StepStone Private Venture and Growth Fund

SPRING Lux

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Overview Strategy Performance Allocations Key terms Share classes FAQ

Overview

Legal Name:

StepStone (Luxembourg) SCA SICAV – StepStone Private Venture and Growth Fund

Manager:

StepStone Group

Website:

https://www.stepstonegroup.com/

Fundraising Status:

Open

Domicile:

Luxembourg

Legal Form:

Lux SICAV (S.C.A.)

Regulatory Regimes:

Lux UCI (Part II), EU AIF

Term:

Perpetual-Life

Base Currency:

USD

Launch Year:

2022

Inception Date:

Oct 31, 2022

Size:

$1B (as of Feb 28, 2026)

No. of Investments:

2000 (as of Feb 28, 2026)

Administrator:

Northern Trust Global Services SE

Investor Eligibility Segments:

Institutional, Professional / Accredited

Permitted Distribution Countries:

Austria, Belgium, Denmark, Finland, France

Strategy

SPRING Lux invests in venture capital and growth equity assets focused on the global innovation economy, primarily in North American and selected European technology, healthcare and consumer sectors. The fund builds a diversified portfolio across stages from seed to growth via secondary interests in funds and companies, direct co-investments, and seasoned primary funds, with limited flexibility to allocate to other private market assets benefiting from similar secular themes.

Asset Classes:

Venture Capital

Strategy:

Multi-Stage (VC)

Underlying Investment Type:

Secondaries, Direct investments

Geographic Focus Region:

North America

Geographic Focus:

North America, Europe

Sector Focus (GICS):

Information Technology, Industrials, Financials, Health Care, Communication Services, Consumer Staples, Consumer Discretionary

Sector Focus (not standardized):

Information Technology, Enterprise information technology, Technology-enabled products and services, Consumer internet, Healthcare, Branded consumer / consumer packaged goods, Industrials, Aerospace & Defense, Financials, Transaction & Payment Processing Services

Other Focus:

Minority Stake

Leverage Limits Summary:

Leverage capped at 33⅓% of gross assets; maximum AIFMD leverage 200% gross/commitment.

Investment Limits Summary:

No more than 20% of assets per issuer; UCIs 20% each; unlisted ≤10%.

Performance

for A - USD - Acc share class

Total Returns (% Net of Fees)

Net returns (since inception)	A - USD - Acc
Total Return	126.3%
Annualized Return	28.6%
Best Month	(Jan 2023)9.5%
Worst Month	(Feb 2023)-1.5%
Risk metrics (since inception)
Volatility	8.2%
Sharpe Ratio (4.3% risk-free)	2.95

Yearly returns (since inception)

Allocations

Strategy allocation

Strategy

as of Feb 28, 2026Include liquidity sleeve

Target

Strategy

as of Feb 28, 2026

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Strategy

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Geography allocation

Geography

as of Feb 28, 2026Include liquidity sleeve

Target

Geography

as of Feb 28, 2026

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Geography

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Underlying Investment Type allocation

Underlying Investment Type

as of Feb 28, 2026Include liquidity sleeve

Target

Underlying Investment Type

as of Feb 28, 2026

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Over time

Underlying Investment Type

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Sector allocation

Sector

as of Jan 31, 2026Include liquidity sleeve

Target

Sector

as of Jan 31, 2026

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Sector

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Key terms

for A - USD - Acc share class

Share Class

Minimum Subsribtion:

$1M

Currency:

USD

Inception Date:

Nov 30, 2022

Distribution Type:

Accumulating

Investor Type:

Institutional

ISIN:

LU2528864197

Liquidity

Gate:

2.5% of total outstanding shares per quarter.

Gate Level:

Fund level outstanding shares

Redemption Frequency:

Quarterly

Redemption Basis:

Future NAV per Share as of the relevant quarterly Valuation Date.

Subscribtion Frequency:

Monthly

Subscribtion Basis:

NAV per Share calculated on the Valuation Date.

