Stepstone VC Secondaries Fund VI is a limited partnership established by StepStone Group Inc, registered in the state of Delaware-US, and is expected to start operating during the year 2024. The StepStone Group was founded in 2003, it manages about 111 billion dollars and has over 900 employees worldwide. The group engages in various avenues of investment in private markets (private equity, private debt, real estate and infrastructure and real assets). In 2021, the StepStone Group completed the acquisition of Greenspring Associates and created the VC platform called StepStone VC, which manages $28 billion, has 150 staff members (of which 70 are investment managers). StepStone VC has made over 1,300 VC secondaries transactions in funds and direct transactions. The fundraising target of the current fund is 2.75 billion dollars with a hard cap of 3.4 billion dollars.
The fund will invest in the rights of VC funds around the world through purchases in the secondary market either at the initiative of the fund manager (GP-Led Transactions), an investor (LP-Led Transactions) or in Direct Secondary transactions. The fund operates as part of the StepStone Group and leverages the group’s resources and advantages to locate, initiate, execute and monitor investments.
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