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LPs are piling into VC secondariesA new survey from Goldman Sachs Asset Management found that 48 percent of LPs plan to increase their allocations to secondaries.
Bank failures sped up and boosted demand for Industry's 10th secondaries fundIndustry Ventures' 10th venture capital secondaries fund closed on $1.45bn, making it 70% larger than the firm's previous effort.
In subdued fundraising market, Pennsylvania State pension plans to cull GP relationships'Over the years, we had a number of funds that drifted into the plan. It became insurmountable for us to deal with. We want to commit larger amounts to fewer funds while still being diversified,' PA State CIO James Nolan said.
Why VC secondaries are having a momentAt a recent event focused on 'the future of venture secondaries,' GPs and LPs shared the reasons they are so keen about the space.
StepStone's latest VC secondaries fund arrives as competition growsStepStone Group is in the fundraising market with its latest venture capital secondaries flagship, as competition grows from new entrants.
New York Teachers’ pension sets higher PE allocation plan“Everyone expected a recession that’s not here yet,” said a representative of StepStone, the system’s PE consultant.
CoinFund finds success in dark days for cryptoCoinFund, a crypto-focused venture capital firm, announced that it has closed on $158 million for CoinFund Seed IV Fund LP, beating its $125 million target.
Side Letter: Hard-cap hassle; GPIF's PE commitments; Astorg's continuation implicationsLPs are urging GPs to be more conservative with their fund targets. Plus: Japan's GPIF is making direct private equity commitments for the first time and Astorg gets in on secondaries. Here’s today's brief, for our valued subscribers only.
Rising royalty: Emerging managers deploy complex gambits to get aheadNewbies need all the help they can get to wrench capital from hesitant LPs. ‘Seeded portfolios’ and other strategies are in play.
Venture-backed Everstream Analytics acquires BlueNodeHalifax-based BlueNode is an AI-enabled cleansing and integration platform that helps streamline logistics and facilitates carbon emission measurement and reporting.