First Spark Opportunities Fund, L.P.
First Spark Ventures · adviser of record: First Spark Ventures, LLC · 2021 vintage
First Spark Opportunities Fund, L.P. is a 2021 venture fund managed by First Spark Ventures, with $56.5mm raised (Form D, amount sold). It reported $45mm in gross assets at year-end 2025, 0.80x its size, against a peak of $217mm in 2022.
- Latest value held
- $45mm year-end 2025
- Peak
- $217mm year-end 2022
- Fund size
- $56.5mm Form D, amount sold
- Held vs. size
- 0.80x peak 3.84x
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 | $45mm | 0.80x | -8% over 2 yrs |
| 2023 | $48.8mm | 0.86x | -78% |
| 2022 | $217mm | 3.84x | +14% |
| 2021 | $190mm | 3.36x | – |
Other funds from First Spark Ventures
All First Spark Ventures funds
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 805-2531616273. Data updated October 13, 2026.
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