Define Ventures Opportunities II/III, L.P.
Define Ventures · adviser of record: Define Ventures Management, LLC · 2022 vintage
Define Ventures Opportunities II/III, L.P. is a 2022 venture fund managed by Define Ventures, with $425mm raised (Form D, amount sold). It reported $161mm in gross assets at year-end 2025, 0.38x its size, against a peak of $182mm in 2022.
- Latest value held
- $161mm year-end 2025
- Peak
- $182mm year-end 2022
- Fund size
- $425mm Form D, amount sold
- Held vs. size
- 0.38x peak 0.43x
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 | $161mm | 0.38x | -0% over 2 yrs |
| 2023 | $162mm | 0.38x | -11% |
| 2022 | $182mm | 0.43x | – |
Other funds from Define Ventures
- Define Ventures Fund III, L.P. 2022
- Define Ventures Opportunities I, L.P. 2021
- Define Ventures Fund II, L.P. 2020
- Define Ventures 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 805-5519106710. Data updated October 13, 2026.
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