In 1998, CalPERS conducted a search for an advisor to manage a program to expand our access to venture capital funds. Grove Street Advisors was selected through a competitive process to manage this program called California Emerging Ventures (CEV). Over time, CalPERS expanded this program with CEV II, CEV III and CEV IV and the program's charter was broadened to include the full range of private equity funds.

Grove Street Advisors
20 William Street, Suite 230
Wellesley, MA  02481
(781) 263-6100

The table shows fund performance information for Grove Street Advisors.

Print

Fund Vintage Year Capital Committed Cash In Cash Out Cash Out & Remaining Value Net IRR Investment Multiple
Fund Vintage Year            
(ARCH) Healthcare Focus Fund, L.P. 2001 $30,000,000 $30,000,000 $4,912,870 $6,735,257 -14.6% 0.2x
2003 Riverside Capital Appreciation Fund, L.P. 2004 $12,500,000 $12,270,418 $24,944,989 $25,025,570 17.2% 2.0x
5AM Ventures II, L.P. 2007 $10,000,000 $10,000,000 $12,760,265 $15,991,494 9.7% 1.6x
5AM Ventures LLC 2004 $10,000,000 $10,000,000 $17,740,006 $17,752,094 12.4% 1.8x
Abingworth Bioventures IV, L.P. 2003 $10,000,000 $9,850,000 $11,776,930 $12,779,279 3.9% 1.3x
ABRY Partners V, L.P. 2005 $5,000,000 $4,583,861 $9,172,925 $9,361,388 17.3% 2.0x
ABRY Partners VI, L.P. 2008 $18,000,000 $15,930,403 $32,557,907 $33,033,545 19.7% 2.1x
Alloy Ventures 2002, L.P. 2002 $10,000,000 $10,000,000 $6,246,189 $6,565,865 -8.1% 0.7x
Altor 2003 Fund (No.1) Limited Partnership 2003 $12,284,362 $12,243,822 $42,492,861 $42,637,417 35.4% 3.5x
AMV Partners I, LP 2004 $15,000,000 $12,945,343 $12,378,976 $18,450,732 3.3% 1.4x
Applied Genomic Technology Capital Fund, L.P. 2001 $5,000,000 $5,000,000 $6,962,013 $7,235,704 5.1% 1.4x
Atlas Venture Fund VI, L.P. 2001 $6,200,000 $6,200,000 $4,195,236 $6,660,561 0.8% 1.1x
Audax Private Equity Fund, L.P. 2000 $100,000,000 $99,999,999 $152,599,780 $153,297,512 12.3% 1.5x
Austin Ventures IX, L.P. 2006 $17,500,000 $17,332,381 $19,281,861 $23,574,354 5.1% 1.4x
Avalon Ventures VIII, L.P. 2007 $15,000,000 $14,866,351 $30,024,657 $43,734,467 50.4% 2.9x
Baring India Private Equity Fund II Limited 2005 $5,000,000 $4,756,991 $1,231,673 $3,979,528 -2.1% 0.8x
Baring India Private Equity Fund III Limited 2008 $10,000,000 $9,778,092 $7,726,880 $16,716,614 11.6% 1.7x
Battery Ventures VI, L.P. 2000 $6,311,253 $6,311,253 $8,323,494 $8,349,452 4.8% 1.3x
Battery Ventures VII, L.P. 2005 $3,333,333 $3,333,333 $5,963,431 $6,046,006 9.8% 1.8x
Battery Ventures VIII Side Fund, L.P. 2008 $2,256,000 $2,256,000 $5,804,071 $6,311,525 30.4% 2.8x
Battery Ventures VIII, L.P. 2007 $6,000,000 $6,000,000 $10,686,909 $14,737,273 17.3% 2.5x
Bay Partners X, L.P. 2001 $20,000,000 $20,000,000 $36,984,188 $36,984,188 7.4% 1.8x
Bay Partners XI, L.P. 2006 $4,561,288 $4,233,587 $7,843,464 $8,213,885 12.7% 1.9x
Berkshire Fund VI, Limited Partnership 2002 $25,000,000 $23,272,449 $57,381,370 $70,683,318 25.2% 3.0x
Berkshire Fund VII, L.P. 2006 $25,000,000 $24,617,216 $40,283,928 $48,922,567 16.6% 2.0x
Bertram Growth Capital I, L.P. 2007 $20,000,000 $18,648,953 $20,226,761 $28,359,403 9.7% 1.5x
