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How VCs USE SPVS

Assure Analytics Report
October 2022

Many VC firms have moved beyond a pure flagship fund strategy to use other investment vehicles such as opportunity funds and special purpose vehicles. Due in large part to their flexibility, efficiency, and affordability, SPVs are becoming a core component of the venture capital investment toolkit.

The How VCs Use SPVs report analyzes dozens of datapoints around venture capital and special purpose vehicles: it unpacks everything from SPV adoption, analysis by fund stage and AUM, investor networks, context on the General Partners, management fees and carry.

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KEY
INSIGHTS

  • SPVs account for over 40% of the investment vehicles raised by VC funds.
  • The ratio of VC-led SPVs has increased by 33% in just the last four years.
  • Thus far this year, 65% of VC-led SPVs have deployed capital into preferred stock deals.
  • In the first half of 2022, VCs aggressively dropped their average investment minimums for SPVs as compared to 2021 – by roughly 65%

 

DOWNLOAD THE 2022 HOW VCs USE SPVs REPORT