Springblue B-III, L.P.
Goodwater Capital · adviser of record: Goodwater Capital, LLC · 2022 vintage
Springblue B-III, L.P. is a 2022 venture fund managed by Goodwater Capital, with $40mm raised (Form D, amount sold). It reported $45.5mm in gross assets at year-end 2025, 1.14x its size, its highest reported value.
- Latest value held
- $45.5mm year-end 2025
- Peak
- $45.5mm year-end 2025
- Fund size
- $40mm Form D, amount sold
- Held vs. size
- 1.14x peak 1.14x
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 | $45.5mm | 1.14x | +14% over 2 yrs |
| 2023 | $40mm | 1.00x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| CalPERS | 2026-03-31 | $40mm | 0.00x | 1.33x | 1.33x |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
Other funds from Goodwater Capital
- Springblue B-III SPV (Z), L.P. 2023
- Goodwater Infinity 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 805-9595131303. Data updated October 13, 2026.
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