Assets Under Management & Supervision1,2
General Partners With Whom We Actively Invest3
Years Investing Experience4
As of 3/31/2025
What We Do
Strategic access to high-growth opportunities
We leverage our deep, long-standing relationships to access what we believe are the most compelling venture and growth equity opportunities at optimal stages and through efficient structures. Our strategy aims to deliver asymmetric returns by limiting downside while capturing the attractive upside that venture and growth equity investments can provide.
Balancing disruption with opportunity
With low correlation to traditional strategies, our approach is driven by sensitivity to innovation cycles rather than market movements. By targeting long-term, compounding growth, we seek to deliver attractive risk-adjusted returns and take advantage of market disruption.
Technology platform and access to data provide competitive advantage
Our continued investment in private markets technology solutions provides unparalleled access to information, including a database with over 24,000+ funds, 17,000+ unique managers, and 178,000+ companies. Further, each year the firm participates in 1,300+ meetings with general partners on average, and reviews 1,100+ PPMs. Together, these insights help enable us to be a more informed investor and a valuable strategic partner to managers, thereby providing access to unique opportunities.
As of 9/30/2025
Leadership Team
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Deal Spotlights
Project Select
The HL advantage
An LP-interest secondary transaction that provides exposure to a diversified portfolio of 29 late-stage and growth equity assets.
Why it matters
Project Select provides access to well-established and category-defining technology companies, including notable holdings such as Whatnot, xAI, Safe Superintelligence, OpenAI, Anthropic, Databricks and Cursor. Since our initial investment, xAI has been acquired by SpaceX, with plans for Cursor’s acquisition later this year. SpaceX’s recent IPO valued the company at ~$2 trillion, the largest IPO in history.
The HL Approach
We leveraged prior secondaries and co-investment diligence across the portfolio’s key assets to quickly build conviction and prevail in a competitive bidding process. This approach provided attractive access to highly valued private companies at compelling entry valuations relative to the market.
The bottom line
We leveraged our proprietary data and prior diligence to gain exposure to a diversified portfolio of access-constrained, market-leading technology businesses across AI and software. Acquiring these positions through a secondary transaction ahead of the potential IPO result may create the potential for future value appreciation for LPs across our portfolios. Project Select demonstrates how we use the secondary market to access leading companies in a diversified manner at attractive entry points.
Steno
Who they are
A scaled, tech-enabled litigation services provider that offers staffing, logistics and financing services to plaintiff law firms across the U.S.
Why it matters
The company provides access to a market‑leading legal services platform with a strong financial profile and notable cohort expansion dynamics. The company is positioned to compound value while benefiting from digitization and AI tailwinds across legal services.
The HL advantage
This transaction builds on a long-standing relationship we have with Savano Capital Partners, an existing investor in Steno that led the Series C financing. Due to this, we were invited to co-invest in the latest round consisting of both primary and secondary shares. Through our connection to the GP and other earlier investors in the company, we gained deep company knowledge and high conviction in the opportunity.
The bottom line
We leveraged our relationship with the lead investor to secure access to a high-growth, category-leading opportunity in an under-penetrated market with strong product differentiation, attractive economics and a clear path to continued scale.
Project Statue
Who they are
A joint effort between our Secondary and Venture Investment teams to provide a comprehensive liquidity solution across an LP interest portfolio of buyout, growth and venture funds.
Why it matters
Securing access to premium companies through the diversified pool of interests in funds positions us to capture high upside potential while reducing risk. The portfolio’s concentration around top-performing companies and the maturity of the holdings could allow for early liquidity and accelerated returns.
The HL advantage
Our long-standing relationship with the GPs and deep internal knowledge of key portfolio drivers provided unique insights into a sale process where information for buyers was highly limited. This positioned us as the preferred buyer from several GPs, enabling privileged access and securing assets under strict transfer restrictions.
The bottom line
Advantaged diligence angles and a collaborative effort leveraging unique venture insights and secondary expertise enabled us to quickly and thoroughly underwrite a broad portfolio of assets, build strong conviction and offer a compelling price to the seller. This ability to offer the seller a scaled, comprehensive solution across our traditional secondary and venture portfolios ultimately enabled us to secure the transaction at an attractive price that provides for significant upside from our conservative underwriting.
Investment Briefs
Read our take on the current landscape
2Non-discretionary Assets Under Supervision ("AUS") comprise assets from clients for which Hamilton Lane does not have full discretion to make investments in the account. AUS includes all investments for which Hamilton Lane provides services including asset allocation, strategic planning, development of investment policies and guidelines, screening and recommending investments, legal negotiations, monitoring and reporting on investments and investment manager review and due diligence. AUS equals assets under supervision for active accounts. AUS is equal to market value plus unfunded. AUS calculation does not include authorized to invest amounts (ANI). ANI can only be attributed to commingled fund-of-funds and separate accounts and cannot be attributed to underlying investments.
3Number of Active GPs includes only active GP relationships for Hamilton Lane discretionary or advisory investments. This number excludes GPs with investments for which Hamilton Lane provides Monitoring & Reporting only services as well as Legacy accounts.
4Number of years investing is based on the closing date of the first discretionary venture capital/growth equity investment made.