- StepStone Group (STEP, Financial) closes fourth Tactical Growth Fund with $705 million in capital commitments.
- The fund targets founder-led businesses in technology and healthcare outside traditional venture capital.
- Strong investor participation from sovereign wealth funds, public pensions, and family offices.
StepStone Group Inc. (Nasdaq: STEP), a leading global private markets investment firm, has successfully closed its fourth StepStone Tactical Growth Fund (STGF IV) with $705 million in capital commitments. This achievement highlights the firm's capability to attract significant investor interest, with participation from diverse institutional investors such as sovereign wealth funds, public pensions, superannuation funds, funds-of-funds, family offices, and private wealth platforms.
STGF IV is designed to capitalize on growth equity market opportunities by investing in founder-led businesses, particularly in the technology and healthcare sectors. The fund seeks companies demonstrating rapid topline growth, strong margins, capital efficiency, and minimal leverage, offering an alternative to traditional venture capital investments. This strategic focus aims to provide liquidity independent of public market and large-scale M&A scenarios.
StepStone’s Venture Capital and Growth Equity Team, which manages the fund, is one of the most active investors globally, allocating an average of $5.5 billion annually across direct investments, secondary transactions, and primary fund investments. With a robust team of over 80 dedicated investment professionals, StepStone employs flexible strategies, including direct co-investments and continuation vehicles, to efficiently deploy capital and create value.
Brian Borton, a Partner at StepStone, expressed gratitude to the investors and general partners for their ongoing trust in StepStone, reinforcing the firm's reputation as a reliable partner in the growth equity market.
