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Private Equity
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Investments

8

Portfolio Exits

6

Funds

25

Service Providers

2

About GroveStreet

GroveStreet is a private equity and venture capital investor that specializes in providing customized access for large institutional investors.

GroveStreet Headquarter Location

2221 Washington Street Building 1, Suite 201

Newton Lower Falls, Massachusetts, 02462,

United States

781.263.6100

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Latest GroveStreet News

Nippon Life commits $100m to GroveStreet’s healthcare impact fund

Oct 1, 2020

A man walks past a logo of Japanese life insurer Nippon Life at the company's headquarters in Tokyo April 21, 2011. REUTERS/Yuriko Nakao October 1, 2020 Nippon Life Insurance Co , the largest Japanese life insurer by revenue, announced that it has decided to invest about $100 million in Life Science Impact Program , a healthcare impact fund managed by the affiliates of private equity and venture capital investor Grove Street Advisors (GroveStreet). The commitment will be carried out by a fund managed by Nippon Life’s subsidiary Nissay Asset Management Corporation. In a statement, Nippon Life said the fund invests in companies seeking to generate impact mainly in the area of healthcare. Specifically, it will invest in companies that are developing new drugs and medical equipment that aim to enhance the quality of life and healthy life expectancy. GroveStreet’s investments in the segment include antibody research and development of an early vaccine against the COVID-19 pandemic. “The fund will invest in high-quality healthcare venture capital funds, to aim for financial returns while at the same time create and measure social impact and contribute to the achievement of the United Nations’ SDGs,” Nippon Life said. The investment comes less than three months after Nippon Life announced plans to invest 30 billion yen ($280 million) in companies that provide social and environmental issues within three years. It reportedly is looking at companies that provide solutions in fields like healthcare, food, and climate change. The Japanese insurer actively engages in ESG investments and loans to contribute to solving environmental and social issues. Impact investment that contributes to the achievement of SDGs is one such activity. “Through investment in this fund, we will accumulate knowledge related to measuring impact in the healthcare field together with GroveStreet, and utilize the investment in the expansion and development of our company’s impact investment,” Nippon Life said. GroveStreet invests in venture capital and private equity funds and has a prominent historical track record of investment in healthcare venture capital funds. It has been entrusted with $9 billion of commitments by 14 investors from across the globe through 37 separate accounts since its inception in 1998. Impact investment has reached 70 trillion yen globally, according to a Nikkei report. Japan, however, has been a slow starter in this segment but Nippon Life’s foray into impact investment could encourage other players to follow. Sign up for our newsletter - The Daily Brief Opt out of receiving The Daily Brief in your inbox everyday REGISTER 2You have one free story left this month.You have 2 free stories left this month.This is your last free story of the month. Register to continue reading our free content. × We will never share your information with third parties. If you don’t already have an account click the button below to create your account. Join DealstreetAsia's premium subscription service Unlock your competitive advantage in a rapidly evolving landscape. Our packages come with exclusive access to archive content, data, discount on summit tickets & more. Be a part of our growing community now. Singapore Reporter/s In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must. Following vacancies can be applied for (only in Singapore). Following vacancies can be applied for (only in Singapore). A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion. A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia. Singapore Reporter/s In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must. Following vacancies can be applied for (only in Singapore). Following vacancies can be applied for (only in Singapore). A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion. A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

GroveStreet Investments

8 Investments

GroveStreet has made 8 investments. Their latest investment was in Neurogesx as part of their Series B on January 1, 2002.

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GroveStreet Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/14/2002

Series B

Neurogesx

$22.86M

Yes

8/10/2001

Series C

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$99M

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0

10/24/2000

Series A

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$99M

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0

8/18/2000

Series C

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$99M

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0

8/18/2000

Series B

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$99M

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0

Date

1/14/2002

8/10/2001

10/24/2000

8/18/2000

8/18/2000

Round

Series B

Series C

Series A

Series C

Series B

Company

Neurogesx

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Amount

$22.86M

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

0

0

0

0

GroveStreet Portfolio Exits

6 Portfolio Exits

GroveStreet has 6 portfolio exits. Their latest portfolio exit was Neurogesx on April 17, 2013.

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

4/17/2013

Acq - P2P

$99M

1

2/9/2012

Acquired

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0

9/22/2006

Acquired

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$99M

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0

9/1/2006

Asset Sale

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10

4/19/2004

Acquired

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0

Date

4/17/2013

2/9/2012

9/22/2006

9/1/2006

4/19/2004

Exit

Acq - P2P

Acquired

Acquired

Asset Sale

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

1

0

0

10

0

GroveStreet Fund History

25 Fund Histories

GroveStreet has 25 funds, including Keva III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/31/2009

Keva III

Fund Of Funds

Closed

1

1/4/2004

GS Partners Ventures

Fund Of Funds

Closed

$150M

1

Oregon PERF III

Fund Of Funds

Closed

1

Florida SBA Buyout II

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10

Finnish LGPI (Keva) II

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10

Closing Date

12/31/2009

1/4/2004

Fund

Keva III

GS Partners Ventures

Oregon PERF III

Florida SBA Buyout II

Finnish LGPI (Keva) II

Fund Type

Fund Of Funds

Fund Of Funds

Fund Of Funds

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Status

Closed

Closed

Closed

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Amount

$150M

Sources

1

1

1

10

10

GroveStreet Service Providers

2 Service Providers

GroveStreet has 2 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

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Service Provider

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Associated Rounds

Provider Type

Counsel

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Service Type

Partnership data by VentureSource

GroveStreet Team

11 Team Members

GroveStreet has 11 team members, including current Chief Financial Officer, Adam Blumenstein.

Name

Work History

Title

Status

Adam Blumenstein

Chief Financial Officer

Current

Ann M St. Germain

Chief Financial Officer

Current

Frank Angella

Managing Partner

Current

Catherine Crockett

Managing Partner

Current

Barry Gonder

Managing Partner

Current

Name

Adam Blumenstein

Ann M St. Germain

Frank Angella

Catherine Crockett

Barry Gonder

Work History

Title

Chief Financial Officer

Chief Financial Officer

Managing Partner

Managing Partner

Managing Partner

Status

Current

Current

Current

Current

Current

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