Lightshift I Master Fund Limited
Lightshift Capital · adviser of record: Lightshift Capital Management Limited · 2022 vintage
Lightshift I Master Fund Limited is a 2022 venture fund managed by Lightshift Capital, with $5.4mm raised (Form D, amount sold). It reported $25.1mm in gross assets at year-end 2025, 4.62x its size, against a peak of $48.2mm in 2023.
- Latest value held
- $25.1mm year-end 2025
- Peak
- $48.2mm year-end 2023
- Fund size
- $5.4mm Form D, amount sold
- Held vs. size
- 4.62x peak 8.89x
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 | $25.1mm | 4.62x | -48% over 2 yrs |
| 2023 | $48.2mm | 8.89x | +60% |
| 2022 | $30.1mm | 5.55x | – |
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 805-7564848225. Data updated October 13, 2026.
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