Pinegrove Closes $1.5 Billion Oversubscribed Strategic Investors Fund XII

SIF XII builds on Pinegrove's 26-year track record of top-quartile performance, providing institutional investors with concentrated exposure to leading venture managers and the world's most innovative private technology companies

SAN FRANCISCO, Sept. 10, 2026 /PRNewswire/ -- Pinegrove Venture Partners ("Pinegrove") today announced the final closing of Strategic Investors Fund XII ("SIF XII"), raising $1.5 billion across its Early and Scale strategies. SIF XII was significantly oversubscribed, with investor demand far exceeding the strategy's fundraising target.

For over 26 years, the SIF program has provided institutional investors with concentrated exposure to a select group of leading and emerging venture managers and, through those managers, the innovative companies they back. SIF XII continues that approach through two complementary strategies: SIF XII-Early, which invests with early-stage managers, and SIF XII-Scale, which invests with expansion-stage managers and selective co-investments alongside leading GPs. Together, the strategies enable investors to build exposure across the venture lifecycle.

"Venture capital rewards patience, conviction and trusted relationships," said Aaron Gershenberg, Managing Partner of Pinegrove Venture Partners. "Pinegrove has worked to provide institutional investors with differentiated access to the managers, companies and opportunities shaping the innovation economy. SIF XII reflects the continued confidence of our partners in that approach and in our ability to create value through every phase of the venture cycle."

Pinegrove's differentiated approach extends beyond manager selection. The firm's long-standing partnerships create a durable information advantage and position Pinegrove to identify opportunities that are often unavailable through conventional venture fund primary structures. This includes bespoke co-investments, tailored portfolio solutions and strategic capital opportunities developed in collaboration with venture managers, founders and limited partners.

"Pinegrove has established a leading venture platform through decades of trusted relationships across the innovation ecosystem," said Anuj Ranjan, CEO of Brookfield Private Equity. "Over the past several years, Aaron Gershenberg, Sulu Mamdani, Thorben Hett, and the broader team have continued to enhance that platform, building an exceptional portfolio with SIF XII, while deepening the firm's position as a trusted partner to leading venture managers and institutional investors. Their continued focus on partnership and disciplined execution has further strengthened Pinegrove's position within the venture ecosystem, and we believe the firm is exceptionally well positioned for the years ahead."

Pinegrove's objective is not merely to provide venture exposure; it is to serve as a strategic partner to institutional investors navigating a complex and increasingly specialized private-markets landscape. The firm works with its limited partners to build portfolios that reflect their individual objectives, pacing needs and risk parameters.

"We could not be more excited to anchor Pinegrove SIF XII," said John Bradley, Head of Private Equity for the Florida State Board of Administration. "Pinegrove is one of our most important and successful partnerships, helping us access the innovation economy."

SIF XII is investing across a three-year vintage during a period of accelerating innovation across artificial intelligence, infrastructure, enterprise software, healthcare, life sciences and defense. Through its underlying venture managers and co-investment program, the fund has already provided exposure to leading private technology companies while continuing to invest in the next generation of category-defining businesses as they emerge. With SIF XII now closed, Pinegrove will continue deploying capital across its Early and Scale strategies while partnering with leading venture managers and institutional investors worldwide.

About Pinegrove
Pinegrove operates an integrated investment platform with over $15 billion in assets under management across venture fund primaries and co-investments (Pinegrove Strategic Partners), venture debt and private credit (Pinegrove Credit Partners), and venture and growth secondaries (Pinegrove Opportunity Partners). Backed by HRTG Partners and Brookfield Asset Management, Pinegrove combines complementary investment capabilities to serve founders, companies, venture managers and institutional investors with creative and tailored capital solutions

SOURCE Pinegrove Venture Partners