DFX Intelligence
Bluecross Blueshield Venture Partners V, LLC
As of · the latest observation of this vehicle; each figure below carries its own filing date
FundraisingEvergreen or indefinite offeringADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
4 additional principals
Every relationship, signal and contact on this record, with the source on each.
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Nothing material in the last 365 days. Last change: 15 Aug 2025, Latest Form D filed on 15 Aug 2025: $370M sold, 37 investors. A Form D amount is what was sold at the filing, never a final close.
Drawing the relationship network…
Amounts, each with its basis
- Vintage
- 2022basis: form d first sale
- Target
- unknownnot announced
- First close
- unknownnever inferred from a Form D
- Final close
- unknownonly from an announcement or an LP disclosure
- Announced size
- unknown
- Form D offering
- indefinitewhat may be sold, not what was raised; file 021-457125, sworn by the adviser or filed under this vehicle
- Form D sold
- $370Mas of the filing of Aug 15, 2025, 37 investors
- First sale
- Aug 29, 2022
- Reported GAV
- $358Mon the Form ADV filed Mar 25, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 35
- Reported on ADV
- Mar 29, 2023 to Mar 25, 2026
Fundraising evidenceWhat counts as raisingA Form D offering is permission to sell, not a fund in market; an amount sold is never a close; an evergreen offering amended every year is not a raise.
Evergreen or indefinite offering
Form D filed or amended 2025-08-15: offering indefinite, sold $370.1M (fr-1)
evidence dated Aug 15, 2025.
LifecycleFundraising
Form D within 18 months and the offering is not sold out
first sale: Aug 29, 2022vintage year: 2022adv gav as of: Mar 25, 2026vintage basis: Form d first saleform d sold: $370Mform d offering: n/aform d latest filed at: Aug 15, 2025
The fund's own reporting through time
4 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 29, 2023 | Venture Capital Fund | $300M | 27 | $2.0M | 2% | yes | |
| Jan 10, 2024 | Venture Capital Fund | $300M | 27 | $2.0M | 2% | yes | |
| Mar 29, 2024 | Venture Capital Fund | $358M | 34 | $2.0M | 2% | yes | |
| Mar 25, 2026 | Venture Capital Fund | $358M | 35 | $2.0M | 2% |
Principals and agents
7 principals on Form D, 0 placement agents
- Sandra Clarke Executive Officer
- Brad Lubrand Executive Officer
- John Banta Executive Officer
Service providers
3 named on Form ADV Schedule D and Form D
- AuditorPLANTE & MORAN, PLLC · CHICAGO, Illinois, United StatesForm ADV filed Mar 25, 2026 reports.adviserinfo.sec.gov
- AdministratorULTIMUS FUND SOLUTIONS, LLC · ROLLING MEADOWS, Illinois, United StatesForm ADV filed Mar 25, 2026 reports.adviserinfo.sec.gov
- CustodianNorthern Trust · CHICAGO, Illinois, United StatesForm ADV filed Mar 25, 2026 reports.adviserinfo.sec.gov
Limited partners and their reported performanceWhose numbers these areEach row is the LP’s own number: its cash flows and its valuation policy as of its reporting date, not the fund’s. Net IRR is printed only when the LP prints one. The vintage is the LP’s definition (CalPERS: year of its first cash flow; WSIB: year of its initial investment).
0 public LP reports
No public LP has reported this vehicle. The LP tape is read from public pension disclosures (see Limited partners); a fund appears here only when an LP’s report names it.
Known LPs and allocatorsWhat these amounts and dates areA commitment date prints only when the source printed one; otherwise the row carries the date of the report that listed it. A foundation’s 990-PF line is a holding at fair value on its return, never a commitment.
0 relationships, public pensions and the allocator graph, each counted once
No allocator names this vehicle in a public disclosure DFX holds: pension reports, foundation 990-PF returns or endowment disclosures.
Investments attributed to this vehicle
0
No investment attributed to this vehicle. The firm’s investments sit on the firm; a fund gets one only when a source names the vehicle.
