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 / Khosla Ventures Excelsior, L.P.

Khosla Ventures Excelsior, L.P.

Active deploymentClosed to new capitalFundADV: Venture Capital FundKhosla Ventures, LLCDelaware
Amounts, each with its basis
Vintage
2023basis: form d first sale
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
$1.0Bwhat may be sold, not what was raised; file 021-482795, sworn by the adviser or filed under this vehicle
Form D sold
$1.0Bas of the filing of May 26, 2023, 2 investors
First sale
May 18, 2023
Reported GAV
$748Mon the Form ADV filed Sep 14, 2026; the fund's assets, never its size or dry powder
Owners (ADV)
2
Reported on ADV
Mar 27, 2024 to Sep 14, 2026
Fundraising evidence
Closed to new capital
Form D filed or amended 2023-05-26: the stated $1.0bn offering reported fully sold (fr-1)
evidence dated May 26, 2023. 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
Active deployment
vintage 2 to 4 years
age years: 3first sale: 2023-05-18vintage year: $2,023adv gav as of: 2026-09-14vintage basis: form_d_first_saleform d sold usd: $1.0Bform d offering usd: $1.0Bform d latest filed at: 2023-05-26
The fund's own reporting through time
2 Form ADV filings
FiledTypeGross asset value OwnersMin. investmentAdviser-ownedAudit
Mar 27, 2024Venture Capital Fund$38.8M
2$100,0001%yes
Sep 14, 2026$748M
2$100,0000%
Principals and agents
5 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
New York State Common Retirement Fund osc.ny.gov2023$600M$285M$0$322Mnot meaningful yet1.1xMar 31, 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
3 events
  1. Mar 31, 2025
    NYSCRF reports Khosla Ventures Excelsior, LP: $600,000,000 committed, vintage 2023
    LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
  2. Mar 27, 2024
    Khosla Ventures Excelsior, L.P. first reported on Form ADV by Khosla Ventures, LLC (Venture Capital Fund), GAV $38,833,130
    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. May 26, 2023
    Khosla Ventures Excelsior, L.P. filed Form D: $1,000,000,000 sold of $1,000,000,000, Venture Capital Fund
    Form D filed Fact SEC EDGAR Form D data sets (quarterly)
Evidence
17 observations
Every observation on this vehicle