DFX Intelligence
Bluecross Blueshield Venture Partners IV, LLC
As of · the latest observation of this vehicle; each figure below carries its own filing date
MatureFundraising status unknownADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
2 additional principals
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
- -14%reported GAV
Reported gross assets fell from $335M to $289M between the Form ADV filings of 29 Mar 2024 and 25 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: 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
- indefinitewhat may be sold, not what was raised; file 021-362893, sworn by the adviser or filed under this vehicle
- Form D sold
- $0as of the filing of Mar 16, 2020
- First sale
- unknown
- Reported GAV
- $289Mon the Form ADV filed Mar 25, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 36
- Reported on ADV
- Mar 26, 2021 to Mar 25, 2026
Fundraising evidenceWhat 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.
Unknown
latest Form D 2020-03-16, older than 15 months (fr-1)
evidence dated Mar 16, 2020.
LifecycleMature
vintage 4 to 7 years
age years: 5first sale: n/avintage year: 2021adv gav as of: Mar 25, 2026vintage basis: ADV first reportedform d sold: $0form d offering: n/aform d latest filed at: Mar 16, 2020
The fund's own reporting through time
7 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 26, 2021 | Venture Capital Fund | $309M | 35 | $2.0M | 2% | yes | |
| Apr 2, 2021 | Venture Capital Fund | $309M | 35 | $2.0M | 2% | yes | |
| Mar 29, 2022 | Venture Capital Fund | $334M | 36 | $2.0M | 2% | yes | |
| Mar 29, 2023 | Venture Capital Fund | $334M | 36 | $2.0M | 2% | yes | |
| Jan 10, 2024 | Venture Capital Fund | $334M | 36 | $2.0M | 2% | yes | |
| Mar 29, 2024 | Venture Capital Fund | $335M | 36 | $2.0M | 2% | yes | |
| Mar 25, 2026 | Venture Capital Fund | $289M | 36 | $2.0M | 2% |
Principals and agents
5 principals on Form D, 0 placement agents
- Brad Lubrand Executive Officer
- Scott Nehs Executive Officer
- John Banta Executive Officer
Service providers
3 named on Form ADV Schedule D and Form D
- AuditorPLANTE & MORAN, PLLC · CHICAGO, Illinois, United StatesForm ADV filed Mar 25, 2026 reports.adviserinfo.sec.gov
- AdministratorULTIMUS FUND SOLUTIONS, LLC · ROLLING MEADOWS, Illinois, United StatesForm ADV filed Mar 25, 2026 reports.adviserinfo.sec.gov
- CustodianNorthern Trust · CHICAGO, Illinois, United StatesForm ADV filed Mar 25, 2026 reports.adviserinfo.sec.gov
Limited partners and their reported performanceWhose 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 allocatorsWhat 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
2 events
- Mar 26, 2021Bluecross Blueshield Venture Partners IV, LLC first reported on Form ADV by Sandbox Industries (Venture Capital Fund), GAV $308,657,305Fund first reported on Form ADV Fact Form ADV
- Mar 16, 2020BlueCross BlueShield Venture Partners IV, LLC filed Form D: no sales yet (indefinite offering), Venture Capital FundForm D filed Fact Form D
Evidence
30 observations
Every observation on this vehicle
- Entity type: Limited Liability Company Fact Form D
- Entity type: Limited Liability Company Mar 16, 2020 Fact Form D
- Form D fund type: Venture Capital Fund Fact Form D
- Form D fund type: Venture Capital Fund Mar 16, 2020 Fact Form D
- Form D industry group: Pooled Investment Fund Fact Form D
- Form D industry group: Pooled Investment Fund Mar 16, 2020 Fact Form D
- Amendment: false Fact Form D
- Amendment: false Mar 16, 2020 Fact Form D
- Revenue range (Form D): Decline to Disclose Fact Form D
- Revenue range (Form D): Decline to Disclose Mar 16, 2020 Fact Form D
- Incorporated: withinFiveYears Fact Form D
- Incorporated: withinFiveYears Mar 16, 2020 Fact Form D
- Jurisdiction: Delaware Fact Form D
- Jurisdiction: Delaware Mar 16, 2020 Fact Form D
- Amount sold (Form D): $0 Fact Form D
- Amount sold (Form D): $0 Mar 16, 2020 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Mar 16, 2020 Fact Form D
- Indefinite offering: true Fact Form D
- Indefinite offering: true Mar 16, 2020 Fact Form D
- Investors (Form D): 0 Fact Form D
- Investors (Form D): 0 Mar 16, 2020 Fact Form D
- Minimum investment (Form D): 0 Fact Form D
- Minimum investment (Form D): 0 Mar 16, 2020 Fact Form D
- Securities offered: pooled Fact Form D
- Securities offered: pooled Mar 16, 2020 Fact Form D
- Office address: Fact Form D
- Office address: Mar 16, 2020 Fact Form D
- Year of incorporation: 2020 Fact Form D
- Year of incorporation: 2020 Mar 16, 2020 Fact Form D
Relationships across DFX
on 1 other DFX graph
Across the graphs
Bluecross Blueshield Venture Partners IV, LLC 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.
Checking your plan…
Record history
2 dated events on the change ledger, latest event first
- Fund first reported on ADV2021-03-26source on record
- Form D filed2020-03-16source 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.