Bowmark Capital Partners IV, L.P. 2008 $16,306,524 $16,306,524 $6,959,218 $20,937,132 4.6% 1.3x
Bridgescale Partners, L.P. 2006 $2,500,000 $2,262,500 $1,894,444 $2,476,996 1.3% 1.1x
Brynwood Partners V L.P. 2005 $5,000,000 $4,773,563 $9,022,038 $9,022,038 12% 1.9x
Capital Royalty Parallel I, L.P. 2005 $10,000,000 $9,624,038 $12,779,328 $12,779,328 4.9% 1.3x
Carmel Software Fund (Delaware) L.P. 2000 $7,175,000 $7,175,000 $7,619,687 $7,632,134 1.1% 1.1x
Carmel Ventures II, L.P. 2005 $5,000,000 $4,927,388 $3,213,061 $6,169,756 3% 1.3x
Carmel Ventures III, L.P. 2008 $5,000,000 $4,266,223 $212,766 $10,267,385 14% 2.4x
Celtic House Venture Partners Fund III (U.S.), L.P. 2005 $10,000,000 $9,926,760 $173,820 $1,043,844 -26.4% 0.1x
Ceyuan Ventures II, L.P. 2008 $7,000,000 $6,689,781 $4,349,561 $6,612,426 -0.2% 1.0x
Commonwealth Capital Ventures IV, L.P. 2007 $15,000,000 $15,000,000 $20,636,881 $34,264,275 12% 2.3x
DCM III, L.P. 2000 $25,000,000 $25,000,000 $26,725,728 $30,546,849 2.4% 1.2x
DT Capital China Growth Fund, L.P. 2008 $10,000,000 $9,912,530 $9,061,714 $12,713,000 4.7% 1.3x
DT Ventures China Fund II, L.P. 2007 $5,000,000 $5,000,000 $2,860,928 $5,517,584 1.1% 1.1x
Eos Capital Partners III, L.P. 2005 $15,000,000 $14,578,556 $15,295,499 $22,891,968 7.6% 1.6x
Eos Capital Partners IV, L.P. 2007 $15,000,000 $14,492,346 $13,881,957 $21,861,245 9.4% 1.5x
Flagship Ventures Fund 2007, L.P. 2007 $15,000,000 $15,000,000 $18,519,862 $26,862,515 11.7% 1.8x
Fletcher Spaght Ventures, L.P. 2001 $5,000,000 $5,000,000 $3,460,211 $7,717,582 5.9% 1.5x
Focus Ventures II, L.P. 2000 $5,000,000 $4,775,000 $5,212,562 $5,294,811 1.5% 1.1x
Foundry Venture Capital 2007, L.P. 2007 $10,000,000 $9,850,000 $41,720,319 $48,292,084 43% 4.9x
Friedman Fleischer & Lowe Capital Partners II, L.P. 2005 $20,000,000 $14,231,379 $23,218,280 $29,874,346 12.6% 2.1x
Garnett & Helfrich Capital, L.P. 2005 $14,000,000 $11,748,500 $22,215,993 $28,972,739 16.2% 2.5x
General Catalyst Group II, L.P. 2001 $25,000,000 $23,375,000 $57,751,146 $58,015,176 11.9% 2.5x
Global Catalyst Partners II, L.P. 2002 $5,000,000 $5,000,000 $2,859,051 $2,859,051 -7% 0.6x
Global Catalyst Partners III, L.P. 2006 $5,000,000 $4,650,000 $572,434 $4,739,489 0.2% 1.0x
Graham Partners II, L.P. 2005 $5,000,000 $4,915,192 $6,632,880 $8,148,091 7.8% 1.7x
Granite Global Ventures (Q.P.) L.P. 2001 $19,517,762 $19,170,887 $58,906,749 $59,121,738 29.6% 3.1x
Harren Investors II, L.P. 2008 $10,000,000 $9,117,883 $4,984,693 $7,522,291 -6.4% 0.8x
HealthCap IV, L.P. 2002 $6,654,967 $6,654,967 $9,685,764 $9,741,246 6.5% 1.5x
Highland Capital Partners V Limited Partnership 2000 $5,000,000 $5,000,000 $4,989,894 $5,162,080 0.5% 1.0x
Highland Capital Partners VI Limited Partnership 2001 $35,000,000 $35,000,000 $51,843,604 $56,486,398 11.6% 1.6x
Highland Capital Partners VII Limited Partnership 2006 $7,500,000 $7,500,000 $6,140,555 $9,662,247 4.3% 1.3x
Highland Consumer Fund I Limited Partnership 2007 $15,000,000 $15,000,000 $6,590,986 $12,298,723 -2.9% 0.8x
Huntsman Gay Capital Partners Fund, L.P. 2008 $20,000,000 $19,355,202 $23,514,985 $31,458,529 14.9% 1.6x
