Lav Biosciences Fund III, L.P.
Lilly Asia Ventures · adviser of record: Lav Management Company, Limited · 2014 vintage
Lav Biosciences Fund III, L.P. is a 2014 venture fund managed by Lilly Asia Ventures, with $150mm raised (Form D, amount sold). It reported $130mm in gross assets at year-end 2025, 0.87x its size, against a peak of $533mm in 2020.
- Latest value held
- $130mm year-end 2025
- Peak
- $533mm year-end 2020
- Fund size
- $150mm Form D, amount sold
- Held vs. size
- 0.87x peak 3.55x
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 | $130mm | 0.87x | -67% over 2 yrs |
| 2023 | $390mm | 2.60x | +4% |
| 2022 | $373mm | 2.49x | -23% |
| 2021 | $485mm | 3.23x | -9% |
| 2020 | $533mm | 3.55x | +67% |
| 2019 | $320mm | 2.13x | +0% |
| 2018 | $320mm | 2.13x | +44% |
| 2017 | $221mm | 1.48x | +10% |
| 2016 | $201mm | 1.34x | +0% |
| 2015 | $200mm | 1.33x | +0% |
| 2014 | $200mm | 1.33x | – |
Other funds from Lilly Asia Ventures
- Lav Fund VI, L.P. 2020
- Lav Fund VI Opportunities, L.P. 2020
- Lav Biosciences Fund V, L.P. 2018
- Lav Biosciences Fund IV, L.P. 2016
- Lilly Asia Ventures Fund III, L.P. 2014
- Lilly Asia Ventures Fund II, L.P. 2012
- Lilly Asia Ventures Fund I, L.P. 2012
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 805-9059516408. Data updated October 13, 2026.
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