DFX Intelligence
Initialized III L.P.
As of · the latest observation of this vehicle; each figure below carries its own filing date
HarvestClosed to new capitalADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
2 additional placement agents
Every relationship, signal and contact on this record, with the source on each.
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Nothing material in the last 365 days. Last change: 10 Jul 2017, Latest Form D filed on 10 Jul 2017: $125M sold of $125M offered, 65 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
- 2016basis: 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
- $125Mwhat may be sold, not what was raised; file 021-264469, sworn by the adviser or filed under this vehicle
- Form D sold
- $125Mas of the filing of Jul 10, 2017, 65 investors
- First sale
- Jun 7, 2016
- Reported GAV
- $1.2Bon the Form ADV filed Mar 27, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 67
- Reported on ADV
- Mar 30, 2017 to Mar 27, 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.
Closed to new capital
Form D filed or amended 2017-07-10: the stated $125.0M offering reported fully sold (fr-1)
evidence dated Jul 10, 2017.
LifecycleHarvest
vintage over 7 years, still reported
age years: 10first sale: Jun 7, 2016vintage year: 2016adv gav as of: Mar 27, 2026vintage basis: Form d first saleform d sold: $125Mform d offering: $125Mform d latest filed at: Jul 10, 2017
The fund's own reporting through time
13 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 30, 2017 | Venture Capital Fund | $97.1M | 52 | 1% | yes | ||
| Mar 1, 2018 | Venture Capital Fund | $42.7M | 52 | 1% | yes | ||
| Apr 6, 2018 | Venture Capital Fund | $42.7M | 52 | 1% | yes | ||
| Mar 30, 2019 | Venture Capital Fund | $117M | 52 | 1% | yes | ||
| Mar 31, 2020 | Venture Capital Fund | $217M | 66 | 1% | yes | ||
| Jul 28, 2020 | Venture Capital Fund | $217M | 66 | 1% | yes | ||
| Mar 25, 2021 | Venture Capital Fund | $348M | 66 | 1% | yes | ||
| Mar 31, 2022 | Venture Capital Fund | $1.2B | 66 | 1% | yes | ||
| Feb 8, 2023 | Venture Capital Fund | $1.2B | 66 | 1% | yes | ||
| Mar 27, 2023 | Venture Capital Fund | $1.5B | 69 | 1% | yes | ||
| Mar 29, 2024 | Venture Capital Fund | $1.1B | 68 | 1% | yes | ||
| Oct 30, 2024 | Venture Capital Fund | $1.1B | 68 | 1% | yes | ||
| Mar 27, 2026 | Venture Capital Fund | $1.2B | 67 | 1% |
Principals and agents
3 principals on Form D, 0 placement agents
- Alexis Ohanian Executive Officer
- Garry Tan Executive Officer
- Alina Libova Executive Officer
Service providers
5 named on Form ADV Schedule D and Form D
- AuditorSENSIBA SAN FILIPPO LLP · PLEASANTON, California, United StatesForm ADV filed Mar 27, 2026 reports.adviserinfo.sec.gov
- AdministratorStandish Management · SAN FRANCISCO, California, United StatesForm ADV filed Mar 27, 2026 reports.adviserinfo.sec.gov
- CustodianFirst Citizens Bank · SANTA CLARA, California, United StatesForm ADV filed Mar 27, 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
- Jul 10, 2017Initialized III L.P. filed Form D/A: $125,000,000 sold of $125,000,000, Venture Capital FundForm D filed Fact Form D
- Mar 30, 2017Initialized III L.P. first reported on Form ADV by Initialized Capital Management, LLC (Venture Capital Fund), GAV $97,124,000Fund first reported on Form ADV Fact Form ADV
- Jun 7, 2016Initialized III L.P. filed Form D: no sales yet of $100,000,000, Venture Capital FundForm D filed Fact Form D
Evidence
30 observations
Every observation on this vehicle
- Entity type: Limited Partnership Jul 10, 2017 Fact Form D
- Entity type: Limited Partnership Jun 7, 2016 Fact Form D
- Form D fund type: Venture Capital Fund Jul 10, 2017 Fact Form D
- Form D fund type: Venture Capital Fund Jun 7, 2016 Fact Form D
- Form D industry group: Pooled Investment Fund Jul 10, 2017 Fact Form D
- Form D industry group: Pooled Investment Fund Jun 7, 2016 Fact Form D
- Amendment: true Jul 10, 2017 Fact Form D
- Amendment: false Jun 7, 2016 Fact Form D
- Revenue range (Form D): Not Applicable Jul 10, 2017 Fact Form D
- Revenue range (Form D): Not Applicable Jun 7, 2016 Fact Form D
- Incorporated: withinFiveYears Jul 10, 2017 Fact Form D
- Incorporated: yetToBeFormed Jun 7, 2016 Fact Form D
- Jurisdiction: Delaware Jul 10, 2017 Fact Form D
- Jurisdiction: Delaware Jun 7, 2016 Fact Form D
- Amount sold (Form D): $125M Jul 10, 2017 Fact Form D
- Amount sold (Form D): $0 Jun 7, 2016 Fact Form D
- Offering amount (Form D): $125M Jul 10, 2017 Fact Form D
- Offering amount (Form D): $100M Jun 7, 2016 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jul 10, 2017 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Jun 7, 2016 Fact Form D
- First sale: 2016-06-07 Jul 10, 2017 Fact Form D
- Investors (Form D): 65 Jul 10, 2017 Fact Form D
- Investors (Form D): 0 Jun 7, 2016 Fact Form D
- Minimum investment (Form D): 0 Jul 10, 2017 Fact Form D
- Minimum investment (Form D): 0 Jun 7, 2016 Fact Form D
- Securities offered: pooled Jul 10, 2017 Fact Form D
- Securities offered: pooled Jun 7, 2016 Fact Form D
- Office address: Jul 10, 2017 Fact Form D
- Office address: Jun 7, 2016 Fact Form D
- Year of incorporation: 2016 Jul 10, 2017 Fact Form D
Relationships across DFX
on 1 other DFX graph
Across the graphs
Initialized 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
3 dated events on the change ledger, latest event first
- Form D filed2017-07-10source on record
- Fund first reported on ADV2017-03-30source on record
- Form D filed2016-06-07source 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.