i2 Capital Partners 2008 $9,329,588 $8,796,024 $6,577,104 $8,158,078 -1.6% 0.9x
Index Ventures III (Delaware), L.P. 2005 $5,296,179 $5,296,179 $11,044,562 $13,930,337 16.3% 2.6x
Indium (Mauritius) PCC 2005 $5,000,000 $4,595,016 $5,996,119 $6,709,770 13.3% 1.5x
Indium III (Mauritius) Holdings Limited 2007 $10,000,000 $9,944,398 $11,906,104 $16,107,965 7.4% 1.6x
Insight Venture Partners IV, L.P. 2000 $40,000,000 $40,000,000 $66,107,706 $67,425,631 9.4% 1.7x
International Life Sciences Fund III, L.P. 2002 $10,000,000 $10,000,000 $12,664,025 $13,952,336 7.8% 1.4x
Investcorp Technology Partners III, L.P. 2008 $15,000,000 $13,341,487 $20,545,213 $26,481,889 18.2% 2.0x
Jerusalem Venture Partners IV, L.P. 2001 $7,500,000 $7,500,000 $13,189,108 $13,459,190 7% 1.8x
JMI Equity Fund IV, L.P. 1999 $2,500,000 $2,396,434 $8,413,925 $8,447,063 15.8% 3.5x
KPS Special Situations Fund II (A), L.P. 2003 $20,000,000 $14,788,344 $59,328,869 $59,328,869 55.3% 4.0x
Menlo Ventures IX, L.P. 2001 $15,000,000 $15,000,000 $14,155,353 $15,093,676 0.1% 1.0x
Morgenthaler Partners VII, L.P. 2001 $10,000,000 $10,000,000 $8,685,717 $8,748,653 -2.4% 0.9x
MPM BioVentures III-QP, L.P. 2002 $50,000,000 $50,000,000 $35,341,992 $40,814,910 -3.3% 0.8x
Nautic Partners V, L.P. 2000 $10,000,000 $9,632,038 $19,694,157 $20,385,303 17% 2.1x
New Enterprise Associates 10, Limited Partnership 2000 $75,000,000 $75,000,000 $69,628,232 $95,088,038 3.6% 1.3x
NewMargin Growth Fund, L.P. 2008 $10,000,000 $9,569,920 $3,473,645 $5,638,531 -7.8% 0.6x
North Bridge Venture Partners IV-B, L.P. 1999 $10,000,000 $10,000,000 $8,642,488 $9,022,802 -1.7% 0.9x
North Bridge Venture Partners V-A, L.P. 2001 $40,000,000 $40,000,000 $30,814,715 $35,227,500 -2.2% 0.9x
Oak Investment Partners IX, Limited Partnership 1999 $10,000,000 $10,000,000 $6,341,444 $6,530,975 -6.7% 0.7x
Oak Investment Partners X, Limited Partnership 2001 $25,000,000 $25,000,000 $25,468,289 $30,680,517 3.2% 1.2x
OpenView Venture Partners, L.P. 2007 $10,000,000 $9,864,005 $10,412,278 $23,937,510 11.1% 2.4x
Opus Capital Venture Partners V, L.P. 2006 $15,000,000 $15,000,000 $5,736,631 $15,066,832 0.1% 1.0x
OrbiMed Private Investments II, LP 2003 $10,000,000 $8,713,026 $14,339,299 $15,546,376 13.1% 1.8x
OrbiMed Private Investments III, L.P. 2007 $10,000,000 $9,465,000 $15,734,898 $22,501,961 17.4% 2.4x
Palomar Ventures II, L.P. 2000 $7,500,959 $7,500,959 $6,610,365 $6,862,318 -1.1% 0.9x
Pinnacle Ventures I-B, L.P. 2002 $30,040,818 $30,040,818 $32,629,282 $34,833,646 3.2% 1.2x
Pitango Venture Capital Fund III (USA) LP 2000 $5,000,000 $5,000,000 $3,861,502 $5,640,616 1.1% 1.1x
Pitango Venture Capital Fund IV, L.P. 2004 $20,000,000 $20,000,000 $16,368,468 $22,036,768 1.4% 1.1x
Polaris Venture Partners IV, L.P. 2002 $10,000,000 $9,950,000 $9,422,868 $12,262,463 2.6% 1.2x
Redpoint Ventures II, L.P. 2000 $9,000,000 $8,730,000 $11,650,253 $12,237,975 5.1% 1.4x
Rembrandt Venture Partners II, L.P. 2007 $2,398,836 $2,398,836 $2,467,875 $3,666,203 7.2% 1.5x
Rho Ventures V, L.P. 2005 $5,000,000 $5,000,000 $626,215 $2,875,166 -6.6% 0.6x
