DFX Intelligence
B Capital Global Growth III, LP
As of · the latest observation of this vehicle; each figure below carries its own filing date
MatureClosed to new capitalADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
9 additional placement agents
Every relationship, signal and contact on this record, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What matters now
- 1 LP reportpublic disclosures
1 public LP report name this vehicle; the latest, California Public Employees' Retirement System as of 31 Dec 2025, shows $67.5M committed and net IRR 12.7%, 1.20x (the LP's own figures).
A named LP and its own performance figures are the strongest outside read on a fund.
FactPublic pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)For LPs, fund-of-fundsLimited partners →
Drawing the relationship network…
Amounts, each with its basis
- Vintage
- 2021basis: 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
- $1.6Bwhat may be sold, not what was raised; file 021-435810, sworn by the adviser or filed under this vehicle
- Form D sold
- $1.6Bas of the filing of Jan 19, 2023, 122 investors
- First sale
- Jul 6, 2021
- Reported GAV
- $1.9Bon the Form ADV filed Sep 14, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 137
- Reported on ADV
- Mar 31, 2022 to Sep 14, 2026
Fundraising evidence
What 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.Closed to new capital
Form D filed or amended 2023-01-19: the stated $1.6bn offering reported fully sold (fr-1)
evidence dated Jan 19, 2023.
Lifecycle
Mature
Lifecycle
vintage 4 to 7 years
age years: 5first sale: Jul 6, 2021vintage year: 2021adv gav as of: Sep 14, 2026vintage basis: Form d first saleform d sold: $1.6Bform d offering: $1.6Bform d latest filed at: Jan 19, 2023
The fund's own reporting through time
6 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 31, 2022 | Venture Capital Fund | $1.1B | 102 | $15.0M | 21% | yes | |
| Mar 31, 2023 | Venture Capital Fund | $1.5B | 123 | $15.0M | 15% | yes | |
| Sep 1, 2023 | Venture Capital Fund | $1.5B | 123 | $15.0M | 15% | yes | |
| Mar 28, 2024 | Venture Capital Fund | $1.6B | 135 | $15.0M | 10% | yes | |
| May 29, 2026 | Venture Capital Fund | $1.9B | 137 | $15.0M | 10% | ||
| Sep 14, 2026 | $1.9B | 137 | $15.0M | 10% |
Principals and agents
2 principals on Form D, 0 placement agents
- B Capital Global Growth GP III, LP Promoter
- B Capital Global Growth GP III, LP general partner (ADV 7.B.(1).A.3)
Service providers
12 named on Form ADV Schedule D and Form D
- AuditorEY · BOSTON, Massachusetts, United StatesForm ADV filed May 29, 2026 reports.adviserinfo.sec.gov
- AdministratorStandish Management · SANTA MONICA, California, United StatesForm ADV filed May 29, 2026 reports.adviserinfo.sec.gov
- CustodianCOMPUTERSHARE · PROVIDENCE, Rhode Island, United StatesForm ADV filed May 29, 2026 reports.adviserinfo.sec.gov
Limited partners and their reported performance
Whose 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).1 public LP report
| LP | Vintage (LP’s) | Committed | Paid in | Distributed | Remaining value | Net IRR | Multiple | As of |
|---|---|---|---|---|---|---|---|---|
| California Public Employees' Retirement System calpers.ca.gov | 2023 | $67.5M | $62.3M | $2.4M | $72.3M | 12.7% | 1.2x | Dec 31, 2025 |
Known LPs and allocators
What 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.1 relationship, public pensions and the allocator graph, each counted once
| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| California Public Employees' Retirement System | STATE RETIREMENT SYSTEM | $67.5M committed | reported as of Dec 31, 2025 | Fact Pension disclosure |
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
