About This Fund
Adams Street Venture Innovation Fund IV Program is a $1.2 billion-plus global venture capital program that reached final close in October 2024, managed by Adams Street Partners, the Chicago-based 100% employee-owned alternatives firm managing over $60 billion in assets under management. The program comprises three constituent Delaware limited partnerships: Venture Innovation Fund IV LP, Leaders Fund II LP, and Adams Street Venture Select Fund 2023. The program was oversubscribed, closed above its fundraising target, and is more than 40% larger than the predecessor Venture Innovation Fund III program, reflecting strong institutional demand across three continents.
The program deploys capital across three complementary approaches: primary commitments to top-tier venture capital fund managers globally, secondary purchases of existing VC fund interests, and direct co-investments into high-growth, venture-backed portfolio companies. The blended strategy is designed to maximize exposure to the global innovation economy, with Adams Street identifying artificial intelligence as a key secular driver alongside sectors such as enterprise software, healthcare technology, and fintech. The multi-manager architecture provides diversification across stage, geography, and manager strategy while leveraging Adams Street's multi-decade GP relationships—the firm has invested in venture capital since the 1970s.
Adams Street's venture platform draws on relationships with more than 250 general partners worldwide and has generated a track record across four successive program vintages, each materially larger than its predecessor. Limited partner support for VIF IV spanned institutional investors, foundations, family offices, and wealth platforms from three continents. In parallel with the global VIF IV Program, Adams Street closed a dedicated €270 million European Venture Fund in May 2025, demonstrating the firm's commitment to regional VC ecosystems as a complement to its broader global program.