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Greenspring Associates raises $430 million to invest in technology funds

Owings Mills-based Greenspring Associates has raised $430 million to invest in tech funds.

Owings Mills-based Greenspring Associates announced Thursday it will start a new $430 million fund to invest in other technology-focused funds.

The company's seventh funding round, called Greenspring Global Partners VII, will invest in established and emerging venture capital managers, expansion stage companies and the secondary interests of funds and companies.

Greenspring Associates manages over $3.6 billion in assets with various venture capital investment strategies. Its portfolio includes funds and direct investments such as GrubHub, Longworth Venture Partners and Cloud Sherpas.

"While technology has advanced rapidly over the past decade, we believe that we're still in the early stages of the technology innovation cycle, and that there are a substantial number of disruptive startups out there competing to be leaders in large expanding industries such as cloud and mobile," said Jim Lim, Greenspring's managing general partner, in a statement.

cwells@baltsun.com

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