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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001403748-10-000002.txt : 20101215
<SEC-HEADER>0001403748-10-000002.hdr.sgml : 20101215
<ACCEPTANCE-DATETIME>20101214191933
ACCESSION NUMBER:		0001403748-10-000002
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20101215
DATE AS OF CHANGE:		20101214
EFFECTIVENESS DATE:		20101215

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Omega Fund III, L.P.
		CENTRAL INDEX KEY:			0001403748
		IRS NUMBER:				980528434
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-151899
		FILM NUMBER:		101251809

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 431, 13-15 VICTORIA ROAD
		STREET 2:		CHANNEL ISLANDS
		CITY:			ST. PETER PORT, GUERNSEY
		STATE:			X0
		ZIP:			GY1 3ZD
		BUSINESS PHONE:		4401481713843

	MAIL ADDRESS:	
		STREET 1:		PO BOX 431, 13-15 VICTORIA ROAD
		STREET 2:		CHANNEL ISLANDS
		CITY:			ST. PETER PORT, GUERNSEY
		STATE:			X0
		ZIP:			GY1 3ZD
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001403748</cik>
        <entityName>Omega Fund III, L.P.</entityName>
        <issuerAddress>
            <street1>13-15 VICTORIA ROAD</street1>
            <street2>CHANNEL ISLANDS</street2>
            <city>ST. PETER PORT</city>
            <stateOrCountry>Y7</stateOrCountry>
            <stateOrCountryDescription>GUERNSEY</stateOrCountryDescription>
            <zipCode>GY1 1HU</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>4401481735806</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2007</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>Omega Fund III GP, L.P.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>PO BOX 431, 13-15 VICTORIA ROAD</street1>
                <street2>CHANNEL ISLANDS</street2>
                <city>ST. PETER PORT</city>
                <stateOrCountry>Y7</stateOrCountry>
                <stateOrCountryDescription>GUERNSEY</stateOrCountryDescription>
                <zipCode>GY1 1HU</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner of the Issuer (&quot;General Partner&quot;)</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>Omega Fund III G.P., Ltd.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>PO BOX 431, 13-15 VICTORIA ROAD</street1>
                <street2>CHANNEL ISLANDS</street2>
                <city>ST. PETER PORT</city>
                <stateOrCountry>Y7</stateOrCountry>
                <stateOrCountryDescription>GUERNSEY</stateOrCountryDescription>
                <zipCode>GY1 1HU</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>The general partner of the General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>Omega Fund Management Limited</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>PO BOX 431, 13-15 VICTORIA ROAD</street1>
                <street2>CHANNEL ISLANDS</street2>
                <city>ST. PETER PORT</city>
                <stateOrCountry>Y7</stateOrCountry>
                <stateOrCountryDescription>GUERNSEY</stateOrCountryDescription>
                <zipCode>GY1 1HU</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>The Investment Manager of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Otello</firstName>
                <lastName>Stampacchia</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Alpha Biotechnology Consulting FZE</street1>
                <street2>PO Box 186549</street2>
                <city>Dubai</city>
                <stateOrCountry>C0</stateOrCountry>
                <stateOrCountryDescription>UNITED ARAB EMIRATES</stateOrCountryDescription>
                <zipCode>unknown</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>A Director of the general partner of the General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kevin</firstName>
                <lastName>Brennan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>PO BOX 431, 13-15 VICTORIA ROAD</street1>
                <street2>CHANNEL ISLANDS</street2>
                <city>ST. PETER PORT</city>
                <stateOrCountry>Y7</stateOrCountry>
                <stateOrCountryDescription>GUERNSEY</stateOrCountryDescription>
                <zipCode>GY1 1HU</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>A Director of the general partner of the General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Sharon</firstName>
                <lastName>Alvarez</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>PO BOX 431, 13-15 VICTORIA ROAD</street1>
                <street2>CHANNEL ISLANDS</street2>
                <city>ST. PETER PORT</city>
                <stateOrCountry>Y7</stateOrCountry>
                <stateOrCountryDescription>GUERNSEY</stateOrCountryDescription>
                <zipCode>GY1 1HU</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>A Director of the general partner of the General Partner</relationshipClarification>
        </relatedPersonInfo>
    </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.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2007-03-14</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1149965</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>106202640</totalOfferingAmount>
            <totalAmountSold>106202640</totalAmountSold>
            <totalRemaining>0</totalRemaining>
            <clarificationOfResponse>The functional currency of the Issuer is the Euro (?).  All amounts listed on this Form D have been converted from Euros to USD based on current exchange rates.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>15</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>The Issuer's Limited Partners are obligated to pay to the General Partner or an affiliate thereof an annual management fee.  The amount to be paid, number of years to be paid and extent to be paid out of adjusted gross proceeds are unknown at this time.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Omega Fund III, L.P.</issuerName>
                <signatureName>/s/ Sharon Alvarez</signatureName>
                <nameOfSigner>Sharon Alvarez</nameOfSigner>
                <signatureTitle>A Director of the general partner of the General Partner</signatureTitle>
                <signatureDate>2010-12-14</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----