Hamilton Lane Beats Target on Venture Access Fund

Hamilton Lane has successfully closed its inaugural Venture Access Fund (VAF) above target, securing $615 million in capital commitments. The fund initially targeted $500 million.

VAF is Hamilton Lane’s first globally distributed venture fund, attracting institutional limited partners such as public and corporate pension funds, financial institutions, Taft-Hartley plans, family offices, and foundations and endowments.

The fund will make primary and secondary investments in top-performing, oversubscribed venture funds and companies. According to Hamilton Lane, by combining primary and secondary transactions, VAF aims to accelerate returns to investors and mitigate the typical J-curve effect—initial negative returns followed by positive returns over time—commonly associated with venture capital investments.

“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,” said Miguel Luina, a co-head of venture and growth equity at Hamilton Lane. “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 venture capital market presents compelling opportunities, driven by active company formation, rapid value creation from AI and other disruptive technologies, and lower overall capital availability,” said Matt Pellini, a co-head of venture and growth equity at Hamilton Lane. “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.”

Hamilton Lane has been active in venture and growth equity investing for nearly three decades, participating in fund investments with venture and growth managers as well as direct and secondary investments. As of December 31, 2024, the firm manages approximately $956 billion in assets under management and supervision, with $135 billion in discretionary assets. Founded in 1991, Hamilton Lane is headquartered near Philadelphia in Conshohocken, Pennsylvania.