Decheng Capital China Life Sciences Usd Fund II, L.P.
Decheng Capital · adviser of record: Decheng Capital LLC · 2015 vintage
Decheng Capital China Life Sciences Usd Fund II, L.P. is a 2015 venture fund managed by Decheng Capital, with $250mm raised (Form D, amount sold). It reported $481mm in gross assets at year-end 2025, 1.92x its size, against a peak of $510mm in 2021.
- Latest value held
- $481mm year-end 2025
- Peak
- $510mm year-end 2021
- Fund size
- $250mm Form D, amount sold
- Held vs. size
- 1.92x peak 2.04x
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 | $481mm | 1.92x | +28% over 2 yrs |
| 2023 | $376mm | 1.51x | -1% |
| 2022 | $380mm | 1.52x | -25% |
| 2021 | $510mm | 2.04x | +7% |
| 2020 | $478mm | 1.91x | +35% |
| 2019 | $354mm | 1.42x | -0% |
| 2018 | $356mm | 1.42x | -6% |
| 2017 | $377mm | 1.51x | – |
Other funds from Decheng Capital
- Decheng Capital Global Life Sciences Fund IV, L.P. 2020
- Decheng Capital China Life Sciences Usd Fund III, L.P. 2017
- Decheng Capital China Life Sciences Usd Fund I, L.P. 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 805-2912989556. Data updated October 13, 2026.
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