Adams Street Partners, a private markets investment manager with $76 billion in assets, has announced the launch of Adams Street Venture & Growth Fund (AVNGR), a new closed-end, perpetual-term tender offer fund providing convenient, truly evergreen exposure to venture and growth opportunities for qualified wealth management clients. The $363.5 million net assets AVNGR fund is expected to go active at broad-based providers across leading custodian platforms on December 1, 2026 and is registered under the Investment Company Act of 1940. AVNGR removes capital call friction through fully up-front funding and offers liquidity on a quarterly basis through periodic tender offers. Drawing on Adams Street’s five decades of venture investing, AVNGR constructs multi-strategy, multi-stage portfolios focused primarily on global secondaries and venture growth co-investments in high-growth private enterprises.
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Highlighting the market rationale behind the vehicle’s design and the structural expansion into wealth management, Mike Lucarelli, Partner, Wealth Management at Adams Street, stated: “Venture investing has been core to Adams Street’s platform for decades. AVNGR brings that experience to qualified clients through an evergreen structure that streamlines access to venture and growth opportunities. We see a backdrop for investing in innovative companies as more of their growth and value creation occurs in private markets.” By bridging institutional-grade venture access with flexible private wealth structures, Adams Street equips financial advisors and qualified individual investors with a perpetual platform to participate in private tech value creation.
