Define Ventures Fund I, L.P.
Define Ventures · adviser of record: Define Ventures Management, LLC · 2017 vintage
Define Ventures Fund I, L.P. is a 2017 venture fund managed by Define Ventures, with $87.6mm raised (Form D, amount sold). It reported $173mm in gross assets at year-end 2025, 1.97x its size, against a peak of $209mm in 2021.
- Latest value held
- $173mm year-end 2025
- Peak
- $209mm year-end 2021
- Fund size
- $87.6mm Form D, amount sold
- Held vs. size
- 1.97x peak 2.39x
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 | $173mm | 1.97x | -9% over 2 yrs |
| 2023 | $189mm | 2.16x | -5% |
| 2022 | $199mm | 2.27x | -5% |
| 2021 | $209mm | 2.39x | +140% |
| 2020 | $87.1mm | 0.99x | +3% |
| 2019 | $84.8mm | 0.97x | +69% |
| 2018 | $50.2mm | 0.57x | +0% |
| 2017 | $49.9mm | 0.57x | – |
Other funds from Define Ventures
- Define Ventures Fund III, L.P. 2022
- Define Ventures Opportunities II/III, L.P. 2022
- Define Ventures Opportunities I, L.P. 2021
- Define Ventures Fund II, L.P. 2020
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 805-4678041852. Data updated October 13, 2026.
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