Hamilton Lane secured $615.3M in capital commitments at the final close of its first globally distributed venture fund, marking an oversubscription against the $500M target for the investment vehicle.
Hamilton Lane Venture Access Fund I generated support from a diverse group of global investors, including public and corporate pension funds, financial institutions, Taft-Hartley plans, family offices and foundations and endowments. According to Dakota data, the Santa Barbara County Employees' Retirement System pledged $10M to the fund.
The Conshohocken, PA-based private markets investment manager opened Venture Access Fund I for sale in May 2023. As of November 8, 2024, the fund had raised $185M from 24 investors, according to a filing with the SEC. Across the US, the fund was marketed with the assistance of Hamilton Lane Securities.
Through various funds, Hamilton Lane offers investors exposure to what it deems to be best-in-class venture capital managers, breakout companies, well-priced secondaries and high-potential co-investments. As at the end of 2024, the firm managed $956B of assets, of which $117B are held under venture and growth equity. The firm's first venture access fund targets primary and secondary transactions that could accelerate capital back to investors and mitigate the J-curve. It said the strategy marks the evolution of its venture and growth equity platform.
