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National Post
29-05-2025
- Business
- National Post
Empathy Announces $72 Million Series C and Unveils Empathy Alliance
Article content Adams Street Partners leads fundraise alongside General Catalyst, Index Ventures, and strategic investor coalition, positioning company for accelerated product innovation and further expansion Article content Article content NEW YORK — Empathy, the leading technology company transforming how the world plans for and manages life's toughest moments, announced today a $72 million Series C fundraise led by Adams Street Partners with participation from General Catalyst, Index Ventures, Entrée Capital, Brewer Lane Ventures, SemperVirens, Latitude, and LionTree, bringing total capital raised to $162 million. Alongside this most recent round, the company has formalized the Empathy Alliance, a coalition of market leaders and luminaries passionate about reimagining cultural standards around access to support. With a commitment to fund innovation that moves the industry forward, members of the Empathy Alliance who participated in the company's Series C include Aflac Ventures, Allianz Life Ventures, Citi Impact Fund, Munich Re, MetLife, New York Life, Securian, and TIAA Ventures. Article content This announcement follows Empathy's recent category expansion into legacy planning and preparation with Empathy LifeVault™, broadening its platform to allow individuals to create and securely store legally binding estate plans and essential documents in minutes. Launched in 2021, Empathy's leading loss support solution has eased logistical and emotional burdens for millions of people, including one in five life insurance claimants, through partnerships with renowned financial institutions and over one thousand employers. Article content With increased distribution over the past four years, Empathy provides coverage for over 45 million lives, and in the past four months, seven million individuals have received access to LifeVault through partners like Aflac, New York Life, Voya, and more, demonstrating the company's rapid growth with thoughtful carriers and progressive employers, through its product ecosystem. AI has become an integral part of Empathy's platform, introduced to enhance the Care Team's speed, accuracy, and reach through real-time insights, guidance, and automation. While AI plays a crucial role in providing support at scale, human care remains central to Empathy's mission. Building on Empathy's recent momentum, this investment will further deepen capabilities, accelerate innovation, scale the platform offerings, and expand reach. Article content 'We're honored to support millions of families in their toughest times, and to have earned the trust of leading organizations, partnering with major financial institutions and some of the most progressive employers to deliver compassionate tech at scale,' said Ron Gura, Co-Founder & CEO of Empathy. 'We're proud to be at the forefront of revolutionizing industry standards and societal expectations around loss, and this milestone is not just a testament to Empathy's progress, but to the larger cultural shift that's occurring. Throughout life, we all will encounter moments that are financially, logistically, and emotionally taxing, and we see it as a privilege and responsibility to apply our expertise and direct meaningful resources toward tackling these challenges and raising the standard of support.' Article content 'Empathy is addressing a critical need with a thoughtful, mission-driven approach to supporting families through life's challenging moments,' said Tom Bremner, Partner, Growth Equity at Adams Street. 'We're excited to partner with the Empathy team and support the company's continued growth as it expands access to essential resources through innovation and industry-leading partnerships.' Article content Empathy is currently available throughout North America, including every U.S. state and Canada, in partnership with leading firms, including eight of the top ten U.S. life insurers. The company also supports comprehensive employee bereavement benefits for Fortune 500 companies. Empathy continues to raise awareness of societal attitudes around loss and to address the stigma around the conversation. Last month, the company released its fourth annual research report on the Grief Tax, which uncovered the cost of loss, not just in dollars and time, but also its impacts on health, relationships, and careers. The new data revealed a gap in current support and benefits, as well as the collective understanding of the compounding effects grief can have within society. Article content Fueled by the momentum of recent growth and deep insight into what's been demonstrated as a universal and apparent need, Empathy is committed to expanding its support ecosystem to encompass more modes of care that will open up access and support families during life's most difficult moments. Article content Empathy is a leading technology company transforming the way people plan for and navigate life's toughest moments. Serving more than 45 million policyholders across North America with loss support, Empathy currently partners with eight of the top ten U.S. life insurance carriers and handles one in five life insurance claims in the U.S. beyond the payout. With $162 million in funding from top-tier venture