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Schroders gears up for new VC fund-of-funds

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Private asset management firm Schroders Capital has made a regulatory filing for Schroders Capital Private Equity Global Innovation Management XI (PEGIM XI).

The Luxembourg-domiciled fund is the 11th vehicle in the GP’s venture capital fund-of-funds series.

The strategy was originally launched by Schroder Adveq and was previously known as Schroder Adveq Technology. Schroders acquired Swiss asset manager Adveq in 2017; Adveq was renamed Schroder Adveq and the strategy was subsequently renamed.

The predecessor venture fund-of-funds vehicle held a final close in December 2020 on USD 152.63m, according to Unquote Data. The fund had a 1% management fee and an 8% hurdle, according to Unquote Data, and made commitments to funds including Index Ventures X and Index Ventures Growth V, as well as vehicles managed by Andreessen Horowitz and Lightspeed Venture Partners.

According to a separate regulatory filing, the strategy invests in venture capital funds with a focus on technology and healthcare. The fund has a bridge facility provided by Silicon Valley Bank, according to the same filing.

PEGIM XI is expected to follow the strategy of its predecessor, backing funds in the US, Europe and Canada.

Schroders Capital manages a series of private markets strategies, covering buyouts, growth and secondaries.

Schroders Capital declined to comment.

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