Reach III, L.P.
Reach Capital · adviser of record: Reach Management, LLC · 2020 vintage
Reach III, L.P. is a 2020 venture fund managed by Reach Capital, with $150mm raised (Form D, amount sold). It reported $171mm in gross assets at year-end 2025, 1.14x its size, against a peak of $171mm in 2022.
- Latest value held
- $171mm year-end 2025
- Peak
- $171mm year-end 2022
- Fund size
- $150mm Form D, amount sold
- Held vs. size
- 1.14x peak 1.14x
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 | $171mm | 1.14x | +13% over 2 yrs |
| 2023 | $151mm | 1.01x | -12% |
| 2022 | $171mm | 1.14x | +3% |
| 2021 | $166mm | 1.10x | +1% |
| 2020 | $164mm | 1.09x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| LAFPP | 2025-12-31 | $10mm | 0.20x | 1.20x | 0.99x |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
Other funds from Reach Capital
- Reach Founders' Fund, L.P. 2023
- Reach IV, L.P. 2022
- Reach Opportunity I, LP 2021
- Reach OS SPV I, LP 2021
- Reach II Love SPV, L.P. 2019
- Reach II, L.P. 2017
- Reach, L.P. 2015
- Newschools Seed, L.P. 2015
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 805-9926366908. Data updated October 13, 2026.
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