SOURCE: Greenspring Associates

November 05, 2015 07:00 ET

Greenspring Associates Raises $430 Million for Seventh Venture Fund-of-Funds

OWINGS MILLS, MD--(Marketwired - Nov 5, 2015) - Greenspring Associates today announced that it has raised $430 million for Greenspring Global Partners VII, L.P., its seventh venture capital fund-of-funds. The Fund will invest in established and emerging venture capital managers, expansion stage companies and secondary interests of funds and companies. Greenspring Associates received strong support from its existing investors and also added several leading institutions as limited partners.

"We are deeply grateful for the support from our new and existing investors," said Ashton Newhall, Managing General Partner at Greenspring Associates. "We look forward to continuing to work closely with our limited partners, venture fund managers and entrepreneurs who are furthering the growth of the innovation economy."

Predicated upon 15 years of venture-only investing, Greenspring Associates leverages a synergistic model to provide a diverse group of institutions and individuals with access to the venture capital asset class. Greenspring Global Partners VII will primarily target early stage technology-focused funds and will also invest alongside those fund managers in expansion stage portfolio companies. Additionally, the Fund will opportunistically invest in secondary interests of venture capital funds and companies.

"We acknowledge that today managers and companies are looking for partners that bring more than just capital to bear," said John Avirett, Partner at Greenspring Associates. "We are proud of the value-add initiatives that we have developed and implemented, which include strategic partnership events, university innovation summits and tailored customer introductions. It is our hope that these endeavors will allow us to continue to forge trusted relationships within the venture capital community."

According to the MoneyTree Report from PricewaterhouseCoopers (PWC) and the National Venture Capital Association (NVCA), venture capitalists invested $16.3 billion in 1,070 deals in the third quarter of 2015, marking the seventh consecutive quarter of more than $10 billion of venture capital invested in a single quarter. In a venture capital environment flush with new investment opportunities, only a small subset of venture managers are able to successfully identify breakout companies at an early stage. Greenspring Associates seeks to back those venture managers who have demonstrated a track record of uncovering and identifying the most promising startups poised to create new industries or disrupt incumbents in larger existing markets.

"It's an interesting time to be investing in venture. We believe the size of today's market opportunities is much greater than it has ever been before," said Jim Lim, Managing General Partner at Greenspring Associates. "While technology has advanced rapidly over the past decade, we believe that we're still in the early stages of the technology innovation cycle, and that there are a substantial number of disruptive startups out there competing to be leaders in large expanding industries such as cloud and mobile."

About Greenspring Associates

Established in 2000, Greenspring Associates provides venture capital solutions to a diverse group of institutions and individuals worldwide. Through a synergistic platform, Greenspring Associates invests in established and emerging venture capital fund managers, in expansion stage venture-backed companies and in secondary investments in venture capital funds and companies. Greenspring Associates currently manages over $3.6 billion in assets across multiple venture capital investment strategies. For more information on Greenspring Associates, please visit www.greenspringassociates.com.

Contact Information

  • Media contact:
    Laura Cruz
    Tenor Partners for Greenspring Associates
    (917) 406-7517
    laura@tenorcom.com