About Blackhorn Ventures
Blackhorn Ventures is a venture capital firm based in Denver, CO. Since July 2017 it has filed Form D notices for four funds and four related vehicles. The largest, Blackhorn Ventures Industrial Impact Fund II, LP, reported $131.3M raised from 83 investors.
Funds
Blackhorn Ventures has four funds on file with the SEC, plus four feeder, opportunity or co-investment vehicles. The funds have reported $144.9M raised.
Funds (SEC Form D)
| Fund | First filed | Amount raised | Target | Investors |
|---|---|---|---|---|
| Blackhorn Ventures Industrial Impact Fund III, LPVenture capital fund · 3(c)(1), 3(c)(7) · Form D ↗ | Mar 30, 2026 | None yet | $150,000,000 | — |
| Blackhorn Ventures Industrial Impact Fund II, LPVenture capital fund · 3(c)(1), 3(c)(7) · Form D/A ↗ | May 10, 2022 | $131,360,000May 2022: $0 Sep 2024: $131.3M | $250,000,000 | 83 |
| Blackhorn Select, LPVenture capital fund · Form D ↗ | Mar 12, 2021 | None yet | $80,000,000 | — |
| Blackhorn Ventures, LPVenture capital fund · 3(c)(1) · Form D ↗ | Jul 10, 2017 | $13,575,000 | $25,000,000 | 27 |
Amounts and investor counts come from each fund's latest Form D or amendment; the dated lines under an amount show what earlier filings reported. "Not set" means the fund did not give a target. Form D does not report returns.
Feeder, opportunity and co-investment vehicles (4)
| Vehicle | Kind | First filed | Amount raised | Investors | Filing |
|---|---|---|---|---|---|
| Blackhorn FT SPV, LP | Co-investment vehicle | Jun 27, 2024 | $700,000 | — | Form D ↗ |
| Blackhorn Ventures Special Opportunities Fund - M, LP | Opportunity fund | Jan 2, 2024 | $20,000,000 | 1 | Form D ↗ |
| Blackhorn AG SPV, LP | Co-investment vehicle | Aug 9, 2023 | $1,280,000 | 3 | Form D ↗ |
| Blackhorn Locomation Investment SPV LLC | Co-investment vehicle | Sep 30, 2021 | — | — | Form D ↗ |
These vehicles usually hold a single investment or a small group of them. Their filings do not name the companies they hold.
Portfolio Companies
Companies where a Blackhorn Ventures partner sits on the board, according to the company's own Form D. A board seat usually comes with an investment, but Form D does not list investors.
| Company | Location | Blackhorn Ventures director | On the board | Latest raise |
|---|---|---|---|---|
| Lone Gull Holdings, Ltd. | Portland, OR | Trevor Zimmerman | 2026 | $94.0M ↗Mar 2026 |
| Tristar AI Inc. | Cambridge, MA | Philip O'Connor | 2026 | $13.0M ↗Jul 2026 |
| Afference Inc. | Boulder, CO | Trevor Zimmerman | 2025 | $15.3M ↗Dec 2025 |
People
Partners and officers named on Blackhorn Ventures's fund filings.
Sources
- SECEvery Form D filing behind this page is linked in the tables above.