Top 20 Venture Capital Advisory & Placement 2023

This report forms part of the Ranking News Capital Ranking series, which evaluates investment firms, capital platforms, advisory organizations, and infrastructure providers across the global venture capital ecosystem.

Venture capital advisory and placement firms have become central participants within the modern private capital ecosystem as venture managers increasingly compete for limited partner commitments across a more selective fundraising environment. While venture capital firms are often evaluated by their investments in startups, the ability to raise institutional capital from pensions, sovereign wealth funds, endowments, foundations, family offices, insurers, and private wealth platforms has become an equally important determinant of platform durability.

Unlike venture capital firms that deploy capital directly into startups, advisory and placement firms support general partners in fundraising, investor relations, strategic positioning, secondary processes, continuation vehicles, co-investments, and broader capital formation. These firms frequently combine LP relationships, fund structuring knowledge, market intelligence, diligence preparation, and private capital distribution capabilities.

The increasing complexity of venture fundraising has elevated the strategic role of placement and advisory platforms. Emerging managers, sector-specialist venture firms, growth-stage managers, climate and deep-tech funds, venture secondaries, and established global platforms all face pressure to communicate differentiated strategies to institutional investors. Advisory firms capable of positioning venture managers credibly within crowded fundraising markets have become essential intermediaries within the venture capital ecosystem.

This ranking identifies venture capital advisory and placement firms whose platforms demonstrate sustained relevance in venture fund formation, private capital fundraising, LP coverage, and strategic capital advisory. Rather than focusing exclusively on transaction volume, the objective is to recognize organizations whose advisory and placement capabilities maintain structural importance within the global venture capital ecosystem.

Market Overview

The venture capital advisory and placement sector continues to grow in importance as fundraising conditions become more demanding. Following the valuation reset and liquidity slowdown that affected private markets after the 2020–2021 boom, many limited partners have become more selective in committing to new venture funds. Distributions have slowed, portfolio revaluations have increased scrutiny, and LPs increasingly prioritize managers with clear differentiation, disciplined strategy, and credible pathways to liquidity.

Advisory and placement firms frequently act as coordinators of a venture manager’s capital formation strategy. In addition to arranging introductions to institutional investors, these firms often help managers refine fund narratives, prepare diligence materials, benchmark terms, structure co-investment opportunities, manage data rooms, organize roadshows, and navigate investor feedback. For venture managers without large internal investor relations teams, this support can be central to successful fundraising.

The expansion of private markets has further increased the importance of specialized fundraising advice. Venture capital now includes seed, early-stage, growth, deep tech, AI, climate, biotech, secondaries, and venture debt strategies. Each strategy requires a different LP audience and different evidence of repeatability. Placement firms with broad LP networks and category-specific knowledge are well positioned to help venture managers reach the right capital base.

At the same time, the advisory market remains competitive and relationship-driven. Large investment banks maintain private capital advisory groups, while independent placement agents and specialist advisory firms compete through senior relationships, sector focus, geographic coverage, and credibility with institutional investors. Within this environment, firms with durable LP access, strong execution discipline, and private capital specialization remain influential participants within venture capital fundraising markets.

Within this market, venture capital advisory and placement firms that combine institutional LP relationships, private capital market knowledge, strategic positioning capability, and fundraising execution support continue to occupy an important role in the evolving architecture of global venture capital.

Industry Trend — 2023

The venture capital advisory and placement industry in 2023 reflects a period of adjustment following several years of slower distributions, extended holding periods, and more selective limited partner commitment activity. Venture managers seeking new funds face a more demanding LP environment, where capital is increasingly concentrated among established franchises, differentiated specialists, and managers with credible evidence of disciplined portfolio construction.

Artificial intelligence has become a major fundraising theme, but LPs are increasingly cautious about undifferentiated AI exposure. Venture advisory firms are helping managers articulate whether their AI strategies are based on infrastructure, applications, vertical software, data advantage, compute access, enterprise adoption, or deep technical sourcing. This has increased the importance of narrative precision and institutional-quality diligence materials.

Secondary liquidity and continuation structures are also reshaping venture capital advisory work. As exit markets remain uneven, venture managers increasingly require advice on portfolio liquidity, GP-led transactions, tender offers, strip sales, and LP communication strategies. Placement and advisory firms with both fundraising and secondary advisory capabilities are increasingly advantaged.

Geographic diversification is another important trend. Venture managers in Europe, Asia, the Middle East, and emerging markets are seeking access to global LP pools, while institutional investors are reassessing exposure to U.S.-centric venture capital relative to regional innovation ecosystems. Advisory firms with cross-border distribution capabilities are well positioned in this environment.

