EXCELSIOR VENTURE PARTNERS FUND III LLC
N-2, EX-99, 2000-06-05
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                                                                  Exhibit A(1)

                      CERTIFICATE OF FORMATION

                                 OF

              EXCELSIOR VENTURE PARTNERS FUND III, LLC



            i.    The name of the limited liability company
is Excelsior Venture Partners Fund III, LLC.

            ii. The address of its registered office in the State of
Delaware is 1209 Orange Street, County of New Castle, City of Wilmington,
Delaware 19801. The name of its registered agent at such address is The
Corporation Trust Company.

            IN WITNESS WHEREOF, the undersigned has executed this
Certificate of Formation of Excelsior Venture Partners Fund III, LLC on
this 1st day of June, 2000.


                             EXCELSIOR VENTURE PARTNERS FUND III, LLC


                             By: /s/ James F. Rorer
                                -------------------------------------
                             Name:  James F. Rorer
                             Title: Authorized Person








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