DFX Intelligence
Bluecross Blueshield Venture Partners III, LLC
As of · the latest observation of this vehicle; each figure below carries its own filing date
HarvestFundraising status unknownADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
What matters now
- -13%reported GAV
Reported gross assets fell from $527M to $457M between the Form ADV filings of 29 Mar 2024 and 25 Mar 2026.
The fund's assets as the adviser swears them, never its size or dry powder.
Drawing the relationship network…
Amounts, each with its basis
- Vintage
- 2015basis: 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 021-255036, 021-287500, sworn by the adviser or filed under this vehicle
- Form D sold
- $136Mas of the filing of Jan 13, 2016, 17 investors
- First sale
- Dec 21, 2015
- Reported GAV
- $457Mon the Form ADV filed Mar 25, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 35
- Reported on ADV
- Mar 30, 2016 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.
Unknown
latest Form D 2016-01-13, older than 15 months (fr-1)
evidence dated Jan 13, 2016.
LifecycleHarvest
vintage over 7 years, still reported
age years: 11first sale: Dec 21, 2015vintage year: 2015adv gav as of: Mar 25, 2026vintage basis: Form d first saleform d sold: $136Mform d offering: n/aform d latest filed at: Jan 13, 2016
The fund's own reporting through time
12 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 30, 2016 | Venture Capital Fund | $204M | 23 | $2.0M | 2% | yes | |
| Mar 28, 2017 | Venture Capital Fund | $231M | 30 | $2.0M | 2% | yes | |
| Mar 30, 2018 | Venture Capital Fund | $260M | 34 | $2.0M | 2% | yes | |
| Apr 10, 2018 | Venture Capital Fund | $260M | 34 | $2.0M | 2% | yes | |
| Mar 28, 2019 | Venture Capital Fund | $263M | 34 | $2.0M | 2% | yes | |
| Mar 24, 2020 | Venture Capital Fund | $328M | 34 | $2.0M | 2% | yes | |
| Mar 26, 2021 | Venture Capital Fund | $342M | 35 | $2.0M | 2% | yes | |
| Apr 2, 2021 | Venture Capital Fund | $342M | 35 | $2.0M | 2% | yes | |
| Mar 29, 2022 | Venture Capital Fund | $584M | 35 | $2.0M | 2% | yes | |
| Mar 29, 2023 | Venture Capital Fund | $512M | 35 | $2.0M | 2% | yes | |
| Mar 29, 2024 | Venture Capital Fund | $527M | 35 | $2.0M | 2% | yes | |
| Mar 25, 2026 | Venture Capital Fund | $457M | 35 | $2.0M | 2% |
Principals and agents
1 principal on Form D, 0 placement agents
- 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
3 events
- Mar 28, 2019Administrator changed: ULTIMUS FUND SOLUTIONS, LLC replaced WOODFIELD FUND ADMINISTRATION, LLC, first reported on the Form ADV filed March 28, 2019 (previous filing April 10, 2018)Administrator changed Fact Form ADV
- Mar 30, 2016Bluecross Blueshield Venture Partners III, LLC first reported on Form ADV by Sandbox Holdings, LLC (Venture Capital Fund), GAV $204,000,000Fund first reported on Form ADV Fact Form ADV
- Jan 13, 2016Bluecross Blueshield Venture Partners III, LLC filed Form D: $135,641,317 sold (indefinite offering), Other Investment FundForm D filed Fact Form D
Evidence
15 observations
Every observation on this vehicle
- Entity type: Limited Liability Company Jan 13, 2016 Fact Form D
- Form D fund type: Other Investment Fund Jan 13, 2016 Fact Form D
- Form D industry group: Pooled Investment Fund Jan 13, 2016 Fact Form D
- Amendment: false Jan 13, 2016 Fact Form D
- Incorporated: withinFiveYears Jan 13, 2016 Fact Form D
- Jurisdiction: Delaware Jan 13, 2016 Fact Form D
- Amount sold (Form D): $136M Jan 13, 2016 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Jan 13, 2016 Fact Form D
- First sale: 2015-12-21 Jan 13, 2016 Fact Form D
- Indefinite offering: true Jan 13, 2016 Fact Form D
- Investors (Form D): 17 Jan 13, 2016 Fact Form D
- Minimum investment (Form D): 0 Jan 13, 2016 Fact Form D
- Securities offered: pooled Jan 13, 2016 Fact Form D
- Office address: Jan 13, 2016 Fact Form D
- Year of incorporation: 2015 Jan 13, 2016 Fact Form D
Relationships across DFX
on 1 other DFX graph
Across the graphs
Bluecross Blueshield Venture Partners III, 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
2 dated events on the change ledger, latest event first
- Fund first reported on ADV2016-03-30source on record
- Form D filed2016-01-13source on record
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.