Healthquest Ajax III SPV, L.P.
HealthQuest Capital · adviser of record: Healthquest Capital Management, L.P. · 2019 vintage
Healthquest Ajax III SPV, L.P. is a 2019 venture fund managed by HealthQuest Capital, with $40.2mm raised (Form D, amount sold). It reported $36.3mm in gross assets at year-end 2025, 0.90x its size, against a peak of $45.6mm in 2021.
- Latest value held
- $36.3mm year-end 2025
- Peak
- $45.6mm year-end 2021
- Fund size
- $40.2mm Form D, amount sold
- Held vs. size
- 0.90x peak 1.13x
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 | $36.3mm | 0.90x | -10% over 2 yrs |
| 2023 | $40.5mm | 1.01x | -9% |
| 2022 | $44.6mm | 1.11x | -2% |
| 2021 | $45.6mm | 1.13x | +16% |
| 2020 | $39.2mm | 0.97x | -5% |
| 2019 | $41.3mm | 1.03x | – |
Other funds from HealthQuest Capital
- Healthquest Partners IV, L.P. 2022
- Healthquest Tactical Opportunities Fund, L.P. 2022
- Healthquest Madison SPV, L.P. 2021
- Healthquest Partners III, L.P. 2019
- Healthquest Ajax II SPV, L.P. 2019
- Healthquest Partners II, L.P. 2015
- Sofinnova Healthquest Partners, 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 805-3930489843. Data updated October 13, 2026.
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