Rhone Partners II, L.P. 2003 $10,866,555 $10,082,323 $26,511,102 $30,993,886 42.5% 3.1x
SB Asia Investment Fund II L.P. 2005 $7,500,000 $7,500,000 $19,380,252 $24,398,571 17.5% 3.3x
Schroder Ventures International Life Sciences Fund II, L.P.1 1999 $10,000,000 $10,000,000 $13,336,078 $13,620,358 6.2% 1.4x
Sequel Limited Partnership III 2000 $25,000,000 $25,000,000 $35,301,789 $35,472,339 5.2% 1.4x
Sevin Rosen Fund VIII L.P. 2000 $10,290,000 $10,135,650 $11,340,410 $11,631,946 1.5% 1.1x
Sierra Ventures VIII-A, L.P. 2000 $20,000,000 $20,000,000 $14,614,636 $15,876,800 -3.6% 0.8x
Sinergia con Imprenditori 2005 $10,849,871 $10,243,126 $9,988,963 $11,157,759 1.9% 1.1x
Solera Partners, L.P. 2000 $75,000,000 $46,839,464 $107,207,721 $112,263,323 7.8% 2.4x
Southvest Fund V, L.P. 2005 $5,000,000 $4,299,280 $8,423,598 $9,329,661 15.6% 2.2x
STG III, L.P. 2007 $15,555,556 $15,555,556 $25,452,135 $32,300,863 12.6% 2.1x
Summit Accelerator Fund, L.P. 1999 $1,500,000 $1,417,500 $2,485,028 $2,526,131 9.8% 1.8x
Summit Ventures VI-A, L.P. 2001 $25,000,000 $25,000,000 $53,263,012 $54,145,728 15.4% 2.2x
SV Life Sciences Fund IV, L.P. 2007 $15,000,000 $14,264,422 $19,388,648 $27,885,106 13.2% 2.0x
TCV VI, L.P. 2006 $20,000,000 $19,906,000 $28,102,732 $32,804,431 13.5% 1.6x
The Column Group, L.P. 2007 $5,000,000 $4,959,491 $6,022,469 $11,732,038 19.8% 2.4x
Third Rock Ventures, L.P. 2007 $15,000,000 $15,000,000 $45,878,788 $54,290,394 32.3% 3.6x
Three Arch Capital, L.P. 2000 $40,081,923 $39,080,423 $33,167,465 $33,981,316 -1.8% 0.9x
Three Arch Partners III, L.P. 2000 $2,696,735 $2,640,485 $4,259,383 $4,339,962 8.3% 1.6x
Three Arch Partners IV, L.P. 2004 $25,000,000 $23,812,500 $25,955,594 $29,758,542 3.7% 1.3x
Trident Capital Fund - V, L.P. 2000 $5,293,999 $5,249,900 $8,728,699 $8,966,771 8% 1.7x
United States Power Fund, L.P. 2003 $15,000,000 $15,000,000 $27,721,873 $27,750,077 26.9% 1.9x
Updata Partners III, L.P. 2005 $10,000,000 $9,755,000 $14,459,794 $16,497,930 7.8% 1.7x
Updata Partners IV, L.P. 2007 $10,000,000 $9,813,745 $10,855,220 $15,659,709 9.6% 1.6x
Upfront II, L.P. (fka GRP II, L.P.) 2000 $5,000,000 $4,645,351 $10,360,443 $11,583,082 12.7% 2.5x
Upfront III, L.P. (fka GRP III, L.P.) 2009 $5,000,000 $4,924,161 $2,305,532 $7,977,410 9.2% 1.6x
VantagePoint Venture Partners III (Q), L.P. 1999 $15,000,000 $15,000,000 $5,902,647 $5,902,647 -15.8% 0.4x
VantagePoint Venture Partners IV (Q), L.P. 2000 $50,000,000 $50,000,000 $43,640,732 $47,667,875 -0.7% 1.0x
Vector Capital IV, L.P. 2007 $25,000,000 $24,123,680 $21,447,573 $44,016,394 14.3% 1.8x
VIP I B L.P. 2007 $10,332,379 $9,870,232 $10,925,710 $18,153,247 11.9% 1.8x
West Rim Capital Partners II, L.P. 2008 $10,000,000 $9,716,331 $5,624,075 $16,992,592 11% 1.7x

1Not Meaningful: Funds with a vintage year of 2013 or later are in the initial stages of their investment life cycle. Any performance analysis done on these funds would not generate meaningful results as private equity funds are understood to be long-term investments.

2Partnership investment is using a cash adjusted market value.