Spark Capital Growth Fund III, L.P.
Spark Capital · adviser of record: Spark Capital Partners, LLC · 2018 vintage
Spark Capital Growth Fund III, L.P. is a 2018 venture fund managed by Spark Capital, with $900mm raised (Form D, amount sold). It reported $2.3bn in gross assets at year-end 2025, 2.60x its size, its highest reported value.
- Latest value held
- $2.3bn year-end 2025
- Peak
- $2.3bn year-end 2025
- Fund size
- $900mm Form D, amount sold
- Held vs. size
- 2.60x peak 2.60x
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 | $2.3bn | 2.60x | +57% over 2 yrs |
| 2023 | $1.49bn | 1.66x | -6% |
| 2022 | $1.58bn | 1.75x | +8% |
| 2021 | $1.45bn | 1.62x | +63% |
| 2020 | $892mm | 0.99x | -2% |
| 2019 | $909mm | 1.01x | +41% |
| 2018 | $645mm | 0.72x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| LACERS | 2025-12-31 | $26.8mm | 0.19x | 2.29x | 2.10x |
| LAFPP | 2025-12-31 | $15mm | 0.19x | 2.29x | 2.10x |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
Other funds from Spark Capital
- Spark Capital Growth Fund V, L.P. 2023
- Spark Capital VIII, L.P. 2023
- Spark Capital Growth Founders' Fund IV, L.P. 2022
- Spark Capital Founders' Fund VII, L.P. 2022
- Spark Capital Growth Fund IV, L.P. 2021
- Spark Capital VII, L.P. 2021
- Spark Capital Growth Founders' Fund III, L.P. 2019
- Spark Capital Founders' Fund VI, L.P. 2019
- Spark Capital VI, L.P. 2018
- Spark Capital Growth Fund II, L.P. 2016
- Spark Capital V, L.P. 2016
- Spark Capital Growth Founders' Fund II, L.P. 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 805-8909685741. Data updated October 13, 2026.
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