Shadow Ventures Seed Fund II, LP
Shadow Ventures · adviser of record: Shadow Ventures, LLC · 2022 vintage
Shadow Ventures Seed Fund II, LP is a 2022 venture fund managed by Shadow Ventures, with $13.4mm raised (Form D, amount sold). It reported $30mm in gross assets at year-end 2025, 2.24x its size, against a peak of $31.5mm in 2023.
- Latest value held
- $30mm year-end 2025
- Peak
- $31.5mm year-end 2023
- Fund size
- $13.4mm Form D, amount sold
- Held vs. size
- 2.24x peak 2.35x
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 | $30mm | 2.24x | -5% over 2 yrs |
| 2023 | $31.5mm | 2.35x | +193% |
| 2022 | $10.8mm | 0.80x | – |
Other funds from Shadow Ventures
- Shadow Icon, LLC 2022
- Shadow Local Logic, LLC 2022
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 805-1202206877. Data updated October 13, 2026.
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