Stepstone Group
Fund of fundsCharlotte · Seed–Late Stage
Also known as STEPSTONE GROUP EUROPE ALTERNATIVE INVESTMENTS LIMITED · STEPSTONE GROUP LP · STEPSTONE GROUP PRIVATE DEBT AG · STEPSTONE GROUP PRIVATE DEBT LLC · STEPSTONE GROUP PRIVATE WEALTH LLC · STEPSTONE GROUP REAL ASSETS LP · STEPSTONE GROUP REAL ESTATE LP
Investment thesis
StepStone Group is a global private markets investment firm; this page is a confidentiality/access disclaimer for its StepStone Private Credit Fund offerings.
Source: firm website, verified Aug 5, 2026.
What they invest in
from 11 of 11 portfolio companiesEnterprise Software ×7AI & Machine Learning ×6SaaS ×4Cybersecurity ×3Data & Infrastructure ×3Fintech ×3Cloud Computing ×2Developer Tools ×2
HQs:United States×3United Kingdom×2Mexico×1
Investments · 11 tracked
founders shown can be your intro pathStandard Nuclear manufactures TRISO nuclear fuel for advanced reactors, establishing a domestic fuel supply chain for the nuclear energy sector in the United States.
Advanced ManufacturingDeep TechEnergyNew MaterialsOak Ridge, US
Kurt Terrani(Executive Officer, Director)Kevin HarrillKeeley Marrocco(Executive Officer, Director, Promoter)Shahram GhasemianBrian JollyMichael Trammell
DuploCloud provides a platform that consolidates DevOps and cloud security for developers and organizations.
AI & Machine LearningCloud ComputingCybersecurityDeveloper Tools
Venkat Thiruvengadam(Founder, CEO & Board Member)in
Multiverse develops workforce training programs focused on equipping workers with durable skills needed for effective AI adoption in the workplace, combining soft skills and cognitive competencies.
AI & Machine LearningEdTechEnterprise SoftwareFuture of Work
Euan Blair
London Stock Exchange Group (LSEG) operates a stock exchange and provides financial market data, analytics, indices (FTSE Russell), FX trading, risk intelligence, and post-trade services for investing, trading, and risk management.
Data & InfrastructureEnterprise SoftwareFintechLondon, GB
Kroll provides valuation, risk advisory, and transaction services, including complex valuations, M&A support, regulatory compliance, tax and transfer pricing, and dispute resolution.
Enterprise SoftwareFintech
Kueski provides digital lending and payment services in Mexico, offering personal loans and a buy-now-pay-later product (Kueski Pay) for online and in-store purchases without a credit card.
FintechMexico City, MX
Adalberto Flores Ochoa(Executive Officer, Director)
BoardPeter Kellner(Director)Patrick Gallagher(Director)
Moonbounce provides AI behavior control systems that allow organizations to manage and enforce their intentions in AI systems at decision-making moments.
AI & Machine LearningCybersecurityEnterprise SoftwareSaaS
Brett Levenson-Arkin(Founder)Ash Bhardwaj(Founder)
Protect AI develops security solutions for artificial intelligence systems.
AI & Machine LearningCybersecurityEnterprise SoftwareSeattle, US
Ian Swanson(Executive Officer, Director, Promoter)Badar Ahmed(Director)Daryan Dehghanpisheh(Director)
BoardRichard Seewald(Director)Mark Kraynak(Director)Ed Sim(Director)
Rasa builds a conversational AI platform that extends large language models with business logic, enabling enterprises to develop AI agents that handle high-volume interactions securely.
AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareSaaSSan Francisco, US
Alex Weidauer(Co-founder & Strategic Advisor)Tom Bocklisch(Principal Architect)
Revefi builds data infrastructure and analytics systems for enterprise customers, leveraging expertise in database optimization, search-based business intelligence, and data quality at scale.
