← HongShan Capital

HongShan Capital Venture Fund IX, L.P.

HongShan CapitalVINTAGE 2022

NET IRR

-6.4%

TVPI

0.92x

DPI

0.00x

COMMITMENT

$32M

LP SOURCES

4

VALUATION SPREAD0.89x – 0.92x TVPI across 2 sources

CROSS-REFERENCE TABLE

LP SOURCE	AS OF	COMMITMENT	PAID IN	NET IRR	TVPI	DPI	DOC
CalPERS	2025-09-30	$32M	$13.1M	-6.4%	0.92x	0.00x	SOURCE ↗◆
CPPIB	2025-09-30	$23M	$8M	—	—	—	SOURCE ↗◆
UTIMCO	2025-08-31	—	—	—	—	—	SOURCE ↗◆
UC Regents	2025-06-30	$30M	$10.5M	—	0.89x	0.00x	SOURCE ↗◆