As the industry evolves, venture capital advisory and placement firms with strong LP coverage, private capital credibility, sector-specific fundraising knowledge, and integrated advisory capabilities remain well positioned to serve venture managers navigating a more institutionalized fundraising market.

Methodology — Core Eligibility Criteria

To ensure structural consistency within the category, firms considered for this ranking were evaluated based on the following eligibility conditions:

• Operates primarily as a private capital advisory, fund placement, or capital formation organization
• Maintains demonstrated relevance in venture capital, growth equity, technology funds, or innovation-driven private capital fundraising
• Provides LP coverage, fundraising strategy, fund positioning, secondary advisory, or strategic capital advisory services
• Demonstrates sustained engagement with general partners, limited partners, institutional investors, and private capital markets
• Maintains an established reputation among fund managers, LPs, private capital professionals, and venture ecosystem participants

Venture capital firms, corporate venture arms, accelerators, venture debt providers, fund administrators, law firms, and organizations whose primary activities involve startup investment rather than fund placement or advisory services are generally excluded.

Methodology — Ranking Factors

Firms included in the ranking were evaluated using a combination of qualitative and structural considerations rather than short-term fundraising volume alone. Key factors considered include:

• Strength of private capital placement and LP coverage platform
• Relevance to venture capital, growth equity, technology, and innovation-focused fundraising
• Quality of fund positioning, diligence preparation, and capital formation advisory
• Breadth of institutional investor relationships across geographies
• Ability to support primary fundraises, co-investments, secondaries, and strategic GP advisory
• Reputation among general partners, limited partners, and private capital professionals
• Stability and longevity of the advisory platform across market cycles

The objective of the ranking is to identify firms whose advisory and placement platforms maintain sustained relevance within the global venture capital ecosystem.

The Capital Ranking Top 20 Venture Capital Advisory & Placement 2023 ranking evaluates private capital advisory and placement firms supporting venture capital managers, growth equity platforms, technology investors, and innovation-focused private capital strategies.

The ranking universe consisted of approximately 70 private capital advisory and placement firms globally, from which 20 institutions were selected for inclusion.

Tier classifications reflect relative institutional positioning within the venture capital advisory and placement segment and do not represent performance rankings or investment recommendations.

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Tier I — Leading Venture Capital Advisory & Placement Platforms

Campbell Lutyens

• Headquarters: London, United Kingdom
• Founded: 1988

Campbell Lutyens is one of the most established independent private capital advisory firms globally, with a platform spanning fund placement, secondary advisory, and GP capital advisory. The firm’s relevance to venture capital advisory comes from its broad institutional LP relationships, global distribution network, and experience supporting private capital managers across strategies, including venture, growth equity, infrastructure, private equity, and credit. Its independent positioning gives it credibility with managers seeking senior advisory attention rather than a bank-led capital markets process.

The firm’s strength lies in combining fundraising execution with broader private capital market intelligence. Venture managers increasingly need more than LP introductions; they require strategic positioning, investor segmentation, diligence preparation, and advice on market timing. Campbell Lutyens’ ability to support primary fundraising while also advising on secondaries and GP-level capital solutions is especially valuable in the current environment, where venture managers face slower distributions and more complex liquidity requirements.

In the 2023 market, the firm remains highly relevant because LPs are more selective and managers must present differentiated strategies with institutional clarity. Campbell Lutyens’ global footprint, senior advisory culture, and long-standing private capital reputation support its Tier I position in this ranking.

Evercore Private Capital Advisory

• Headquarters: New York / London / global platform, United States
• Founded: 1995

Evercore Private Capital Advisory is one of the leading private capital advisory platforms attached to a major independent investment bank. The group provides fund placement, secondary advisory, and broader private capital solutions across private equity, growth equity, venture capital, infrastructure, real assets, and credit strategies. Its strength comes from combining institutional advisory credibility with deep access to LPs, GPs, financial sponsors, and strategic capital providers.

For venture and growth managers, Evercore’s platform is particularly relevant because fundraising has become more institutionalized and diligence-heavy. Managers raising technology, growth, AI, healthcare, climate, or venture secondaries funds often need sophisticated positioning, data-supported portfolio analysis, and access to global LP audiences. Evercore’s advisory infrastructure helps managers navigate these requirements while also linking fundraising strategy with broader liquidity and secondary market considerations.

In 2023, the boundary between fundraising, secondaries, continuation vehicles, and GP strategic advisory is increasingly blurred. Evercore’s ability to operate across these areas gives it a strong position within venture capital advisory and placement. Its brand strength, institutional investor access, and broad private capital advisory capabilities support its classification as a Tier I platform.

