NPC Tonal, LLC
Next Legacy · adviser of record: Next Legacy Management, LLC · 2020 vintage
NPC Tonal, LLC is a 2020 venture fund managed by Next Legacy, with $650k raised (Form D, amount sold). It reported $1k in gross assets at year-end 2025, 0.00x its size, against a peak of $2.8mm in 2022.
- Latest value held
- $1k year-end 2025
- Peak
- $2.8mm year-end 2022
- Fund size
- $650k Form D, amount sold
- Held vs. size
- 0.00x peak 4.36x
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 | $1k | 0.00x | -100% over 2 yrs |
| 2023 | $272k | 0.42x | -90% |
| 2022 | $2.8mm | 4.36x | +254% |
| 2021 | $800k | 1.23x | +3% |
| 2020 | $780k | 1.20x | – |
Other funds from Next Legacy
- NPC Guild II, LLC 2021
- NPC VB, LLC 2021
- NPC Lime II, LLC 2021
- NPC Keep Truckin, LLC 2021
- NPC Babylist, LLC 2021
- NPC Opportunity Fund, L.P. 2020
- NPC Exabeam, LLC 2019
- NPC Axiomatic, LLC 2019
- NPC Impossible Foods II, LLC 2019
- NPC Guild, LLC 2019
- NPC Thoughtspot, LLC 2019
- NPC Bytedance, LLC 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 805-9430272809. Data updated October 13, 2026.
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