DFX Intelligence
Alpha Square Group Fund III, LP
As of · the latest observation of this vehicle; each figure below carries its own filing date
FundraisingActive offering evidenceADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
3 additional principals, 12 additional placement agents
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
- $232Msold at the filing
Latest Form D filed on 12 Jun 2026: $232M sold of $400M offered, 56 investors. A Form D amount is what was sold at the filing, never a final close.
A new or amended Form D means the vehicle is taking money now.
- +149%reported GAV
Reported gross assets rose from $153M to $382M between the Form ADV filings of 26 Nov 2024 and 13 Aug 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
- 2023basis: 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
- $400Mwhat may be sold, not what was raised; file 021-500638, sworn by the adviser or filed under this vehicle
- Form D sold
- $232Mas of the filing of Jun 12, 2026, 56 investors
- First sale
- Oct 12, 2023
- Reported GAV
- $382Mon the Form ADV filed Aug 13, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 56
- Reported on ADV
- Mar 31, 2022 to Aug 13, 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.Active offering evidence
Form D filed or amended 2026-06-12: sold $232.3M of a stated $400.0M offering (fr-1)
evidence dated Jun 12, 2026.
Lifecycle
Fundraising
Lifecycle
Form D within 18 months and the offering is not sold out
first sale: Oct 12, 2023vintage year: 2023adv gav as of: Aug 13, 2026vintage basis: Form d first saleform d sold: $232Mform d offering: $400Mform d latest filed at: Jun 12, 2026
The fund's own reporting through time
6 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 31, 2022 | Private Equity Fund | $150M | 2 | $1.0M | 0% | yes | |
| Sep 12, 2022 | Private Equity Fund | $150M | 2 | $1.0M | 0% | yes | |
| Mar 31, 2023 | Venture Capital Fund | $151M | 2 | $1.0M | 0% | yes | |
| Mar 29, 2024 | Venture Capital Fund | $153M | 2 | $3.0M | 0% | yes | |
| Nov 26, 2024 | Venture Capital Fund | $153M | 2 | $3.0M | 0% | yes | |
| Aug 13, 2026 | Venture Capital Fund | $382M | 56 | $3.0M | 65% |
Principals and agents
6 principals on Form D, 0 placement agents
- LEI S. Li Executive Officer
- [none] Alpha Square Group GP III, LLC Executive Officer
- Peter S Lin Executive Officer
Service providers
15 named on Form ADV Schedule D and Form D
- AuditorFORVIS, LLP · SPRINGFIELD, Missouri, United StatesForm ADV filed Aug 13, 2026 reports.adviserinfo.sec.gov
- AdministratorCarta · SAN FRANCISCO, California, United StatesForm ADV filed Aug 13, 2026 reports.adviserinfo.sec.gov
- CustodianCiti · NEW YORK, New York, United StatesForm ADV filed Aug 13, 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
4 events
- Jun 12, 2026Alpha Square Group Fund III, LP filed Form D/A: $232,266,495 sold of $400,000,000, Venture Capital FundForm D filed Fact Form D
- Dec 22, 2023Alpha Square Group Fund III, LP filed Form D: no sales yet of $400,000,000, Venture Capital FundForm D filed Fact Form D
- Mar 31, 2023Auditor changed: FORVIS, LLP replaced EisnerAmper, first reported on the Form ADV filed March 31, 2023 (previous filing September 12, 2022)Auditor changed Fact Form ADV
- Mar 31, 2022Alpha Square Group Fund III, LP first reported on Form ADV by Alpha Square Group S, LLC (Private Equity Fund), GAV $150,000,000Fund first reported on Form ADV Fact Form ADV
Evidence
31 observations
Every observation on this vehicle
- Entity type: Limited Partnership Jun 12, 2026 Fact Form D
- Entity type: Limited Partnership Dec 22, 2023 Fact Form D
- Form D fund type: Venture Capital Fund Jun 12, 2026 Fact Form D
- Form D fund type: Venture Capital Fund Dec 22, 2023 Fact Form D
- Form D industry group: Pooled Investment Fund Jun 12, 2026 Fact Form D
- Form D industry group: Pooled Investment Fund Dec 22, 2023 Fact Form D
- Amendment: true Jun 12, 2026 Fact Form D
- Amendment: false Dec 22, 2023 Fact Form D
- Revenue range (Form D): Decline to Disclose Jun 12, 2026 Fact Form D
- Revenue range (Form D): Decline to Disclose Dec 22, 2023 Fact Form D
- Incorporated: withinFiveYears Jun 12, 2026 Fact Form D
- Incorporated: withinFiveYears Dec 22, 2023 Fact Form D
- Jurisdiction: Delaware Jun 12, 2026 Fact Form D
- Jurisdiction: Delaware Dec 22, 2023 Fact Form D
- Amount sold (Form D): $232M Jun 12, 2026 Fact Form D
- Amount sold (Form D): $0 Dec 22, 2023 Fact Form D
- Offering amount (Form D): $400M Jun 12, 2026 Fact Form D
- Offering amount (Form D): $400M Dec 22, 2023 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jun 12, 2026 Fact Form D
- Exemptions: 06b, 3C, 3C.1 Dec 22, 2023 Fact Form D
- First sale: 2023-10-12 Jun 12, 2026 Fact Form D
- Investors (Form D): 56 Jun 12, 2026 Fact Form D
- Investors (Form D): 0 Dec 22, 2023 Fact Form D
- Minimum investment (Form D): 0 Jun 12, 2026 Fact Form D
- Minimum investment (Form D): 0 Dec 22, 2023 Fact Form D
- Securities offered: pooled Jun 12, 2026 Fact Form D
- Securities offered: pooled Dec 22, 2023 Fact Form D
- Office address: Jun 12, 2026 Fact Form D
- Office address: Dec 22, 2023 Fact Form D
- Year of incorporation: 2021 Jun 12, 2026 Fact Form D
- Year of incorporation: 2021 Dec 22, 2023 Fact Form D
Relationships across DFX
on 2 other DFX graphs
Across the graphs
Alpha Square Group Fund III, LP is the same institution as 2 records in Private Equity and RIA and Wealth.
Private Equity1RIA 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…
Record history
1 identity change, 3 dated events on the change ledger, latest event first
- Merged in2026-09-15
- Form D filed2026-06-12source on record
- Form D filed2023-12-22source on record
+1 more change 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.