Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.

Firms / Third Security, LLC

Third Security, LLC

Private equity with venture activity · probableRadford, VAthirdsecurity.comSEC registered investment adviser

Start innovating with biotechnology portfolio management at Third Security. We partner with operating biotech companies to drive growth and global impact.

registered adviser; venture funds are 6% of 25 private funds

Importance
31
moderate
Active deployment
0
low
Emerging
0
low
Completeness
63
high
Freshness
100
high
Research priority
6
low
Identity and regulatory footprint
Headquarters
Radford, VAadviserinfo.sec.gov
Office address
THE GOVERNOR TYLER, 1881 GROVE AVENUE, Radford, VA, 24141adviserinfo.sec.gov
Business phone
540-633-7900adviserinfo.sec.gov
Website
HTTP://WWW.THIRDSECURITY.COM
SEC adviser type
registered investment adviseradviserinfo.sec.gov
SEC exemption claimed
unknown
Latest Form ADV
Jun 30, 2020
Private funds reported
25 (0 venture capital funds)adviserinfo.sec.gov
Private fund gross assets
$787Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Regulatory AUM
$1.1Bthe adviser's RAUM, a regulatory measure, never a fund size
Employees
21
business phone
540-633-7900adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
no observed deals yet
Stated (the firm’s website)
Sectors
biotech
Stages
not stated or not yet read
Geography
global, virginia
Check size
not stated; DFX does not estimate checks from round sizes
Self-described
family office
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors: no observed deals yet
lead rate n/afollow-on rate n/anew logos, 12 months 0
Funds and vehicles
2 reported, 4 no longer reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
NRM VII Holdings I, LLCFund · ADV: Private Equity Fund2013 adv first reportedHarvest$48.7M
Jun 30, 2020
45unknownunknown
805-7600872608Fund · ADV: Private Equity FundunknownUnknown$74.3M
Jun 30, 2020
89unknownunknown
Valleys' Ventures, LPFund2014 adv first reportedWound down$193,374
Mar 31, 2017
14unknownunknown
805-8296735393Fund · ADV: Private Equity FundunknownWound down$620M
Mar 31, 2017
63unknownunknown
805-7280381163Fund · ADV: Private Equity FundunknownWound down$59.1M
Mar 30, 2016
37unknownunknown
805-9828390947FundunknownWound down$40.8M
Jan 13, 2015
13unknownunknown
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
7 current, 5 departed
Doit Leon Koppler
Managing Director & Treasurer · since Apr 1, 2001
Partner
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Julian Patrick Kirk
Managing Director · since Mar 1, 2004
Partner
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Randal Joe Kirk
Senior Managing Director & Chief Executive Officer · since Mar 1, 1999
Partner
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Sebastian Langbehn
Managing Director · since Jun 1, 2020
Partner
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Theodore John Fisher
Senior Managing Director · since Mar 1, 2020
Partner
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Clifton R Herndon
Managing Director & Controller · since Aug 1, 2007
Platform and operations
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Marcus Elbert Smith
Senior Managing Director, General Counsel & Chief Compliance Officer · since Mar 1, 1999
Platform and operations
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
5 departed (kept with end dates)
  • Jason Horton Gabriel · Managing Director · Jan 1, 2014 to Mar 30, 2020 Inference
  • Lisa M Moose · Managing Director · Aug 1, 1999 to Aug 11, 2014 Inference
  • Robert M. Patzig · Senior Managing Director & Chief Investment Officer · Mar 1, 1999 to Jan 7, 2015 Inference
  • Scott Horner · Managing Director · Aug 1, 2007 to Dec 12, 2012 Inference
  • Jeffrey Thomas Perez · Managing Director & Associate General Counsel · Jul 1, 2007 to Aug 27, 2014 Inference
Investments on record
0 edges, 0 companies, 0 partner-attributed
No investment on record yet. Edges arrive from the firm’s portfolio page, financing announcements, and Form D board seats.
Co-investors
0 relationships from shared deals, counted for the whole firm
No co-investor relationship yet: these are derived only from rounds and portfolio listings the graph has seen both investors on.
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
18 dated events
  1. Jun 1, 2020
    Sebastian Langbehn joined Schedule A of Third Security, LLC as Managing Director
    Person joinedPeopleFactSebastian LangbehnSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  2. Mar 30, 2020
    Jason Horton Gabriel (Managing Director) no longer on Schedule A of Third Security, LLC
    Person leftPeopleInferenceJason Horton GabrielSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  3. Mar 30, 2018
    805-8296735393 no longer reported on Form ADV by Third Security, LLC
    Fund no longer reportedFundsInference805-8296735393SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  4. Mar 30, 2018
    Valleys' Ventures, LP no longer reported on Form ADV by Third Security, LLC
    Fund no longer reportedFundsInferenceValleys' Ventures, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  5. Mar 31, 2017
    805-7280381163 no longer reported on Form ADV by Third Security, LLC
    Fund no longer reportedFundsInference805-7280381163SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  6. Mar 31, 2015
    805-9828390947 no longer reported on Form ADV by Third Security, LLC
    Fund no longer reportedFundsInference805-9828390947SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  7. Jan 7, 2015
    Robert M. Patzig (Senior Managing Director & Chief Investment Officer) no longer on Schedule A of Third Security, LLC
    Person leftPeopleInferenceRobert M. PatzigSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  8. Aug 27, 2014
    Jeffrey Thomas Perez (Managing Director & Associate General Counsel) no longer on Schedule A of Third Security, LLC
    Person leftPeopleInferenceJeffrey Thomas PerezSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  9. Aug 11, 2014