- Dec 31, 2025CalPERS reports B Capital Global Growth III, L.P.: $67,500,000 committed, vintage 2023, net IRR 12.7%, 1.2xLP commitment disclosed Fact Pension disclosure
- Dec 31, 2025CalPERS reports B Capital Global Growth III, L.P.: $67,500,000 committed, vintage 2023, net IRR 12.7%, 1.2xLP commitment disclosed Fact Pension disclosure
- Jan 19, 2023B Capital Global Growth III, L.P. filed Form D/A: $1,588,259,000 sold of $1,588,259,000, Venture Capital FundForm D filed Fact Form D
- Mar 31, 2022B Capital Global Growth III, LP first reported on Form ADV by B Capital Group (Venture Capital Fund), GAV $1,124,087,758Fund first reported on Form ADV Fact Form ADV
- Mar 3, 2022B Capital Global Growth III, L.P. filed Form D: $1,111,000,000 sold (indefinite offering), Venture Capital FundForm D filed Fact Form D
Evidence
33 observations
Every observation on this vehicle
- Adv pdf fund: B CAPITAL GLOBAL GROWTH III, LP Sep 14, 2026 Fact Form ADV
- Entity type: Limited Partnership Jan 19, 2023 Fact Form D
- Entity type: Limited Partnership Mar 3, 2022 Fact Form D
- Form D fund type: Venture Capital Fund Jan 19, 2023 Fact Form D
- Form D fund type: Venture Capital Fund Mar 3, 2022 Fact Form D
- Form D industry group: Pooled Investment Fund Jan 19, 2023 Fact Form D
- Form D industry group: Pooled Investment Fund Mar 3, 2022 Fact Form D
- Amendment: true Jan 19, 2023 Fact Form D
- Amendment: false Mar 3, 2022 Fact Form D
- Revenue range (Form D): Decline to Disclose Jan 19, 2023 Fact Form D
- Revenue range (Form D): Decline to Disclose Mar 3, 2022 Fact Form D
- Incorporated: withinFiveYears Jan 19, 2023 Fact Form D
- Incorporated: withinFiveYears Mar 3, 2022 Fact Form D
- Jurisdiction: CAYMAN ISLANDS Jan 19, 2023 Fact Form D
- Jurisdiction: CAYMAN ISLANDS Mar 3, 2022 Fact Form D
- Amount sold (Form D): $1.6B Jan 19, 2023 Fact Form D
- Amount sold (Form D): $1.1B Mar 3, 2022 Fact Form D
- Offering amount (Form D): $1.6B Jan 19, 2023 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jan 19, 2023 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Mar 3, 2022 Fact Form D
- First sale: 2021-07-06 Jan 19, 2023 Fact Form D
- First sale: 2021-07-06 Mar 3, 2022 Fact Form D
- Indefinite offering: true Mar 3, 2022 Fact Form D
- Investors (Form D): 122 Jan 19, 2023 Fact Form D
- Investors (Form D): 101 Mar 3, 2022 Fact Form D
- Minimum investment (Form D): 0 Jan 19, 2023 Fact Form D
- Minimum investment (Form D): 0 Mar 3, 2022 Fact Form D
- Securities offered: pooled Jan 19, 2023 Fact Form D
- Securities offered: pooled Mar 3, 2022 Fact Form D
- Office address: Jan 19, 2023 Fact Form D
- Office address: Mar 3, 2022 Fact Form D
- Year of incorporation: 2021 Jan 19, 2023 Fact Form D
- Year of incorporation: 2021 Mar 3, 2022 Fact Form D
Relationships across DFX
on 2 other DFX graphs · 5 capital paths
Across the graphs
B Capital Global Growth III, LP is the same institution as 2 records in Allocators and RIA and Wealth.
Allocators1RIA and Wealth1
DFX found 2 relationships across 2 datasets
Which record it is in each graph, what it is called there, and how the two were matched.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Checking your plan…
Capital chain
B Capital Global Growth III, LP sits on 5 traced paths of capital across the graphs.
Allocator to VC fund to manager to company
DFX traced 5 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Record history
1 identity change, 5 dated events on the change ledger, latest event first
- Event retracted2026-10-01
- LP commitment disclosed2025-12-31source on record
- LP commitment disclosed2025-12-31source on record
+3 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.