Timeline
5 events
- Aug 15, 2025BlueCross BlueShield Venture Partners V, LLC filed Form D/A: $370,102,041 sold (indefinite offering), Venture Capital FundForm D filed Fact Form D
- Aug 19, 2024BlueCross BlueShield Venture Partners V, LLC filed Form D/A: $366,020,408 sold (indefinite offering), Venture Capital FundForm D filed Fact Form D
- Aug 30, 2023BlueCross BlueShield Venture Partners V, LLC filed Form D/A: $362,959,184 sold (indefinite offering), Venture Capital FundForm D filed Fact Form D
- Mar 29, 2023Bluecross Blueshield Venture Partners V, LLC first reported on Form ADV by Sandbox Industries (Venture Capital Fund), GAV $299,700,000Fund first reported on Form ADV Fact Form ADV
- Aug 26, 2022BlueCross BlueShield Venture Partners V, LLC filed Form D: no sales yet (indefinite offering), Venture Capital FundForm D filed Fact Form D
Evidence
63 observations
Every observation on this vehicle
- Entity type: Limited Liability Company Aug 15, 2025 Fact Form D
- Entity type: Limited Liability Company Aug 19, 2024 Fact Form D
- Entity type: Limited Liability Company Aug 30, 2023 Fact Form D
- Entity type: Limited Liability Company Aug 26, 2022 Fact Form D
- Form D fund type: Venture Capital Fund Aug 15, 2025 Fact Form D
- Form D fund type: Venture Capital Fund Aug 19, 2024 Fact Form D
- Form D fund type: Venture Capital Fund Aug 30, 2023 Fact Form D
- Form D fund type: Venture Capital Fund Aug 26, 2022 Fact Form D
- Form D industry group: Pooled Investment Fund Aug 15, 2025 Fact Form D
- Form D industry group: Pooled Investment Fund Aug 19, 2024 Fact Form D
- Form D industry group: Pooled Investment Fund Aug 30, 2023 Fact Form D
- Form D industry group: Pooled Investment Fund Aug 26, 2022 Fact Form D
- Amendment: true Aug 15, 2025 Fact Form D
- Amendment: true Aug 19, 2024 Fact Form D
- Amendment: true Aug 30, 2023 Fact Form D
- Amendment: false Aug 26, 2022 Fact Form D
- Revenue range (Form D): Decline to Disclose Aug 15, 2025 Fact Form D
- Revenue range (Form D): Decline to Disclose Aug 19, 2024 Fact Form D
- Revenue range (Form D): Decline to Disclose Aug 30, 2023 Fact Form D
- Revenue range (Form D): Decline to Disclose Aug 26, 2022 Fact Form D
- Incorporated: withinFiveYears Aug 15, 2025 Fact Form D
- Incorporated: withinFiveYears Aug 19, 2024 Fact Form D
- Incorporated: withinFiveYears Aug 30, 2023 Fact Form D
- Incorporated: withinFiveYears Aug 26, 2022 Fact Form D
- Jurisdiction: Delaware Aug 15, 2025 Fact Form D
- Jurisdiction: Delaware Aug 19, 2024 Fact Form D
- Jurisdiction: Delaware Aug 30, 2023 Fact Form D
- Jurisdiction: Delaware Aug 26, 2022 Fact Form D
- Amount sold (Form D): $370M Aug 15, 2025 Fact Form D
- Amount sold (Form D): $366M Aug 19, 2024 Fact Form D
- Amount sold (Form D): $363M Aug 30, 2023 Fact Form D
- Amount sold (Form D): $0 Aug 26, 2022 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Aug 15, 2025 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Aug 19, 2024 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Aug 30, 2023 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Aug 26, 2022 Fact Form D
- First sale: 2022-08-29 Aug 15, 2025 Fact Form D
- First sale: 2022-08-29 Aug 19, 2024 Fact Form D
- First sale: 2022-08-29 Aug 30, 2023 Fact Form D
- Indefinite offering: true Aug 15, 2025 Fact Form D
- Indefinite offering: true Aug 19, 2024 Fact Form D
- Indefinite offering: true Aug 30, 2023 Fact Form D
- Indefinite offering: true Aug 26, 2022 Fact Form D
- Investors (Form D): 37 Aug 15, 2025 Fact Form D
- Investors (Form D): 34 Aug 19, 2024 Fact Form D
- Investors (Form D): 33 Aug 30, 2023 Fact Form D
- Investors (Form D): 0 Aug 26, 2022 Fact Form D
- Minimum investment (Form D): 0 Aug 15, 2025 Fact Form D
- Minimum investment (Form D): 0 Aug 19, 2024 Fact Form D
- Minimum investment (Form D): 0 Aug 30, 2023 Fact Form D
- Minimum investment (Form D): 0 Aug 26, 2022 Fact Form D
- Securities offered: pooled Aug 15, 2025 Fact Form D
- Securities offered: pooled Aug 19, 2024 Fact Form D
- Securities offered: pooled Aug 30, 2023 Fact Form D
- Securities offered: pooled Aug 26, 2022 Fact Form D
- Office address: Aug 15, 2025 Fact Form D
- Office address: Aug 19, 2024 Fact Form D
- Office address: Aug 30, 2023 Fact Form D
- Office address: Aug 26, 2022 Fact Form D
- Year of incorporation: 2022 Aug 15, 2025 Fact Form D
- Year of incorporation: 2022 Aug 19, 2024 Fact Form D
- Year of incorporation: 2022 Aug 30, 2023 Fact Form D
- Year of incorporation: 2022 Aug 26, 2022 Fact Form D
Relationships across DFX
on 1 other DFX graph
Across the graphs
Bluecross Blueshield Venture Partners V, LLC is the same institution as 1 record in RIA and Wealth.
RIA and Wealth1
The joined record opens with the product, beside every other relationship on this page.
Checking your plan…
Record history
5 dated events on the change ledger, latest event first
- Form D filed2025-08-15source on record
- Form D filed2024-08-19source on record
- Form D filed2023-08-30source on record
+2 more changes on this record's ledger
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.