DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
Funds / B Capital Ascent Fund III, L.P.
B Capital Ascent Fund III, L.P.
FundraisingEvergreen or indefinite offeringFundADV: Venture Capital FundB Capital GroupCayman Islands
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
- indefinitewhat may be sold, not what was raised; file 021-494105, sworn by the adviser or filed under this vehicle
- Form D sold
- $307Mas of the filing of Jul 3, 2025, 36 investors
- First sale
- Oct 12, 2023
- Reported GAV
- $441Mon the Form ADV filed Sep 14, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 43
- Reported on ADV
- Mar 28, 2024 to Sep 14, 2026
Fundraising evidence
Evergreen or indefinite offering
Form D filed or amended 2025-07-03: offering indefinite, sold $307.3M (fr-1)
evidence dated Jul 3, 2025. A 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
Fundraising
Form D within 18 months and the offering is not sold out
first sale: 2023-10-12vintage year: $2,023adv gav as of: 2026-09-14vintage basis: form_d_first_saleform d sold usd: $307Mform d offering usd: n/aform d latest filed at: 2025-07-03
The fund's own reporting through time
2 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 28, 2024 | Venture Capital Fund | $228M | 22 | 14% | yes | ||
| Sep 14, 2026 | $441M | 43 | $5.0M | 15% |
Principals and agents
2 principals on Form D, 2 placement agents
- B Capital Ascent GP III, L.P. Promoter
- B Capital Ascent GP III, L.P. general partner (ADV 7.B.(1).A.3)
- Bank of Singapore Limited placement agent
- UBS Ag placement agent
Limited partners and their reported performance
2 public LP reports
| LP | Vintage (LP’s) | Committed | Paid in | Distributed | Remaining value | Net IRR | Multiple | As of |
|---|---|---|---|---|---|---|---|---|
| California Public Employees' Retirement System calpers.ca.gov | 2024 | $122M | $35.3M | $63,552 | $57.6M | not meaningful yet | unknown | Dec 31, 2025 |
| New York State Common Retirement Fund osc.ny.gov | 2024 | $100M | $8.9M | $9,162 | $12.5M | not meaningful yet | 1.4x | Mar 31, 2025 |
Each 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).
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 B Capital Ascent Fund III, L.P.: $122,473,076 committed, vintage 2024LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
- Dec 31, 2025CalPERS reports B Capital Ascent Fund III, L.P.: $122,473,076 committed, vintage 2024LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
- Jul 3, 2025B Capital Ascent Fund III, L.P. filed Form D/A: $307,334,615 sold (indefinite offering), Venture Capital FundForm D filed Fact SEC EDGAR Form D data sets (quarterly)
- Mar 31, 2025NYSCRF reports B Capital Ascent Fund III, L.P.: $100,000,000 committed, vintage 2024LP commitment disclosed Fact Public pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)
- Mar 28, 2024B Capital Ascent Fund III, L.P. first reported on Form ADV by B Capital Group (Venture Capital Fund), GAV $228,403,846Fund first reported on Form ADV Fact SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Oct 10, 2023B Capital Ascent Fund III, L.P. filed Form D: no sales yet (indefinite offering), Venture Capital FundForm D filed Fact SEC EDGAR Form D data sets (quarterly)
Evidence
32 observations
Every observation on this vehicle
- Adv pdf fund: B CAPITAL ASCENT FUND III, L.P. Sep 14, 2026 Fact IAPD Form ADV Part 1 PDF per firm (current filing, Schedule D 7.B.(1) and Schedule A)
- Entity type: Other Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Entity type: Other Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- Form D fund type: Venture Capital Fund Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Form D fund type: Venture Capital Fund Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- Form D industry group: Pooled Investment Fund Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Form D industry group: Pooled Investment Fund Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- Amendment: true Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Amendment: false Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- Revenue range (Form D): Decline to Disclose Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Revenue range (Form D): Decline to Disclose Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- Incorporated: withinFiveYears Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Incorporated: withinFiveYears Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- Jurisdiction: CAYMAN ISLANDS Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Jurisdiction: CAYMAN ISLANDS Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- Amount sold (Form D): $307M Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Amount sold (Form D): $0 Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- Exemptions: 06b, 3C, 3C.7 Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Exemptions: 06b, 3C, 3C.7 Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- First sale: 2023-10-12 Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Indefinite offering: true Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Indefinite offering: true Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- Investors (Form D): 36 Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Investors (Form D): 0 Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- Minimum investment (Form D): 0 Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Minimum investment (Form D): 0 Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- Securities offered: pooled Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Securities offered: pooled Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- Office address: C/O B CAPITAL GROUP MANAGEMENT, L.P., 1240 ROSECRANS AVE., 5TH FLOOR, MANHATTAN BEACH, CA, 90266 Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Office address: C/O B CAPITAL GROUP MANAGEMENT, L.P., 1240 ROSECRANS AVE., 5TH FLOOR, MANHATTAN BEACH, CA, 90266 Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)
- Year of incorporation: 2023 Jul 3, 2025 Fact SEC EDGAR Form D data sets (quarterly)
- Year of incorporation: 2023 Oct 10, 2023 Fact SEC EDGAR Form D data sets (quarterly)