GSV Investors I, LP
2019 Vintage
⚠ Sep 30 2025 · Preliminary
Capital Called
$17.9M 100%
Total Invested
$15.2M 85%
| Metric |
LP Only |
Total Fund |
| TVPI | 1.90× | 2.13× |
| DPI | 0.12× | 0.12× |
| RVPI | 1.78× | 2.01× |
| Net IRR | 16.95% | 20.04% |
| Total Value | $34,096,493 | $38,162,247 |
| NAV | $31,889,285 | $35,955,039 |
| Distributions | $2,207,208 | $2,207,208 |
| Capital Contributions | $17,900,000 | $17,900,000 |
Last updated Sep 30, 2025 · Preliminary — excludes carry, subsequent closes & accruals
GSV Investors II, LP
2022 Vintage
⚠ Sep 30 2025 · Preliminary
Capital Called
$62.4M 91%
Total Invested
$51.8M 76%
| Metric |
LP Only |
Total Fund |
| TVPI | 1.81× | 2.02× |
| DPI | 0.00× | 0.00× |
| RVPI | 1.81× | 2.02× |
| Net IRR | 33.58% | 40.74% |
| Total Value | $107,294,530 | $126,092,109 |
| NAV | $107,294,530 | $125,946,043 |
| Distributions | $0.00 | $146,066 |
| Capital Contributions | $59,329,906 | $62,415,781 |
Last updated Sep 30, 2025 · Preliminary — excludes carry, subsequent closes & accruals
Agg. GSV ARR (Q4-25)
$220.3M
Combined F1 + F2
Fund I ARR (Q4-25)
$101.4M
↓ -24.0% CAGR (declining)
Fund II ARR (Q4-25)
$118.9M
↑ +49.9% CAGR (growing)
Peak Agg. ARR
$225.9M
Q2-23 · Fund I peak
ARR by Quarter ($M)
Fund I
Fund II
Aggregate
GSV Value (Blended)
$37.1M
11 active companies
Capital Deployed
$14.9M
$16.9M called total
Top Performer MOIC
7.52×
Kare (blended)
| Company |
Capital Deployed |
GSV % |
ARR |
GSV Value |
MOIC |
| Brokerage Engine |
$2,069,288 |
13.38% |
$4,915,667 |
$4,670,110 |
2.26× |
| Freight Train |
$1,000,000 |
11.71% |
$1,202,735 |
$988,288 |
0.99× |
| Kare |
$2,915,193 |
14.70% |
$86,742,490 |
$21,919,196 |
7.52× |
| MXTR |
$1,400,000 |
17.00% |
$921,375 |
$856,634 |
0.61× |
| QMSC |
$1,194,687 |
25.00% |
$406,656 |
$800,672 |
0.67× |
| System Surveyor |
$882,477 |
13.45% |
$4,247,956 |
$3,284,052 |
3.72× |
| Tango |
$995,000 |
15.18% |
$891,434 |
$741,075 |
0.74× |
| TaxTaker |
$820,000 |
12.00% |
$1,818,503 |
$1,221,461 |
1.49× |
| Trusted Dispatch |
$1,027,400 |
11.00% |
$283,380 |
$531,780 |
0.52× |
| GSV Total |
$14,944,046 |
— |
— |
$37,073,315 |
2.48× |
| GSV Fund I LP · Capital Called $16,948,008 |
— |
— |
1.95× |
TVPI |
| Accelerist |
$1,140,000 |
— |
— |
— |
0.00× |
| HLA |
$750,000 |
— |
— |
$2,060,047 |
2.75× |
| Statera |
$750,000 |
— |
— |
— |
EXIT |
| Company |
Tier |
Status |
ARR |
GSV Value |
Exp. Value |
Strategy |
Next Steps |
| Brokerage Engine |
Green |
Active |
$4,915,667 |
$4,670,110 |
$3,736,088 |
M&A |
New CEO/M&A |
| Freight Train |
Yellow |
Active |
$1,202,735 |
$988,288 |
$790,630 |
M&A |
Nurture |
| Kare |
Green |
Active |
$86,742,490 |
$21,919,196 |
$21,919,196 |
Nurture |
Nurture |
| MXTR |
Red |
Active |
$921,375 |
$856,634 |
$0 |
M&A |
FF Takeover |
| QMSC |
Red |
Active |
$406,656 |
$800,672 |
$400,336 |
Cash Flow |
Nurture |
| System Surveyor |
Yellow |
Active |
$4,247,956 |
$3,284,052 |
$2,627,242 |
M&A |
Nurture |
| Tango |
Red |
Active |
$891,434 |
$741,075 |
$370,538 |
M&A |
M&A |
| TaxTaker |
Yellow |
Active |
$1,818,503 |
$1,221,461 |
$977,169 |
M&A |
M&A |
| Trusted Dispatch |
Red |
Active |
$283,380 |
$531,780 |
$265,890 |
Cash Flow |
New CEO/M&A |
| Active Total |
$35,013,268 |
$31,087,088 |
|
| Accelerist |
Red |
Foreclosure |
Exited |
$0 |
$0 |
Finalized |
