Blue Lake Capital
Blue Lake Capital last closed a fund in May 2022 — 54 months ago. By its own rhythm, that is so far past its usual gap that the pattern may no longer hold.
Blue Lake Capital has raised 3 times about every 24 months. The last was Blue Lake Capital Fund IV, L.P. It is now past twice its usual gap — quiet, not due. No month is claimed.
Historically about 1 in 14 quiet firms filed within a year. The month is approximate — how often this is right.
Late-cycle This firm is deep enough into its last fund that a new one would not be a surprise.
- Funds on file
- 4
- Capital raised
- $733M
- Latest close
- May 2022
- Based in
- non-US
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| Blue Lake Capital Fund IV, L.P. | May 2022 | $211M | 0001920805 ↗ |
| Blue Lake Capital Opportunity Fund I, L.P. | June 2021 | $120M | 0001869336 ↗ |
| Blue Lake Capital Fund III, L.P. | December 2019 | $202M | 0001795973 ↗ |
| Blue Lake Capital Fund II, L.P. | July 2017 | $200M | 0001712437 ↗ |
Each row links to that vehicle’s Form D filings on EDGAR — the name, date and amount above should match what is filed there.
Named on filings
Lei Hu, Shunhua Tang, Tang Shunhua
What Blue Lake Capital invests in
- Typical fund
- $202M median, early stage, Series A-B scale
- Website
- bluelakecap.com
Service providers
- Fund administrator
- Langham Hall (4 funds)
- Auditor
- EY (4 funds)
From Form ADV filed by BLC ADVISORS, LTD. CRD 308650 ↗, latest filing April 2026, covering 4 funds linked to this firm by Form D file number. Form ADV is filed once a year, so a provider may have changed since. How this is matched.
What this is. Every figure on this page comes from Form D filings with the U.S. Securities and Exchange Commission — public records, reproduced here as filed. Service providers, where shown, come from the adviser’s Form ADV and are dated.
What it is not. Single-deal SPVs, feeder vehicles and GP or employee commitment funds are listed but excluded from fund counts and capital totals: an SPV is one investment, a feeder holds the same capital as its master, and a “Principals” or “Entrepreneurs” fund closes alongside a main fund rather than being raised in its own right. Capital deployed from a family office, a corporate balance sheet or an evergreen structure never arrives as a fund close, so a firm doing that looks quiet here. Amounts are as of the last amendment and go stale. Dates are the date of first sale — a fund's first close, not its final one. Funds filed as “Indefinite” are excluded from totals rather than counted as zero, so a total is a floor.
“No recent fund” is a statement about filings. It is not a statement about whether a firm is solvent, investing, or still in business.