Flagship Pioneering Fund VII, L.P.
Flagship Pioneering · adviser of record: Flagship Pioneering, Inc. · 2020 vintage
Flagship Pioneering Fund VII, L.P. is a 2020 venture fund managed by Flagship Pioneering, with $1.1bn raised (Form D, amount sold). It reported $3.8bn in gross assets at year-end 2025, 3.47x its size, its highest reported value.
- Latest value held
- $3.8bn year-end 2025
- Peak
- $3.8bn year-end 2025
- Fund size
- $1.1bn Form D, amount sold
- Held vs. size
- 3.47x peak 3.47x
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 | $3.8bn | 3.47x | +12% over 2 yrs |
| 2023 | $3.4bn | 3.11x | -1% |
| 2022 | $3.5bn | 3.15x | +12% |
| 2021 | $3.1bn | 2.81x | +177% |
| 2020 | $1.12bn | 1.01x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| Michigan SMIB | 2025-12-31 | – | – | – | $153mm |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
Other funds from Flagship Pioneering
- Flagship Pioneering Fund VIII, L.P. 2023
- ET Fund 2023
- FPN III, L.P. 2022
- FPN II, L.P. 2021
- Fpa, L.P. 2021
- FPN, L.P. 2020
- Flagship Labs VII LLC 2020
- Flagship Pioneering Special Opportunities Fund II, L.P. 2018
- Nutritional Health LTP Fund, L.P. 2018
- Flagship Pioneering Fund VI, L.P. 2017
- Flagship Venturelabs VI LLC 2017
- Flagship Ventures Opportunities Fund I, L.P. 2016
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 805-5926394651. Data updated October 13, 2026.
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