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Venture Investment Associates raises nearly $148.1m across three funds

31 May 2013

dollar large_sqPrivate equity firm Venture Investment Associates (VIA) has raised nearly $150m for its seventh fund of funds and associated vehicles.

Venture Investment Associates VII will invest in 18 to 20 venture capital, growth equity, and buyout limited partnerships.

The firm has also closed its VIA VII-VC fund, which will invest only in venture capital vehicles. The firm has gathered a total $148.1m for the two vehicles and the VIA Seed Technology Partners I.

It did not say how much it raised for VIA VII, but the most recent filing for the fund showed that it had a $225m target and had raised nearly $118m as at mid-April.

The funds were backed by corporate investors, endowments, foundations and family offices.

VIA managing director Jason Andris said, “In this very challenging fundraising environment, we are extremely gratified by the strong support we received from a significant group of high-quality investors and we look forward to rewarding their confidence in VIA’s strategy and team.

“We believe that these vehicles allow us to pursue the abundant opportunities in the private equity markets as the number of participants and capital available in the market is declining.

“This positions VIA to increase our market share and investor influence, in an incredibly favourable environment, while being right-sized to increase our chances of generating superior returns.”

New Jersey-based VIA has $1.25bn under management across seven diversified private equity, two energy-related, and a micro-cap venture funds of funds.

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