Menlo Ventures XIV, L.P.
Menlo Ventures · adviser of record: Menlo Ventures Management, L.P. · 2017 vintage
Menlo Ventures XIV, L.P. is a 2017 venture fund managed by Menlo Ventures, with $450mm raised (Form D, amount sold). It reported $1bn in gross assets at year-end 2025, 2.22x its size, against a peak of $1.42bn in 2021.
- Latest value held
- $1bn year-end 2025
- Peak
- $1.42bn year-end 2021
- Fund size
- $450mm Form D, amount sold
- Held vs. size
- 2.22x peak 3.14x
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 | $1bn | 2.22x | -11% over 2 yrs |
| 2023 | $1.13bn | 2.50x | +1% |
| 2022 | $1.11bn | 2.47x | -21% |
| 2021 | $1.42bn | 3.14x | +90% |
| 2020 | $745mm | 1.65x | +39% |
| 2019 | $536mm | 1.19x | +12% |
| 2018 | $481mm | 1.07x | +6% |
| 2017 | $452mm | 1.01x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| WSIB | 2026-03-31 | $100mm | 0.41x | 2.12x | 1.71x |
| Michigan SMIB | 2025-12-31 | – | – | – | $13.6mm |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
What registered funds report
| Holder | As of | Value of stake | Value ÷ cost |
|---|---|---|---|
| NB Crossroads Private Markets Fund IV Holdings LLC | 2026-06-30 | $6mm | 2.62x |
From SEC Form N-PORT, filed by mutual funds and other registered funds that hold an interest in this fund.
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 805-6719754674. Data updated October 13, 2026.
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