Reformation Partners II, LP
Reformation · adviser of record: Reformation Management, LLC · 2021 vintage
Reformation Partners II, LP is a 2021 venture fund managed by Reformation, with $85mm raised (Form D, amount sold). It reported $78.3mm in gross assets at year-end 2025, 0.92x its size, against a peak of $83.6mm in 2022.
- Latest value held
- $78.3mm year-end 2025
- Peak
- $83.6mm year-end 2022
- Fund size
- $85mm Form D, amount sold
- Held vs. size
- 0.92x peak 0.98x
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 | $78.3mm | 0.92x | -6% over 2 yrs |
| 2023 | $82.9mm | 0.98x | -1% |
| 2022 | $83.6mm | 0.98x | +2% |
| 2021 | $82.1mm | 0.97x | – |
Other funds from Reformation
- Reformation Partners SPV-3 LLC 2021
- Reformation Partners SPV-2 LLC 2021
- Reformation Partners-A, LP 2019
- Reformation Partners, 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 805-6753132851. Data updated October 13, 2026.
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