Next Level Ventures Fund II, LLLP
Next Level Ventures · adviser of record: Next Level Ventures, LLC · 2018 vintage
Next Level Ventures Fund II, LLLP is a 2018 venture fund managed by Next Level Ventures, with $50mm raised (Form D, amount sold). It reported $25.1mm in gross assets at year-end 2025, 0.50x its size, against a peak of $41.6mm in 2020.
- Latest value held
- $25.1mm year-end 2025
- Peak
- $41.6mm year-end 2020
- Fund size
- $50mm Form D, amount sold
- Held vs. size
- 0.50x peak 0.83x
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 | $25.1mm | 0.50x | -11% over 2 yrs |
| 2023 | $28.2mm | 0.56x | -10% |
| 2022 | $31.5mm | 0.63x | -16% |
| 2021 | $37.4mm | 0.75x | -10% |
| 2020 | $41.6mm | 0.83x | +6% |
| 2019 | $39.2mm | 0.78x | +6% |
| 2018 | $36.8mm | 0.74x | – |
Other funds from Next Level Ventures
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 805-1097323910. Data updated October 13, 2026.
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