BVP Forge Institutional II
Bessemer Venture Partners Vintage 2026 Reported by New Mexico Educational Retirement Board (NMERB)
What each LP reports
| LP | As of | Committed | Paid in | Distributed | Remaining value | Net IRR | TVPI | DPI | Paid in vs. value |
|---|---|---|---|---|---|---|---|---|---|
| New Mexico Educational Retirement Board (NMERB) | 2025-12-31 | $60M | $0M | $0M | $0M | N/M | — | — |
Paid in Distributed Remaining value
2026 vintage in New Mexico Educational Retirement Board (NMERB)’s portfolio
All 7 funds of vintage 2026 in New Mexico Educational Retirement Board (NMERB)’s report, ranked by net IRR. Private equity, venture, and other strategies are mixed, so treat this as context rather than a strategy benchmark.
| # | Fund | Net IRR | TVPI | DPI |
|---|---|---|---|---|
| 1 | Banner Ridge Small Buyouts I, LP | 24.6% | 1.25x | 0.00x |
| — | Battery Ventures XV, L.P. | N/M | — | — |
| — | BVP Forge Institutional II, L.P. | N/M | — | — |
| — | Lightyear Fund VI, L.P | N/M | — | — |
| — | OrbiMed Private Investments X, LP | N/M | — | — |
| — | QHP Private Equity Fund III, L.P. | N/M | — | — |
| — | SV 8 Biotech Fund LP | N/M | — | — |
Other reported funds by this firm
| Fund | Vintage | Net IRR | TVPI | Versus vintage |
|---|---|---|---|---|
| Bessemer Venture Partners India Institutional II | 2025 | -17.0% | 0.91x | Bottom quartile |
| Bessemer Venture Partners XII | 2024 | -4.5% | 0.97x | Third quartile |
| Bessemer Venture Partners XII Institutional | 2024 | N/M | — | |
| BVP Forge Institutional | 2023 | 15.4% | 1.22x | Bottom quartile |
| Bessemer Venture Partners XII Institutional Fund | 2022 | 24.9% | 1.21x | Top quartile |
| BVP Forge Institutional | — | N/M | — | |
| Bessemer Venture Partners XII Institutional | — | N/M | — |
About this data
New Mexico Educational Retirement Board (NMERB): NMERB Quarterly Private Markets Performance Report, as of December 31, 2025. IRR as printed under "SI IRR" (since inception) in the "Analysis by Fund" table of NMERB's Quarterly Private Markets Performance Report, which is prepared by NEPC, LLC. The report does not label the IRR net or gross: its glossary says the IRR takes into account the timing of cash contributions to and distributions from the partnerships and the reported value, and its disclosures say returns are reported net of manager fees unless otherwise noted. Commitment, cumulative contributions, cumulative distributions, "Total Value" (distributions plus the reported valuation), DPI and TVPI are the report's own columns, in whole US dollars as printed; nothing is derived. "Vintage Year" is as printed; the report does not define it. All 129 investments in the table's Private Equity block are included as NMERB classifies them (the report's strategies are buyouts, co-investment, distressed, energy, growth equity, mezzanine, secondaries, special situations and venture capital), adding up to the block's Sub Total of $5,875,976,473 committed, $5,087,374,565 contributed, $4,588,145,978 distributed and $8,267,554,475 total value. 8 commitments had nothing contributed yet: the report prints 0.00 multiples for them, shown here as blank, and 8 funds in all have no IRR. The table's Private Debt (15 funds) and Real Assets (5 funds) blocks are not imported, and NMERB's separate infrastructure and real estate and natural resources reports are not either. View source
Figures are as each LP reports them for its own investment, so they can differ between LPs because of timing, fees, and share class. Not investment advice.