PJT Park Hill

• Headquarters: New York, United States
• Founded: 2005

PJT Park Hill is one of the most recognized private capital placement and advisory platforms globally. Originating from Park Hill Group and now operating within PJT Partners, the firm has long been associated with fundraising for private equity, growth equity, venture capital, hedge funds, real estate, credit, and other alternative investment strategies. Its brand remains closely linked to institutional capital formation and LP access.

The firm’s relevance to venture capital advisory comes from its ability to support managers seeking large-scale institutional commitments in competitive fundraising environments. Venture and growth equity firms increasingly compete not only on investment performance but also on platform maturity, reporting discipline, team stability, sector differentiation, and LP communication. PJT Park Hill’s experience with sophisticated institutional investors allows it to help managers frame their strategies in ways that resonate with pensions, endowments, sovereign wealth funds, insurance companies, consultants, and family office networks.

Within the 2023 market, PJT Park Hill remains important because LP selection has become more concentrated and relationship-driven. Its long-standing reputation, placement expertise, and position within a broader advisory firm support its Tier I classification in venture capital advisory and placement.

Lazard Private Capital Advisory

• Headquarters: New York / London / global platform, United States
• Founded: 1848

Lazard Private Capital Advisory is a major global advisory platform supporting fund placement, secondary advisory, co-investments, GP capital solutions, and broader private capital fundraising. While Lazard is best known as a global financial advisory firm, its private capital advisory capabilities have become increasingly relevant as private markets expand and managers require more sophisticated access to institutional capital.

The firm’s strength lies in combining private capital fundraising with Lazard’s broader strategic advisory credibility. For venture capital and growth managers, this can be valuable when fundraising narratives intersect with sector consolidation, secondary liquidity, continuation structures, or strategic GP-level decisions. Venture managers are increasingly expected to present institutional-grade materials, clear portfolio construction logic, and credible liquidity pathways. Lazard’s advisory culture and global network support these requirements.

In the 2023 environment, venture fundraising is no longer driven solely by brand momentum or prior fund performance. LPs demand clearer strategy, stronger reporting, and better alignment. Lazard Private Capital Advisory’s institutional reputation, global reach, and ability to support both fundraising and secondary solutions make it one of the leading platforms in this category.

Rede Partners

• Headquarters: London / New York, United Kingdom / United States
• Founded: 2011

Rede Partners is a leading independent fundraising advisory firm with a strong reputation in private capital placement and strategic fundraising support. The firm advises general partners across private equity, growth, venture, infrastructure, and related private markets strategies, with particular strength in fund positioning, LP targeting, capital formation strategy, and investor communication.

Rede’s relevance to venture capital advisory comes from its focused advisory model and senior relationship-driven approach. In a more selective fundraising environment, venture and growth managers need precise narratives, disciplined LP segmentation, and credible evidence of repeatable investment strategy. Rede’s platform is well suited to managers that require thoughtful positioning rather than simply broad distribution. Its independence also gives it flexibility in advising managers across strategy, market timing, and investor engagement.

In 2023, the demand for high-quality fundraising advice remains strong as LPs concentrate capital among differentiated managers and become more cautious toward undisciplined venture exposure. Rede Partners’ reputation, cross-border LP access, and strategic advisory orientation support its Tier I position. The firm is particularly well aligned with venture and growth managers seeking institutional capital from sophisticated global investors.

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Tier II — Established Venture Capital Advisory & Placement Firms

(Alphabetical order)

Asante Capital Group

• Headquarters: London / New York / Hong Kong, United Kingdom
• Founded: 2010

Asante Capital Group is an independent private capital placement and advisory firm with a global footprint across London, New York, and Hong Kong. The firm advises private capital managers across strategies including private equity, growth equity, venture capital, infrastructure, credit, and real assets. Its cross-border distribution capabilities make it relevant to venture and growth managers seeking access to a diversified institutional investor base.

Asante’s strength lies in its ability to combine fundraising execution with strategic positioning and LP coverage across multiple regions. Venture managers raising in a cautious LP environment must increasingly demonstrate portfolio discipline, differentiated sourcing, and clear alignment between fund size and opportunity set. Asante’s advisory model can help managers refine these messages and reach investors whose mandates fit the strategy. The firm is ranked in Tier II because it has a strong independent platform and international reach, though it does not carry the same market-dominant recognition as the largest global placement groups.

Aviditi Advisors

• Headquarters: New York, United States
• Founded: 2021

Aviditi Advisors is a private capital advisory and placement firm formed by experienced professionals from the alternative investment and capital formation markets. The firm supports private equity, growth equity, venture capital, credit, real assets, and other private market managers through fundraising advisory, LP engagement, secondary advisory, and strategic capital solutions.

