DFX Intelligence
Next Coast Ventures III, L.P.
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
1 additional principal, 1 additional placement agent
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
- +180%reported GAV
Reported gross assets rose from $42.8M to $120M between the Form ADV filings of 14 May 2024 and 30 Apr 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
- 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
- $190Mwhat may be sold, not what was raised; file 021-425959, sworn by the adviser or filed under this vehicle
- Form D sold
- $190Mas of the filing of Mar 29, 2022, 186 investors
- First sale
- Dec 22, 2021
- Reported GAV
- $120Mon the Form ADV filed Apr 30, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 101
- Reported on ADV
- Mar 29, 2022 to Apr 30, 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 2022-03-29: the stated $190.1M offering reported fully sold (fr-1)
evidence dated Mar 29, 2022.
Lifecycle
Mature
Lifecycle
vintage 4 to 7 years
age years: 5first sale: Dec 22, 2021vintage year: 2021adv gav as of: Apr 30, 2026vintage basis: Form d first saleform d sold: $190Mform d offering: $190Mform d latest filed at: Mar 29, 2022
The fund's own reporting through time
8 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 29, 2022 | Securitized Asset Fund | $112M | 75 | $100,000 | 2% | yes | |
| Jun 23, 2022 | Securitized Asset Fund | $112M | 75 | $100,000 | 2% | yes | |
| Mar 29, 2023 | Venture Capital Fund | $31.1M | 75 | $100,000 | 2% | yes | |
| May 30, 2023 | Venture Capital Fund | $31.1M | 75 | $100,000 | 2% | yes | |
| Mar 26, 2024 | Venture Capital Fund | $42.8M | 101 | $100,000 | 2% | yes | |
| May 8, 2024 | Venture Capital Fund | $42.8M | 101 | $100,000 | 2% | yes | |
| May 14, 2024 | Venture Capital Fund | $42.8M | 101 | $100,000 | 2% | yes | |
| Apr 30, 2026 | Venture Capital Fund | $120M | 101 | $100,000 | 2% |
Principals and agents
4 principals on Form D, 0 placement agents
- NCV Upper-Tier GP III, LLC Director
- Mike Thomas Smerklo Director
- NCV GP III, L.P. Director
Service providers
4 named on Form ADV Schedule D and Form D
- AuditorBDO · FORT WORTH, Texas, United StatesForm ADV filed Apr 30, 2026 reports.adviserinfo.sec.gov
- AdministratorCarta · SAN FRANCISCO, California, United StatesForm ADV filed Apr 30, 2026 reports.adviserinfo.sec.gov
- CustodianCiti · DALLAS, Texas, United StatesForm ADV filed Apr 30, 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).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 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.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
- Mar 29, 2023Auditor changed: BDO replaced FRAZIER & DEETER, LLC, first reported on the Form ADV filed March 29, 2023 (previous filing June 23, 2022)Auditor changed Fact Form ADV
- Jun 23, 2022Auditor changed: FRAZIER & DEETER, LLC replaced PwC, first reported on the Form ADV filed June 23, 2022 (previous filing March 29, 2022)Auditor changed Fact Form ADV
- Mar 29, 2022Next Coast Ventures III, L.P. filed Form D/A: $190,080,000 sold of $190,080,000, Venture Capital FundForm D filed Fact Form D
- Mar 29, 2022Next Coast Ventures III, L.P. first reported on Form ADV by Next Coast Ventures, LLC (Securitized Asset Fund), GAV $111,714,286Fund first reported on Form ADV Fact Form ADV
- Dec 20, 2021Next Coast Ventures III, L.P. filed Form D: no sales yet of $175,000,000, Venture Capital FundForm D filed Fact Form D
Evidence
31 observations
Every observation on this vehicle
- Entity type: Limited Partnership Mar 29, 2022 Fact Form D
- Entity type: Limited Partnership Dec 20, 2021 Fact Form D
- Form D fund type: Venture Capital Fund Mar 29, 2022 Fact Form D
- Form D fund type: Venture Capital Fund Dec 20, 2021 Fact Form D
- Form D industry group: Pooled Investment Fund Mar 29, 2022 Fact Form D
- Form D industry group: Pooled Investment Fund Dec 20, 2021 Fact Form D
- Amendment: true Mar 29, 2022 Fact Form D
- Amendment: false Dec 20, 2021 Fact Form D
- Revenue range (Form D): Decline to Disclose Mar 29, 2022 Fact Form D
- Revenue range (Form D): Decline to Disclose Dec 20, 2021 Fact Form D
- Incorporated: withinFiveYears Mar 29, 2022 Fact Form D
- Incorporated: withinFiveYears Dec 20, 2021 Fact Form D
- Jurisdiction: Delaware Mar 29, 2022 Fact Form D
- Jurisdiction: Delaware Dec 20, 2021 Fact Form D
- Amount sold (Form D): $190M Mar 29, 2022 Fact Form D
- Amount sold (Form D): $0 Dec 20, 2021 Fact Form D
- Offering amount (Form D): $190M Mar 29, 2022 Fact Form D
- Offering amount (Form D): $175M Dec 20, 2021 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Mar 29, 2022 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Dec 20, 2021 Fact Form D
- First sale: 2021-12-22 Mar 29, 2022 Fact Form D
- Investors (Form D): 186 Mar 29, 2022 Fact Form D
- Investors (Form D): 0 Dec 20, 2021 Fact Form D
- Minimum investment (Form D): 0 Mar 29, 2022 Fact Form D
- Minimum investment (Form D): 0 Dec 20, 2021 Fact Form D
- Securities offered: pooled Mar 29, 2022 Fact Form D
- Securities offered: pooled Dec 20, 2021 Fact Form D
- Office address: Mar 29, 2022 Fact Form D
- Office address: Dec 20, 2021 Fact Form D
- Year of incorporation: 2021 Mar 29, 2022 Fact Form D
- Year of incorporation: 2021 Dec 20, 2021 Fact Form D
Relationships across DFX
on 1 other DFX graph
Across the graphs
Next Coast Ventures III, L.P. 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
1 identity change, 4 dated events on the change ledger, latest event first
- Fund folded2026-09-14
- Fund first reported on ADV2022-06-23source on record
- Form D filed2022-03-29source 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.