LB III, L.P. is a venture capital fund based in Chicago. According to its most recent Form D, filed May 24, 2024, it has sold $289,000,000 of interests to 64 investors since its first sale in Nov 2022. The filing does not set a minimum investment. It relies on the Section 3(c)(7) exclusion, so investors generally must be qualified purchasers. The offering uses Rule 506(b), which does not permit general solicitation. Related persons named in the filing include Eric Lefkofsky; Lightbank Asset Management, LLC; LB GP III, LLC.
- Total raised
- $289,000,000Cumulative sales reported on Form D
- Investors
- 64
- First sale
- Nov 17, 2022
- Minimum investment
- None set
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Eric Lefkofsky; Lightbank Asset Management, LLC; LB GP III, LLC
- Latest Form D
- May 24, 2024
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 LB III, L.P.
What is the minimum investment for LB III, L.P.?
LB III, L.P.'s latest Form D, filed May 24, 2024, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in LB III, L.P.?
LB III, L.P. is generally open only to qualified purchasers (generally individuals with at least $5 million in investments), because it relies on Section 3(c)(7). It uses Rule 506(b), which does not allow general advertising.
How much has LB III, L.P. raised?
LB III, L.P. reports $289,000,000 sold from 64 investors on its Form D filed May 24, 2024. This is cumulative sales since the offering began, not current assets or performance.
Where is LB III, L.P. based?
LB III, L.P. is based in Chicago.
When did LB III, L.P. launch?
LB III, L.P. reports its first sale in Nov 2022.