Vitruvian Capital has closed a secondary fundraise exceeding $1 billion, with placement agents Adams Street Partners and Lexington Partners taking the lead. The capital will be funneled into a newly created vehicle, Andantino AV, which consolidates Vitruvian’s stakes in four portfolio assets and incorporates certain CV components. The size of the raise places the vehicle among the largest secondary transactions this year.

By bundling multiple holdings, Andantino AV offers limited partners a streamlined exposure to mature assets while freeing Vitruvian to redeploy capital into new opportunities. Secondary investors have shown appetite for such structures, seeking liquidity and risk mitigation. The involvement of two heavyweight placement agents signals confidence in the vehicle’s pricing and underscores the continued vigor of the private‑equity secondary market.

The $1bn+ infusion bolsters Vitruvian’s balance sheet ahead of a competitive fundraising cycle, allowing it to chase high‑quality deals in a market where capital is increasingly scarce. Existing limited partners may view the transaction as a vote of confidence in Vitruvian’s asset selection and execution track record. Overall, the raise reinforces the firm’s positioning among top‑tier secondary managers.