The vehicle, which completed its second close, is already 35% invested across 6 transactions.
The firm held the final close of its debut infrastructure secondaries fund during the quarter, reaching its $1.5 billion hard cap and marking StepStone's largest inaugural fundraise to date.
The Texas-based alternative investment manager specializes in private credit, with strategies spanning direct lending, portfolio finance, and capital solutions.
The African payments infrastructure provider will enable staff to borrow against their private shares without having to sell them or relinquish potential future upside.
The reported capital pool forms part of the firm's broader $920 million fundraise across its venture investment strategies.
Industry Ventures Secondary XI, which remains in the market, received a $150 million commitment from the South Carolina Retirement System in July.
The fund's 2023-vintage predecessor closed with $212 million in capital commitments, according to SecondaryLink Data.
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.
Nimble Partners Opportunities Fund III is targeting $200 million in capital commitments, SecondaryLink has learned.
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.
