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Third Lake Partners (TLP)
Third Lake Partners (TLP) is a Tampa-based fund-of-funds manager allocating capital to venture capital partnerships for institutional clients.
Third Lake Partners (TLP)
Third Lake Partners is a Tampa-based fund-of-funds manager that invests in venture capital partnerships. The firm was founded by executives with backgrounds in institutional asset management and private equity, as indicated by its public filings and business registrations. TLP operates as a manager of managers, sourcing and monitoring a roster of underlying VC funds. The firm's strategy focuses on constructing diversified venture capital portfolios by selecting managers across stages and geographies. TLP targets early-stage and growth equity funds, with a mandate that spans sectors such as enterprise software, digital health, and technology-enabled services. The firm emphasizes manager selection and due diligence, allocating capital to both emerging and established venture firms. Its portfolio is built through fund commitments rather than direct company investments, operating strictly as a fund-of-funds. TLP's investment vehicle is structured as a commingled fund or separate accounts for institutional clients. The firm serves a base that includes pension funds, endowments, and family offices. Its Tampa office serves as the operational hub, and the team includes professionals with experience in fund evaluation and portfolio construction. The firm has not publicly disclosed its total AUM or deployment figures. As of 2026, TLP continues to operate its multi-manager venture strategy from its Florida headquarters. The firm's structural differentiator is its pure fund-of-funds model focused exclusively on venture capital, rather than a broader multi-asset mandate. TLP does not co-invest or make direct deals, maintaining a selection-and-monitoring approach. This specialization allows the firm to concentrate on GP relationships and venture dynamics, but it also limits its flexibility relative to hybrid allocators.
General information
Firm type
Generic
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Tampa
Corporate office
Tampa, FL, United States
Sector focus
Frequently asked questions
Who runs investment decisions at Third Lake Partners?
The firm has not publicly named its investment committee or CEO in official communications. Third Lake Partners operates as a private fund-of-funds manager, and its leadership structure is not disclosed on public registrations or industry databases.
How does TLP source proprietary deal flow?
TLP does not source proprietary direct investments. As a fund-of-funds, the firm selects and allocates capital to external venture capital managers. Its sourcing advantage comes from manager relationships and due diligence, not company-level deal flow.
Is Third Lake Partners a single family office or a fund-of-funds?
Third Lake Partners is structured as a fund-of-funds manager, not a family office. It invests in venture capital partnerships on behalf of institutional clients including pension funds, endowments, and family offices.
What investment stages does TLP typically target?
TLP targets venture capital funds that invest across early-stage and growth equity. Its portfolio is built through commitments to VC managers, providing exposure to seed-stage through late-stage or growth companies, depending on the underlying fund's mandate.
Does TLP participate in direct co-investments or only fund commitments?
Third Lake Partners operates exclusively through fund commitments. The firm does not make direct investments or co-investments in portfolio companies. Its investment activity is limited to selecting and monitoring underlying venture capital funds.
Where is Third Lake Partners headquartered?
Third Lake Partners is headquartered in Tampa, Florida, United States. The firm has not publicly listed additional office locations.
How does TLP differentiate from other fund-of-funds?
TLP differentiates through its exclusive focus on venture capital as an asset class, rather than a multi-manager or multi-asset mandate. This specialization allows the firm to concentrate resources on VC manager selection and monitoring, though it limits flexibility relative to broader allocators.
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