Albert III was a Duke of Saxony. He was nicknamed Albert the Bold or Albert the Courageous and founded the Albertine line of the House of Wettin.
Albert was born in Grimma as the third and youngest son of Frederick II the Gentle, Elector of Saxony, and Margarete of Austria, sister of Frederick III, Holy Roman Emperor. Later, he was a member of the Order of the Golden Fleece.
Source: Wikipedia