Fund profile / United States

StepStone Secondary Opportunities Fund V L.P

Geography: United States
Stage: Seed
Fund size: $7400M
Focus: SaaS
Signals: Published

N°01 / About

About StepStone Secondary Opportunities Fund V L.P

StepStone Secondary Opportunities Fund V L.P is a venture capital firm based in United States, focusing on Seed stage investments. The fund actively supports founders building innovative solutions in SaaS, providing strategic guidance and capital to help startups scale.

N°02 / Thesis

Investment Focus

Location / RegionUnited States

Funding StageSeed

Industry Focus

SaaS

Investor Signals Profile

active

Sweet Spot

High-quality asset operators seeking strategic growth capital

private credit

infrastructure

data centers

power financing

real assets

PE secondaries

GP-led transactions

operational improvement

healthcare services

China PE

AI/deep tech

value creation

Bullish Signals

Active in data center capital marketsexternal

Private credit + infra expanding fastexternal

StepStone: AI accelerates VC power-law outcomeslinkedin

Thesis: consistent exposure + top manager accesslinkedin

H1 2026: strong secondaries & GP-led momentumlinkedin

200+ investors at UK conference; growing LP demandlinkedin

Lead investor: US Fertility continuation vehiclelinkedin

China PE 3.0: control & cashflow strategy focuslinkedin

Expanding into Asia PE-VC alongside traditional marketslinkedin

Contrarian Signals

LP-focused, not direct founder backerexternal

Returns dispersing; winner concentration risinglinkedin

Few category leaders capture most valuelinkedin

Premature exits losing favor; longer holds requiredlinkedin

Founder Do's

Show strong asset quality & proven ops

Align on longer hold for value creation

Build LP transparency & stakeholder engagement

Leverage StepStone's access & relationships

Demonstrate conviction in asset retention strategy

Founder Don'ts

Plan premature exits; continuity preferred

Expect quick capital calls; focused scaling wins

Ignore operational improvement expectations

24 signals on StepStone Secondary Opportunities Fund V L.P

9 bullish · 4 contrarian · 5 pitch do's · 3 don'ts · 3 GP profiles, each with its source. From €9/month, cancel anytime.

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Facts

Fund Overview

Fund Size$7400M

Saves0

Website

People

Key People

Mark Maruszewski, John Kettnich

Aidan ThorntonVice President

Philippe FerneiniPartner

Vincent HsuPartner

N°04 / See also

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