Proof III Air LLC is a venture capital fund based in Arlington, Virginia. According to its most recent Form D, filed Dec 16, 2024, it has sold $1,641,750 of interests to 12 investors since its first sale in Dec 2024. The filing does not set a minimum investment. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(b), which does not permit general solicitation. Based on its first sale date and the amount raised, AltMountain classifies it as an emerging manager. Related persons named in the filing include Bryan Ciambella; Thanasis Delistathis; Jennifer Schretter.
- Total raised
- $1,641,750Cumulative sales reported on Form D
- Investors
- 12
- First sale
- Dec 6, 2024
- Minimum investment
- None set
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Bryan Ciambella; Thanasis Delistathis; Jennifer Schretter
- Latest Form D
- Dec 16, 2024
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Returns are not part of SEC filings. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about Proof III Air LLC
What is the minimum investment for Proof III Air LLC?
Proof III Air LLC's latest Form D, filed Dec 16, 2024, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in Proof III Air LLC?
Proof III Air LLC is generally open only to accredited investors, and it may have no more than 100 beneficial owners because it relies on Section 3(c)(1). It uses Rule 506(b), which does not allow general advertising.
How much has Proof III Air LLC raised?
Proof III Air LLC reports $1,641,750 sold from 12 investors on its Form D filed Dec 16, 2024. This is cumulative sales since the offering began, not current assets or performance.
Where is Proof III Air LLC based?
Proof III Air LLC is based in Arlington, Virginia.
When did Proof III Air LLC launch?
Proof III Air LLC reports its first sale in Dec 2024, which makes it an emerging manager by AltMountain's definition (first sale in 2021 or later and under $50 million raised).
Size compared with every venture capital fund
Raised more than 63% of the 142 venture capital funds based in Virginia, and more than 69% of all 15,180 that report sales.