Joy Capital III, L.P.
Joy Capital · adviser of record: Joy Capital Management, LTD. · 2019 vintage
Joy Capital III, L.P. is a 2019 venture fund managed by Joy Capital, with $385mm raised (Form D, amount sold). It reported $526mm in gross assets at year-end 2025, 1.37x its size, against a peak of $537mm in 2023.
- Latest value held
- $526mm year-end 2025
- Peak
- $537mm year-end 2023
- Fund size
- $385mm Form D, amount sold
- Held vs. size
- 1.37x peak 1.40x
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 | $526mm | 1.37x | -2% over 2 yrs |
| 2023 | $537mm | 1.40x | +3% |
| 2022 | $523mm | 1.36x | +12% |
| 2021 | $465mm | 1.21x | +120% |
| 2020 | $212mm | 0.55x | +122% |
| 2019 | $95.5mm | 0.25x | – |
Other funds from Joy Capital
- Joy Capital IV, L.P. 2022
- Joy Capital Opportunity, L.P. 2018
- Joy Capital II, L.P. 2017
- Joy Capital I, 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 805-2050422972. Data updated October 13, 2026.
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