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Funds / L•• B••••••••• F••• I•• L•••

L•• B••••••••• F••• I•• L•••

UnknownUnknownFundADV: Venture Capital FundL•• A••••••• M••••••••• C•••••• L••••••Cayman Islands
Amounts, each with its basis
Vintage
unknownno dated first sale or first report yet
Target
unknownnot announced
First close
unknownnever inferred from a Form D
Final close
unknownonly from an announcement or an LP disclosure
Announced size
unknown
Form D offering
$450Mwhat may be sold, not what was raised; file 021-280999, sworn by the adviser or filed under this vehicle
Form D sold
$0as of the filing of Feb 21, 2017
First sale
unknown
Reported GAV
$1.2Bon the Form ADV filed Mar 25, 2024; the fund's assets, never its size or dry powder
Owners (ADV)
57
Reported on ADV
Jun 20, 2017 to Mar 25, 2024
Fundraising evidence
Unknown
latest Form D 2017-02-21, older than 15 months (fr-1)
evidence dated Feb 21, 2017. A Form D offering is permission to sell, not a fund in market; an amount sold is never a close; an evergreen offering amended every year is not a raise.
Lifecycle
Unknown
no vintage and no recent Form D
first sale: n/avintage year: n/aadv gav as of: 2024-03-25vintage basis: n/aform d sold usd: 0form d offering usd: $450Mform d latest filed at: 2017-02-21
The fund's own reporting through time
11 Form ADV filings
FiledTypeGross asset value OwnersMin. investmentAdviser-ownedAudit
Jun 20, 2017Venture Capital Fund$459M
532%yes
Jul 11, 2017Venture Capital Fund$459M
532%yes
Apr 2, 2018Venture Capital Fund$450M
532%yes
Mar 29, 2019Venture Capital Fund$405M
532%yes
Apr 3, 2019Venture Capital Fund$405M
532%yes
Mar 30, 2020Venture Capital Fund$809M
562%yes
Mar 19, 2021Private Equity Fund$1.4B
562%yes
May 4, 2021Private Equity Fund$1.4B
562%yes
Mar 23, 2022Private Equity Fund$1.4B
562%yes
Mar 27, 2023Venture Capital Fund$1.2B
562%yes
Mar 25, 2024Venture Capital Fund$1.2B
572%yes
Principals and agents
1 principals on Form D, 0 placement agents
Limited partners and their reported performance
1 public LP report
LPVintage (LP’s)CommittedPaid inDistributedRemaining valueNet IRRMultipleAs of
C••••••••• S•••• T•••••••• R••••••••• S••••• calstrs.com2017$40.0M$47.3M$40.1M$49.1M14.8%1.9xJun 30, 2025

Each row is the LP’s own number: its cash flows and its valuation policy as of its reporting date, not the fund’s. Net IRR is printed only when the LP prints one. The vintage is the LP’s definition (CalPERS: year of its first cash flow; WSIB: year of its initial investment).

Investments attributed to this vehicle
0
No investment attributed to this vehicle. The firm’s investments sit on the firm; a fund gets one only when a source names the vehicle.
Timeline
4 events
  1. Jun 30, 2025
    CalSTRS reports L•• B••••••••• F••• I•• L•••: $40,000,000 committed, vintage 2017, net IRR 14.8%, 1.88x
    LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
  2. Jun 30, 2025
    CalSTRS reports L•• B••••••••• F••• I•• L•••: $40,000,000 committed, vintage 2017, net IRR 14.8%, 1.88x
    LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
  3. Jun 20, 2017
    L•• B••••••••• F••• I•• L••• first reported on Form ADV by L•• A••••••• M••••••••• (Venture Capital Fund), GAV $459,183,673
    Fund first reported on Form ADV Fact SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  4. Feb 21, 2017
    L•• B••••••••• F••• I•• L••• filed Form D: no sales yet of $450,000,000, Venture Capital Fund
    Form D filed Fact SEC EDGAR Form D data sets (quarterly)
Evidence
15 observations
Every observation on this vehicle