Progression Fund
SlowingFiled to raiseSan Francisco, CAGaming & entertainment, Biotech & pharma, Climate & energyLast fund filed 2025
4 on a current fund
last 24 months
across filed funds
| Vehicle | Filed | Target | Sold to date | Investors |
|---|---|---|---|---|
| Progression Fund IIIFiled to raise in 2025, with no closing reported yet. | 2025 | Indefinite | $0 | 0 |
| Progression Fund II | September 2021 | Indefinite | $1.3M | 6 |
| Progression Fund I | July 2020 | $10M | $7.6M | 63 |
Amounts are Item 13 as filed: the target is the whole offering, and the amount sold is cumulative across amendments rather than a final close. The filing carries no per-investor amount, so a firm’s own cheque is not recoverable here.
6 partners are named across this firm’s filings, 4 of them on a fund it is deploying now.
| Partner | Activity | Categories | Board seats | Last 24mo |
|---|---|---|---|---|
| Matthew Lee | Slowing | Biotech & pharma, Climate & energy, E-commerce & marketplaces | 7 |
Categories of Progression Fund’s own portfolio companies, based on 7 with a verified or cited source.
No other firm shares a filed board seat with Progression Fund yet. That is a gap in what we have read, not a claim that Progression Fund invests alone.
A shared board seat: a company where filings name a Progression Fund partner and a partner at the other firm, both with a clean identity match. Not a claim either firm led or co-led the round, only that both are named on the same board.
| 1 |
| Alex HofmannNot on the current fund | Quiet | None listed | 0 | 0 |
| James VeraldiNot on the current fund | Quiet | None listed | 0 | 0 |
| John Aguhob | Quiet | None listed | 0 | 0 |
| Mark Linao | Quiet | Gaming & entertainment | 1 | 0 |
| Tomoya Ogawa | Quiet | Crypto & web3 | 1 | 0 |
Activity is filed board seats in the last 24 months: 4+ Active, 2–3 Selective, 1 Slowing, none Quiet. A firm's tier totals its partners, so an active firm may be four partners with one seat each. It undercounts partners who invest without taking a board seat, and filings lag a closing by weeks, so Quiet means the paperwork is quiet, not the person.
Not a filing value: this is Lev’s own classification of each company, one company one vote regardless of how many of Progression Fund’s partners are named on its board, shown only when we found a specific, checkable source. Companies with no source read as unclassified and are left out of the shares above.