Sinovation Fund III LP
Sinovation Ventures · adviser of record: Sinovation Fund Management III, L.P. · 2012 vintage
Sinovation Fund III LP is a 2012 venture fund managed by Sinovation Ventures, with $303mm raised (Form D, amount sold). It reported $220mm in gross assets at year-end 2025, 0.73x its size, against a peak of $556mm in 2021.
- Latest value held
- $220mm year-end 2025
- Peak
- $556mm year-end 2021
- Fund size
- $303mm Form D, amount sold
- Held vs. size
- 0.73x peak 1.84x
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 | $220mm | 0.73x | -54% over 2 yrs |
| 2023 | $477mm | 1.58x | -12% |
| 2022 | $542mm | 1.79x | -3% |
| 2021 | $556mm | 1.84x | +61% |
| 2020 | $345mm | 1.14x | -7% |
| 2019 | $370mm | 1.22x | -0% |
| 2018 | $371mm | 1.23x | +375% |
| 2017 | $78.1mm | 0.26x | -75% |
| 2016 | $313mm | 1.03x | +51% |
| 2015 | $207mm | 0.68x | -23% |
| 2014 | $267mm | 0.88x | +0% |
| 2013 | $267mm | 0.88x | -2% |
| 2012 | $272mm | 0.90x | – |
Other funds from Sinovation Ventures
- Sinovation Disrupt Fund, L.P. 2020
- Sinovation Fund IV, L.P. 2018
- Innovation Works Development Fund II, L.P. 2014
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 805-5004439100. Data updated October 13, 2026.
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