Lightstone Ventures III, L.P.
Lightstone Ventures · adviser of record: LSV Capital Management, LLC · 2021 vintage
Lightstone Ventures III, L.P. is a 2021 venture fund managed by Lightstone Ventures, with $375mm raised (Form D, amount sold). It reported $313mm in gross assets at year-end 2025, 0.83x its size, against a peak of $362mm in 2022.
- Latest value held
- $313mm year-end 2025
- Peak
- $362mm year-end 2022
- Fund size
- $375mm Form D, amount sold
- Held vs. size
- 0.83x peak 0.97x
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 | $313mm | 0.83x | -6% over 2 yrs |
| 2023 | $334mm | 0.89x | -8% |
| 2022 | $362mm | 0.97x | +3% |
| 2021 | $351mm | 0.94x | – |
Other funds from Lightstone Ventures
- Lightstone Ventures II, L.P. 2017
- Lightstone Singapore, L.P. 2015
- Lightstone Ventures, L.P. 2012
- Lightstone Ventures (A), 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 805-8338847722. Data updated October 13, 2026.
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