Adams Street Raises $1.2B for VC Fund
Adams Street Partners, a growth and private equity buyout firm, closed its oversubscribed Venture Innovation Fund IV Program, securing more than $1.2 billion in capital commitments – a more than 40% increase from its previous venture fund group.
The program, which comprises Venture Innovation Fund IV, Leaders Fund II and Adams Street Venture Select Fund 2023, will focus on venture fund investments, secondaries and direct investments in “innovative and disruptive” global companies.
“Venture investing has been a core part of Adams Street’s DNA since our first commitment over four decades ago,” said Brijesh Jeevarathnam, partner & global head of fund investments at Adams Street. “We believe venture capital will continue to drive the digital transformation of the global economy, with technologies like artificial intelligence poised to accelerate innovation across every industry, sector, and geography.”
Some of the firm’s recent investments in VC-backed companies include wealth management company Altruist, which announced in May that it raised $169 million in Series E funding.
Chicago-based Adams Street currently manages $60 billion in total assets across primary, secondary, growth equity, credit and co-investment strategies in more than 30 countries across five continents. In April, the firm announced the final close of a $1 billion middle market collateralized loan obligation (CLO), the first CLO for the asset manager.
