Zhen Partners Fund IV, L.P.
ZhenFund · adviser of record: Zhen Advisors, LTD. · 2015 vintage
Zhen Partners Fund IV, L.P. is a 2015 venture fund managed by ZhenFund, with $150mm raised (Form D, amount sold). It reported $435mm in gross assets at year-end 2025, 2.90x its size, against a peak of $1.36bn in 2020.
- Latest value held
- $435mm year-end 2025
- Peak
- $1.36bn year-end 2020
- Fund size
- $150mm Form D, amount sold
- Held vs. size
- 2.90x peak 9.06x
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 | $435mm | 2.90x | -10% over 2 yrs |
| 2023 | $485mm | 3.23x | -8% |
| 2022 | $528mm | 3.52x | -20% |
| 2021 | $656mm | 4.37x | -52% |
| 2020 | $1.36bn | 9.06x | +155% |
| 2019 | $533mm | 3.55x | +51% |
| 2018 | $352mm | 2.35x | +61% |
| 2017 | $218mm | 1.45x | +37% |
| 2016 | $159mm | 1.06x | +6% |
| 2015 | $150mm | 1.00x | – |
Other funds from ZhenFund
- Zhen Partners Fund VII, L.P. 2022
- Zhen Fund Coxviii LLC 2022
- Zhen Fund Coxv LLC 2021
- Zhen Fund Coxiv LLC 2021
- Zhen Fund Coxiii LLC 2021
- Zhen Fund Coxvi LLC 2021
- Zhen Partners Fund VI, L.P. 2020
- Zwco LLC 2020
- Zhen Fund Coix LLC 2020
- Zhen Fund Coxii LLC 2020
- Zhen Fund Coiv LLC 2019
- Zhen Fund Cov 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 805-1200227695. Data updated October 13, 2026.
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