StepStone VC Secondaries Fund VII has already held its first close at $1 billion, with total capital commitments having exceeded $1.3 billion in August, according to SecondaryLink Data.
The sequel fund has secured $150 million from a California pension and will back venture and growth managers through GP stakes, fund commitments, and co-investments.
The Denver-headquartered firm recently appointed Osnat Velingard in Tel Aviv to lead the firm's secondary strategy, which targets growth-stage tech companies.