Indicator Carbon II, L.P.
HSV Holdings · adviser of record: HSV Holdings LLC · 2017 vintage
Indicator Carbon II, L.P. is a 2017 venture fund managed by HSV Holdings, with $2mm raised (Form D, amount sold). It reported $1mm in gross assets at year-end 2025, 0.52x its size, against a peak of $1mm in 2022.
- Latest value held
- $1mm year-end 2025
- Peak
- $1mm year-end 2022
- Fund size
- $2mm Form D, amount sold
- Held vs. size
- 0.52x peak 0.52x
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 | $1mm | 0.52x | +0% over 2 yrs |
| 2023 | $1mm | 0.52x | +0% |
| 2022 | $1mm | 0.52x | +32% |
| 2021 | $784k | 0.39x | +83% |
| 2020 | $429k | 0.21x | +0% |
| 2019 | $428k | 0.21x | +9% |
| 2018 | $391k | 0.20x | – |
Other funds from HSV Holdings
- Indicator Ventures III, L.P. 2021
- Indicator Ventures Select I, L.P. 2021
- Indicator Ventures II, L.P. 2017
- Indicator Carbon, L.P. 2016
- Indicator Ventures, L.P. 2014
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 805-5397114606. Data updated October 13, 2026.
Is this your fund?
Spot an error and email a correction. Facing DPI pressure? See how distribution financing works.