- Adams Street launched its Venture Innovation Fund strategy nearly a decade ago
- VIF IV exceeded its target and is 40% larger than the previous venture innovation program
- Adams Street Partners manages $60bn in assets
Adams Street Partners has raised more than $1.2 billion for its fourth venture capital fund-of-funds and other investment vehicles.
The funds, collectively known as the Venture Innovation Fund IV Program, include Venture Innovation Fund IV, Leaders Fund II and Adams Street Venture Select Fund 2023. VIF IV was oversubscribed and is 40 percent larger than its previous effort, the firm said in a statement.
“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,” Adams Street said.
The Chicago-based firm began fundraising for VIF IV in July 2022. It held a first close on about $350 million in July 2023, a second close on nearly $480 million in January and a final close in October, according to fundraising data from affiliate title Buyouts.
Adams Street did not disclose the names of LPs, but investors include the Firefighters’ Pension Investment Fund, which committed $60 million, and the Development Bank of Japan, which committed an undisclosed amount, Buyouts reported. Other LPs include foundations, family offices and wealth platforms from three continents, Adam Street said.
Its previous effort, Adams Street Venture Innovation Fund III, closed on $800 million in December 2021, according to Buyouts. LPs in VIF III included the Virginia College Savings Plan, Buyouts reported.
Adams Street Partners manages $60 billion in assets. The firm’s offices include locations in Austin, Beijing, London, Menlo Park, New York, Seoul, Singapore, Sydney and Tokyo.
- Adams Street launched its Venture Innovation Fund strategy nearly a decade ago
- VIF IV exceeded its target and is 40% larger than the previous venture innovation program
- Adams Street Partners manages $60bn in assets
Adams Street Partners has raised more than $1.2 billion for its fourth venture capital fund-of-funds and other investment vehicles.
The funds, collectively known as the Venture Innovation Fund IV Program, include Venture Innovation Fund IV, Leaders Fund II and Adams Street Venture Select Fund 2023. VIF IV was oversubscribed and is 40 percent larger than its previous effort, the firm said in a statement.
“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,” Adams Street said.
The Chicago-based firm began fundraising for VIF IV in July 2022. It held a first close on about $350 million in July 2023, a second close on nearly $480 million in January and a final close in October, according to fundraising data from affiliate title Buyouts.
Adams Street did not disclose the names of LPs, but investors include the Firefighters’ Pension Investment Fund, which committed $60 million, and the Development Bank of Japan, which committed an undisclosed amount, Buyouts reported. Other LPs include foundations, family offices and wealth platforms from three continents, Adam Street said.
Its previous effort, Adams Street Venture Innovation Fund III, closed on $800 million in December 2021, according to Buyouts. LPs in VIF III included the Virginia College Savings Plan, Buyouts reported.
Adams Street Partners manages $60 billion in assets. The firm’s offices include locations in Austin, Beijing, London, Menlo Park, New York, Seoul, Singapore, Sydney and Tokyo.
