Hamilton Lane Closes Inaugural Venture Access Fund with Over $615 Million in Commitments, Exceeding Target Fund Size

Rhea-AI Summary

Hamilton Lane (Nasdaq: HLNE) announced the final close of its inaugural Venture Access Fund (VAF), raising $615.3 million in commitments, exceeding its $500 million target by 23%. The Fund targets top-performing, oversubscribed venture funds and companies, combining primary and secondary transactions to accelerate capital returns and mitigate the J-curve.

The fundraise attracted diverse global investors, including public and corporate pension funds, financial institutions, Taft-Hartley plans, family offices, and foundations. The Fund leverages Hamilton Lane's nearly 30-year venture investing experience and $117 billion in AUM and AUA across venture and growth equity.

The firm sees compelling opportunities in the current VC market, driven by AI and disruptive technologies, along with robust secondary market opportunities as companies stay private longer.

Positive

• Exceeded fundraising target by 23%, raising $615.3 million vs $500 million target
• Significant AUM/AUA of $117 billion in venture and growth equity
• Diverse investor base including institutional investors and pension funds
• Portfolio structure designed to accelerate capital returns and reduce J-curve impact

Negative

• None.

News Market Reaction

-1.97%

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-1.97% News Effect

On the day this news was published, HLNE declined 1.97%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

The Fund features a high-quality venture portfolio targeting top-performing, oversubscribed funds and companies

CONSHOHOCKEN, Pa., Feb. 6, 2025 /PRNewswire/ -- Leading global private markets investment management firm Hamilton Lane (Nasdaq: HLNE) today announced the final close of its Venture Access Fund ("VAF" or "the Fund"), which successfully exceeded its target fund size, raising $615.3 million in commitments. 

VAF, which closed 23% over its $500 million target, features a venture portfolio that targets top-performing, oversubscribed funds and companies, while leveraging the extensive platform, access and relationships Hamilton Lane has built over its nearly 30 years of investing in the space. The Fund's unique composition of primary and secondary transactions is designed to accelerate capital back to investors and mitigate the J-curve, providing Limited Partners with a fee-efficient, best-in-class VC solution.

Building on Hamilton Lane's extensive track record and nearly $117 billion in AUM and AUA* across venture and growth equity, VAF is the firm's first globally distributed venture vehicle and represents an evolution of its Venture and Growth Equity Platform. The fundraise centered on attractive venture capital market dynamics and LP demand, with participation from a group of global and diversified investors, spanning public and corporate pension funds, financial institutions, Taft-Hartley plans, family offices and foundations and endowments.

Miguel Luina, Co-Head of Venture and Growth Equity at Hamilton Lane, commented: "We are thrilled to announce the final close of the inaugural Venture Access Fund, which surpassed our target fund size despite the difficult fundraising environment. This achievement is a testament to the confidence our clients and investors have in our ability to access premier venture opportunities and navigate a dynamic market. 

VAF represents a unique opportunity for investors to gain exposure to what we believe to be best-in-class venture capital managers, breakout companies, well-priced secondaries and high-potential co-investments. Our institutional approach to portfolio construction and strong relationships aimed to deliver a high-quality experience to investors of all types."

"For those with scale, expertise and strong relationships, the current VC market presents compelling opportunities, driven by active company formation and rapid value creation from AI and other disruptive technologies, and lower overall capital availability. Specifically, the opportunity set within the secondary market is robust, as the trend of companies staying private longer persists, causing existing shareholders to seek alternative methods of liquidity," said Matt Pellini, Co-Head of Venture and Growth Equity at Hamilton Lane.

The firm has been active in the venture and growth equity space for nearly three decades, with deep experience investing across separately managed accounts, including its annual commingled Hamilton Lane Venture Capital Fund series, which was first established in 2009. Hamilton Lane is focused on concentrating capital into what it believes to be best-in-class, high-growth companies through fund investments with venture and growth managers, direct investments and solution-oriented secondaries. The strategy is designed to produce an asymmetric return profile that limits losses, while capturing the attractive upside that venture and growth equity investments can provide. For more on the firm's Venture and Growth Equity Platform, click here.

*As of 9/30/24

About Hamilton Lane

Hamilton Lane (Nasdaq: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs approximately 740 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has $956 billion in assets under management and supervision, composed of nearly $135 billion in discretionary assets and more than $821 billion in non-discretionary assets, as of December 31, 2024. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies. For more information, please visit our website or follow Hamilton Lane on LinkedIn.

 

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SOURCE Hamilton Lane

FAQ

How much did Hamilton Lane's Venture Access Fund (HLNE) raise in its final close?

Hamilton Lane's Venture Access Fund raised $615.3 million in commitments, exceeding its $500 million target by 23%.

What is the investment strategy of Hamilton Lane's VAF (HLNE)?

The Fund targets top-performing, oversubscribed venture funds and companies, combining primary and secondary transactions to accelerate capital returns and mitigate the J-curve.

What is Hamilton Lane's (HLNE) total AUM and AUA in venture and growth equity?

As of September 30, 2024, Hamilton Lane has nearly $117 billion in AUM and AUA across venture and growth equity investments.

Who are the primary investors in Hamilton Lane's Venture Access Fund (HLNE)?

The Fund attracted diverse global investors, including public and corporate pension funds, financial institutions, Taft-Hartley plans, family offices, and foundations and endowments.

What market opportunities is Hamilton Lane (HLNE) targeting with VAF?

The firm is targeting opportunities driven by AI and disruptive technologies, along with secondary market opportunities arising from companies staying private longer.