Pinegrove Venture Partners Announces Expanded Relationship with Florida State Board of Administration (SBA)

Whats Happening:

Pinegrove Venture Partners has secured an additional $700 million commitment from the Florida State Board of Administration (SBA), expanding their longstanding partnership. This new investment builds on the SBA's previous $1 billion investment with Pinegrove's predecessor, SVB Capital. The expanded partnership will focus on Pinegrove's multi-strategy approach, including fund-of-funds, co-investments, credit solutions, and structured secondaries.

Key Moves:

• Florida SBA commits additional $700 million to Pinegrove Venture Partners

• Partnership expands on previous $1 billion investment with SVB Capital

• Focus on multi-strategy approach including fund-of-funds and co-investments

By The Numbers:

• $700 million new commitment from Florida SBA

• Over $1 billion in prior investments from SBA

• Pinegrove manages over $10 billion in assets

Key Quotes:

• "We are entering an extraordinary era for venture capital. The pace and magnitude of disruption across industries position the next few vintages to be among the most promising in history," - Aaron Gershenberg, CEO and Managing Partner at Pinegrove

• "Pinegrove has consistently delivered outstanding performance within our private equity portfolio," - John Bradley, Senior Investment Officer at the SBA

Bottom Line:

The expanded partnership between Pinegrove Venture Partners and the Florida SBA represents a significant vote of confidence in Pinegrove's investment strategy and ability to navigate the global innovation economy. With $700 million in new capital, Pinegrove is well-positioned to capitalize on emerging opportunities and deliver strong returns for its investors.

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