Waterline Ventures II, L.P.
Waterline Ventures · adviser of record: Waterline Ventures, LLC · 2016 vintage
Waterline Ventures II, L.P. is a 2016 venture fund managed by Waterline Ventures, with $15mm raised (Form D, amount sold). It reported $21.9mm in gross assets at year-end 2025, 1.46x its size, against a peak of $28mm in 2021.
- Latest value held
- $21.9mm year-end 2025
- Peak
- $28mm year-end 2021
- Fund size
- $15mm Form D, amount sold
- Held vs. size
- 1.46x peak 1.87x
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 | $21.9mm | 1.46x | +0% over 2 yrs |
| 2023 | $21.9mm | 1.46x | -22% |
| 2022 | $28mm | 1.87x | +0% |
| 2021 | $28mm | 1.87x | +70% |
| 2020 | $16.5mm | 1.10x | +4% |
| 2019 | $15.8mm | 1.06x | – |
Other funds from Waterline 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 805-1828370218. Data updated October 13, 2026.
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