firms including Index Ventures, General Catalyst, Adams Street Partners, and other leading funds, as well as strategic investment from global financial institutions and Empathy Alliance partners, Empathy combines cutting-edge innovation with compassion to provide unparalleled support for bereavement, estate management, legacy planning, and more. Recognized by Apple, Google Play, and Fast Company, Empathy is setting the standard for modern family care and workplace benefits. Learn more at Article content The Empathy Alliance is a coalition of organizations, thought leaders, and practitioners seeking to advance the future of compassionate technology. Led by Empathy and together with strategic partners, including investors from the Series C, the Alliance will guide innovation that reimagines standards of and access to support during life's most challenging moments, helping to foster greater societal readiness and resilience. The Alliance is comprised of executives and investors across some of the most notable insurance and financial institutions including Aflac Ventures, Allianz Life Ventures, Citi Impact Fund, MassMutual, MetLife, Munich Re, New York Life, Securian, Sumitomo Life, and TIAA Ventures. To learn more, visit Article content Article content Article content Article content Article content
Business Wire
12-05-2025
- Business
- Business Wire
Adams Street Announces Final Close of Oversubscribed European Venture Fund
LONDON--(BUSINESS WIRE)-- Adams Street Partners, LLC, a leading private markets investment firm with over $62 billion in assets under management, today announced the final close of its oversubscribed European Venture Fund (the 'Fund'). Driven by strong investor demand for Europe's dynamic venture ecosystem, the Fund secured more than €270 million in capital commitments, significantly exceeding its fundraising target. The Fund will leverage Adams Street's global investment platform to strategically target exposure to some of the most innovative and disruptive companies within the region with the goal of driving outsized outcomes. It will pursue a disciplined strategy focused on both primary commitments and direct investments in venture-backed companies. A substantial share of the Fund will be allocated to early-stage opportunities with a particular focus on those advancing technology and healthcare solutions. This milestone builds on Adams Street's 25-year track record of venture investing in the region and reflects the continued strength of the firm's venture capital franchise. It also follows the $1.2 billion close of the firm's oversubscribed Venture Innovation Fund IV Program last year. 'Our selective strategy and long-standing presence in the venture ecosystem have fostered deep, multi-decade relationships with top venture managers worldwide. Combined with our historical performance and team expertise, we are proud that we have been able to offer our LPs differentiated access to opportunities within the next generation of high-growth companies,' said Brijesh Jeevarathnam, Partner & Global Head of Fund Investments at Adams Street. 'We believe there is a compelling opportunity in European venture capital as it helps drive the digital transformation of the global economy. In these times of dislocation and change, the growing appetite for a dedicated and disciplined strategy is reflected in the continued confidence of our investors,' said Ross Morrison, Partner, Primary Investments at Adams Street. 'We are excited to deploy this capital into compelling opportunities across the European venture landscape.' About Adams Street Partners Adams Street Partners is a global private markets investment manager with investments in more than 30 countries across five continents. The firm is 100% employee-owned and has $62 billion in assets under management across primary, secondary, growth equity, credit, and co-investment strategies. Adams Street strives to generate actionable investment insights across market cycles by drawing on over 50 years of private markets experience, proprietary intelligence, and trusted relationships. Adams Street has offices in Austin, Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, Sydney, Tokyo, and Toronto. Visit This information is not investment advice or an offer or sale of any security or investment product or investment advice. Offerings are made only pursuant to a private offering memorandum containing important information. Statements are made as of the date of this release, and there is no implication that the information contained herein is correct as of any time subsequent to such date. References herein to specific sectors, strategies, or investments are not to be considered a recommendation or solicitation for any such sector, strategy, or investment. Past performance is not a guarantee of future results. Projections or forward-looking statements contained in the Paper are only estimates and there can be no assurance that the results set forth in the projections or the events predicted will be attained, and actual results may be significantly different from the projections. Also, general economic factors, which are not predictable, can have a material impact on the reliability of projections or forward-looking statements. Adams Street Partners, LLC is a US investment adviser governed by applicable US laws, which differ from laws in other jurisdictions.
