OWINGS MILLS, Md., Jan. 08, 2019 (GLOBE NEWSWIRE) -- Greenspring Associates, an $8.7 billion venture capital investment platform, today announced that it has raised $999 million for Greenspring Global Partners IX, L.P. ("GGP IX" or the “Fund”), the Firm’s ninth global diversified venture capital fund. The oversubscribed fund had strong participation from existing investors, as well as select new limited partners.

Building on its eight predecessor funds, GGP IX is expected to deploy the majority of its committed capital to established and emerging global venture capital funds while reserving a meaningful percentage for direct investments in information technology, communications and healthcare companies. Additionally, the Fund will opportunistically target secondary interests in funds and companies.

Founded in 2000, Greenspring Associates has exclusively specialized in venture capital since its inception and offers a full range of solutions across a variety of strategies.

"We are deeply humbled by the support of our new and existing investors and are excited to continue to serve as an enduring, reliable partner to our trusted fund managers and portfolio companies during this time of opportunity in the innovation economy," said John Avirett, General Partner at Greenspring Associates.

With a platform that spans fund, direct and secondary investments and an investment team that navigates across all three verticals, the firm seeks to capitalize on the flywheel effects of an integrated strategy.

"Our trusted relationships, informational advantage and the synergies of our platform will allow us to effectively serve as a value-added, lifecycle partner to fund managers and entrepreneurs across multiple stages, sectors and geographies," said Hunter Somerville, Partner at Greenspring Associates.

About Greenspring Associates
Greenspring Associates was founded in 2000 to focus solely on venture capital investments. Through a comprehensive platform, the Firm serves as a lifecycle partner for fund managers and entrepreneurs, investing across multiple stages, sectors and geographies. Greenspring Associates currently manages over $8.7 billion in committed capital across a variety of specialized venture strategies on behalf of a diverse group of global investors. For more information on Greenspring Associates, please visit its website at www.greenspringassociates.com.

Contact:
Eric Thompson
Chief Operating Officer
410-363-2725
ethompson@gspring.com