Fund-of-funds manager Adams Street Partners has held a $426m final close for Adams Street Venture Innovation Fund II, a vehicle targeting early-stage VC funds.
The fund will be managed by Adams Street's offices in Chicago, Beijing, Boston, London, Menlo Park and Singapore.
Since opening its first European office in London in 1996, Adams Street has committed to more than 200 European primary funds and has advisory board seats on 130 funds.
Recent funds to have received commitments from the firm include G Square Capital III, Investindustrial Growth Fund, Waterland Private Equity Fund VII and Investindustrial IV Build-Up Fund, according to Unquote Data.
Unquote recently spoke to Ross Morrison, a partner at the firm, for its LP Profile series.
Adams Street Venture Innovation Fund II received commitments from new and existing LPs from the US, Canada, Germany, the UK, Japan, South Korea and Thailand. Investors in the vehicle include public and corporate pension plans, high-net-worth individuals, family offices and endowments.
The fund has a global remit and will focus on early-stage venture fund managers.
Adams Street Partners – Brijesh Jeevarathnam (primary team partner); Kelly Meldrum (head of primary investments).
VCs Serena and Isai re-up, having previously backed the €5m series-A in 2016
Third investment made by Alto Capital IV, which held a €210m final close in 2018
Based in London and Frankfurt, Wunderlin will report to group chief executive Peter Harrison
Ardian bought a majority stake in France-based Revima from Argos Wityu last month