DFX Intelligence
Blue Bear Capital Partners III, LP
As of · the latest observation of this vehicle; each figure below carries its own filing date
Active deploymentFundraising status unknownADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
Nothing material in the last 365 days. Last change: 6 Oct 2023, Latest Form D filed on 6 Oct 2023: $119M sold, 32 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 021-461163, sworn by the adviser or filed under this vehicle
- Form D sold
- $119Mas of the filing of Oct 6, 2023, 32 investors
- First sale
- Oct 7, 2022
- Reported GAV
- $135Mon the Form ADV filed Mar 26, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 81
- Reported on ADV
- Mar 29, 2024 to Mar 26, 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 2023-10-06, older than 15 months (fr-1)
evidence dated Oct 6, 2023.
LifecycleActive deployment
vintage 2 to 4 years
age years: 4first sale: Oct 7, 2022vintage year: 2022adv gav as of: Mar 26, 2026vintage basis: Form d first saleform d sold: $119Mform d offering: n/aform d latest filed at: Oct 6, 2023
The fund's own reporting through time
2 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 29, 2024 | Venture Capital Fund | $129M | 68 | $5.0M | 1% | yes | |
| Mar 26, 2026 | Venture Capital Fund | $135M | 81 | $5.0M | 1% |
Principals and agents
3 principals on Form D, 0 placement agents
- (none) Blue Bear Capital III, LLC Executive Officer
- (none) Blue Bear Investment Group, LLC Executive Officer
- Ernst Sack Executive Officer
Service providers
3 named on Form ADV Schedule D and Form D
- AuditorWEAVER AND TIDWELL, L.L.P. · LOS ANGELES, California, United StatesForm ADV filed Mar 26, 2026 reports.adviserinfo.sec.gov
- AdministratorADURO ADVISORS, LLC · DENVER, Colorado, United StatesForm ADV filed Mar 26, 2026 reports.adviserinfo.sec.gov
- CustodianSOUTHSTATE BANK · WINTER HAVEN, Florida, United StatesForm ADV filed Mar 26, 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.
1 relationship, public pensions and the allocator graph, each counted once
| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| Rockefeller Brothers Fund Inc | FOUNDATION | $2.5M fair value on the foundation's return | reported as of Dec 31, 2024 | Fact IRS Form 990 / 990-PF e-file returns |
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
4 events
- Mar 19, 2025Custodian changed: SOUTHSTATE BANK replaced Silicon Valley Bank, first reported on the Form ADV filed March 19, 2025 (previous filing March 29, 2024)Custodian changed Fact Form ADV
- Mar 29, 2024Blue Bear Capital Partners III, LP first reported on Form ADV by Blue Bear Investment Group, LLC (Venture Capital Fund), GAV $129,150,320Fund first reported on Form ADV Fact Form ADV
- Oct 6, 2023Blue Bear Capital Partners III, LP filed Form D/A: $118,564,706 sold (indefinite offering), Venture Capital FundForm D filed Fact Form D
- Oct 7, 2022Blue Bear Capital Partners III, LP filed Form D: no sales yet (indefinite offering), Venture Capital FundForm D filed Fact Form D
Evidence
31 observations
Every observation on this vehicle
- Entity type: Limited Partnership Oct 6, 2023 Fact Form D
- Entity type: Limited Partnership Oct 7, 2022 Fact Form D
- Form D fund type: Venture Capital Fund Oct 6, 2023 Fact Form D
- Form D fund type: Venture Capital Fund Oct 7, 2022 Fact Form D
- Form D industry group: Pooled Investment Fund Oct 6, 2023 Fact Form D
- Form D industry group: Pooled Investment Fund Oct 7, 2022 Fact Form D
- Amendment: true Oct 6, 2023 Fact Form D
- Amendment: false Oct 7, 2022 Fact Form D
- Revenue range (Form D): Decline to Disclose Oct 6, 2023 Fact Form D
- Revenue range (Form D): Decline to Disclose Oct 7, 2022 Fact Form D
- Incorporated: withinFiveYears Oct 6, 2023 Fact Form D
- Incorporated: withinFiveYears Oct 7, 2022 Fact Form D
- Jurisdiction: Delaware Oct 6, 2023 Fact Form D
- Jurisdiction: Delaware Oct 7, 2022 Fact Form D
- Amount sold (Form D): $119M Oct 6, 2023 Fact Form D
- Amount sold (Form D): $0 Oct 7, 2022 Fact Form D
- Exemptions: 06b, 3C, 3C.1 Oct 6, 2023 Fact Form D
- Exemptions: 06b, 3C, 3C.1 Oct 7, 2022 Fact Form D
- First sale: 2022-10-07 Oct 6, 2023 Fact Form D
- Indefinite offering: true Oct 6, 2023 Fact Form D
- Indefinite offering: true Oct 7, 2022 Fact Form D
- Investors (Form D): 32 Oct 6, 2023 Fact Form D
- Investors (Form D): 0 Oct 7, 2022 Fact Form D
- Minimum investment (Form D): 0 Oct 6, 2023 Fact Form D
- Minimum investment (Form D): 0 Oct 7, 2022 Fact Form D
- Securities offered: pooled Oct 6, 2023 Fact Form D
- Securities offered: pooled Oct 7, 2022 Fact Form D
- Office address: Oct 6, 2023 Fact Form D
- Office address: Oct 7, 2022 Fact Form D
- Year of incorporation: 2022 Oct 6, 2023 Fact Form D
- Year of incorporation: 2022 Oct 7, 2022 Fact Form D
Relationships across DFX
on 3 other DFX graphs
Across the graphs
Blue Bear Capital Partners III, LP is the same institution as 3 records in Allocators, RIA and Wealth and Family Offices.
Allocators1RIA and Wealth1Family Offices1
DFX found 3 relationships across 3 datasets
Which record it is in each graph, what it is called there, and how the two were matched.
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Record history
3 dated events on the change ledger, latest event first
- Fund first reported on ADV2024-03-29source on record
- Form D filed2023-10-06source on record
- Form D filed2022-10-07source 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.