TF Capital Fund III L.P.
TF Capital · adviser of record: TF Venture Capital Management CO., LTD. · 2018 vintage
TF Capital Fund III L.P. is a 2018 venture fund managed by TF Capital, with $40.4mm raised (Form D, amount sold). It reported $320mm in gross assets at year-end 2025, 7.94x its size, against a peak of $485mm in 2021.
- Latest value held
- $320mm year-end 2025
- Peak
- $485mm year-end 2021
- Fund size
- $40.4mm Form D, amount sold
- Held vs. size
- 7.94x peak 12.01x
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 | $320mm | 7.94x | -29% over 2 yrs |
| 2023 | $449mm | 11.12x | -7% |
| 2022 | $485mm | 12.01x | +0% |
| 2021 | $485mm | 12.01x | – |
Other funds from TF Capital
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 805-8795786629. Data updated October 13, 2026.
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