Union Square Ventures 2004
Union Square Ventures Vintage 2004 Reported by Oregon State Treasury (OPERF)
What each LP reports
| LP | As of | Committed | Paid in | Distributed | Remaining value | Net IRR | TVPI | DPI | Paid in vs. value |
|---|---|---|---|---|---|---|---|---|---|
| Oregon State Treasury (OPERF) | 2026-03-31 | $25M | $22M | $307M | $0M | 66.9% | 13.82x | 13.78x |
Paid in Distributed Remaining value
2004 vintage in Oregon State Treasury (OPERF)’s portfolio
All 14 funds of vintage 2004 in Oregon State Treasury (OPERF)’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 | Union Square Ventures 2004 | 66.9% | 13.82x | 13.78x |
| 2 | First Reserve Fund X | 31.0% | 1.83x | 1.83x |
| 3 | Endeavour Capital Fund IV | 28.2% | 3.52x | 3.52x |
| 4 | Littlejohn Fund III | 25.4% | 2.37x | 2.37x |
| 5 | Lion Capital Fund I | 24.8% | 1.78x | 1.78x |
| 6 | OCM Opportunities Fund V | 14.2% | 1.65x | 1.65x |
| 7 | Aurora Equity Partners III | 13.2% | 1.65x | 1.65x |
| 8 | Elevation Partners | 11.8% | 1.57x | 1.57x |
| 9 | HarbourVest Partners 2004 Direct Fund | 10.5% | 1.80x | 1.80x |
| 10 | Oak Hill Capital Partners II | 9.9% | 1.59x | 1.59x |
| 11 | Providence Equity Partners V | 3.0% | 1.17x | 1.17x |
| 12 | Essex Woodlands Health Ventures Fund VI | 2.9% | 1.28x | 1.28x |
| 13 | Oregon Investment Fund (Series 1) | -2.1% | 0.87x | 0.87x |
| — | Markstone Capital Partners | N/M | 0.40x | 0.40x |
Other reported funds by this firm
| Fund | Vintage | Net IRR | TVPI | Versus vintage |
|---|---|---|---|---|
| USV 2024 | 2025 | N/M | 1.20x | |
| USV 2022 | 2022 | -1.8% | 0.96x | Bottom quartile |
| USV Climate 2022 | 2022 | -5.8% | 0.91x | Bottom quartile |
| USV Opportunity 2022 | 2022 | 13.9% | 1.26x | Top quartile |
| USV 2021 | 2021 | -7.3% | 0.77x | Bottom quartile |
| USV Climate 2021 | 2020 | 11.6% | 1.47x | Second quartile |
| USV 2019 | 2019 | 29.7% | 2.72x | Top quartile |
| USV Opportunity 2019 | 2019 | -2.5% | 0.88x | Bottom quartile |
| USV 2019 | 2018 | 30.4% | 2.80x | Top quartile |
| USV Opportunity 2019 | 2018 | -2.8% | 0.87x | Bottom quartile |
| USV 2016 | 2016 | 47.8% | 7.71x | Top quartile |
| USV 2014 | 2014 | 21.9% | 3.96x | Second quartile |
| USV Opportunity 2014 | 2014 | 39.2% | 6.07x | Top quartile |
| Union Square Ventures 2014 | 2014 | 21.7% | 3.91x | Second quartile |
| Union Square Ventures Opportunity 2014 | 2014 | 39.1% | 6.07x | Top quartile |
| Union Square Ventures 2012 | 2011 | 53.5% | 23.84x | Top quartile |
| Union Square Ventures 2012 Fund | 2011 | 53.4% | 23.75x | Top quartile |
| Union Square Ventures Opportunity Fund | 2010 | 58.4% | 3.58x | Top quartile |
| Union Square Ventures 2008 | 2008 | 20.8% | 4.35x | Top quartile |
| UNION SQUARE 2016 | — | N/M | — | |
| UNION SQUARE VENTURES 2008 | — | N/M | — | |
| UNION SQUARE VENTURES 2012 FUND | — | N/M | — | |
| UNION SQUARE VENTURES 2014 | — | N/M | — | |
| UNION SQUARE VENTURES OPPORTUNITY 2014 | — | N/M | — | |
| UNION SQUARE VENTURES OPPORTUNITY FUND | — | N/M | — |
About this data
Oregon State Treasury (OPERF): Oregon Public Employees Retirement Fund Private Equity Portfolio, as of March 31, 2026. Net of fees: IRR and total value multiple as reported by Oregon State Treasury ("Figures are net of fees"). Dollar amounts are reported in $ millions to one decimal and converted to whole dollars. Investments held less than three years are labeled n.m. (shown as blank). 94 funds were sold by OPERF in the secondary market; their figures reflect OPERF's holding period only. 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.