Conversus StepStone Private Venture & Growth Fund
Filed: 29 Feb 24, 4:36pm
SPRING Proxy Message – Home offices & Advisors
As a firm that has clients invested in StepStone Private Venture and Growth Fund (SPRING), we need your help in getting a shareholder vote. In regards to the SEC filing dated February 29, 2024, we are asking investors to go to www.proxyvote.com and vote their approval as:
| • | A substantial portion of the investment strategy of SPRING’s portfolio has been and will be the information technology sector. |
| • | We have determined the information technology focus that was disclosed in SPRING’s strategies should be approved by SPRING shareholders as a policy of the fund in order to comply with technical disclosure requirements. |
We want to assure you there will be no long-term change in SPRING’s investment strategy or process that has produced a 40% net gain since inception in November 2022. In 15 months, we have closed on 76 investments, creating a portfolio of over 1,000 companies broadly diversified by type, size and geography. Investor reception has been very strong, and we now have a broad syndicate of wealth management platforms allocating capital to SPRING.
We believe that SPRING’s performance has been driven by our strategy of investing in the “innovation economy,” the most dynamic companies, technologies, and sectors identified by StepStone as benefiting from attractive secular trends, including enterprise information technology, technology-enabled products and services, consumer internet, healthcare, branded consumer/consumer packaged goods, and other sectors that StepStone believes benefit from attractive secular trends. These secular trends include digital integration and technology adoption across numerous industries, the continued shift from on-premise to cloud computing and the emergence and rapid growth of blockchain technologies. StepStone believes this trend is going to continue, so we need your support to make the appropriate change to our disclosures.
Again, we have prepared a proxy statement describing this policy and requesting shareholder approval, a sample of which can be found here for convenience. We would appreciate your support in quickly securing this approval. Additionally, if your firm has discretionary authority, please contact kristine.westley@stepstonegroup.com for a form to complete which will provide you the authority to vote your client’s shares.
Thank you for your assistance and support of StepStone Private Venture and Growth Fund.