Multicoin Venture Fund III, LP
Multicoin Capital · adviser of record: Multicoin Capital Management, LLC · 2022 vintage
Multicoin Venture Fund III, LP is a 2022 venture fund managed by Multicoin Capital, with $298mm raised (Form D, amount sold). It reported $687mm in gross assets at year-end 2025, 2.31x its size, against a peak of $951mm in 2024.
- Latest value held
- $687mm year-end 2025
- Peak
- $951mm year-end 2024
- Fund size
- $298mm Form D, amount sold
- Held vs. size
- 2.31x peak 3.19x
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 | $687mm | 2.31x | -28% |
| 2024 archived filing | $951mm | 3.19x | +51% |
| 2023 | $631mm | 2.12x | +47% |
| 2022 | $429mm | 1.44x | – |
Other funds from Multicoin Capital
- Multicoin Venture Fund II, LP 2020
- Multicoin Private Fund IV, LP 2020
- Multicoin Private Fund II, LP 2019
- Multicoin Private Fund II (Offshore), LP 2019
- Multicoin Private Fund I, LP 2019
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 805-9369844471. Data updated October 13, 2026.
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