Greenspring Associates Explained

Greenspring Associates
Type:Private
Industry:Venture capital
Key People:C. Ashton Newhall,
James "Jim" Lim,
John Avirett,
Hunter Somerville,
Eric Thompson
Aum:$17B
Num Employees:150

Greenspring Associates was a venture capital firm that invested primarily in the information technology,[1] biotechnology, healthcare and telecommunications sectors. The firm was based in Owings Mills, Maryland[2] and maintained offices in Palo Alto, CA, Miami, FL, London, and Beijing. The company was led by two Managing General Partners, C. Ashton Newhall and James "Jim" Lim, along with General Partners Hunter Somerville, John Avirett, and Lindsay Redfield, as well as Chief Operating Officer Eric Thompson, Chief Financial Officer Carrie McIntyre, and Partners Seyonne Kang and Adair Newhall.[3] In 2021, the Firm agreed to be acquired by StepStone Group in a transaction valued north of $725 million, bringing the combined firm's assets under management to a figure around $27 billion.

Greenspring Associates pioneered the "flywheel" of venture capital investing, blending fund, direct and secondary investments while also providing bespoke solutions on behalf of large institutions.[4] As of July 2021, in combination with StepStone Group's venture capital outfit, the combined firm managed over $17B USD in assets under management (AUM)[5] on behalf of a wide range of global institutions.

History

Greenspring Associates was founded in 2000 as Montagu Newhall Associates by C. Ashton Newhall, son of New Enterprise Associates' co-founder, venture capitalist Chuck Newhall,[6] and Rupert Montagu.

In 2010, the firm became "Greenspring Associates".[7]

The firm's historical direct investments include Chewy.com,[8] Fuze,[9] Everything But The House,[10] ExactTarget (now Salesforce Marketing Cloud), NeoTract, Inc. (now Teleflex),[11] euNetworks,[12] GrubHub, Cologix,[13] Cvent, Gigya,[14] Intarcia Therapeutics, Workfront, Teamviewer, DemandBase,[15] Proofpoint, ChannelAdvisor, Cameron Health (now part of Boston Scientific), ScanSafe and Assent Compliance.[16] [17] [18]

Notes and References

  1. News: Greenspring Associates raises $430 million to invest in technology funds. Wells. Carrie. baltimoresun.com. 2017-03-04. en-US.
  2. http://www.ibj.com/articles/56776-area-firms-tap-into-vc-riches "Executives, networking helped make 2015 a watershed year for VC funding"
  3. Web site: Our Team of Investment Professionals Greenspring Associates. www.greenspringassociates.com. en-US. 2017-11-21.
  4. Web site: Greenspring Associates Inc: Company Profile . Bloomberg L.P. . 2017-03-04.
  5. Web site: Greenspring Associates Raises $800 Million for Fourth Secondaries Fund. Yahoo Finance. 2020-02-05.
  6. Web site: Clear-Eyed Capitalists: The Next Generation of Local Leaders" . Baltimore Fishbowl . Michael Yockel . Jul 28, 2011.
  7. Web site: Montagu Newhall becomes Greenspring Associates . www.bizjournals.com. 2017-03-04.
  8. Web site: Pet food retailer Chewy.com has seen fantastic growth. But can it keep up the pace? Miami Herald. www.miamiherald.com. en. 2017-04-19.
  9. News: Fuze Closes $104 Million in New Funding to Fuel Growth and Expansion as the Cloud Communications Platform for Global Enterprises. 2017-03-04. en-US.
  10. Web site: Exclusive: This Startup for Estate Sales Just Raised $41.5 Million. Fortune. 2017-03-04.
  11. News: Neotract Funding & Neotract Investors - CB Insights. 2017-11-21.
  12. News: Stonepeak Infrastructure Partners signs agreement to acquire majority interest in euNetworks - euNetworks. 2017-11-06. euNetworks. 2017-11-21. en-US.
  13. News: Private-Equity Backed Data Center Operator Cologix Explores a Sale . Kang . Jaewon . 2016-11-30. Wall Street Journal. 2017-03-09. 0099-9660.
  14. https://techcrunch.com/2013/09/19/with-700-customers-and-1-5b-uniques-gigya-lands-25m-to-help-businesses-manage-consumer-data/ "With 700 Customers And 1.5B Uniques, Gigya Lands $25M To Help Businesses Manage Consumer Data". TechCrunch Sep 19, 2013 by Rip Empson
  15. Web site: Demandbase, an account-based marketing specialist, raises $30 million. Fortune. 2017-03-09.
  16. Web site: citybizlist : Baltimore : Greenspring Associates Leads $40M Funding Round for Assent Compliance. baltimore.citybizlist.com. 2017-11-21.
  17. Web site: Montagu Newhall could see payday after ScanSafe sale . www.bizjournals.com. 2017-03-04.
  18. Web site: Greenspring Associates Our Current Investment Portfolio . www.greenspringassociates.com . en-US . 2017-03-09.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Greenspring Associates".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.