $381mm | 0.95x | +12% over 2 yrs |
| 2023 | $339mm | 0.85x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| Rhode Island ERSRI | 2026-03-31 | $20mm | 0.00x | 0.84x | 0.84x |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
Other funds from DCVC Bio
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 805-9052364337. Data updated October 13, 2026.
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