HMC Needles I, L.P.
Haystack · adviser of record: Haystack Management Company, LLC · 2021 vintage
HMC Needles I, L.P. is a 2021 venture fund managed by Haystack, with $24mm raised (Form D, amount sold). It reported $17.4mm in gross assets at year-end 2025, 0.72x its size, against a peak of $24.4mm in 2023.
- Latest value held
- $17.4mm year-end 2025
- Peak
- $24.4mm year-end 2023
- Fund size
- $24mm Form D, amount sold
- Held vs. size
- 0.72x peak 1.02x
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 | $17.4mm | 0.72x | -29% over 2 yrs |
| 2023 | $24.4mm | 1.02x | +2% |
| 2022 | $23.8mm | 0.99x | +1% |
| 2021 | $23.7mm | 0.99x | – |
Other funds from Haystack
- Haystack Ventures VII, L.P. 2023
- HMC Needles II, LP 2023
- Needle 2023-1, LLC 2023
- Needle 2021-1, LLC 2021
- Needle 2021-2, LLC 2021
- Needle 2020-1, LLC 2020
- Needle 644, LLC 2020
- Haystack Ventures V, L.P. 2018
- Haystack Ventures VI, L.P. 2018
- Haystack Ventures IV, L.P. 2017
- Haystack Fund III-A, LP 2017
- Haystack Fund II, LLC 2017
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 805-6175666796. Data updated October 13, 2026.
Is this your fund?
Spot an error and email a correction. Facing DPI pressure? See how distribution financing works.