Mission Bay Capital II, L.P.
Mission Bay Capital · adviser of record: MBC Fii Management, LLC · 2015 vintage
Mission Bay Capital II, L.P. is a 2015 venture fund managed by Mission Bay Capital, with $25mm raised (Form D, amount sold). It reported $32.3mm in gross assets at year-end 2025, 1.29x its size, against a peak of $41.2mm in 2023.
- Latest value held
- $32.3mm year-end 2025
- Peak
- $41.2mm year-end 2023
- Fund size
- $25mm Form D, amount sold
- Held vs. size
- 1.29x peak 1.65x
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 | $32.3mm | 1.29x | -22% over 2 yrs |
| 2023 | $41.2mm | 1.65x | +14% |
| 2022 | $36.1mm | 1.44x | -0% |
| 2021 | $36.1mm | 1.44x | -9% |
| 2020 | $39.7mm | 1.59x | +11% |
| 2019 | $35.8mm | 1.43x | +1% |
| 2018 | $35.5mm | 1.42x | +42% |
| 2017 | $25.1mm | 1.00x | +0% |
| 2016 | $25mm | 1.00x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| University of California | 2025-06-30 | $3.9mm | 0.98x | 2.35x | 1.36x |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
Other funds from Mission Bay Capital
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 805-7618748646. Data updated October 13, 2026.
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