Yahoo
14-04-2025
- Business
- Yahoo
Adams Street's 2025 Advisor Outlook Highlights Rising Demand for Access to Private Markets
Shift towards private markets accelerates as wealthy individuals seek diversified investment opportunities CHICAGO, April 14, 2025--(BUSINESS WIRE)--Adams Street Partners, LLC, a leading private markets investment firm with more than $62 billion in assets under management, today released its inaugural Advisor Outlook. Titled "The Rise of Private Wealth in Private Markets," the report presents insights from over 100 financial advisors across North America, Europe, and Asia. Respondents cite growing client demand for private market exposure, with 92% expecting the asset class to outperform public markets over the long term. In turn, more than two-thirds (67%) anticipate an increase in the percentage of clients with an allocation to the asset class over the next three years. "Private markets are becoming an essential part of a well-diversified portfolio, and financial advisors are on the front lines of this shift," said Jim Walker, Partner & Global Head of Wealth at Adams Street. "Adams Street is focused on equipping advisors with access to institutional-quality origination, education, and a range of structures to help meet client goals. As an employee-owned firm with significant assets invested alongside our clients, we are deeply aligned with those we serve." While complexity, limited access, and tax reporting preferences have historically limited private market participation, advisors report meaningful progress in addressing those barriers. Structures such as semi-liquid evergreen funds and digital platforms, along with an increasingly favorable regulatory environment are expanding the reach of private investments. As a result, the wealth management market has emerged as a significant and fast-growing source of private markets capital. Individual investors account for about $2.7 trillion, or one-fifth, of the $14 trillion in private market assets under management, according to Morgan Stanley.1 This is projected to rise to 37% within five years, signaling a profound shift in capital flows and a growing democratization of private markets investing. "Individual investors are playing an increasingly vital role in the evolution of private markets," said Jeffrey Diehl, Managing Partner & Head of Investments at Adams Street. "As access expands and product innovation accelerates, we see a meaningful opportunity to deliver differentiated returns through high-quality private equity and private credit investments—strategies traditionally reserved for institutional portfolios. Our proprietary insights and longstanding relationships have historically helped us to identify and access many companies that were able to serially compound revenue and profit growth to drive long-term outperformance in private markets." Key findings from the Advisor Outlook include: Client Momentum: More than 65% of FAs stated that at least 10% of their clients currently had private market investments and two-thirds (67%) of FAs expect that proportion to increase over the next three years, with nearly 7% predicting that the percentage of clients with alternative holdings will increase by more than 20%, reflecting growing familiarity and deeper engagement with alternative strategies. Product Innovation: Evergreen structures are gaining traction, with 44% of advisors preferring them to traditional closed-end funds (37%). Over half cite broader client access as a primary benefit of these vehicles. Education Gap: 69% of advisors say the complexity of private markets makes it difficult to communicate effectively with clients. Less than half (49%) rate their own expertise as "advanced"—while client understanding trails, with just 32% of advisors reporting that their clients have "advanced knowledge". Investment Priorities: Technology is seen as a key investment sector in 2025 for 58% of advisors, followed by financial services (42%). North America-based advisors report that clients prioritize wealth preservation and tax efficiency, while those in Europe emphasize access to new investment opportunities. In Asia, advisors highlight private markets' ability to drive income and diversification. AI Outlook: Advisors expect artificial intelligence to transform how they engage with clients, predicting enhancements in risk management (52%), market forecasting (48%), and operational efficiency (48%). To read the 2025 Advisor Outlook, please visit Adams Street Private Wealth Solutions Adams Street Partners provides wealth managers and financial advisors access to private markets knowledge and investment solutions designed to help their clients grow and protect wealth. The firm was founded over 50 years ago and manages over $62 billion for clients across private equity and venture capital funds, secondary, growth equity, buyout and venture co-investments, and private credit strategies. Adams Street has offices in Austin, Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, Sydney, Tokyo, and Toronto. Visit Important Considerations: This information (the "Paper") is provided for educational purposes only and is not investment advice or an offer or sale of any security or investment product or investment advice. Offerings are made only pursuant to a private offering memorandum containing important information. Statements in this Paper are made as of the date of this Paper unless stated otherwise, and there is no implication that the information contained herein is correct as of any time subsequent to such