Sante Health Ventures III, LP
1 additional principal
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, Pennsylvania Public School Employees' Retirement System as of 31 Dec 2025, shows $75M committed and net IRR 18.5%, 1.95x (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 → - -19%reported GAV
Reported gross assets fell from $348M to $281M between the Form ADV filings of 27 Mar 2024 and 30 Mar 2026.
The fund's assets as the adviser swears them, never its size or dry powder.
Amounts, each with its basis
- Vintage
- 2019basis: adv first reported
- 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
- $200Mwhat may be sold, not what was raised; file 021-306577, sworn by the adviser or filed under this vehicle
- Form D sold
- $0as of the filing of Feb 27, 2018
- First sale
- unknown
- Reported GAV
- $281Mon the Form ADV filed Mar 30, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 31
- Reported on ADV
- Mar 14, 2019 to Mar 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.Lifecycle
Mature
Lifecycle
The fund's own reporting through time
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 14, 2019 | Venture Capital Fund | $9.0M | 28 | $500,000 | 2% | yes | |
| Mar 23, 2020 | Venture Capital Fund | $31.9M | 28 | $500,000 | 2% | yes | |
| May 4, 2021 | Venture Capital Fund | $31.9M | 28 | $500,000 | 2% | yes | |
| Mar 31, 2022 | Venture Capital Fund | $206M | 31 | $500,000 | 2% | yes | |
| Mar 30, 2023 | Venture Capital Fund | $248M | 31 | $200,000 | 2% | yes | |
| Mar 27, 2024 | Venture Capital Fund | $348M | 31 | $200,000 | 2% | yes | |
| Mar 30, 2026 | Venture Capital Fund | $281M | 31 | $200,000 | 0% |
Principals and agents
- SHV Management Services III, LP Promoter
- Douglas D French Promoter
- Kevin M Lalande Promoter
Service providers
- AuditorKPMG · BOSTON, Massachusetts, United StatesForm ADV filed Mar 30, 2026 reports.adviserinfo.sec.gov
- AdministratorSECURITIZE FUND SERVICES, LLC · MIAMI, Florida, United StatesForm ADV filed Mar 30, 2026 reports.adviserinfo.sec.gov
- CustodianSilicon Valley Bank · AUSTIN, Texas, United StatesForm ADV filed Mar 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).| LP | Vintage (LP’s) | Committed | Paid in | Distributed | Remaining value | Net IRR | Multiple | As of |
|---|---|---|---|---|---|---|---|---|
| Pennsylvania Public School Employees' Retirement System pa.gov | 2018 | $75.0M | $70.5M | $39.6M | $97.7M | 18.5% | 1.9x | 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.| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| Pennsylvania Public School Employees' Retirement System | STATE RETIREMENT SYSTEM | $75.0M committed | reported as of Dec 31, 2025 | Fact Pension disclosure |
Investments attributed to this vehicle
Timeline
- Dec 31, 2025PSERS reports Sante Health Ventures III: $75,000,000 committed, vintage 2018, net IRR 18.5%, 1.95xLP commitment disclosed Fact Pension disclosure
- Dec 31, 2025PSERS reports Sante Health Ventures III: $75,000,000 committed, vintage 2018, net IRR 18.5%, 1.95xLP commitment disclosed Fact Pension disclosure
- Mar 14, 2019Sante Health Ventures III, LP first reported on Form ADV by Sante Ventures (Venture Capital Fund), GAV $9,005,332Fund first reported on Form ADV Fact Form ADV
- Feb 27, 2018Sante Health Ventures III, LP filed Form D: no sales yet of $200,000,000, Venture Capital FundForm D filed Fact Form D
Evidence
Every observation on this vehicle
- Entity type: Limited Partnership Feb 27, 2018 Fact Form D
- Form D fund type: Venture Capital Fund Feb 27, 2018 Fact Form D
- Form D industry group: Pooled Investment Fund Feb 27, 2018 Fact Form D
- Amendment: false Feb 27, 2018 Fact Form D
- Revenue range (Form D): Decline to Disclose Feb 27, 2018 Fact Form D
- Incorporated: withinFiveYears Feb 27, 2018 Fact Form D
- Jurisdiction: Delaware Feb 27, 2018 Fact Form D
- Amount sold (Form D): $0 Feb 27, 2018 Fact Form D
- Offering amount (Form D): $200M Feb 27, 2018 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Feb 27, 2018 Fact Form D
- Investors (Form D): 0 Feb 27, 2018 Fact Form D
- Minimum investment (Form D): 0 Feb 27, 2018 Fact Form D
- Securities offered: pooled Feb 27, 2018 Fact Form D
- Office address: Feb 27, 2018 Fact Form D
- Year of incorporation: 2018 Feb 27, 2018 Fact Form D
Relationships across DFX
on 2 other DFX graphs · 5 capital paths
Sante Health Ventures III, LP is the same institution as 2 records in Allocators and RIA and Wealth.
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…
Sante Health Ventures III, LP sits on 5 traced paths of capital across the graphs.
DFX traced 5 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
- Event retracted2026-10-01
- LP commitment disclosed2025-12-31source on record
- LP commitment disclosed2025-12-31source 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.