<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0002112371</cik>
        <entityName>TPY Capital Partners III SPVQ, Limited Partnership</entityName>
        <issuerAddress>
            <street1>20 RAOUL WALLENBERG ST.</street1>
            <city>TEL AVIV-YAFO</city>
            <stateOrCountry>L3</stateOrCountry>
            <stateOrCountryDescription>ISRAEL</stateOrCountryDescription>
            <zipCode>6971916</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>+972-3-680-4431</issuerPhoneNumber>
        <jurisdictionOfInc>ISRAEL</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2026</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Dekel</firstName>
                <lastName>Persi</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>31 Sasha Argov</street1>
                <city>Tel Aviv-Yafo</city>
                <stateOrCountry>L3</stateOrCountry>
                <stateOrCountryDescription>ISRAEL</stateOrCountryDescription>
                <zipCode>6962041</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Dekel Persi serves as director of the General partner of the General Partner of the issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Amit</firstName>
                <lastName>Sabag</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>20 Raoul Wallenberg St</street1>
                <city>Tel Aviv-Yafo</city>
                <stateOrCountry>L3</stateOrCountry>
                <stateOrCountryDescription>ISRAEL</stateOrCountryDescription>
                <zipCode>6971916</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Amit Sabag serves as Managing Partner of the general partner of the general partner of the issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Guy</firstName>
                <lastName>Yamen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1 Kehilat Venezia</street1>
                <city>Tel Aviv-Yafo</city>
                <stateOrCountry>L3</stateOrCountry>
                <stateOrCountryDescription>ISRAEL</stateOrCountryDescription>
                <zipCode>6951308</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Guy Yamen serves as a director of the general partner of the general partner of the issuer.</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Venture Capital Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>$5,000,001 - $25,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2026-01-29</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>30000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>8625000</totalOfferingAmount>
            <totalAmountSold>8625000</totalAmountSold>
            <totalRemaining>0</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>true</hasNonAccreditedInvestors>
            <numberNonAccreditedInvestors>0</numberNonAccreditedInvestors>
            <totalNumberAlreadyInvested>44</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>1725000</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>Series Seed investment $6.9M, org and operational expenses $345K for 8 years, management fees $1.38M (2% annually for 8 years).</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>TPY Capital Partners III SPVQ, Limited Partnership</issuerName>
                <signatureName>/s/ Dekel Persi</signatureName>
                <nameOfSigner>Dekel Persi</nameOfSigner>
                <signatureTitle>General Partner</signatureTitle>
                <signatureDate>2026-02-24</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
