Velvet Sea Venture Capital Fund LP
VSV · adviser of record: VSV Management, LLC · 2019 vintage
Velvet Sea Venture Capital Fund LP is a 2019 venture fund managed by VSV, with $90.8mm raised (Form D, amount sold). It reported $88.3mm in gross assets at year-end 2025, 0.97x its size, against a peak of $158mm in 2021.
- Latest value held
- $88.3mm year-end 2025
- Peak
- $158mm year-end 2021
- Fund size
- $90.8mm Form D, amount sold
- Held vs. size
- 0.97x peak 1.74x
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 | $88.3mm | 0.97x | -7% over 2 yrs |
| 2023 | $95.1mm | 1.05x | -28% |
| 2022 | $133mm | 1.46x | -16% |
| 2021 | $158mm | 1.74x | +23% |
| 2020 | $128mm | 1.41x | +599% |
| 2019 | $18.3mm | 0.20x | – |
Other funds from VSV
- VSV CO-Invest IX, LLC 2023
- VSV CO-Invest VIII, LLC 2023
- VSV CO-Invest VII, LLC 2022
- Velvet Sea Venture Capital Fund II LP 2021
- VSV CO-Invest V LLC 2020
- VSV CO-Invest I, LLC 2019
- VSV CO-Invest II, LLC 2019
- VSV CO-Invest IV, LLC 2019
- M2 EZ LLC 2019
- VSV CO-Invest III , LLC 2019
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 805-2740759609. Data updated October 13, 2026.
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