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    <testOrLive>LIVE</testOrLive>

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        <issuerAddress>
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            <city>NEW YORK</city>
            <stateOrCountry>NY</stateOrCountry>
            <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
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    <issuerList>
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            <entityName>Lerer Ventures III-A, LLC</entityName>
            <issuerAddress>
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                <city>NEW YORK</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10012</zipCode>
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            <issuerPhoneNumber>646-738-3407</issuerPhoneNumber>
            <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
            <issuerPreviousNameList>
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        </issuer>
        <issuer>
            <cik>0001556795</cik>
            <entityName>Lerer Ventures III-B, LP</entityName>
            <issuerAddress>
                <street1>560 BROADWAY, SUITE 308</street1>
                <city>NEW YORK</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10012</zipCode>
            </issuerAddress>
            <issuerPhoneNumber>646-738-3407</issuerPhoneNumber>
            <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
            <issuerPreviousNameList>
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            <edgarPreviousNameList>
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            <entityType>Limited Partnership</entityType>
            <yearOfInc>
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                <value>2011</value>
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    <relatedPersonsList>
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            <relatedPersonName>
                <firstName>N/A</firstName>
                <middleName>N/A</middleName>
                <lastName>Lerer Ventures III GP, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Lerer Ventures Management, LLC</street1>
                <street2>560 Broadway, Suite 308</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10012</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
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        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <middleName>N/A</middleName>
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                <stateOrCountry>NY</stateOrCountry>
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                <zipCode>10012</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
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            </relatedPersonRelationshipList>
            <relationshipClarification>Management Company of the Issuers</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kenneth</firstName>
                <middleName>N/A</middleName>
                <lastName>Lerer</lastName>
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            <relatedPersonAddress>
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                <street2>560 Broadway, Suite 308</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10012</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of the General Partner/Manager of the Issuers</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Benjamin</firstName>
                <middleName>N/A</middleName>
                <lastName>Lerer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
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                <street2>560 Broadway, Suite 308</street2>
                <city>New York</city>
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                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
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            </relatedPersonAddress>
            <relatedPersonRelationshipList>
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            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of the General Partner/Manager of the Issuers</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jordan</firstName>
                <middleName>N/A</middleName>
                <lastName>Cooper</lastName>
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            <relatedPersonAddress>
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                <street2>560 Broadway, Suite 308</street2>
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                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10012</zipCode>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Eric</firstName>
                <middleName>N/A</middleName>
                <lastName>Hippeau</lastName>
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            <relatedPersonAddress>
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                <street2>560 Broadway, Suite 308</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10012</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
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            <relationshipClarification>Manager of the General Partner/Manager of the Issuers</relationshipClarification>
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    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Venture Capital Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.1</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001556789-12-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2012-09-14</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>36150000</totalOfferingAmount>
            <totalAmountSold>36150000</totalAmountSold>
            <totalRemaining>0</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>77</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>The General Partner (or its designee) is entitled to a management fee payable by certain of the Issuers.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>true</authorizedRepresentative>
            <signature>
                <issuerName>Lerer Ventures III, LP</issuerName>
                <signatureName>/s/ Eric Hippeau</signatureName>
                <nameOfSigner>Eric Hippeau</nameOfSigner>
                <signatureTitle>Manager of the General Partner/Manager of the Issuers</signatureTitle>
                <signatureDate>2012-10-23</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
