Fundraising

Clean Growth VI is 60% invested and its first distributions are scheduled for later this month.

The firm is looking to close on its third and largest secondaries fund, after closing its second such fund in 2021.

The firm wants to raise almost 60% more than it did for its predecessor vehicle.

The firm believes VC secondaries will shift venture capital from an illiquid to liquid asset class in the near future, according to founding partner Alan Vaksman.

Details of the fund's target and fundraising update, as well as expected performance and fees, were disclosed in US pension documents.

The GP-led and special situations-focused manager had raised around one-quarter of its target as of mid-May.

The niche secondaries firm is seeking $450m for Glouston Private Equity Opportunities VII.

Hamilton Lane Secondary Fund VI launched in 2021 with a $5bn target and is more than 40% larger than its predecessor.

Longstanding LP relationships and market dynamics helped the firm raise the biggest pool of capital for venture secondaries, according to partner John Avirett.

Private equity secondaries will be a $500bn market by 2030, the firm's founder and chief investment officer Jeremy Coller tells Secondaries Investor.