date. All information has been obtained from sources believed to be reliable and current, but accuracy cannot be guaranteed. References herein to specific sectors, general partners, companies, or investments are not to be considered a recommendation or solicitation for any such sector, general partner, company, or investment. This Paper is not intended to be relied upon as investment advice as the investment situation of individuals is highly dependent on circumstances, which necessarily differ and are subject to change. The contents herein are not to be construed as legal, business, or tax advice, and individuals should consult their own attorney, business advisor, and tax advisor as to legal, business, and tax advice. Past performance is not a guarantee of future results and there can be no guarantee against a loss, including a complete loss, of capital. Certain information contained herein constitutes "forward-looking statements" that may be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "anticipate," "estimate," "intend," "continue," or "believe" or the negatives thereof or other variations thereon or comparable terminology. Any forward-looking statements included herein are based on Adams Street's current opinions, assumptions, expectations, beliefs, intentions, estimates or strategies regarding future events, are subject to risks and uncertainties, and are provided for informational purposes only. Actual and future results and trends could differ materially, positively or negatively, from those described or contemplated in such forward-looking statements. Moreover, actual events are difficult to project and often depend upon factors that are beyond the control of Adams Street. No forward-looking statements contained herein constitute a guarantee, promise, projection, forecast or prediction of, or representation as to, the future and actual events may differ materially. Adams Street neither (i) assumes responsibility for the accuracy or completeness of any forward-looking statements, nor (ii) undertakes any obligation to update or revise any forward-looking statements for any reason after the date hereof. Also, general economic factors, which are not predictable, can have a material impact on the reliability of projections or forward-looking statements. Adams Street Partners, LLC is a US investment adviser governed by applicable US laws, which differ from laws in other jurisdictions. 1 Morgan Stanley, "Accessing the $70Tr Private Wealth TAM", November 2024 View source version on Contacts Media Inquiries Rich Myers / Rachel GounProfile Advisors+1 347 343 2999adamsstreet@ Sign in to access your portfolio
Yahoo
24-03-2025
- Business
- Yahoo
Adams Street Partners' 2025 Global Investor Survey Signals Optimism for Private Markets
Pent-up demand, AI-driven innovation, and policy shifts create strategic opportunities for investors CHICAGO, March 24, 2025--(BUSINESS WIRE)--Adams Street Partners, LLC, a leading private markets investment management firm, today released its 2025 Global Investor Survey, highlighting optimism among institutional investors and financial advisors regarding private markets. The report captures key insights from global investors, revealing expectations for increased dealmaking, liquidity, and capital deployment in the coming year. After a period of subdued exit activity and fundraising, respondents believe that private markets are poised for recovery, fueled by pent-up demand for liquidity and an evolving macroeconomic environment. Nearly half (47%) of survey respondents ranked technology and healthcare as the most attractive sectors for private market investments in 2025, while AI-driven innovation is emerging as a critical factor in accelerating capital flows and productivity gains. Market Conditions Favor Private Markets Growth"The continued confidence of investors in private markets demonstrates the resilience and adaptability of the asset class," said Jeff Diehl, Managing Partner & Head of Investments at Adams Street. "As regulatory pressures ease, capital flows strengthen, and AI-driven innovation accelerates, we see a promising investment climate for managers around the world who are well-positioned to identify, access, win, and add value to companies that can serially compound their revenue and value." According to the survey, investors increasingly view private markets as a long-term outperformer relative to public markets, citing advantages such as lower volatility, superior governance structures, and stronger alignment between shareholders and executives. 85% of limited partners (LPs) expect private markets to deliver higher returns than public markets over the next decade, despite the strong performance of public equities in recent years. Key Findings from the 2025 Global Investor Survey: Dealmaking Revival: Private equity and venture capital deal activity rebounded 25% in 2024,1 signaling momentum for increased transactions in 2025. AI-Driven Growth: Venture capital investment in AI startups surged to $131.5 billion, accounting for 36% of all global venture capital dollars in 2024.2 Geopolitical Considerations: Investors highlight US-China tensions (54%), the Ukraine-Russia war (53%), and US political instability (37%) as top concerns influencing capital allocation. Secondaries Spotlight: Two out of five investors note selling assets into the secondaries market as a top consideration, with continuation vehicles increasingly viewed as a valuable tool. Trusted Partnerships: Established relationships remain a top priority, with two-thirds of