Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.

Funds / Sunstone Partners II, LP

Sunstone Partners II, LP

MatureUnknownFundADV: Venture Capital FundSunstone PartnersDelaware
Amounts, each with its basis
Vintage
2019basis: adv first reported
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
$375Mwhat may be sold, not what was raised; file 021-346182, sworn by the adviser or filed under this vehicle
Form D sold
$0as of the filing of Aug 9, 2019
First sale
unknown
Reported GAV
$0on the Form ADV filed Dec 17, 2019; the fund's assets, never its size or dry powder
Owners (ADV)
18
Reported on ADV
Aug 22, 2019 to Dec 17, 2019
Fundraising evidence
Unknown
latest Form D 2019-08-09, older than 15 months (fr-1)
evidence dated Aug 9, 2019. 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
Mature
vintage 4 to 7 years
age years: 7first sale: n/avintage year: $2,019adv gav as of: 2019-12-17vintage basis: adv_first_reportedform d sold usd: 0form d offering usd: $375Mform d latest filed at: 2019-08-09
The fund's own reporting through time
2 Form ADV filings
FiledTypeGross asset value OwnersMin. investmentAdviser-ownedAudit
Aug 22, 2019Venture Capital Fund$0
18$100,0002%yes
Dec 17, 2019Venture Capital Fund$0
18$100,0002%yes
Principals and agents
3 principals on Form D, 0 placement agents
Limited partners and their reported performance
2 public LP reports
LPVintage (LP’s)CommittedPaid inDistributedRemaining valueNet IRRMultipleAs of
Los Angeles City Employees' Retirement System lacers.org2020n/an/an/an/a17.8%1.6xDec 31, 2025
Los Angeles City Employees' Retirement System lacers.org2019$10.0Mn/an/an/anot meaningful yetunknownAug 16, 2019

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. Dec 31, 2025
    LACERS reports Sunstone Partners II: an undisclosed amount committed, vintage 2020, net IRR 17.8%, 1.58x
    LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
  2. Aug 22, 2019
    Sunstone Partners II, LP first reported on Form ADV by Sunstone Partners (Venture Capital Fund)
    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)
  3. Aug 16, 2019
    LACERS commits $10,000,000 to Sunstone Partners II (Sunstone), closed 2019-08-16, existing relationship
    LP commitment closed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
  4. Aug 9, 2019
    Sunstone Partners II, LP filed Form D: no sales yet of $375,000,000, Private Equity Fund
    Form D filed Fact SEC EDGAR Form D data sets (quarterly)
Evidence
30 observations
Every observation on this vehicle