Ulu Ventures Fund III, L.P.
Ulu Ventures · adviser of record: Ulu Ventures Management Company, LLC · 2019 vintage
Ulu Ventures Fund III, L.P. is a 2019 venture fund managed by Ulu Ventures, with $122mm raised (Form D, amount sold). It reported $85.8mm in gross assets at year-end 2025, 0.70x its size, against a peak of $135mm in 2021.
- Latest value held
- $85.8mm year-end 2025
- Peak
- $135mm year-end 2021
- Fund size
- $122mm Form D, amount sold
- Held vs. size
- 0.70x peak 1.10x
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 | $85.8mm | 0.70x | -30% over 2 yrs |
| 2023 | $123mm | 1.01x | -5% |
| 2022 | $129mm | 1.06x | -4% |
| 2021 | $135mm | 1.10x | +5% |
| 2020 | $128mm | 1.05x | +115% |
| 2019 | $59.6mm | 0.49x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| LACERS | 2025-12-31 | $10mm | 0.00x | 0.64x | 0.64x |
| LAFPP | 2025-12-31 | $10mm | 0.00x | 0.64x | 0.64x |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
Other funds from Ulu Ventures
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 805-4191837142. Data updated October 13, 2026.
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