institutional investors planning to raise commitments with existing managers in 2025. Unlocking Liquidity and Fundraising PotentialSubdued exit activity has weighed on fundraising in recent years, but survey respondents express growing confidence that an increase in dealmaking and liquidity will catalyze new capital commitments. Co-investments, secondaries, and private credit strategies are viewed by respondents as attractive avenues for deploying capital efficiently in a shifting macroeconomic landscape. "Private market investors are navigating an environment filled with both challenges and opportunities," said Jeffrey Akers, Partner & Head of Secondary Investments at Adams Street. "Amid ongoing volatility, targeted private markets strategies can provide investors with a number of attractive benefits, such as enhanced diversification while still providing a range of options, such as with respect to liquidity, seniority within the capital structure, and targeted risk-return profiles." If liquidity improves and the backlog of exit activity begins to clear, it is anticipated that private markets could exceed $20 trillion in assets under management by 2030, up from $13 trillion today.3 The firm remains committed to identifying differentiated investment opportunities that align with its investors' long-term objectives. The report, "2025 Global Investor Survey: Navigating Private Markets," surveyed 100 institutional investors in the US, Europe, and APAC. They were surveyed on a variety of topics over six weeks leading into 2025. To read the full report, please visit About Adams Street PartnersAdams Street Partners is a global private markets investment manager with investments in more than 30 countries across five continents. The firm is 100% employee-owned and has $62 billion in assets under management across primary, secondary, growth equity, credit, and co-investment strategies. Adams Street strives to generate actionable investment insights across market cycles by drawing on over 50 years of private markets experience, proprietary intelligence, and trusted relationships. Adams Street has offices in Austin, Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, Sydney, Tokyo, and Toronto. Visit Important Considerations: This information (the "Paper") is provided for educational purposes only and is not investment advice or an offer or sale of any security or investment product or investment advice. Offerings are made only pursuant to a private offering memorandum containing important information. Statements in this Paper are made as of the date of this Paper unless stated otherwise, and there is no implication that the information contained herein is correct as of any time subsequent to such date. All information has been obtained from sources believed to be reliable and current, but accuracy cannot be guaranteed. References herein to specific sectors, general partners, companies, or investments are not to be considered a recommendation or solicitation for any such sector, general partner, company, or investment. This Paper is not intended to be relied upon as investment advice as the investment situation of individuals is highly dependent on circumstances, which necessarily differ and are subject to change. The contents herein are not to be construed as legal, business, or tax advice, and individuals should consult their own attorney, business advisor, and tax advisor as to legal, business, and tax advice. Past performance is not a guarantee of future results and there can be no guarantee against a loss, including a complete loss, of capital. Certain information contained herein constitutes "forward-looking statements" that may be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "anticipate," "estimate," "intend," "continue," or "believe" or the negatives thereof or other variations thereon or comparable terminology. Any forward-looking statements included herein are based on Adams Street's current opinions, assumptions, expectations, beliefs, intentions, estimates or strategies regarding future events, are subject to risks and uncertainties, and are provided for informational purposes only. Actual and future results and trends could differ materially, positively or negatively, from those described or contemplated in such forward-looking statements. Moreover, actual events are difficult to project and often depend upon factors that are beyond the control of Adams Street. No forward-looking statements contained herein constitute a guarantee, promise, projection, forecast or prediction of, or representation as to, the future and actual events may differ materially. Adams Street neither (i) assumes responsibility for the accuracy or completeness of any forward-looking statements, nor (ii) undertakes any obligation to update or revise any forward-looking statements for any reason after the date hereof. Also, general economic factors, which are not predictable, can have a material impact on the reliability of projections or forward-looking statements. Adams Street Partners, LLC is a US investment adviser governed by applicable US laws, which differ from laws in other jurisdictions. 1 S&P Global Market Intelligence Private equity, venture capital deal value jumps 25% in 2024, January 14, 20252 PitchBook, AI startups grabbed a third of global VC dollars in 2024, January 9, 20253 Preqin 2025 Private Markets Outlook, September 18, 2024, Page 3 View source version on Contacts Media Inquiries Rich Myers / Rachel GounProfile Advisors+1 347 343 2999adamsstreet@ Sign in to access your portfolio
