The Venture Codex Logo

The Venture Codex

Adams Street Partners

One North Wacker Drive, Suite 2700, Chicago, Illinois, 60606-2823, United States

Overview

Adams Street Partners is a global private market investment management firm that offers comprehensive solutions for its investors. As one of the independent, employee-owned firms, Adams Street has established a reputation for strong performance, an extensive knowledge base, and a disciplined investment approach that values quality over quantity. For more than 45 years, Adams Street has gained the experience to successfully manage through some of the most challenging investment cycles. The collective knowledge of the Adams Street team works collaboratively to leverage the global resources of the Firm in navigating the complexities of private markets. Its mission as a premier private markets investment manager is to provide world-class investment performance and maintain the confidence of our investors through our deep understanding of the global private marketplace and deliver exemplary client service.

Total investments
151
Lead investments
49
Investments · 12mo
4
Active investors
9

Sector focus

  • Asset Management
  • Finance
  • Financial Services
  • Venture Capital
Visit website

Investment portfolio

  • Turquoise Health

    Participated · Series C · Mar 2026

    Turquoise Health operates a transaction efficiency platform that connects pricing data, contract intelligence, and revenue cycle workflows in a unified system. The platform is designed to give healthcare finance teams greater precision in negotiations and to reduce administrative waste. The company is led by CEO Chris Severn and is based in San Diego, CA. Since its founding five years ago, Turquoise has grown to nearly 200 employees and serves more than 280 customers. The company raised $40M in a Series C to fund expansion of operations and continued product development. Existing investors such as Andreessen Horowitz, Adams Street Partners, and Yosemite participated in the round alongside new lead Oak HC/FT.

  • Pomelo

    Participated · Series C · Jan 2026

    Founded in 2021, Pomelo provides a modern, regionally integrated payments platform that adapts to each Latin American country’s regulatory framework. Its core offering centers on API-driven card issuing, directly connected to Mastercard and Visa, and augmented by AI-powered capabilities. The company supports more than 150 customers, including Santander, BBVA, Bancolombia, Western Union, Rappi and PicPay, and processes billions of dollars in payment volume. Over the last two years, Pomelo’s revenue has grown by more than 250%, reflecting strong demand for scalable infrastructure. With its new funding, the company plans to deepen its issuing and credit card features, develop a stablecoin-native global card, roll out payment tokenization and AI-powered chargeback management, and build additional payment rails. Pomelo positions itself as a mission-critical layer for banks, large enterprises and high-growth fintechs across the continent. Looking ahead, it will focus on strengthening its core issuing platform through 2026 while expanding into globally scalable products. To date, the fintech has raised a total of $160 million from top-tier global investors.

  • EvenUp

    Participated · Series E · Oct 2025

    EvenUp offers a specialized artificial intelligence platform that streamlines the full lifecycle of personal injury cases, from initial intake through settlement. More than 2,000 law firms rely on the software to draft demand letters and other legal documents, automate complex workflows, and optimize case outcomes. By reducing repetitive tasks, the system helps attorneys improve efficiency and accuracy while freeing staff for higher-value work. The company plans to invest heavily in research and development to add new features and enhance its core technology stack. With fresh capital, EvenUp also intends to broaden its market reach and accelerate customer acquisition across the personal injury segment. Management views the rising demand for AI solutions in legal tech as a catalyst for continued growth. The recently raised Series A funding marks the first publicly disclosed institutional round and underscores investor conviction in the company’s leadership position.

  • Vercel

    Participated · Series F · Sep 2025

    Vercel is the company behind v0, Next.js, and the AI Cloud, delivering secure, scalable infrastructure for building AI-native applications. Its platform serves a spectrum of customers from solo developers to global enterprises such as Anthropic, OpenAI, Square, PayPal, Supreme, Nike, AT&T, Hulu, Target, and Walmart. Over the past year the company has doubled its user base and recorded 82% year-over-year top-line growth. v0, Vercel’s AI development agent, has attracted more than 3.5 million unique users, with Teams and Enterprise accounts now contributing over 50% of v0 revenue, while the AI SDK logs 3 million weekly downloads. The firm is extending its offering with v0 Mobile—now in public beta and waitlisted by 10,000 users—enabling application creation via voice and camera input. Future investments will focus on scaling the AI Gateway, AI Sandbox, and AI SDK to deepen enterprise adoption. To support this growth, Vercel has added senior executives from Stripe, Redis, Capital One, HashiCorp, and IBM.

