Swan & Legend Fund 4, LP
Swan & Legend · adviser of record: Swan & Legend Advisors, LLC · 2017 vintage
Swan & Legend Fund 4, LP is a 2017 venture fund managed by Swan & Legend, with $110mm raised (Form D, amount sold). It reported $55.1mm in gross assets at year-end 2025, 0.50x its size, against a peak of $157mm in 2021.
- Latest value held
- $55.1mm year-end 2025
- Peak
- $157mm year-end 2021
- Fund size
- $110mm Form D, amount sold
- Held vs. size
- 0.50x peak 1.43x
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 | $55.1mm | 0.50x | -48% over 2 yrs |
| 2023 | $105mm | 0.96x | -33% |
| 2022 | $157mm | 1.43x | +0% |
| 2021 | $157mm | 1.43x | +355% |
| 2020 | $34.6mm | 0.32x | +0% |
| 2019 | $34.6mm | 0.32x | +0% |
| 2018 | $34.6mm | 0.32x | – |
Other funds from Swan & Legend
- Swan Hospitality 4 LLC 2021
- Swan Media 1 LLC 2020
- Swan Hospitality 3 LLC 2020
- Swan Hospitality 2 LLC 2019
- Swan & Legend Fund 3, LP 2015
- Swan & Legend Fund 2, 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 805-1433631543. Data updated October 13, 2026.
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