Proof III Pail LLC is a venture capital fund based in Arlington, Virginia. According to its most recent Form D, filed Sep 25, 2025, it has sold $862,250 of interests to 8 investors since its first sale in Sep 2025. 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 John Backus, Jr; none PROOF MANAGEMENT, LLC; Thanasis Delistathis.
- Total raised
- $862,250Cumulative sales reported on Form D
- Investors
- 8
- First sale
- Sep 18, 2025
- 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
- John Backus, Jr; none PROOF MANAGEMENT, LLC; Thanasis Delistathis
- Latest Form D
- Sep 25, 2025
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 Pail LLC
What is the minimum investment for Proof III Pail LLC?
Proof III Pail LLC's latest Form D, filed Sep 25, 2025, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in Proof III Pail LLC?
Proof III Pail 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 Pail LLC raised?
Proof III Pail LLC reports $862,250 sold from 8 investors on its Form D filed Sep 25, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is Proof III Pail LLC based?
Proof III Pail LLC is based in Arlington, Virginia.
When did Proof III Pail LLC launch?
Proof III Pail LLC reports its first sale in Sep 2025, 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 45% of the 142 venture capital funds based in Virginia, and more than 58% of all 15,180 that report sales.