Notation Capital III, LP
Notation Capital · adviser of record: Notation Capital Management, LLC · 2020 vintage
Notation Capital III, LP is a 2020 venture fund managed by Notation Capital, with $35mm raised (Form D, amount sold). It reported $38.4mm in gross assets at year-end 2025, 1.10x its size, against a peak of $45.1mm in 2022.
- Latest value held
- $38.4mm year-end 2025
- Peak
- $45.1mm year-end 2022
- Fund size
- $35mm Form D, amount sold
- Held vs. size
- 1.10x peak 1.29x
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 | $38.4mm | 1.10x | -8% over 2 yrs |
| 2023 | $41.9mm | 1.20x | -7% |
| 2022 | $45.1mm | 1.29x | – |
Other funds from Notation Capital
- Notation Capital II Circ, LLC 2022
- Notation Capital I Spruce, LLC 2022
- Notation Capital II, LP 2017
- Notation Capital, LP 2014
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 805-1838460327. Data updated October 13, 2026.
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