Bullpen Capital III, L.P.
Bullpen Capital · adviser of record: Bullpen Management, LLC · 2015 vintage
Bullpen Capital III, L.P. is a 2015 venture fund managed by Bullpen Capital, with $83.6mm raised (Form D, amount sold). It reported $81mm in gross assets at year-end 2025, 0.97x its size, against a peak of $171mm in 2021.
- Latest value held
- $81mm year-end 2025
- Peak
- $171mm year-end 2021
- Fund size
- $83.6mm Form D, amount sold
- Held vs. size
- 0.97x peak 2.04x
Value held by year-end
Gross asset value reported on Form ADV at each year-end. Dashed line: fund size. Open in the Fund Tracker
| Year-end | Gross assets | ÷ size | Change |
|---|---|---|---|
| 2025 | $81mm | 0.97x | -16% over 2 yrs |
| 2023 | $96.1mm | 1.15x | -6% |
| 2022 | $102mm | 1.22x | -40% |
| 2021 | $171mm | 2.04x | +41% |
| 2020 | $121mm | 1.44x | -5% |
| 2019 | $127mm | 1.52x | +15% |
| 2018 | $111mm | 1.32x | +16% |
| 2017 | $95.3mm | 1.14x | +35% |
| 2016 | $70.4mm | 0.84x | +9% |
| 2015 | $64.9mm | 0.78x | – |
Other funds from Bullpen Capital
- Bullpen Capital VI, LP 2022
- Bullpen Booster I SPV LLC 2022
- Bullpen Playoff Fund 2021 LLC 2021
- Bullpen Sure I SPV LLC 2021
- Bullpen Carbon I SPV LLC 2021
- Bullpen Hologram I SPV LLC 2021
- Bullpen Grin I SPV LLC 2021
- Bullpen Avantstay I SPV LLC 2021
- Bullpen Havenly I SPV LLC 2021
- Bullpen Capital V, L.P. 2020
- Bullpen Capital IV, L.P. 2018
- Bullpen Playoff Fund, L.P. 2018
About these numbers
Gross asset value is what the manager reports holding in the fund at each fiscal year-end, on SEC Form ADV, Schedule D. It includes the GP’s own commitment and is before carried interest, so it is not the LPs’ net return, and it does not show cash already distributed. A fall in value can mean distributions, markdowns or both. Fund size is the amount sold reported on Form D, which for some funds reflects only a first close. Private fund ID 805-2875088262. Data updated October 13, 2026.
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