Healthquest Madison SPV, L.P.
HealthQuest Capital · adviser of record: Healthquest Capital Management, L.P. · 2021 vintage
Healthquest Madison SPV, L.P. is a 2021 venture fund managed by HealthQuest Capital, with $50mm raised (Form D, amount sold). It reported $57.5mm in gross assets at year-end 2025, 1.15x its size, its highest reported value.
- Latest value held
- $57.5mm year-end 2025
- Peak
- $57.5mm year-end 2025
- Fund size
- $50mm Form D, amount sold
- Held vs. size
- 1.15x peak 1.15x
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 | $57.5mm | 1.15x | +9% over 2 yrs |
| 2023 | $52.9mm | 1.06x | +2% |
| 2022 | $51.9mm | 1.04x | +4% |
| 2021 | $50mm | 1.00x | – |
Other funds from HealthQuest Capital
- Healthquest Partners IV, L.P. 2022
- Healthquest Tactical Opportunities Fund, L.P. 2022
- Healthquest Partners III, L.P. 2019
- Healthquest Ajax II SPV, L.P. 2019
- Healthquest Ajax III 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 805-9067985851. Data updated October 13, 2026.
Is this your fund?
Spot an error and email a correction. Facing DPI pressure? See how distribution financing works.