FPN III, L.P.
Flagship Pioneering · adviser of record: Flagship Pioneering, Inc. · 2022 vintage
FPN III, L.P. is a 2022 venture fund managed by Flagship Pioneering. It reported $346mm in gross assets at year-end 2025, against a peak of $350mm in 2022.
- Latest value held
- $346mm year-end 2025
- Peak
- $350mm year-end 2022
- Fund size
- Not on file
Value held by year-end
Gross asset value reported on Form ADV at each year-end. Open in the Fund Tracker
| Year-end | Gross assets | ÷ size | Change |
|---|---|---|---|
| 2025 | $346mm | – | -1% over 2 yrs |
| 2023 | $350mm | – | -0% |
| 2022 | $350mm | – | – |
Other funds from Flagship Pioneering
- Flagship Pioneering Fund VIII, L.P. 2023
- ET Fund 2023
- FPN II, L.P. 2021
- Fpa, L.P. 2021
- Flagship Pioneering Fund VII, L.P. 2020
- FPN, L.P. 2020
- Flagship Labs VII LLC 2020
- Flagship Pioneering Special Opportunities Fund II, L.P. 2018
- Nutritional Health LTP Fund, L.P. 2018
- Flagship Pioneering Fund VI, L.P. 2017
- Flagship Venturelabs VI LLC 2017
- Flagship Ventures Opportunities Fund I, L.P. 2016
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 805-9983482574. Data updated October 13, 2026.
Is this your fund?
Spot an error and email a correction. Facing DPI pressure? See how distribution financing works.