Fund D
Matrix Partners China · adviser of record: Matrix Partners China Management, LTD. · 2022 vintage
Fund D is a 2022 venture fund managed by Matrix Partners China, with $1.6bn raised (Form D, amount sold). It reported $1.39bn in gross assets at year-end 2025, 0.87x its size, against a peak of $1.41bn in 2023.
- Latest value held
- $1.39bn year-end 2025
- Peak
- $1.41bn year-end 2023
- Fund size
- $1.6bn Form D, amount sold
- Held vs. size
- 0.87x peak 0.88x
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 | $1.39bn | 0.87x | -1% over 2 yrs |
| 2023 | $1.41bn | 0.88x | +9% |
| 2022 | $1.29bn | 0.81x | – |
Other funds from Matrix Partners China
- Fund I 2023
- Fund X 2022
- Fund J 2022
- Fund H 2021
- Fund C 2020
- Fund Q 2020
- Fund A 2018
- Fund B 2018
- Fund F 2018
- Fund Z 2016
- Fund U 2016
- Fund V 2016
All Matrix Partners China 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 805-3630055859. Data updated October 13, 2026.
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