Refinery Ventures Fund II, LP
Refinery · adviser of record: Refinery Management LLC · 2020 vintage
Refinery Ventures Fund II, LP is a 2020 venture fund managed by Refinery, with $35mm raised (Form D, amount sold). It reported $32mm in gross assets at year-end 2025, 0.92x its size, against a peak of $32.7mm in 2022.
- Latest value held
- $32mm year-end 2025
- Peak
- $32.7mm year-end 2022
- Fund size
- $35mm Form D, amount sold
- Held vs. size
- 0.92x peak 0.93x
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 | $32mm | 0.92x | -2% over 2 yrs |
| 2023 | $32.7mm | 0.93x | +0% |
| 2022 | $32.7mm | 0.93x | +227% |
| 2021 | $10mm | 0.29x | – |
| 2020 | $0k | 0.00x | – |
Other funds from Refinery
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 805-3264320742. Data updated October 13, 2026.
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