Khosla Ventures IV

About this data

Los Angeles City Employees' Retirement System (LACERS): LACERS Private Equity Portfolio Performance Report, as of December 31, 2025. "Net IRR" and "Net TVPI" as printed in the fund-by-fund appendix of the Private Equity Portfolio Performance Report that LACERS posts semiannually (prepared on its private equity consultant's template; the cover gives www.aksia.com). The report defines TVPI as (cumulative distributions + fair market value) / cumulative contributions and labels IRRs of investments held less than two years "n.m."; 27 funds have no IRR (n.m., or "-" in the report) and 14 have no multiple ("-", mostly commitments with nothing contributed yet), all shown as blank. Dollar amounts are whole US dollars as reported (inception-to-date contributions and distributions). Total value = distributions + fair market value, and DPI = distributions / contributions, are computed. All 408 partnerships in the report are included: 305 active and 103 liquidated (no remaining fair market value), of which 23 are in LACERS' Specialized Portfolio and the rest in its Core Portfolio. LACERS counts 36 Credit/Distressed and 15 Natural Resources (energy) partnerships as private equity in this report, alongside buyout, growth equity, venture capital, secondaries, co-investment and fund-of-funds vehicles; its separate private credit and real estate reports are not imported. View source

University of California: UC Regents Private Equity Investments (Alternative Investments: Private Equity Internal Rates of Return), as of June 30, 2025. Net IRR and total value multiple as reported by the UC Regents; IRRs are calculated by a third-party service provider from UC's own cash flows and may differ from the GP's. Vintage year is based on first cash flow. Funds in their first three years are reported as NM (shown as blank). Active partnerships only; exited funds are not listed. View source

Alameda County Employees' Retirement Association (ACERA): ACERA Annual Report on Alternative Investments (Government Code Section 7514.7 Disclosures Chart), as of December 31, 2024. From the Alternative Investment Vehicle (AIV) Disclosures Chart that ACERA staff present to the Investment Committee each December under California Government Code Section 7514.7, for the period ending 2024-12-31 (ACERA's fiscal year is the calendar year). The chart says it is prepared by ACERA from its own records and the fund managers' reports and has not been prepared, reviewed or approved by the fund managers. Net IRR is the chart's "Net IRR (Since Inception)" and TVPI its "Investment Multiple (Since Inception)", both as printed; for 36 funds the printed multiple differs from (Cash Distributions + NAV) / Cash Contributions, and DPI is left blank. Amounts are whole US dollars as printed: Commitment, "Cash Contributions (Since Inception)", and "Cash Distributions", which the chart heads "(FY 2024)" on a fiscal-year-end basis and which are cumulative to that date; total value is the printed "Cash Distributions + NAV". Vintage is the chart's "Vintage Year". 3 recent commitments with no NAV yet ("N/A") have only a commitment; 7 funds have no Net IRR ("N/A"), and for 4 more the chart gives a time-weighted return instead of an IRR, which is left blank. The chart lists all 115 alternative investment vehicles together and does not separate asset classes, so besides private equity and venture funds it includes private credit, real estate, infrastructure and other real assets funds; all are included as listed. 46 funds contracted before 2017 are not required to report under Section 7514.7 and are shown where the manager shared the information voluntarily. 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.