Greenspring Associates said it closed Greenspring Global Partners V, L.P., a $356 million global venture capital fund-of-funds. The fund found strong participation from existing investors and added a select number of new institutional investors.
Greenspring Associates Closes $356 Million Fund Greenspring Global Partners V, L.P.
Owings Mills, Maryland, October 19, 2012 – Greenspring Associates, a global venture capital investment firm, announced today the closing of Greenspring Global Partners V, L.P. (“GGP V”), a $356 million global venture capital fund-of-funds. The new fund had strong participation from existing investors as well as select new institutional investors.
“Despite the challenging fundraising environment, we are very pleased to have significant commitments from our trusted limited partners for our newest fund,” said Ashton Newhall, Managing General Partner and Co-Founder of Greenspring Associates. “Our value-added investment strategy and the current market environments have allowed us to continue to gain access to a number of global venture capital managers and their later stage direct investment opportunities. We find ourselves in a very favorable position to continue to capitalize on our relationships and global investment strategy.”
Up to 25% of the Fund’s capital is reserved for direct investment opportunities alongside of the Firm’s global venture capital and growth equity managers. The Firm strongly believes that an effective later stage direct investment strategy can mitigate the negative effects of the “J‑curve” and deliver significant early liquidity to investors.
The Fund has made select fund commitments and direct investments to date and expects to continue to selectively add established as well as up‑and‑coming emerging manager fund commitments, secondary investments and direct investments over the balance of the Fund’s investment period.
Greenspring Associates has seen significant growth in limited partner participation worldwide, with representation from the United States, Europe, Australia, Asia and Middle East. “Our limited partners, like our investments, are global”, said Managing General Partner James Lim. “We look forward to building on the momentum we have generated as a function of closing this new fund”.
About Greenspring Associates
Established in 2000 as a global venture capital investment firm, Greenspring Associates provides institutional and individual investors with access to and identification of the world’s top‑performing venture capital and growth equity managers. Since inception, the Firm has taken a global view to identifying and investing in a concentrated portfolio of the top-performing venture capital and growth equity managers in the United States, as well as developed and emerging international markets. Greenspring Associates primarily invests in venture capital and growth equity managers pursuing information technology, healthcare and energy investment opportunities. Greenspring Associates manages over $2.2 billion in committed capital for a diverse group of pension plans, insurance companies, foundations, endowments and family offices in North America, Europe, Middle East, Australia and Asia. For further information, visit the Greenspring Associates website at www.greenspringassociates.com.