    Lisa M Moose (Managing Director) no longer on Schedule A of Third Security, LLC
    Person leftPeopleInferenceLisa M MooseSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  10. Mar 31, 2014
    Valleys' Ventures, LP first reported on Form ADV by Third Security, LLC (Venture Capital Fund)
    Fund first reported on Form ADVFundsFactValleys' Ventures, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  11. Jan 1, 2014
    Jason Horton Gabriel joined Schedule A of Third Security, LLC as Managing Director
    Person joinedPeopleFactJason Horton GabrielSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  12. Apr 1, 2013
    NRM VII Holdings I, LLC first reported on Form ADV by Third Security, LLC (Venture Capital Fund), GAV $38,693,568
    Fund first reported on Form ADVFundsFactNRM VII Holdings I, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  13. Dec 12, 2012
    Scott Horner (Managing Director) no longer on Schedule A of Third Security, LLC
    Person leftPeopleInferenceScott HornerSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  14. Feb 14, 2012
    Third Security, LLC first filed Form ADV (IA)
    First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  15. Feb 14, 2012
    805-9828390947 first reported on Form ADV by Third Security, LLC (Venture Capital Fund), GAV $19,269,359
    Fund first reported on Form ADVFundsFact805-9828390947SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  16. Feb 14, 2012
    805-7600872608 first reported on Form ADV by Third Security, LLC (Venture Capital Fund), GAV $144,598,728
    Fund first reported on Form ADVFundsFact805-7600872608SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  17. Feb 14, 2012
    805-8296735393 first reported on Form ADV by Third Security, LLC (Venture Capital Fund), GAV $293,159,685
    Fund first reported on Form ADVFundsFact805-8296735393SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  18. Feb 14, 2012
    805-7280381163 first reported on Form ADV by Third Security, LLC (Venture Capital Fund), GAV $25,299,856
    Fund first reported on Form ADVFundsFact805-7280381163SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
  1. Sep 12, 2026
    Private equity with venture activity (probable, 75%, cls-1)
    registered adviser; venture funds are 6% of 25 private funds
Evidence
49 observations from 2 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
SEC adviser typeregistered_investment_adviserJun 30, 2020FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
First Form ADV filing2012-02-14Jun 30, 2020FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Adv history loadedadv-hist-1Sep 12, 2026FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Latest Form ADV filing2020-06-30Jun 30, 2020FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Venture share of reported funds0Jun 30, 2020FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Business phone540-633-7900Jun 30, 2020FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Contact page urlhttps://thirdsecurity.com/contact-us/
“contact page linked from the home page”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
DescriptionStart innovating with biotechnology portfolio management at Third Security. We partner with operating biotech companies to drive growth and global impact.
“meta description”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
DescriptionStart innovating with biotechnology portfolio management at Third Security. We partner with operating biotech companies to drive growth and global impact.
“meta description”
Sep 13, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Employees21Jun 30, 2020FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
HeadquartersRadford, VAJun 30, 2020FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Office addressTHE GOVERNOR TYLER, 1881 GROVE AVENUE, Radford, VA, 24141Jun 30, 2020FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Self-described typefamily_office
“Third Security, LLC (“Third Security”) is a manager of a portfolio of operating biotechnology companies, as well as a family office.”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Self-described typefamily_office
“Third Security, LLC (“Third Security”) is a manager of a portfolio of operating biotechnology companies, as well as a family office.”
Sep 13, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Private funds reported25Jun 30, 2020FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Private fund gross assets (reported)$787MJun 30, 2020FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Regulatory AUM (adviser, not fund size)$1.1BJun 30, 2020FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Stated geographyglobal,virginia
“geography words on the home page”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated geographyglobal,virginia
“geography words on the home page”
Sep 13, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated sectorsbiotech
“sector words on the home page”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated sectorsbiotech
“sector words on the home page”
Sep 13, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Team pagehttps://thirdsecurity.com/who-we-are/
“0 name/title pairs read”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Team pagehttps://thirdsecurity.com/who-we-are/
“0 name/title pairs read”
Sep 13, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Venture funds reported0Jun 30, 2020FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
WebsiteHTTP://WWW.THIRDSECURITY.COM
“re-picked from Schedule D 1.I by name”
Sep 12, 2026FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
WebsiteHTTP://WWW.NEWVAFUND.COMJun 30, 2020FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Site titleBiotech Investment Manager | Third Security
“title tag”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Site titleBiotech Investment Manager | Third Security
“title tag”
Sep 13, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)