Venture Investment Associates, a private equity fund-of-fund managers, has raised $30 million for its latest fund. VIA Energy Opportunity III-A will focus on the oil and gas sector. The fund’s limited partners include endowments, foundations, and family offices, health care institutions and pension funds. Its previous energy fund VIA Energy III raised $130 million.
Peapack, NJ and Houston, TX – December 20, 2017 – Venture Investment Associates (VIA), a private equity fund-of-funds manager, has closed VIA Energy Opportunity III-A with $30MM in commitments. Together with VIA Energy III, a predecessor energy fund, VIA’s energy program is actively making investments out of vehicles with over $160 million in commitments.
VIA Energy Opportunity III-A was formed to take advantage of the broad-based downturn in the energy sector, and to-date more than 75% of the Fund has been invested or committed to underlying managers and co-investments.
“During this market decline, the challenges faced by the oil and gas industry have stranded many high-quality assets with companies that have weak balance sheets and marginal cash flow. This dynamic has significantly increased deal flow resulting in compelling investment opportunities across our private energy portfolios,” said Adrian Garcia, a managing director at VIA. “In the lower-middle market, where we focus our investment program, we have found numerous opportunities to unlock value during the past two years, and expect the opportunity set to remain robust.”
VIA’s energy funds target lower-middle market investments in energy private equity managers focused on oil and gas exploration and production, midstream, services, and energy technology companies and assets located in North America and Europe. Additionally, the funds selectively co-invest alongside their managers.
“The support of our limited partners enables us to be opportunistic when market dynamics shift allowing us to develop a strong investment strategies to exploit inefficiencies,” said Jason Andris, managing director at VIA. “We are gratified by the confidence they have placed in us to execute on strategies such as this.”
VIA Energy Opportunity III-A’s investors are endowments, foundations, and family offices, as well as health care institutions and pension funds. The Fund includes a 1.5% commitment from its General Partner and additional commitments from employees of the firm and their families as limited partners.
About Venture Investment Associates
Venture Investment Associates (VIA) is an employee-owned manager of private equity funds of funds in venture capital, growth equity, buyouts, and energy, with more than $1.6B in total capital commitments. Since 1993, VIA has been managing diversified, purposefully smaller and selective, portfolios of investments that have realized significant long-term capital appreciation for its limited partners. For more information, visit www.viafunds.com.