StepStone Group VC

Overview

Venture capital and growth equity platform of StepStone Group, built on Greenspring Associates, a Baltimore-based venture specialist founded in 2000 that StepStone acquired in September 2021. It invests in venture funds (primaries), buys fund and company stakes on the secondary market, and co-invests directly, through commingled vehicles such as the StepStone VC Global Partners and VC Secondaries fund series as well as separate accounts. At the 2021 close the combined platform managed about $24B of venture and growth assets.

Funds

No fund size has been publicly disclosed for this firm in the sources we track.

LPs on the record

39 private foundations list on their latest IRS Form 990-PF, and 7 other LPs report holding StepStone Group VC’s funds.

• Great American Insurance Company Insurer · 9 funds
• Richard King Mellon Foundation Private foundation · 8 funds
• Cascade Private Capital Fund Registered fund · 5 funds

43 more LPs are in the app. Find LPs that back firms like this one in Hottub’s LP Intelligence: ranked by overlap, with what each holds and how to reach it.

Firms whose LPs overlap

The firms sharing the most LPs on record with StepStone Group VC, relative to how many LPs each has. A peer set like this is what Find LPs ranks LPs from.

• Cross Creek Advisors, LLC 4 LPs in common
• Fintech Collective Management LLC 2 LPs in common
• Manchesterstory Fund Management, LP 2 LPs in common
• Channel Equity Partners Management, LP 2 LPs in common
• Carrick Capital Partners 3 LPs in common
• Georgian 3 LPs in common

Find LPs for StepStone Group VC and these firms: Hottub ranks the LPs that hold their funds, the ones still adding funds first.

Reported fund performance

As reported by public LPs that invested in these funds, net of fees. “Versus vintage” ranks each fund against every other fund of the same vintage in that LP’s report, mostly private equity and venture funds. Open a fund for its cash flows and full peer ranking.

Fire and Police Pension Association of Colorado (FPPA): FPPA Annual Report: Asset Allocation by Category and Investment Manager, Private Capital, as of December 31, 2025. Holdings only: the annual report's "Asset Allocation by Category and Investment Manager" schedule lists each Private Capital fund of the Fire & Police Members' Benefit Investment Fund with its management fees for the year, a "1 Year Net Return %" and "Total Assets" at year-end. Total Assets is shown here as the market value, in whole dollars as printed. The report gives no commitment, contributions, distributions, vintage year, multiple or IRR per fund, so those are blank; nothing is derived or estimated. The one-year return is not an IRR (the report says its performance calculations use time-weighted rates of return, net of fees unless otherwise indicated) and is not imported; FPPA prints none for 47 funds (hired during the year, or "Not Meaningful": it does not report returns for illiquid partnership investments with less than 36 months of history). Fund names are printed in a shortened form and are shown as printed, without the report's footnote marks. All 168 funds of the Private Capital class are included as FPPA classifies them (the notes to the financial statements also count 168 Private Capital funds, "with exposure to buyout funds, venture capital and special situations"); it does not separate buyout, venture, secondaries, special situations and private credit funds. They add up to the report's Total Private Capital of $1,951,118,339 (and $22,648,007 of management fees). The schedule's Real Assets and Real Estate classes and its public-market managers are not imported. View source

Teachers' Retirement System of the State of Illinois (TRS): TRS Annual Comprehensive Financial Report, fiscal year 2025: Investment Assets Under Management, Private Equity, as of June 30, 2025. TRS lists each private equity partnership with one amount, its "Assets" at the fiscal year end, in the schedule "Investment Assets Under Management" of its Annual Comprehensive Financial Report (shown here as the market value, in whole dollars as printed). It reports no commitment amount, contributions, distributions, vintage year, multiple or IRR per fund, so committed, paid-in, distributed, total value, IRR, TVPI and DPI are blank; nothing is derived or estimated. All 263 entries under the schedule's "Private Equity" heading are included as TRS classifies them (buyout, growth, venture, co-investment and separately managed vehicles; 53 are "Annex" entries that TRS lists separately beside a fund of the same manager); the Public Equity, Real Assets, Income and Diversifying Strategies groups are not imported. The entries add up to $12,776,014,572, which equals the fair value of private equity partnerships in the notes to the report's financial statements ($12,776,014,570). The schedule's own note says it does not include managers terminated before June 30, 2025 with residual assets in the account. View source

New Zealand Superannuation Fund: NZ Super Fund Portfolio Disclosures: External Investment Managers, as of December 31, 2025. The Guardians of New Zealand Superannuation publish every external investment mandate of the NZ Super Fund every six months, each with a fund name, a focus area and a value in millions of New Zealand dollars; they report no vintage year, contributions, distributions, multiple or IRR per fund, so those are blank. Dollar amounts are converted: the workbook is in New Zealand dollars, and every amount here is multiplied by 0.5755 US dollars per New Zealand dollar, the Federal Reserve's H.10 foreign exchange rate for 2025-12-31 (federalreserve.gov/releases/h10/hist/dat00_nz.htm), and rounded to the dollar. The list mixes all asset classes, so only the 27 lines whose focus area is Buyout, Growth Capital, Growth Equity, Venture Capital or Sustainable Transition are included; 4 of them are Sustainable Transition, which the Guardians do not call private equity but whose lines name private funds. 46 lines with another focus area (listed equities, hedge funds, real estate, infrastructure, timber, credit, reinsurance, spectrum and the like) and 7 lines with no focus area are left out, as are the Fund's direct investments and the separate Elevate NZ Venture Fund mandate. Some lines include co-investments made alongside the fund, as their names say. Market value: for 9 New Zealand funds the workbook's separate mandate sheet gives the net asset value in whole New Zealand dollars and the commitment, which are used; for the others the value is the published figure in whole millions of New Zealand dollars, so it is only accurate to the nearest million before conversion. 5 of the commitments are printed as "Formerly" that amount, the fund being out of its investment period. 6 funds are shown by the Guardians as zero with a footnote (awaiting funding, or a residual balance under NZD 1 million) and have no value here. The year a manager was appointed is not a vintage year and is not used. View source