Aviditi’s relevance comes from its modern, integrated approach to private capital advisory. Newer advisory platforms can be well positioned in a market where fundraising, secondaries, co-investments, and GP strategic solutions increasingly overlap. Venture managers seeking capital in 2023 often require more flexible advisory support than a traditional fund placement mandate alone. Aviditi is included in Tier II because it has built visibility in the private capital advisory market and is relevant to managers navigating a more complex fundraising environment. Its relative youth prevents Tier I placement, but its capabilities and positioning make it a credible established advisory firm.

Eaton Partners

• Headquarters: Rowayton / New York, United States
• Founded: 1983

Eaton Partners is one of the long-standing names in private capital placement and is now part of Stifel Financial. The firm has advised on fundraises across private equity, venture capital, growth equity, real assets, hedge funds, private credit, and other alternative investment strategies. Its longevity and institutional LP relationships make it an important participant in the advisory and placement market.

For venture capital managers, Eaton Partners offers access to a broad capital base and experience across multiple alternative investment strategies. This is increasingly relevant as LPs compare venture commitments with private equity, credit, secondaries, infrastructure, and real assets allocations. Managers need placement advisors who can position venture strategies within the broader institutional portfolio context. Eaton’s long operating history, placement experience, and connection to a larger financial services platform support its Tier II inclusion. The firm remains a recognized name, though the competitive landscape has become more crowded and specialized.

Greenstone Equity Partners

• Headquarters: Dubai, United Arab Emirates
• Founded: 2011

Greenstone Equity Partners is a private capital placement and advisory firm with a strong position in the Gulf region. The firm connects alternative investment managers with institutional investors, family offices, and private wealth channels across the Middle East. Its regional specialization gives it a differentiated role within the global placement market, particularly as Gulf capital becomes increasingly important to private market fundraising.

Greenstone is relevant to venture capital advisory because many venture and growth managers now seek exposure to Middle Eastern LPs, sovereign-linked investors, family offices, and regional strategic capital. The Gulf has become a more important source of capital for technology, AI, infrastructure, and private market strategies. Greenstone’s local relationships and regional market knowledge can help managers navigate investor expectations, regulatory considerations, and relationship-based fundraising dynamics. It is ranked in Tier II because its geographic specialization is highly valuable, although its platform is more regionally focused than the broadest global placement firms.

Jefferies Private Capital Advisory

• Headquarters: New York / London / global platform, United States
• Founded: 1962

Jefferies Private Capital Advisory operates within Jefferies’ broader investment banking and capital markets platform, providing fundraising and advisory services across private equity, growth equity, credit, real assets, and related private market strategies. The firm benefits from Jefferies’ strong middle-market and growth company relationships, as well as its broader capital markets franchise.

For venture and growth managers, Jefferies’ platform can be useful where fundraising intersects with technology sector knowledge, sponsor relationships, secondary solutions, or broader capital markets advice. As growth companies remain private longer and managers require both LP capital and liquidity solutions, advisory platforms attached to investment banks can provide useful integration. Jefferies is ranked in Tier II because its private capital advisory capabilities are meaningful and globally relevant, though the platform competes with several larger or more specialized placement groups. Its brand strength and capital markets connectivity support its inclusion in this ranking.

Monument Group

• Headquarters: Boston / London / Hong Kong, United States
• Founded: 1994

Monument Group is an independent private capital placement agent with a long history advising alternative investment managers across private equity, venture capital, growth equity, credit, real assets, and related strategies. The firm’s global presence and institutional LP relationships make it a recognized name in the private fund placement market.

Monument’s relevance to venture capital advisory comes from its experience helping managers communicate strategy, access LPs, and execute fundraises in competitive environments. Venture managers increasingly need advisors who understand both the fundraising cycle and the broader institutional allocation process. Monument’s independent structure and long operating history provide credibility with managers seeking focused senior attention. In 2023, fundraising remains difficult for many venture firms outside the most established franchises, making experienced placement support valuable. Monument is included in Tier II because of its longevity, global footprint, and relevance across private capital strategies, including venture and growth equity.

Probitas Partners

• Headquarters: San Francisco, United States
• Founded: 2001

Probitas Partners is an independent placement agent and alternative investment advisory firm with experience across private equity, venture capital, real assets, credit, and other private market strategies. Based in San Francisco, the firm has particular relevance to technology-oriented managers and West Coast venture and growth ecosystems.

