Section 32 Fund 3, LP
Section 32 · adviser of record: Section 32, LLC · 2020 vintage
Section 32 Fund 3, LP is a 2020 venture fund managed by Section 32, with $350mm raised (Form D, amount sold). It reported $299mm in gross assets at year-end 2025, 0.86x its size, against a peak of $346mm in 2023.
- Latest value held
- $299mm year-end 2025
- Peak
- $346mm year-end 2023
- Fund size
- $350mm Form D, amount sold
- Held vs. size
- 0.86x peak 0.99x
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 | $299mm | 0.86x | -13% over 2 yrs |
| 2023 | $346mm | 0.99x | +36% |
| 2022 | $255mm | 0.73x | -15% |
| 2021 | $300mm | 0.86x | +5% |
| 2020 | $286mm | 0.82x | – |
Other funds from Section 32
- Section 32 Fund 5, LP 2022
- Section 32 Fund 4, LP 2021
- Section 32 Fund 2, LP 2017
- Section 32 Fund 1, LP 2016
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 805-9182600583. Data updated October 13, 2026.
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