First Close
We are pleased to announce that our flagship venture capital fund, Hamilton Lane Venture Access Fund II (“VAF II” or “the Fund”), recently completed its first close, raising 50% of its $750 million target. VAF II seeks to build on Hamilton Lane’s 30-year track record of investing in high-growth, venture-backed companies at the forefront of innovation.
VAF II Portfolio Construction Targets
VAF II Strategy
VAF II’s objective is to achieve high-quality, long-term venture returns through two complementary strategies that provide access to leading venture capital opportunities:
Transactions
- Secondary and direct co-investments that leverage our relationships and information advantages to mitigate the J-curve, lower fees, reduce blind pool risk and accelerate cash back while gaining exposure to high-growth companies we believe are category leaders.
- Secondaries are often executed at attractive discounts, while prioritizing asset quality, and provide exposure to multi-stage and later stage opportunities. Secondaries typically diversify the portfolio by deal type and vintage.
- Direct co-investments are also typically made in exciting, high-growth potential companies that are addressing compelling market segments (e.g., AI, data technology, cybersecurity, etc.) and provide exposure across seed, early and late-stage opportunities.
Fund Investments
- A targeted portfolio of Hamilton Lane’s top VC managers.
- We invest in high-quality venture fund managers with a focus on early-stage, difficult-to-access funds. These managers are typically a blend of brand name GPs, as well as high-conviction niche managers, often spinning out from our long-standing relationships.
- The fund investments will provide exposure to diversified seed and early-stage opportunities across sectors such as diversified tech, SaaS and life sciences, among others.
Contact Us
We look forward to connecting with you about Hamilton Lane Venture Access Fund II. If you have questions, please reach out to your Hamilton Lane representative.
For data room access, please reach out to Nathan Ritsko at nritsko@hamiltonlane.com and Justine Davis at jdavis@hamiltonlane.com.
Our Venture Capital & Growth Equity Platform
Hamilton Lane has been a leading venture capital investor for 30 years, building deep relationships with over 260 GPs, resulting in more than 170 advisory board seats.3 Our $124 billion1,2,3 global venture capital platform delivers access to the significant upside potential of some of the world’s most innovative companies that are increasingly aligned with the sectors that are driving rapid growth, both in private markets and in the broader economy.
The Market Opportunity
HL VAF II is well positioned to take advantage of the rapidly expanding venture market, powered by disruptive technologies that are driving growth at the forefront of innovation. As companies stay private longer, much of the value creation now occurs in private markets, particularly venture and growth equity. With business models continuously improving and AI rapidly accelerating progress, investing today enables access to high-potential companies that are shaping the future.
Assets under management & supervision1,2,3
VC transactions reviewed in 2025
Investments completed across secondaries, direct co-investments and funds
General Partners with whom we actively invest4
*As of December 31, 2025. Inclusive of $17.4B in discretionary assets under management and $106.5B in non-discretionary assets under management.
1Discretionary Assets Under Management ("AUM") includes all investments managed by Hamilton Lane for which Hamilton Lane retains a level of discretion for the investment decisions. AUM equals assets under management for active accounts. AUM is equal to market value plus unfunded. AUM 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.
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.
3As of March 31, 2026
4Number 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.