Gaorong Partners Fund V, L.P.
Gaorong Capital · adviser of record: Banyan Capital Partners LTD. · 2020 vintage
Gaorong Partners Fund V, L.P. is a 2020 venture fund managed by Gaorong Capital, with $1bn raised (Form D, amount sold). It reported $1.39bn in gross assets at year-end 2025, 1.39x its size, against a peak of $1.43bn in 2022.
- Latest value held
- $1.39bn year-end 2025
- Peak
- $1.43bn year-end 2022
- Fund size
- $1bn Form D, amount sold
- Held vs. size
- 1.39x peak 1.43x
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 | $1.39bn | 1.39x | +5% over 2 yrs |
| 2023 | $1.32bn | 1.32x | -7% |
| 2022 | $1.43bn | 1.43x | +18% |
| 2021 | $1.21bn | 1.21x | +21% |
| 2020 | $998mm | 1.00x | – |
Other funds from Gaorong Capital
- Gaorong Partners Fund VI, L.P. 2022
- Gaorong Partners Fund IV, L.P. 2018
- Banyan Partners Fund III, L.P. 2017
- Banyan Partners CO-Invest 2015, L.P. 2015
- Banyan Partners Fund II, L.P. 2014
- Banyan Partners Fund I, L.P. 2013
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 805-7387054113. Data updated October 13, 2026.
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