Probitas’ strength lies in its independent advisory model and familiarity with private capital managers seeking institutional LP access. Venture capital fundraising often requires careful positioning around team history, portfolio construction, fund size discipline, unrealized value, and exposure to high-growth sectors. Probitas can support these needs through fund placement, strategic advisory, and LP outreach. Its San Francisco location also gives it proximity to venture managers and technology investors. The firm is ranked in Tier II because it is a recognized independent platform with meaningful advisory capabilities, though it is smaller than the largest global placement firms.

UBS Private Funds Group

• Headquarters: New York / London / global platform, Switzerland
• Founded: 1998

UBS Private Funds Group is a major private capital placement and advisory platform operating within UBS. The group has historically been active across private equity, venture capital, growth equity, infrastructure, real estate, private credit, and other alternative investment strategies. UBS’s global wealth management and institutional relationships provide the platform with broad access to investor channels.

For venture capital managers, UBS Private Funds Group is relevant because fundraising increasingly involves both institutional LPs and private wealth channels. As individual investors, family offices, and wealth platforms become more important within private markets, advisory platforms connected to global wealth networks can offer strategic advantages. UBS’s ability to connect private capital managers with a broad investor base supports its inclusion in this ranking. It is placed in Tier II because the platform’s broad institutional structure may be less specialized than independent advisory boutiques, but its distribution reach and private capital credibility remain significant.

William Blair Private Capital Advisory

• Headquarters: Chicago / global platform, United States
• Founded: 1935

William Blair Private Capital Advisory operates within William Blair’s broader investment banking and asset management ecosystem, supporting private capital managers with fundraising, LP engagement, secondary advisory, and strategic capital solutions. The firm’s long-standing middle-market advisory reputation gives it relevance across growth companies, private equity sponsors, and alternative investment managers.

For venture and growth managers, William Blair can be relevant where capital formation intersects with technology, healthcare, financial services, and growth company ecosystems. Managers seeking institutional LP commitments increasingly need advisors who can translate differentiated investment strategies into credible fundraising narratives. William Blair’s advisory capabilities, investment banking relationships, and private capital orientation provide useful support in this process. The firm is ranked in Tier II because it has a credible private capital advisory platform and strong financial services brand, though it is not as dominant in global placement as the largest Tier I firms.

XT Capital Partners

• Headquarters: London, United Kingdom
• Founded: 2009

XT Capital Partners is an independent private capital advisory and placement firm focused on supporting alternative investment managers with fundraising, investor relations, and strategic capital advisory. The firm works across private markets strategies and has relevance to venture, growth, private equity, credit, and real assets managers seeking institutional capital.

XT Capital Partners’ importance in this ranking comes from the role of specialist advisory firms in a more selective fundraising environment. Not every venture manager requires or can access the largest global placement platforms. Specialist advisors can provide more tailored support, focused LP targeting, and senior attention to managers with differentiated strategies. In 2023, this is particularly relevant for sector-focused venture funds, emerging growth managers, and European private capital platforms seeking broader LP access. XT Capital Partners is included in Tier II because it offers a credible independent advisory model, although its market profile is more specialized than the largest global firms.

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Tier III — Specialist Venture Capital Advisory & Placement Firms

(Alphabetical order)

• Atlantic-Pacific Capital
• Capstone Partners
• FIRSTavenue
• Mercury Capital Advisors
• M2O Private Fund Advisors

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Remarks

Venture capital advisory and placement firms continue to play a critical role within the global venture capital ecosystem as managers seek institutional capital in a more selective fundraising environment. The firms recognized in this ranking represent organizations whose platforms maintain sustained engagement with general partners, limited partners, and private capital markets across multiple fund cycles.

The venture capital advisory and placement category is structurally different from early-stage venture capital, growth and crossover venture capital, corporate venture capital, accelerators, venture debt, and secondary liquidity platforms. While some firms included in this ranking may also advise on private equity, credit, infrastructure, real estate, or secondary transactions, their inclusion reflects meaningful relevance to venture capital and growth-oriented private market fundraising rather than general advisory activity alone.

Tier classification reflects relative institutional scale, LP coverage, private capital advisory platform maturity, venture and growth fundraising relevance, and engagement with the global capital formation ecosystem. The ranking does not constitute a performance evaluation or recommendation of advisory or placement services.

Organizations included in this ranking may request information regarding authorized use of the Ranking News designation for marketing and communications purposes.

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Organizations included in this ranking may request information regarding authorized use of the Ranking News designation for marketing and communications purposes.

Recognition

Organizations included in the Top 20 Venture Capital Advisory & Placement 2023 ranking may request information regarding authorized use of the Ranking News designation badge for marketing and communications purposes.

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