AI & Machine LearningCloud ComputingData & InfrastructureEnterprise SoftwareSaaS
SanjayShashank
Fund performance · per public LP disclosures · 21
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| StepStone Capital Partners V, L.P.LPs: San Diego City Employees' Retirement System | 2022 | — | 23.1% | 1.43x | 0.04x |
| Stepstone VC Global Partners XLPs: Teachers' Retirement System of Oklahoma | 2021 | — | — | 1.09x | 1.09x |
| StepStone Tactical Growth Fund III, L.P.LPs: San Diego City Employees' Retirement System | 2020 | — | 10.3% | 1.33x | 0.30x |
| StepStone Capital Partners IV, L.P.LPs: San Diego City Employees' Retirement System | 2018 | — | 17.0% | 2.06x | 0.69x |
| StepStone Tactical Growth Fund II, L.P.LPs: San Diego City Employees' Retirement System | 2017 | — | 28.2% | 2.88x | 1.54x |
| StepStone Secondary Opportunities IIILPs: Los Angeles City Employees' Retirement System | 2016 | — | 11.5% | 1.54x | 1.03x |
| StepStone Capital Partners III, L.P.LPs: San Diego City Employees' Retirement System | 2014 | — | 16.3% | 1.89x | 1.54x |
| StepStone Tactical Growth Fund, L.P.LPs: San Diego City Employees' Retirement System | 2013 | — | 18.5% | 2.57x | 2.10x |
| Stepstone Secondary Opportunities Fund IILPs: Tulare County Employees' Retirement Association | 2012 | — | 9.1% | 1.80x | 0.02x |
| StepStone International Investors III L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2006 | — | -3.7% | 0.83x | 0.82x |
| StepStone International Investors III L.P. Private EquityLPs: Pennsylvania Public School Employees' Retirement System | 2006 | — | — | 0.80x | 0.83x |
| StepStone Pioneer Capital EuropeLPs: North Carolina Retirement Systems | 2006 | — | 6.5% | 1.44x | 1.42x |
| StepStone Pioneer Capital IILPs: Connecticut Retirement Plans and Trust Funds, North Carolina Retirement Systems, Los Angeles City Employees' Retirement System | 2006 | — | 9.1% | 2.25x | 1.00x |
| StepStone SYNLPs: North Carolina Retirement Systems | 2006 | — | 0.7% | — | — |
| StepStone Pioneer Capital ILPs: North Carolina Retirement Systems, Connecticut Retirement Plans and Trust Funds, Los Angeles City Employees' Retirement System | 2004 | — | 5.1% | 1.30x | 1.31x |
| Stepstone Cc Opportunities Fund Llc Series ALPs: Contra Costa County Employees' Retirement Association | — | — | — | 1.24x | 0.53x |
| Stepstone Cc Opportunities Fund Llc Series BLPs: Contra Costa County Employees' Retirement Association | — | — | — | 2.10x | 0.27x |
| Stepstone Cc Opportunities Fund Llc Series CLPs: Contra Costa County Employees' Retirement Association | — | — | — | 1.68x | 0.63x |
| Stepstone Cc Opportunities Fund Llc Series DLPs: Contra Costa County Employees' Retirement Association | — | — | — | 1.66x | 0.47x |
| Stepstone Cc Opportunities Fund Llc Series ELPs: Contra Costa County Employees' Retirement Association | — | — | — | 1.47x | 0.01x |
| Stepstone Cc Opportunities Fund Llc Series FLPs: Contra Costa County Employees' Retirement Association | — | — | — | 0.96x | 0.00x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What stage does Stepstone Group invest at?
- Stepstone Group invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.
- What sectors does Stepstone Group focus on?
- Stepstone Group focuses on Crypto & Web3, Fintech, PropTech, Sector Agnostic.
- Where is Stepstone Group located?
- Stepstone Group is headquartered in Charlotte, US.
- Does Stepstone Group lead rounds?
- Yes, Stepstone Group leads investment rounds.
Media · Podcasts & interviews
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Images
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