Ion Pacific Merdeka (Cayman) LP
Ion Pacific · adviser of record: Ion Pacific, Inc. · 2021 vintage
Ion Pacific Merdeka (Cayman) LP is a 2021 venture fund managed by Ion Pacific, with $40mm raised (Form D, amount sold). It reported $12.7mm in gross assets at year-end 2025, 0.32x its size, against a peak of $18.7mm in 2023.
- Latest value held
- $12.7mm year-end 2025
- Peak
- $18.7mm year-end 2023
- Fund size
- $40mm Form D, amount sold
- Held vs. size
- 0.32x peak 0.47x
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 | $12.7mm | 0.32x | -32% over 2 yrs |
| 2023 | $18.7mm | 0.47x | +42% |
| 2022 | $13.2mm | 0.33x | +126% |
| 2021 | $5.8mm | 0.15x | – |
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 805-8672596022. Data updated October 13, 2026.
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