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FINANCE | Investment Firms & Funds
greenspringassociates.com

Investments

203

Portfolio Exits

70

Funds

69

Partners & Customers

1

About Greenspring Associates

Greenspring Associates invests in established and emerging venture capital fund managers, in expansion stage venture-backed companies, and in secondary investments in venture capital funds and companies. On July 7th, 2021, Greenspring Associates was acquired by Stepstone Group.

Headquarters Location

100 Painters Mill Road Suite 700

Owings Mills, Maryland, 21117,

United States

410-363-2725

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Latest Greenspring Associates News

Kallyope Receives $8.2 Million Grant from Gates Foundation

May 12, 2023

May 11, 2023 Jay Galeota Kallyope , a New York startup developing therapeutics for diseases with high unmet needs, has received a $8.2 million grant from the Bill & Melinda Gates Foundation. The grant adds to a huge war chest of $479 million Kallyope has raised from venture firms, including Baltimore-based Greenspring Associates. Greenspring’s stake in Kallyope, during its participation in a Series C round, is now held by New York-based StepStone Group after it acquired Greenspring in 2021. Commercialization Rights Under a four-year agreement with the Gates Foundation, Kallyope will develop bioactive compounds that can help undernourished pregnant and lactating women who are experiencing so-called environmental enteric dysfunctions (EED). Such compounds are expected to improve maternal, newborn and children’s health. Kallyope will retain the right to commercialize compounds derived from the program as possible therapeutics in other global regions. “This is a unique, inspiring opportunity for Kallyope to positively impact global health by leveraging our industry-leading research platform, Klarity, which integrates multiple sophisticated technologies to develop transformative therapeutics in the areas of metabolism, gastrointestinal disease, and neurological disorders,” said Kallyope president and CEO Jay Galeota , an industry veteran who previously led Inheris BioPharma. For 28 years, Galeota served Merck, holding the positions of chief strategy and business development officer and president of Emerging Business toward the end. He holds a Bachelor of Science in biology from Villanova University and is a graduate of Harvard Business School’s Advanced Management Program. Gut-Brain Axis Kallyope was founded by Nancy Thornberry, presently the company’s chairman, in 2015. She  served as its CEO until 2021, and now chairs the company’s Research & Development team. Prior to Kallyope, Thornberry headed Merck’s franchise for diabetes and endocrinology. citybiz+ Sponsors

Greenspring Associates Investments

203 Investments

Greenspring Associates has made 203 investments. Their latest investment was in Panorays as part of their Series C on March 3, 2023.

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Greenspring Associates Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/25/2023

Series C

Panorays

No

2

12/20/2021

Series D

Turing

$87M

Yes

10

11/18/2021

Series C

Trusted

$94M

Yes

9

11/9/2021

Series D

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$99M

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10

10/19/2021

Series D

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$99M

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10

Date

3/25/2023

12/20/2021

11/18/2021

11/9/2021

10/19/2021

Round

Series C

Series D

Series C

Series D

Series D

Company

Panorays

Turing

Trusted

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Amount

$87M

$94M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

2

10

9

10

10

Greenspring Associates Portfolio Exits

70 Portfolio Exits

Greenspring Associates has 70 portfolio exits. Their latest portfolio exit was Ribbon on May 08, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/8/2023

Acquired

$99M

1

9/6/2022

Acquired

$99M

3

6/17/2022

Reverse Merger

$99M

4

4/29/2022

IPO

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$99M

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10

12/1/2021

Acquired

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$99M

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10

Date

5/8/2023

9/6/2022

6/17/2022

4/29/2022

12/1/2021

Exit

Acquired

Acquired

Reverse Merger

IPO

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

3

4

10

10

Greenspring Associates Acquisitions

1 Acquisition

Greenspring Associates acquired 1 company. Their latest acquisition was PCI Pharma Services on June 21, 2012.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

6/21/2012

Other

$99M

$79M

Acq - Fin

Date

6/21/2012

Investment Stage

Other

Companies

Valuation

$99M

Total Funding

$79M

Note

Acq - Fin

Sources

Greenspring Associates Fund History

69 Fund Histories

Greenspring Associates has 69 funds, including Greenspring Micro III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/18/2020

Greenspring Micro III

$145.65M

2

11/2/2020

Greenspring Opportunities VI (Cayman)

$68.45M

2

11/2/2020

Greenspring Opportunities VI

$578.18M

2

10/28/2020

Greenspring SPV VII-E

$99M

10

3/30/2020

Greenspring IL Master II

$99M

10

Closing Date

12/18/2020

11/2/2020

11/2/2020

10/28/2020

3/30/2020

Fund

Greenspring Micro III

Greenspring Opportunities VI (Cayman)

Greenspring Opportunities VI

Greenspring SPV VII-E

Greenspring IL Master II

Fund Type

Status

Amount

$145.65M

$68.45M

$578.18M

$99M

$99M

Sources

2

2

2

10

10

Greenspring Associates Partners & Customers

1 Partners and customers

Greenspring Associates has 1 strategic partners and customers. Greenspring Associates recently partnered with Disruption Corporation on February 2, 2015.

Date

Type

Business Partner

Country

News Snippet

Sources

2/12/2015

Partner

United States

Disruption, Greenspring Partner on VC Data Analytics Platform

ARLINGTON , Va. -LRB- Feb. 12 , 2015 -RRB- -- Disruption Corporation and Greenspring Associates today announced they have partnered to build a scalable data analytics platform delivering predictive and visual analytics on Greenspring Associates 's existing portfolios , prospective deals and the venture capital industry as a whole .

1

Date

2/12/2015

Type

Partner

Business Partner

Country

United States

News Snippet

Disruption, Greenspring Partner on VC Data Analytics Platform

ARLINGTON , Va. -LRB- Feb. 12 , 2015 -RRB- -- Disruption Corporation and Greenspring Associates today announced they have partnered to build a scalable data analytics platform delivering predictive and visual analytics on Greenspring Associates 's existing portfolios , prospective deals and the venture capital industry as a whole .

Sources

1

Greenspring Associates Team

5 Team Members

Greenspring Associates has 5 team members, including , .

Name

Work History

Title

Status

Rupert Montagu

Founder

Current

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Name

Rupert Montagu

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Work History

Title

Founder

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Status

Current

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