DFX Intelligence
Brightwood Capital SBIC III, LP
As of · the latest observation of this vehicle; each figure below carries its own filing date
MatureFundraising status unknownADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
5 additional principals, 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
- +95%reported GAV
Reported gross assets rose from $172M to $335M between the Form ADV filings of 26 Apr 2024 and 26 Jun 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
- $100Mwhat may be sold, not what was raised; file 021-412521, sworn by the adviser or filed under this vehicle
- Form D sold
- $82.7Mas of the filing of Sep 12, 2023, 28 investors
- First sale
- Aug 23, 2021
- Reported GAV
- $335Mon the Form ADV filed Jun 26, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 52
- Reported on ADV
- Feb 16, 2022 to Jun 26, 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.Unknown
latest Form D 2023-09-12, older than 15 months (fr-1)
evidence dated Sep 12, 2023.
Lifecycle
Mature
Lifecycle
vintage 4 to 7 years
age years: 5first sale: Aug 23, 2021vintage year: 2021adv gav as of: Jun 26, 2026vintage basis: Form d first saleform d sold: $82.7Mform d offering: $100Mform d latest filed at: Sep 12, 2023
The fund's own reporting through time
9 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Feb 16, 2022 | Venture Capital Fund | $0 | 100 | $100,000 | 0% | yes | |
| Mar 30, 2022 | Venture Capital Fund | $25.1M | 12 | $100,000 | 9% | yes | |
| Jun 1, 2022 | Venture Capital Fund | $25.1M | 12 | $100,000 | 9% | yes | |
| Mar 30, 2023 | Venture Capital Fund | $69.6M | 33 | $100,000 | 7% | yes | |
| Jun 14, 2023 | Venture Capital Fund | $69.6M | 33 | $100,000 | 7% | yes | |
| Nov 15, 2023 | Venture Capital Fund | $69.6M | 33 | $100,000 | 7% | yes | |
| Mar 29, 2024 | Venture Capital Fund | $172M | 43 | $100,000 | 6% | yes | |
| Apr 26, 2024 | Venture Capital Fund | $172M | 43 | $100,000 | 6% | yes | |
| Jun 26, 2026 | Venture Capital Fund | $335M | 52 | $250,000 | 15% |
Principals and agents
8 principals on Form D, 0 placement agents
- Colin Keenan Executive Officer
- Brightwood Capital SBIC Managers III, LLC Executive Officer
- Scott Porter Executive Officer
Service providers
4 named on Form ADV Schedule D and Form D
- AuditorRSM · NEW YORK, New York, United StatesForm ADV filed Jun 26, 2026 reports.adviserinfo.sec.gov
- AdministratorCSC FUND SERVICES NORTH AMERICA LLC · WILMINGTON, Delaware, United StatesForm ADV filed Jun 26, 2026 reports.adviserinfo.sec.gov
- CustodianCITIZENS BANK, NATIONAL ASSOCIATION · PROVIDENCE, Rhode Island, United StatesForm ADV filed Jun 26, 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.1 relationship, public pensions and the allocator graph, each counted once
| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| William T Grant Foundation Inc | FOUNDATION | $4.3M 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 29, 2024Administrator changed: CSC FUND SERVICES NORTH AMERICA LLC replaced Standish Management, first reported on the Form ADV filed March 29, 2024 (previous filing November 15, 2023)Administrator changed Fact Form ADV
- Sep 12, 2023Brightwood Capital SBIC III, LP filed Form D/A: $82,690,000 sold of $100,000,000, Venture Capital FundForm D filed Fact Form D
- Feb 16, 2022Brightwood Capital SBIC III, LP first reported on Form ADV by Brightwood Capital Advisors, LLC (Venture Capital Fund)Fund first reported on Form ADV Fact Form ADV
- Sep 7, 2021Brightwood Capital SBIC III, LP filed Form D: $25,150,000 sold of $100,000,000, Venture Capital FundForm D filed Fact Form D
Evidence
32 observations
Every observation on this vehicle
- Entity type: Limited Partnership Sep 12, 2023 Fact Form D
- Entity type: Limited Partnership Sep 7, 2021 Fact Form D
- Form D fund type: Venture Capital Fund Sep 12, 2023 Fact Form D
- Form D fund type: Venture Capital Fund Sep 7, 2021 Fact Form D
- Form D industry group: Pooled Investment Fund Sep 12, 2023 Fact Form D
- Form D industry group: Pooled Investment Fund Sep 7, 2021 Fact Form D
- Amendment: true Sep 12, 2023 Fact Form D
- Amendment: false Sep 7, 2021 Fact Form D
- Revenue range (Form D): Decline to Disclose Sep 12, 2023 Fact Form D
- Revenue range (Form D): Decline to Disclose Sep 7, 2021 Fact Form D
- Incorporated: withinFiveYears Sep 12, 2023 Fact Form D
- Incorporated: withinFiveYears Sep 7, 2021 Fact Form D
- Jurisdiction: Delaware Sep 12, 2023 Fact Form D
- Jurisdiction: Delaware Sep 7, 2021 Fact Form D
- Amount sold (Form D): $82.7M Sep 12, 2023 Fact Form D
- Amount sold (Form D): $25.1M Sep 7, 2021 Fact Form D
- Offering amount (Form D): $100M Sep 12, 2023 Fact Form D
- Offering amount (Form D): $100M Sep 7, 2021 Fact Form D
- Exemptions: 06b, 3C, 3C.1 Sep 12, 2023 Fact Form D
- Exemptions: 06b, 3C, 3C.1 Sep 7, 2021 Fact Form D
- First sale: 2021-08-23 Sep 12, 2023 Fact Form D
- First sale: 2021-08-23 Sep 7, 2021 Fact Form D
- Investors (Form D): 28 Sep 12, 2023 Fact Form D
- Investors (Form D): 11 Sep 7, 2021 Fact Form D
- Minimum investment (Form D): 0 Sep 12, 2023 Fact Form D
- Minimum investment (Form D): 0 Sep 7, 2021 Fact Form D
- Securities offered: pooled Sep 12, 2023 Fact Form D
- Securities offered: pooled Sep 7, 2021 Fact Form D
- Office address: Sep 12, 2023 Fact Form D
- Office address: Sep 7, 2021 Fact Form D
- Year of incorporation: 2019 Sep 12, 2023 Fact Form D
- Year of incorporation: 2019 Sep 7, 2021 Fact Form D
Relationships across DFX
on 3 other DFX graphs
Across the graphs
Brightwood Capital SBIC 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.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Checking your plan…
Record history
3 dated events on the change ledger, latest event first
- Form D filed2023-09-12source on record
- Fund first reported on ADV2022-02-16source on record
- Form D filed2021-09-07source 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.