In foreclosure w/ FF |
| HLA |
Green |
Finalized |
Exited |
$2,060,047 |
$2,060,047 |
Finalized |
Earnout underway |
| Statera |
Red |
Finalized |
Exited |
$0 |
$0 |
Finalized |
No recovery |
Source: GS Value Tracker · Dec 2025 · Active holdings only shown in totals
Source: GS Value Tracker · Dec 2025
GSV Value (Blended)
$128.3M
38 active companies
Blended TVPI (LP)
1.88×
vs. 3P-Based 1.35×
Capital Deployed
$47.7M
$61.0M called total
Top Performer MOIC
13.77×
Augment
| Company |
Capital Deployed |
GSV % |
ARR |
GSV Value |
MOIC |
| Allegrow |
$1,000,000 |
16.00% |
$1,031,635 |
$1,622,115 |
1.62× |
| Augment |
$2,560,600 |
9.64% |
$14,933,998 |
$35,267,408 |
13.77× |
| Bevz |
$1,774,372 |
40.00% |
$740,148 |
$2,940,406 |
1.66× |
| Boostpoint |
$950,000 |
15.00% |
$928,133 |
$1,989,985 |
2.09× |
| Brokerage Engine (F2) |
$150,000 |
0.60% |
— |
$168,278 |
1.12× |
| CardMedic |
$550,000 |
9.00% |
— |
$897,312 |
1.63× |
| Downstream |
$2,200,000 |
11.00% |
$12,341,004 |
$4,226,166 |
1.92× |
| Empowerlocal |
$550,000 |
7.00% |
— |
$1,314,861 |
2.39× |
| EZ Turn |
$250,000 |
5.00% |
$724,151 |
$394,945 |
1.58× |
| FreightTrain (F2) |
$100,000 |
2.00% |
— |
$120,749 |
1.21× |
| GrowerIQ |
$1,726,810 |
21.00% |
$3,337,126 |
$5,213,508 |
3.02× |
| iSite Media |
$300,000 |
3.00% |
— |
$339,705 |
1.13× |
| Leni |
$450,000 |
3.84% |
$1,141,092 |
$1,510,482 |
3.36× |
| Lynx Ventures |
$250,000 |
6.00% |
$33,000 |
$398,370 |
1.59× |
| Melboss Music |
$500,000 |
8.00% |
— |
$846,667 |
1.69× |
| Monetor |
$250,000 |
— |
$3,654,745 |
— |
0.00× |
| Noble Telehealth |
$500,000 |
6.00% |
$3,487,758 |
$1,163,922 |
2.33× |
| Parsempo |
$250,000 |
4.00% |
$11,388 |
$402,425 |
1.61× |
| PartRunner |
$250,000 |
3.00% |
$12,080,856 |
$748,797 |
3.00× |
| Payeload |
$11,073,990 |
29.00% |
$18,197,898 |
$25,267,230 |
2.28× |
| Publica.la |
$1,410,000 |
23.00% |
$2,430,956 |
$3,026,829 |
2.15× |
| Shoreless |
$500,000 |
8.00% |
— |
$599,147 |
1.20× |
| Sierra Medical |
$250,000 |
6.00% |
— |
$406,452 |
1.63× |
| Sinecure |
$2,550,000 |
24.00% |
$6,472,764 |
$12,468,682 |
4.89× |
| Skribe |
$100,000 |
1.00% |
$1,814,946 |
$113,272 |
1.13× |
| Snappy |
$2,881,944 |
16.00% |
$9,473,149 |
$8,981,284 |
3.12× |
| SocialLadder |
$2,500,000 |
16.00% |
$2,881,489 |
$3,539,031 |
1.42× |
| SquareStack |
$250,000 |
6.00% |
$510,299 |
$411,219 |
1.64× |
| TapRm |
$500,000 |
— |
$12,080,856 |
$250,000 |
0.50× |
| The Zone |
$250,000 |
3.00% |
— |
$393,411 |
1.57× |
| TOMIS |
$2,700,000 |
28.00% |
$4,446,823 |
$6,545,758 |
2.42× |
| Valkre |
$1,146,000 |
7.10% |
— |
$1,003,977 |
0.88× |
| VanHack |
$3,000,000 |
16.00% |
$5,546,791 |
$4,894,110 |
1.63× |
| VerityPay |
$250,000 |
— |
$1,141,092 |
$407,822 |
1.63× |
| Vikua |
$250,000 |
5.00% |
$317,482 |
$406,452 |
1.63× |
| GSV Total |
— |
— |
$47,673,716 |
$128,280,776 |
2.69× |
| GSV Fund II LP · Capital Called $60,975,666 |
— |
— |
1.88× |
TVPI |
| Arcanium Ventures |
$250,000 |
— |
— |
— |
0.00× |
| BizBiz Global |
$250,000 |
— |
— |
— |
0.00× |
| Champion 40a |
$500,000 |
— |
— |
— |
0.00× |
| StoryBolt |
$250,000 |
— |
— |
— |
0.00× |
| Virtual First |
$250,000 |
— |
— |
— |
0.00× |
| Walkboard |
$2,000,000 |
— |
— |
— |
0.00× |
| Company |
Tier |
ARR |
GSV Value |
Exp. Value |
Strategy |
Next Steps |
