HL Partners II L.P.
HLC VGC · adviser of record: HLC VGC Management IV Limited · 2022 vintage
HL Partners II L.P. is a 2022 venture fund managed by HLC VGC. It reported $185mm in gross assets at year-end 2025, against a peak of $353mm in 2022.
- Latest value held
- $185mm year-end 2025
- Peak
- $353mm year-end 2022
- Fund size
- Not on file
Value held by year-end
Gross asset value reported on Form ADV at each year-end. Open in the Fund Tracker
| Year-end | Gross assets | ÷ size | Change |
|---|---|---|---|
| 2025 | $185mm | – | -42% over 2 yrs |
| 2023 | $317mm | – | -10% |
| 2022 | $353mm | – | – |
Other funds from HLC VGC
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 805-2623435558. Data updated October 13, 2026.
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