Active Capital III, L.P. is a venture capital fund based in San Antonio, Texas. According to its most recent Form D, filed Jun 17, 2025, it has sold $28,313,000 of interests to 98 investors since its first sale in May 2024. The filing does not set a minimum investment. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(b), which does not permit general solicitation. Based on its first sale date and the amount raised, AltMountain classifies it as an emerging manager. Related persons named in the filing include Patrick Matthews; AC I Upper Tier GP, LLC; Ac III GP, L.p.
- Total raised
- $28,313,000Cumulative sales reported on Form D
- Investors
- 98
- First sale
- May 16, 2024
- Minimum investment
- None set
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Patrick Matthews; AC I Upper Tier GP, LLC; Ac III GP, L.p
- Latest Form D
- Jun 17, 2025
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Returns are not part of SEC filings. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about Active Capital III, L.P.
What is the minimum investment for Active Capital III, L.P.?
Active Capital III, L.P.'s latest Form D, filed Jun 17, 2025, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in Active Capital III, L.P.?
Active Capital III, L.P. is generally open only to accredited investors, and it may have no more than 100 beneficial owners because it relies on Section 3(c)(1). It uses Rule 506(b), which does not allow general advertising.
How much has Active Capital III, L.P. raised?
Active Capital III, L.P. reports $28,313,000 sold from 98 investors on its Form D filed Jun 17, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is Active Capital III, L.P. based?
Active Capital III, L.P. is based in San Antonio, Texas.
When did Active Capital III, L.P. launch?
Active Capital III, L.P. reports its first sale in May 2024, which makes it an emerging manager by AltMountain's definition (first sale in 2021 or later and under $50 million raised).
Size compared with every venture capital fund
Raised more than 92% of the 495 venture capital funds based in Texas, and more than 94% of all 15,160 that report sales.