  • Cato Networks

    Participated · Series G · Jun 2025

    Cato Networks provides a unified cloud SASE platform that combines networking and security services for enterprises. The company said it has surpassed $300 million in annual recurring revenue and was valued at more than $4.8 billion after its June financing. Cato announced its first acquisition, Aim Security, and plans to integrate Aim’s AI security capabilities into its platform to accelerate AI-driven security features. Management framed AI transformation as the next major enterprise shift and is positioning the product roadmap around advanced AI security. Cato was founded in 2015 by Shlomo Kramer and Gur Shatz and is described in the article as an Israeli firm. The company emphasized that the recent financing maintained the same terms and valuation as the June round. Cato Networks delivers enterprise-grade security and networking as a single, cloud-native SASE platform that replaces legacy firewalls, routers, and point solutions with an embedded security stack and purpose-built global cloud network. The platform converges SD-WAN, LAN security, SSE, XDR, ZTNA, and other capabilities to provide scalable, self-maintaining connectivity and threat prevention. Cato emphasizes AI-driven automation and decisioning, embedding AI into infrastructure to accelerate response workflows and reduce routine operational burden. The company says it serves more than 3,500 enterprise customers and reported 46% year-over-year growth in ARR for 2024. With the new funding, Cato plans to advance AI security, accelerate R&D across DEM, IoT/OT, and other use cases, and expand its global partner and customer-facing teams. The business positions itself as a category leader focused on simplifying infrastructure and increasing operational efficiency for IT and security teams. Cato Networks packages software-defined networking, managed cybersecurity and a global backbone into a single cloud-based mesh that functions as an SD-WAN and SASE. It operates global points of presence that deliver networking and security services and maintains a metadata database of network flows enriched with security information for in-house training and AI models. The company uses purpose-built AI to process more than 250 threat intelligence feeds, publish updated blacklists every four hours, and applies deep learning in its intrusion prevention system. Cato has roughly 670,000 remote users across over 1,900 business customers and crossed $100 million in annual recurring revenue last year. With the new funds it plans to expand product offerings and global reach, grow its partner ecosystem, and increase engineering and product headcount from 800 to over 900 by year-end. Founded in 2015 and headquartered in Tel Aviv, Cato is valued at over $3 billion. Cato Networks offers a cloud-native SASE platform—Cato SASE Cloud—built on proprietary Cato SPACE technology to connect and secure sites, mobile users, and cloud resources. Its Cato Cloud enables customers to migrate from MPLS to SD-WAN, optimize connectivity to on-premises and cloud applications, enable secure branch Internet access, and connect mobile users via a client or clientless options. The platform is distributed across more than 65 points of presence worldwide. Led by CEO and co-founder Shlomo Kramer, the company focuses on converging SD-WAN, network security, and ZTNA into a single global service. Cato intends to use the new funds to accelerate sales, technology, and business growth to further support the security and global networking needs of large enterprises. The article reports a $2.5 billion valuation following the raise. Cato Networks offers a cloud-native converged SASE platform called Cato Cloud that connects and secures enterprise edges — sites, mobile users, and cloud resources — in a single global service. The platform converges networking and security capabilities to reduce IT complexity, improve security effectiveness, increase agility, and lower operational costs. Cato says the Cato Cloud was built from the ground up as a converged and cloud-based global SASE service. The company will use the new funding to accelerate its SASE market and technology expansion strategy. This funding strengthens Cato’s financial position and reflects investor confidence in its market leadership, following a prior valuation of $1 billion.

Team