Xiang HE Fund II, L.P.
Xiang He Capital · adviser of record: Xiang HE Management Services, Inc. · 2018 vintage
Xiang HE Fund II, L.P. is a 2018 venture fund managed by Xiang He Capital, with $378mm raised (Form D, amount sold). It reported $689mm in gross assets at year-end 2025, 1.82x its size, its highest reported value.
- Latest value held
- $689mm year-end 2025
- Peak
- $689mm year-end 2025
- Fund size
- $378mm Form D, amount sold
- Held vs. size
- 1.82x peak 1.82x
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 | $689mm | 1.82x | +30% over 2 yrs |
| 2023 | $528mm | 1.40x | -2% |
| 2022 | $540mm | 1.43x | -1% |
| 2021 | $544mm | 1.44x | +26% |
| 2020 | $431mm | 1.14x | +2% |
| 2019 | $423mm | 1.12x | +179% |
| 2018 | $152mm | 0.40x | – |
Other funds from Xiang He Capital
- Xiang HE Fund III L.P. 2022
- Xiang HE Fund Epsilon, L.P. 2021
- Xiang HE Fund Delta, L.P. 2020
- Xiang HE Fund Gamma, L.P. 2020
- Xiang HE Fund I Alpha, L.P. 2018
- Xiang HE Fund I Beta, L.P. 2018
- Xiang HE Fund I, L.P. 2015
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 805-8204249442. Data updated October 13, 2026.
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