DFX Intelligence
Base10 Partners 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
3 additional LP reports and investments, 1 event
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 $50M committed and net IRR 2.7%, 1.00x (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 → - +236%reported GAV
Reported gross assets rose from $129M to $434M between the Form ADV filings of 27 Mar 2024 and 31 Mar 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
- $450Mwhat may be sold, not what was raised; file 021-426165, sworn by the adviser or filed under this vehicle
- Form D sold
- $450Mas of the filing of Feb 22, 2022, 104 investors
- First sale
- Dec 22, 2021
- Reported GAV
- $434Mon the Form ADV filed Mar 31, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 713
- Reported on ADV
- Mar 31, 2022 to Mar 31, 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 2022-02-22: the stated $449.9M offering reported fully sold (fr-1)
evidence dated Feb 22, 2022.
Lifecycle
Mature
Lifecycle
vintage 4 to 7 years
age years: 5first sale: Dec 22, 2021vintage year: 2021adv gav as of: Mar 31, 2026vintage basis: Form d first saleform d sold: $450Mform d offering: $450Mform d latest filed at: Feb 22, 2022
The fund's own reporting through time
4 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 31, 2022 | Venture Capital Fund | $400M | 111 | 2% | yes | ||
| Mar 31, 2023 | Venture Capital Fund | $66.8M | 129 | 1% | yes | ||
| Mar 27, 2024 | Venture Capital Fund | $129M | 129 | 1% | yes | ||
| Mar 31, 2026 | Venture Capital Fund | $434M | 713 | 1% |
Principals and agents
3 principals on Form D, 0 placement agents
- - Base10 Partners III GP, LLC Executive Officer
- Adeyemi Ajao Executive Officer
- TJ Nahigian Executive Officer
Service providers
3 named on Form ADV Schedule D and Form D
- AuditorBDO · BOSTON, Massachusetts, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
- AdministratorCarta · SAN FRANCISCO, California, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
- CustodianJPMorgan · NEW YORK, New York, United StatesForm ADV filed Mar 31, 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 | 2022 | $50.0M | $43.3M | $0 | $45.3M | 2.7% | 1.0x | 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.6 relationships, public pensions and the allocator graph, each counted once
| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| California Public Employees' Retirement System | STATE RETIREMENT SYSTEM | $50.0M committed | reported as of Dec 31, 2025 | Fact Pension disclosure |
| Surdna Foundation Inc | FOUNDATION | $2.6M fair value on the foundation's return | reported as of Jun 30, 2025 | Fact IRS Form 990 / 990-PF e-file returns |
| Weingart Foundation | FOUNDATION | $5.2M fair value on the foundation's return | reported as of Jun 30, 2025 | 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
6 events
- Dec 31, 2025CalPERS reports Base10 Partners III, L.P.: $50,000,000 committed, vintage 2022, net IRR 2.7%, 1.0xLP commitment disclosed Fact Pension disclosure
- Dec 31, 2025CalPERS reports Base10 Partners III, L.P.: $50,000,000 committed, vintage 2022, net IRR 2.7%, 1.0xLP commitment disclosed Fact Pension disclosure
- Mar 27, 2024Administrator changed: Carta replaced Standish Management, first reported on the Form ADV filed March 27, 2024 (previous filing March 31, 2023)Administrator changed Fact Form ADV
- Mar 31, 2022Base10 Partners III, L.P. first reported on Form ADV by Base10 Partners Management LLC (Venture Capital Fund), GAV $400,000,000Fund first reported on Form ADV Fact Form ADV
- Feb 22, 2022Base10 Partners III, L.P. filed Form D/A: $449,850,000 sold of $449,850,000, Venture Capital FundForm D filed Fact Form D
Evidence
31 observations
Every observation on this vehicle
- Entity type: Limited Partnership Feb 22, 2022 Fact Form D
- Entity type: Limited Partnership Dec 21, 2021 Fact Form D
- Form D fund type: Venture Capital Fund Feb 22, 2022 Fact Form D
- Form D fund type: Venture Capital Fund Dec 21, 2021 Fact Form D
- Form D industry group: Pooled Investment Fund Feb 22, 2022 Fact Form D
- Form D industry group: Pooled Investment Fund Dec 21, 2021 Fact Form D
- Amendment: true Feb 22, 2022 Fact Form D
- Amendment: false Dec 21, 2021 Fact Form D
- Revenue range (Form D): Decline to Disclose Feb 22, 2022 Fact Form D
- Revenue range (Form D): Decline to Disclose Dec 21, 2021 Fact Form D
- Incorporated: withinFiveYears Feb 22, 2022 Fact Form D
- Incorporated: withinFiveYears Dec 21, 2021 Fact Form D
- Jurisdiction: Delaware Feb 22, 2022 Fact Form D
- Jurisdiction: Delaware Dec 21, 2021 Fact Form D
- Amount sold (Form D): $450M Feb 22, 2022 Fact Form D
- Amount sold (Form D): $0 Dec 21, 2021 Fact Form D
- Offering amount (Form D): $450M Feb 22, 2022 Fact Form D
- Offering amount (Form D): $400M Dec 21, 2021 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Feb 22, 2022 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Dec 21, 2021 Fact Form D
- First sale: 2021-12-22 Feb 22, 2022 Fact Form D
- Investors (Form D): 104 Feb 22, 2022 Fact Form D
- Investors (Form D): 0 Dec 21, 2021 Fact Form D
- Minimum investment (Form D): 0 Feb 22, 2022 Fact Form D
- Minimum investment (Form D): 0 Dec 21, 2021 Fact Form D
- Securities offered: Equity, pooled Feb 22, 2022 Fact Form D
- Securities offered: Equity, pooled Dec 21, 2021 Fact Form D
- Office address: Feb 22, 2022 Fact Form D
- Office address: Dec 21, 2021 Fact Form D
- Year of incorporation: 2021 Feb 22, 2022 Fact Form D
- Year of incorporation: 2021 Dec 21, 2021 Fact Form D
Relationships across DFX
on 2 other DFX graphs · 30 capital paths
Across the graphs
Base10 Partners III, L.P. 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
Base10 Partners III, L.P. sits on 30 traced paths of capital across the graphs.
Allocator to VC fund to manager to company
DFX traced 30 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
5 dated events on the change ledger, latest event first
- LP commitment disclosed2025-12-31source on record
- LP commitment disclosed2025-12-31source on record
- Fund first reported on ADV2022-03-31source 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.