Fees

Management Fee:

1.50%

Accrues monthly in arrears.

Management Fee Basis:

NAV

NAV of the Compartment including repurchased assets as of each Valuation Date.

Performance Fee:

15.00%

Compartment-level 15% incentive fee on monthly Net Profits vs Loss Recovery Account high-water mark; accrued monthly, paid annually.

Performance Fee Basis:

Change in aggregate NAV

Monthly Net Profits at Compartment level (change in NAV incl. realised/unrealised results and expenses, excluding contributions/redemptions), vs Loss Recovery Account high-water mark.

Hurdle rate:

0.00%

No preferred return; 15% incentive fee on monthly Net Profits above Loss Recovery Account (life‑to‑date high‑water mark).

Catch-up:

0.00%

Front load (subscription):

0.00%

Back load (redemption):

0.00%

Servicing fee:

0.00%

Management Fee:	1.50%	Accrues monthly in arrears.
Management Fee Basis:	NAV	NAV of the Compartment including repurchased assets as of each Valuation Date.
Performance Fee:	15.00%	Compartment-level 15% incentive fee on monthly Net Profits vs Loss Recovery Account high-water mark; accrued monthly, paid annually.
Performance Fee Basis:	Change in aggregate NAV	Monthly Net Profits at Compartment level (change in NAV incl. realised/unrealised results and expenses, excluding contributions/redemptions), vs Loss Recovery Account high-water mark.
Hurdle rate:	0.00%	No preferred return; 15% incentive fee on monthly Net Profits above Loss Recovery Account (life‑to‑date high‑water mark).
Catch-up:	0.00%
Front load (subscription):	0.00%
Back load (redemption):	0.00%
Servicing fee:	0.00%

Share classes

Name	Min. Subscription	Currency	Inception	Distribution	Investor Type	ISIN	BBG Ticker
A - USD - Acc	1,000,000 USD	USD	2022-11-30	Accumulating	Institutional	LU2528864197	-
Class B eg	250,000 EUR	EUR	15 Mar 2018	Accumulating	Institutional	LU1987654321	FUND B LX
Class C Example	500,000 USD	USD	01 Jun 2019	Distributing	Professional	IE0123456789	FUND C ID
Class D eg.	100,000 GBP	GBP	22 Sep 2020	Accumulating	Institutional	GB00ABCDEF12	FUND D LN
Class E Example	25,000 EUR	EUR	03 Jan 2021	Distributing	Retail	LU9988776655	FUND E LX
Class F Example	1,000,000 USD	USD	10 Nov 2017	Accumulating	Institutional	US1234567890	FUND F US

FAQ

What is StepStone Private Venture and Growth Fund?

StepStone Private Venture and Growth Fund is an evergreen Lux UCI fund focused on Venture Capital and managed by StepStone Group.

Who manages StepStone Private Venture and Growth Fund?

StepStone Private Venture and Growth Fund is managed by StepStone Group, based in New York, New York, United States.

How big is StepStone Private Venture and Growth Fund?

StepStone Private Venture and Growth Fund has a size of $1B.

What type of fund is StepStone Private Venture and Growth Fund?

StepStone Private Venture and Growth Fund is an open-ended / evergreen Lux UCI fund investing in venture capital and domiciled in Luxembourg.

When was StepStone Private Venture and Growth Fund launched?

StepStone Private Venture and Growth Fund was launched on Oct 31, 2022 and is structured as a Lux SICAV (S.C.A.) vehicle with a perpetual-life term.

Where is StepStone Private Venture and Growth Fund domiciled and regulated?

StepStone Private Venture and Growth Fund is domiciled in Luxembourg under Lux UCI (Part II) and EU AIF.

Data transparency

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How does Borgline ensure data accuracy?

Borgline's analyst team cross-checks key figures across independent documents and updates the database only when data is confirmed against the latest, most authoritative disclosures.

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