DFX Intelligence
2048 Ventures III, LP
As of · the latest observation of this vehicle; each figure below carries its own filing date
Newly closedClosed 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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What matters now
- $82Msold at the filing
Latest Form D filed on 2 Mar 2026: $82M sold of $82M offered, 108 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.
Drawing the relationship network…
Amounts, each with its basis
- Vintage
- 2025basis: 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
- $82.0Mwhat may be sold, not what was raised; file 021-538725, sworn by the adviser or filed under this vehicle
- Form D sold
- $82.0Mas of the filing of Mar 2, 2026, 108 investors
- First sale
- Feb 20, 2025
- Reported GAV
- $76.2Mon the Form ADV filed Mar 31, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 108
- Reported on ADV
- unknown
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 2026-03-02: the stated $82.0M offering reported fully sold (fr-1)
evidence dated Mar 2, 2026.
Lifecycle
Newly closed
Lifecycle
first sale within 24 months; Form D sold out or quiet
first sale: Feb 20, 2025vintage year: 2025adv gav as of: Mar 31, 2026vintage basis: Form d first saleform d sold: $82.0Mform d offering: $82.0Mform d latest filed at: Mar 2, 2026
The fund's own reporting through time
1 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 31, 2026 | Venture Capital Fund | $76.2M | 108 | $75,000 | 2% |
Principals and agents
2 principals on Form D, 0 placement agents
- 2048 Ventures III GP, LLC Director
- Alex Iskold Director
Service providers
5 named on Form ADV Schedule D and Form D
- AuditorFrank, Rimerman + Co. · SAN JOSE, California, United StatesForm ADV filed Mar 31, 2026 reports.adviserinfo.sec.gov
- AdministratorADURO ADVISORS, LLC · DENVER, Colorado, 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).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
3 events
- Mar 31, 20262048 Ventures III, LP first reported on Form ADV by 2048 Ventures, LLC (Venture Capital Fund), GAV $76,194,127Fund first reported on Form ADV Inference Form ADV
- Mar 2, 20262048 Ventures III, LP filed Form D/A: $82,048,000 sold of $82,048,000, Venture Capital FundForm D filed Fact Form D
- Feb 20, 20252048 Ventures III, LP filed Form D: no sales yet of $75,000,000, Venture Capital FundForm D filed Fact Form D
Evidence
31 observations
Every observation on this vehicle
- Entity type: Limited Partnership Mar 2, 2026 Fact Form D
- Entity type: Limited Partnership Feb 20, 2025 Fact Form D
- Form D fund type: Venture Capital Fund Mar 2, 2026 Fact Form D
- Form D fund type: Venture Capital Fund Feb 20, 2025 Fact Form D
- Form D industry group: Pooled Investment Fund Mar 2, 2026 Fact Form D
- Form D industry group: Pooled Investment Fund Feb 20, 2025 Fact Form D
- Amendment: true Mar 2, 2026 Fact Form D
- Amendment: false Feb 20, 2025 Fact Form D
- Revenue range (Form D): Decline to Disclose Mar 2, 2026 Fact Form D
- Revenue range (Form D): Decline to Disclose Feb 20, 2025 Fact Form D
- Incorporated: withinFiveYears Mar 2, 2026 Fact Form D
- Incorporated: withinFiveYears Feb 20, 2025 Fact Form D
- Jurisdiction: Delaware Mar 2, 2026 Fact Form D
- Jurisdiction: Delaware Feb 20, 2025 Fact Form D
- Amount sold (Form D): $82.0M Mar 2, 2026 Fact Form D
- Amount sold (Form D): $0 Feb 20, 2025 Fact Form D
- Offering amount (Form D): $82.0M Mar 2, 2026 Fact Form D
- Offering amount (Form D): $75.0M Feb 20, 2025 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Mar 2, 2026 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Feb 20, 2025 Fact Form D
- First sale: 2025-02-20 Mar 2, 2026 Fact Form D
- Investors (Form D): 108 Mar 2, 2026 Fact Form D
- Investors (Form D): 0 Feb 20, 2025 Fact Form D
- Minimum investment (Form D): 0 Mar 2, 2026 Fact Form D
- Minimum investment (Form D): 0 Feb 20, 2025 Fact Form D
- Securities offered: pooled Mar 2, 2026 Fact Form D
- Securities offered: pooled Feb 20, 2025 Fact Form D
- Office address: Mar 2, 2026 Fact Form D
- Office address: Feb 20, 2025 Fact Form D
- Year of incorporation: 2025 Mar 2, 2026 Fact Form D
- Year of incorporation: 2025 Feb 20, 2025 Fact Form D
Relationships across DFX
on 1 other DFX graph
Across the graphs
2048 Ventures III, LP 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.
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Record history
3 dated events on the change ledger, latest event first
- Fund first reported on ADV2026-03-31source on record
- Form D filed2026-03-02source on record
- Form D filed2025-02-20source 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.