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AnalysisAdvisorsProducts & portfoliosThe Model Desk

Ballentine Income Opportunities Fund III files Form D with no total offering amount

The pooled fund names Ballentine Partners, LLC and Ballentine Funds GP, LLC as related persons and reports $0 sold to date.

At a glance

  1. The zero on the amount-sold line means the fund had recorded no first sale when the notice went in.
  2. The rest of that day's notices sit at very different stages of their raises.
  3. Two Alexandria venture capital filings, Alexandria Ad Astra Fund I, LP and Alexandria ML Ad Astra Fund I, LP, each listed a $150.0M total offering and $0 sold, with Douglas Benowitz and the matching GP entity named as related persons on both.

Ballentine Income Opportunities Fund III, LP filed a Form D with the SEC on Oct. 13, 2026 reporting no total offering amount and $0 sold to date.

The notice classifies the vehicle as an other investment fund within the pooled investment fund group and names Ballentine Partners, LLC and Ballentine Funds GP, LLC as related persons. The zero on the amount-sold line means the fund had recorded no first sale when the notice went in. The name points to a third income-focused vehicle from the same sponsor; the notice itself describes no strategy and no predecessor funds.

The rest of that day's notices sit at very different stages of their raises. Actis Flash LP, an other investment fund, reported $30.0M sold and a first sale on Oct. 7, with its total offering amount left blank. A.G.P. Alternative Investment QP Fund LLC - Series 9, a private equity fund, reported a $25.0M total offering, $11.3M sold and a first sale on Sept. 30.

IssuerFund typeTotal offeringSold to dateFirst sale
Ballentine Income Opportunities Fund III, LPOther investment fundNot disclosed$0None reported
Alexandria Ad Astra Fund I, LPVenture capital$150.0M$0None reported
Actis Flash LPOther investment fundNot disclosed$30.0MOct. 7, 2026
A.G.P. Alternative Investment QP Fund LLC - Series 9Private equity$25.0M$11.3MSept. 30, 2026
Arboretum Apple a Series of CGF2026 LLCPrivate equity$653K$653KOct. 9, 2026

Two Alexandria venture capital filings, Alexandria Ad Astra Fund I, LP and Alexandria ML Ad Astra Fund I, LP, each listed a $150.0M total offering and $0 sold, with Douglas Benowitz and the matching GP entity named as related persons on both.

Several notices in the batch report nothing sold at all: the two Alexandria funds, three separate Align Ventures Co-Invest Fund, LP filings, Aero Capital Solutions Feeder Fund V, LP, Argonautti Capital Ventures Fund, L.P. and CC DI Holdings, LLC. Each of those also leaves the total offering amount blank, so neither side of the ledger is filled in.

The series structure shows up repeatedly. Align Ventures Co-Invest Fund, LP appears three times among the Oct. 13 filings, once for Series Y-1, once for Series M-5 and once for Series M-4, with Ben Bryce and Grant Hosking listed as related persons on all three. Five AVSF filings, for Precision Neuroscience 2026, Humanoid 2026, Corridian 2026, Blackbox 2026 and Astro Mechanica 2026, each carry an undisclosed total offering, name Michael Collins as a related person, and report amounts sold of $1.0M, $255K, $685K, $717K and $935K respectively. A sponsor using series vehicles files a separate notice for each series, which is how one name produces a cluster of filings on a single day.

What a blank denominator costs the diligence file

When the total offering amount is blank, there is no denominator: the Actis Flash notice shows $30.0M raised but does not say how much the sponsor intends to raise, and the AVSF notices show figures from $255K to $1.0M without a stated target. For an advisor tracking a private fund into a client account, that leaves the first-sale date and the amount sold as the only hard numbers in the notice. They are enough to confirm a raise has started and roughly when, and not enough to size the vehicle.

The mirror image is a fund that reports the same figure for offered and sold. Ana-EL-0803 Fund I, a series of Platform Funds 2026, LP listed a $274K offering fully sold, with a first sale on Oct. 8. Arboretum Apple a Series of CGF2026 LLC reported $653K offered and $653K sold, first sale Oct. 9. BBV T1ST 2026AL a Series of CGF2021 LLC reported $2.2M on both lines, first sale Oct. 9. AA Atomics II a Series of Koru Ventures LLC reported $330K on both lines, also first sale Oct. 9.

For the Ballentine vehicle, the Oct. 13 notice establishes only that a new pooled fund tied to Ballentine Partners and Ballentine Funds GP was registered that day, with no target and no sales disclosed. Across the batch, the amount-sold line is what separates a launch from a raise already under way.

Reported by the Products & portfolios desk from SEC EDGAR Form D filings (internal newsroom Form D query, Oct. 13, 2026 batch). Published . Corrections

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