Menlo Ventures XII, L.P.
Menlo Ventures · adviser of record: MV Management XI, LLC · 2014 vintage
Menlo Ventures XII, L.P. is a 2014 venture fund managed by Menlo Ventures, with $400mm raised (Form D, amount sold). It reported $643mm in gross assets at year-end 2025, 1.61x its size, against a peak of $795mm in 2021.
- Latest value held
- $643mm year-end 2025
- Peak
- $795mm year-end 2021
- Fund size
- $400mm Form D, amount sold
- Held vs. size
- 1.61x peak 1.99x
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 | $643mm | 1.61x | +10% over 2 yrs |
| 2023 | $583mm | 1.46x | +10% |
| 2022 | $530mm | 1.33x | -33% |
| 2021 | $795mm | 1.99x | +57% |
| 2020 | $507mm | 1.27x | +11% |
| 2019 | $456mm | 1.14x | +16% |
| 2018 | $392mm | 0.98x | +2% |
| 2017 | $386mm | 0.96x | +2% |
| 2016 | $377mm | 0.94x | -3% |
| 2015 | $389mm | 0.97x | +7% |
| 2014 | $363mm | 0.91x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| WSIB | 2026-03-31 | $100mm | 0.61x | 1.88x | 1.28x |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
Other funds from Menlo Ventures
- Menlo Inflection AI Partners, L.P. 2023
- Menlo Inflection AI Investors, L.P. 2023
- Menlo Entrepreneurs Fund XVI, L.P. 2023
- Menlo Cxo Fund XVI, L.P. 2023
- Menlo Inflection III, L.P. 2022
- Menlo Ventures XVI, L.P. 2022
- Menlo Olympus Fund I, L.P. 2022
- Menlo Labs Fund II, L.P. 2022
- Menlo Cxo Fund Inflection III, L.P. 2022
- MM Inflection III, L.P. 2022
- Menlo Bio I, L.P. 2022
- Menlo Ventures XV, L.P. 2020
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 805-9367402166. Data updated October 13, 2026.
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