VIA Raises $225 Million

Venture Investment Associates has closed its sixth fund-of-funds with $225 million in capital commitments. The vehicle will be used to invest in between 20 and 25 venture capital, growth equity and buyout funds.

 

PRESS RELEASE

Venture Investment Management Co., the General Partner of the Venture Investment Associates (VIA) family of private equity funds of funds, announced today that it has completed fundraising for Venture Investment Associates VI, L.P. (VIA VI), a $225 million fund, that will invest in approximately 20 to 25 venture capital, growth equity and buyout limited partnerships.

 

Jason P. Andris, Managing Director, noted, “We are extremely pleased with the strong support received from a group of very high-quality investors.  We look forward to rewarding their confidence in VIA's strategy and management team.  It is unfortunate that we were not able to accommodate all of the interest, but raising too large a fund works against our goal of generating superior returns.”  VIA's investors are both non-profit institutions (including a significant amount of capital from institutions focused on education) and high net worth families, as well as a few corporate plans.  Further, as in the past, members of the Firm's General Partner made a significant capital commitment to the Fund.

Eliot Powell, Managing Director, added, “Like our predecessor funds, VIA VI offers investors the ability to diversify their holdings in private equity with one investment.  Our investment strategy provides concentrated exposure to core, top-tier venture capital, growth equity and buyout managers across 3 to 4 vintage years.  This strategy consistently delivers strong results across all investment cycles.”

“VIA VI will be invested primarily with managers with whom we have deep, longstanding relationships, many of which date back to my years managing the private equity investments for American Express.  These deep relationships and history afford the ability to obtain meaningful allocations in their funds, especially when you consider our size” said Stathis Andris, President.  “In addition, we will establish new relationships with a select few fund managers, who have exhibited past success founded upon their domain expertise, operating experience, and outstanding personal characteristics.  This part of our strategy is designed to augment our outstanding managers, who are responsible for our excellent record.”  Mr. Andris has nearly 35 years of experience investing in private equity.   VIA's previous funds have had superior returns measured against industry standards. 

Venture Investment Associates, which acquired the private equity portfolio of the American Express Company in 1993, manages nearly $1 billion across six funds.