| Allegrow | Yellow | $1,031,635 | $1,622,115 | $1,622,115 | Recap | Dividend recap? |
| Augment | Green | $14,933,998 | $35,267,408 | $35,267,408 | Secondary? | Wait for exit |
| Bevz | Yellow | $740,148 | $2,940,406 | $2,940,406 | Cash Flow | Merging w/ Tango |
| Boostpoint | Yellow | $1,031,635 | $1,989,985 | $1,989,985 | Recap? | Recap negotiation |
| Brokerage Engine (F2) | Green | $4,915,667 | $168,278 | $168,278 | — | — |
| CardMedic | Red | — | $897,312 | $897,312 | — | Discovery |
| Downstream | Green | $12,341,004 | $4,226,166 | $4,226,166 | Secondary? | Wait for exit |
| Empowerlocal | Yellow | — | $1,314,861 | $1,314,861 | Secondary? | Wait for raise |
| EZ Turn | Red | $928,133 | $394,945 | $394,945 | — | Discovery |
| FreightTrain (F2) | Green | $1,202,735 | $120,749 | $120,749 | — | — |
| GrowerIQ | Yellow | $3,337,126 | $5,213,508 | $5,213,508 | Recap | Note extension? |
| iSite Media | Green | — | $339,705 | $339,705 | — | — |
| Leni | Yellow | $3,487,758 | $1,510,482 | $1,510,482 | M&A | Discovery |
| Lynx Ventures | Red | $378,600 | $398,370 | $398,370 | Wind-down? | Discovery |
| Melboss Music | Yellow | — | $846,667 | $846,667 | — | Discovery |
| Monetor | Red | $3,654,745 | $0 | $0 | VP? | Discovery |
| Noble Telehealth | Yellow | $724,151 | $1,163,922 | $1,167,000 | Recap | Awaiting response |
| Parsempo | Red | $33,000 | $402,425 | $402,425 | Wind-down? | Discovery |
| PartRunner | Yellow | $1,273,666 | $748,797 | $748,797 | — | SPV/Sponsor |
| Payeload | Green | $18,197,898 | $25,267,230 | $25,267,230 | Cash Flow | Restructure |
| Publica.la | Yellow | $2,430,956 | $3,026,829 | $3,026,829 | M&A | IB-led / Customer |
| Shoreless | Green | — | $599,147 | $599,147 | Secondary? | Wait for exit |
| Sierra Medical | Red | — | $406,452 | $406,452 | VP? | Discovery |
| Sinecure | Yellow | $6,472,764 | $12,468,682 | $12,468,682 | Secondary? | Wait for raise |
| Skribe | Green | $82,596 | $113,272 | $113,272 | — | — |
| Snappy | Green | $9,473,149 | $8,981,284 | $8,981,284 | Secondary? | Pricing increase |
| SocialLadder | Yellow | $2,881,489 | $3,539,031 | $3,539,031 | M&A | Dividend recap? |
| SquareStack | Red | $11,388 | $411,219 | $411,219 | Wind-down? | Discovery |
| TapRm | Red | $12,080,856 | $250,000 | $250,000 | — | Wait for exit |
| The Zone | Red | — | $393,411 | $393,411 | Recap? | Discovery |
| TOMIS | Green | $4,446,823 | $6,545,758 | $6,545,758 | M&A | Banker intros? |
| Valkre | Green | — | $1,003,977 | $1,003,977 | Raise | Raise Series A |
| VanHack | Green | $5,546,791 | $4,894,110 | $4,894,110 | M&A | Dividend recap? |
| VerityPay | Red | $1,141,092 | $407,822 | $407,822 | Recap? | Recap negotiation |
| Vikua | Red | $510,299 | $406,452 | $406,452 | Recap? | Wait for exit |
| Active Total |
$127,991,748 |
$127,994,826 |
|
| Arcanium Ventures | Red | Exited | $0 | $0 | Finalized | — |
| BizBiz Global | Red | Exited | $0 | $0 | Finalized | — |
| Champion 40a | Red | Exited | $0 | $0 | Finalized | — |
| StoryBolt | Red | Exited | $0 | $0 | Finalized | — |
| Virtual First | Red | Exited | $0 | $0 | Finalized | — |
| Walkboard | Red | Exited | $0 | $0 | Finalized | — |
Source: GS Value Tracker · Dec 2025 · Cash DPI = $0 · Active holdings only shown in totals
Source: GS Value Tracker · Dec 2025
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