Conversus, an investment platform designed to expand access to the private markets for high net worth and accredited investors, has launched the Conversus StepStone Private Venture and Growth (CSPRING). CSPRING has begun accepting subscriptions and expects to hold its first closing over the next several months.
CSPRING offers individual investors and smaller institutions exposure to venture capital and growth equity in a single investment. As an open architecture solution, CSPRING’s portfolio seeks broad diversification across underlying managers, investment stages, and sectors of the innovation economy. CSPRING will predominantly purchase venture and growth equity fund interests on the secondary market with shorter expected durations to liquidity, as well as later stage direct investments and limited seasoned primary investments.
CSPRING will leverage StepStone’s venture capital and growth equity platform, scale, and relationships to gain access to historically top-tier managers and their individual companies deemed most attractive. StepStone will invest CSPRING’s capital alongside its institutional clients.
Designed specifically for individual investors and small institutions, CSPRING’s investor-centric structure emphasizes convenience, efficiency, and transparency. An evergreen fund, CSPRING will raise capital and hold closings on a monthly basis while providing liquidity through quarterly tender offers. There are no ongoing capital calls, and tax reporting will be provided via a 1099 rather than a K-1. CSPRING is available to Qualified Clients in the US with a minimum investment of $50,000 through a range of share classes created for various wealth management platforms.
