Liquid 2 Venture Fund III L.P.
Liquid 2 Ventures · adviser of record: Liquid 2 Ventures, LLC · 2020 vintage
Liquid 2 Venture Fund III L.P. is a 2020 venture fund managed by Liquid 2 Ventures, with $100mm raised (Form D, amount sold). It reported $118mm in gross assets at year-end 2025, 1.18x its size, its highest reported value.
- Latest value held
- $118mm year-end 2025
- Peak
- $118mm year-end 2025
- Fund size
- $100mm Form D, amount sold
- Held vs. size
- 1.18x peak 1.18x
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 | $118mm | 1.18x | +24% |
| 2024 archived filing | $95.4mm | 0.95x | +2% |
| 2023 | $93.6mm | 0.94x | +5% |
| 2022 | $88.8mm | 0.89x | +9% |
| 2021 | $81.1mm | 0.81x | +133% |
| 2020 | $34.8mm | 0.35x | – |
Other funds from Liquid 2 Ventures
- Liquid 2 Ventures Fund IV LP 2023
- Liquid 2 Opportunities Fund I, L.P. 2020
- Liquid 2 Ventures Fund II, L.P. 2018
- Liquid 2 Ventures QP, L.P. 2015
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 805-8321293821. Data updated October 13, 2026.
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