-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 yyq6HVjcAcXa+91h09t/EA==

<SEC-DOCUMENT>0001448153-10-000002.txt : 20100210
<SEC-HEADER>0001448153-10-000002.hdr.sgml : 20100210
<ACCEPTANCE-DATETIME>20100210140731
ACCESSION NUMBER:		0001448153-10-000002
CONFORMED SUBMISSION TYPE:	D/A
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:		20100210
DATE AS OF CHANGE:		20100210
EFFECTIVENESS DATE:		20100210

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BAIRD CAPITAL PARTNERS V LP
		CENTRAL INDEX KEY:			0001448148
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-123548
		FILM NUMBER:		10587384

	BUSINESS ADDRESS:	
		STREET 1:		777 East Wisconsin Avenue
		CITY:			Milwaukee
		STATE:			WI
		ZIP:			53202
		BUSINESS PHONE:		414-765-3500

	MAIL ADDRESS:	
		STREET 1:		777 East Wisconsin Avenue
		CITY:			Milwaukee
		STATE:			WI
		ZIP:			53202
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001448148</cik>
        <entityName>BAIRD CAPITAL PARTNERS V LP</entityName>
        <issuerAddress>
            <street1>777 East Wisconsin Avenue</street1>
            <city>Milwaukee</city>
            <stateOrCountry>WI</stateOrCountry>
            <zipCode>53202</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>414-765-3500</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2008</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Paul</firstName>
                <middleName>John</middleName>
                <lastName>Carbone</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>227 West Monroe Street</street1>
                <street2>Suite 2200</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60606</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Charles</firstName>
                <middleName>Andrew</middleName>
                <lastName>Brickman</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>227 West Monroe Street</street1>
                <street2>Suite 2200</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60606</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Randall</firstName>
                <middleName>Arthur</middleName>
                <lastName>Mehl</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>777 East Wisconsin Avenue</street1>
                <city>Milwaukee</city>
                <stateOrCountry>WI</stateOrCountry>
                <zipCode>53202</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gordon</firstName>
                <middleName>George</middleName>
                <lastName>Pan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>227 West Monroe Street</street1>
                <street2>Suite 2200</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60606</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>Paul</middleName>
                <lastName>Pelisek</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>777 East Wisconsin Avenue</street1>
                <city>Milwaukee</city>
                <stateOrCountry>WI</stateOrCountry>
                <zipCode>53202</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Paul</firstName>
                <middleName>Edward</middleName>
                <lastName>Purcell</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>777 East Wisconsin Avenue</street1>
                <city>Milwaukee</city>
                <stateOrCountry>WI</stateOrCountry>
                <zipCode>53202</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>John</middleName>
                <lastName>Venable</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>777 East Wisconsin Avenue</street1>
                <city>Milwaukee</city>
                <stateOrCountry>WI</stateOrCountry>
                <zipCode>53202</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Todd</firstName>
                <middleName>Steven</middleName>
                <lastName>Nichol</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>777 East Wisconsin Avenue</street1>
                <city>Milwaukee</city>
                <stateOrCountry>WI</stateOrCountry>
                <zipCode>53202</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Paul</firstName>
                <middleName>Lee</middleName>
                <lastName>Schultz</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>777 East Wisconsin Avenue</street1>
                <city>Milwaukee</city>
                <stateOrCountry>WI</stateOrCountry>
                <zipCode>53202</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity 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>true</isAmendment>
                <previousAccessionNumber>0001448148-09-000003</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-06-11</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>10000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Thomas Capital Group, Inc.</recipientName>
                <recipientCRDNumber>45180</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>4221 Harborview Drive, Suite 200</street1>
                    <city>Gig Harbor</city>
                    <stateOrCountry>WA</stateOrCountry>
                    <zipCode>98332</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Robert W. Baird &amp; Co. Incorporated</recipientName>
                <recipientCRDNumber>8158</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>777 East Wisconsin Avenue</street1>
                    <city>Milwaukee</city>
                    <stateOrCountry>WI</stateOrCountry>
                    <zipCode>53202</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>376242000</totalOfferingAmount>
            <totalAmountSold>130080000</totalAmountSold>
            <totalRemaining>246162000</totalRemaining>
            <clarificationOfResponse>The General Partner reserves the right to offer a greater amount of limited partner interests.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>41</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse>Placement Agent fees to be paid upon a fee schedule.  Such fees are offset dollar-for-dollar against the management fees payable by the Issuer.  The payment of such fees by the Issuer will not involve any additional expenditure of funds by the Issuer.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>45149040</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>Estimated amount for the first six years, and the Issuer will continue to pay management fees thereafter.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>BAIRD CAPITAL PARTNERS V LP</issuerName>
                <signatureName>/s/ Paul L. Schultz</signatureName>
                <nameOfSigner>Paul L. Schultz</nameOfSigner>
                <signatureTitle>Authorized Person of the General Partner of the Issuer</signatureTitle>
                <signatureDate>2010-02-08</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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