HCM IV, L.P.
Human Capital · adviser of record: TCM Group Holdings, LLC · 2021 vintage
HCM IV, L.P. is a 2021 venture fund managed by Human Capital, with $287mm raised (Form D, amount sold). It reported $402mm in gross assets at year-end 2025, 1.40x its size, its highest reported value.
- Latest value held
- $402mm year-end 2025
- Peak
- $402mm year-end 2025
- Fund size
- $287mm Form D, amount sold
- Held vs. size
- 1.40x peak 1.40x
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 | $402mm | 1.40x | +24% over 2 yrs |
| 2023 | $324mm | 1.13x | +12% |
| 2022 | $288mm | 1.00x | +3% |
| 2021 | $279mm | 0.97x | – |
Other funds from Human Capital
- HCM S14A LP 2023
- HCM S12A LP 2023
- HCM S9A LP 2022
- HCM WEB3 I, L.P. 2022
- HCM V, L.P. 2021
- HCM S3C LP 2021
- HCM S11A LP 2021
- HCM S8A LP 2021
- HCM S7A LP 2021
- HCM S6A LP 2021
- HCM S7B LP 2021
- HCM S10A LP 2021
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 805-9513534039. Data updated October 13, 2026.
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