NEW YORK — Aberdeen Standard Investments (ASI) has closed Aberdeen Venture Partners XI (AVP XI), its 11th program in the firm’s venture capital strategy.
The fund, which raised $200 million in commitments from a range of family offices and institutional clients, will invest in leading early-stage, tech-focused venture managers around the world. The fundraising surpassed its target, reaching a scale reflective of the current potential opportunity set in the sector and the strategically concentrated nature of the portfolio.
Kirsten Morin, Co-Head of Global Venture Capital, commented: “Investment returns in the venture capital industry have been driven by a relatively small number of ground breaking, category-defining technology companies that grew quickly from start-up to global enterprises, creating exponential growth in shareholder value.
“The community of global venture capital funds that are most likely to back such winners remains relatively small and tightknit. Our mission is to invest in those venture capital funds that are able to identify the next wave of game-changing technology companies. The challenge is that the industry’s top performing early-stage managers are either difficult to find, difficult to diligence and/or – most notably – difficult to access, rendering the strategy ideal for an outsourced fund-of-funds approach.”
ASI has been investing in venture capital funds for 25 years, deploying over $3 billion in venture capital commitments in one of the hardest areas of the market to access.
Chris Demetriou, CEO of the Americas for ASI, added: “The continued demand for this strategy from new and existing investors is a vindication of the team’s disciplined approach, depth of experience and strong performance.”
Aberdeen Standard Investments
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Notes to editors
About Aberdeen Standard Investments
- Aberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
- With over 1,000 investment professionals we manage $669.1 billion* of assets worldwide. We have clients in 80 countries supported by 50 relationship offices. This ensures we are close to our clients and the markets in which they invest.
- We are high-conviction, long-term investors who believe teamwork and collaboration are the key to delivering repeatable, strong investment performance.
- Aberdeen Standard Investments is the asset management business of Standard Life Aberdeen plc, one of the world’s largest investment companies.
- Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on August 14, 2017.
* Standard Life Aberdeen AUM as of June 30, 2019.