The firm's Chief Business Officer Michael Romano said, "We think VCs can't just use the excuse that the IPO window is closed, they need to take a page out of the private equity playbook and build more consistent liquidity that LPs can count on."
The continuation fund will reportedly have its largest exposure to TikTok's parent, ByteDance, alongside Ant Group.
Principal Mineral is the latest Ensemble portfolio company to be involved in a single-asset CV, following similar transactions for CHAOS and Saronic earlier this year.
The growth-oriented investor reportedly offered stakes in companies including OpenAI and SpaceX to attract interest in the CV.
The multi-strategy investment firm is reportedly considering a $350-400 million CV for four portfolio companies.
The single-asset vehicle extends B2B software investor Viking Growth's hold on a recruitment and HR software platform.
The $600 million secondary deal will reportedly comprise stakes in five technology companies, including OpenAI, while providing a new commitment to Anthropic.
Goldman Sachs Alternatives co-led the continuation fund for North American digital infrastructure provider TerraPact Holdings.
The venture capital firm reportedly sought to raise more than $200 million to extend its hold on digital advertising company StackAdapt.
The communications and technology-focused investment firm is set to be acquired by Digital Realty, a NYSE-listed data center REIT, for $485 million.
