Blueprint Races to Close on $333 Million Third Fund

Blueprint Equity has held a first and final closing of its third fund with $333 million of capital. Fund III was significantly oversubscribed, supported by both new investors and limited partners in the firm’s earlier funds.

Founded in 2018, Blueprint Equity makes control and minority investments of $5 million to $15 million in founder-led enterprise software, B2B, and technology-enabled services businesses that have from $1 million to $7 million in revenue. Since its founding, the firm has completed 24 platform investments and seven partial recapitalizations.

Strong demand for Blueprint’s third fund enabled the firm to complete fundraising in just 12 days. Blueprint opened its data room and made materials available to prospective limited partners on Monday, January 5, before holding a final close on Friday, January 16.

“As we launch our third fund, we are doubling down on what works: backing exceptional founders building real businesses outside the traditional venture slipstream,” said Bobby Ocampo, co-founder and managing partner of Blueprint. “Today’s market rewards discipline, efficiency, and operational rigor. We’ve built Blueprint to be the first institutional partner that helps young, high-growth businesses professionalize and prepare for meaningful scale, without forcing them onto a funding treadmill they don’t need.”

Limited partners in Fund III include endowments, foundations, and hospital systems, as well as returning investors from prior funds, including Accolade Partners, The David and Lucile Packard Foundation, and Makena Capital Management.

“With this fund, we’re continuing our mission and expanding our ability to support the next generation of durable, founder-led software companies,” said Sheldon Lewis, co-founder and managing partner of Blueprint. “In a market where many funds have moved upstream, Fund III allows us to stay committed to our target segment of the market where we see strong fundamentals, including profitable growth, real customers, sticky products, and founders who know their industries better than anyone. It’s a powerful moment to lean into that focus.”

“Blueprint is an elite manager in growth equity—disciplined, consistent, and relentlessly focused on being the best,” said Aram Verdiyan, a partner at Accolade Partners. “The team they’ve assembled is exceptional, and the results speak for themselves. Re-upping with them was a no-brainer for us.”

“Blueprint has been the kind of manager we value most: rigorous in their investing, thoughtful in their engagement, and always high integrity in how they operate,” said Justine Liu, a director at Makena Capital Management. “They’ve built an outstanding, best-in-class team and platform over time. We’re proud to continue our long-term relationship with Blueprint in this upcoming fund.”

In tandem with the Fund III close, Blueprint has announced several promotions, including Francis Donohue and John Bonhard to principal, Connor Nevelle to vice president, and Jacob DeMarco and Ina Kodra to senior associate.

With the close of Fund III, the San Diego-area-based firm now has more than $600 million of assets under management.