CHICAGO--(BUSINESS WIRE)--Adams Street Partners, LLC, a leading private markets investment firm with over $60 billion in assets under management, today announced the successful close of its oversubscribed Venture Innovation Fund IV Program (which is comprised of Venture Innovation Fund IV, Leaders Fund II and Adams Street Venture Select Fund 2023, collectively, "VIF IV" or the “Fund”), securing more than $1.2 billion in capital commitments. VIF IV encompasses a diverse portfolio of venture fund investments, secondaries, and direct investments, which will seek to strategically target exposure to some of the world’s most innovative and disruptive companies.
Investor demand was diverse and worldwide, representing many leading institutional investors, foundations, family offices, and wealth platforms from three continents. VIF IV exceeded its target and grew over 40% from the previous venture innovation program, highlighting confidence in Adams Street based on its historical performance, team strength, and expertise in venture capital. Despite continued investor demand, Adams Street closed the Fund to maintain discipline around its stated strategy and portfolio construction while optimizing for what is expected to be an attractive opportunity set across the innovation economy.
"Adams Street has been a trusted partner of Accel for decades. Their deep commitment to and understanding of global innovation is exemplified by their early support of Accel across our U.S., Europe, India, and Southeast Asia initiatives,” said Rich Wong, partner at Accel, a leading global venture capital firm. “We look forward to our continued partnership that leverages our shared global expertise."
Adams Street has been a pioneer in venture capital since the 1970s, with a formal launch of its Venture Innovation Strategy nearly a decade ago. The firm's long-standing presence in the venture ecosystem has fostered deep, multi-decade relationships with top venture managers worldwide, which has provided the firm with differentiated access to many opportunities within the next generation of high-growth companies.
“Venture investing has been a core part of Adams Street’s DNA since our first commitment over four decades ago. We believe our deep institutional knowledge, proprietary data, and the experience of our team in navigating market cycles give us a distinct advantage,” 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.”
“Adams Street’s highly selective venture strategy has enabled us to access exceptional opportunities, providing our LPs with exposure to some of the world’s most innovative and cutting-edge companies,” said Jeffrey Diehl, Managing Partner & Head of Investments at Adams Street.
About Adams Street Partners
Adams Street Partners is a global private markets investment manager with investments in more than 30 countries across five continents. The firm is 100% employee owned and manages $60 billion in assets. Adams Street strives to generate actionable investment insights across market cycles by drawing on over 50 years of private markets experience, proprietary intelligence, and trusted relationships. Adams Street has offices in Austin, Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, Sydney, and Tokyo. Visit www.adamsstreetpartners.com.
This information is not investment advice or an offer or sale of any security or investment product or investment advice. Offerings are made only pursuant to a private offering memorandum containing important information. Statements are made as of the date of this release, and there is no implication that the information contained herein is correct as of any time subsequent to such date. References herein to specific sectors, strategies, or investments are not to be considered a recommendation or solicitation for any such sector, strategy, or investment. Past performance is not a guarantee of future results. Projections or forward-looking statements contained in the Paper are only estimates and there can be no assurance that the results set forth in the projections or the events predicted will be attained, and actual results may be significantly different from the projections. Also, general economic factors, which are not predictable, can have a material impact on the reliability of projections or forward-looking statements. Adams Street Partners, LLC is a US investment adviser governed by applicable US laws, which differ from laws in other jurisdictions.
