Stepstone closes fourth Tactical Growth Fund with over $700M in commitments

StepStone Group (STEP) has raised $705M for StepStone Tactical Growth Fund IV, the firm’s fourth fund focused on opportunities within the growth equity market. The Fund had strong participation from a range of investor types including sovereign wealth funds, public pensions, superannuation funds, funds-of-funds, family offices, and private wealth platforms. Through STGF IV, StepStone partners with leading growth equity sponsors in the technology and healthcare sectors. The Fund pursues founder-led businesses outside the traditional venture capital ecosystem that exhibit rapid topline growth, strong margins, capital efficiency, and minimal leverage. StepStone believes these businesses have the potential to provide complementary exposure to both buyout and venture investments while generating liquidity that is not dependent on an open IPO market or large-scale strategic M&A. STGF IV is managed by StepStone’s Venture Capital and Growth Equity Team.