Springblue B-III SPV (Z), L.P.
Goodwater Capital · adviser of record: Goodwater Capital, LLC · 2023 vintage
Springblue B-III SPV (Z), L.P. is a 2023 venture fund managed by Goodwater Capital, with $20mm raised (Form D, amount sold). It reported $157mm in gross assets at year-end 2025, 7.87x its size, its highest reported value.
- Latest value held
- $157mm year-end 2025
- Peak
- $157mm year-end 2025
- Fund size
- $20mm Form D, amount sold
- Held vs. size
- 7.87x peak 7.87x
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 | $157mm | 7.87x | +679% over 2 yrs |
| 2023 | $20.2mm | 1.01x | – |
Other funds from Goodwater Capital
- Goodwater Infinity III, L.P. 2022
- Springblue B-III, L.P. 2022
- Goodwater Taehwa, L.P. 2022
- Goodwater Infinity II, L.P. 2021
- Goodwater Capital IV, L.P. 2021
- Springblue B, L.P. 2021
- Beyond SPV I, L.P. 2021
- Springblue A, L.P. 2021
- Goodwater Infinity I-F, L.P. 2020
- Goodwater Seneca, L.P. 2020
- Goodwater Infinity I, L.P. 2019
- Goodwater Capital III, 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 805-7910604923. Data updated October 13, 2026.
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