HLC VGC Fund IV L.P.
HLC VGC · adviser of record: HLC VGC Management IV Limited · 2022 vintage
HLC VGC Fund IV L.P. is a 2022 venture fund managed by HLC VGC, with $750mm raised (Form D, amount sold). It reported $600mm in gross assets at year-end 2025, 0.80x its size, its highest reported value.
- Latest value held
- $600mm year-end 2025
- Peak
- $600mm year-end 2025
- Fund size
- $750mm Form D, amount sold
- Held vs. size
- 0.80x peak 0.80x
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 | $600mm | 0.80x | +15% over 2 yrs |
| 2023 | $523mm | 0.70x | +9% |
| 2022 | $480mm | 0.64x | – |
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 805-6396312426. Data updated October 13, 2026.
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