# Advent International: portfolio, investments and team

> Advent International is a private equity based in United States. 59 investments on record, 9 in the last 12 months, latest Oct 2026.

Source: https://millionrounds.com/fund/advent-international (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Advent International

Last cheque observed Oct 2026; 59 cheques on record.

Email

Deploying now New fund $26B, Jul 2026 Private equity

Seed Series A Series B Business & Financial Services Consumer Healthcare

Follow Advent International and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fadvent-international)

Deploying now

**100%** of best year **9** **cheques in 12 months**, 59 on record

Since the last cheque **3** days **00** hrs **00** min **00** sec

Median round **$740M** Rounds led **7 of 59** Sole investor **10 rounds** Exits **7 from the portfolio** Mostly in **United States, 76%**

Pitch Advent International

## Advent International highlights

- 01 9 cheques in the last 12 months
- 02 Mostly Venture and Series D: 52% of its rounds
- 03 Sole investor in 10 rounds, median $33M
- 04 7 exits from the portfolio

## What they do

> Advent is a leading global private equity investor From their own website

- **Type:** Private equity (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Seed Series A Series B Growth Pre-IPO
- **Sectors:** Business & Financial Services Consumer Healthcare
- **Based in:** Boston, United States
- **Cold pitches:** Not accepted

## The record

Every round we can evidence, newest first **59 appearances**

- **2026** 9 rounds
- **Oct** **[Firehawk Defense](https://millionrounds.com/company/firehawk-defense)** Series D · US · Google News search **$150M** *Led*
- **Oct** **[Vinci](https://millionrounds.com/company/vinci)** Series B · US · Firms' own news pages **$250M** *Led*
- **Sept** **[Mistral AI](https://millionrounds.com/company/mistral-ai)** Series D · FR · Samsung Catalyst Fund **$3.5B** With 23 others
- **Jul** **[Shield AI](https://millionrounds.com/company/shield-ai)** Series G · US · InnovationX **$1.5B** *Led*
- **Jul** **[Quantum Systems](https://millionrounds.com/company/quantum-systems)** Series D · DE · TechStartups **$1.2B** *Led*
- **Jun** **[Coralogix](https://millionrounds.com/company/coralogix)** Growth · US · TechCrunch **$200M** *Led*
- **Apr** **[KreditBee](https://millionrounds.com/company/kreditbee)** Series E · IN · TechStartups **$280M** With 8 others
- **Apr** **[Saronic](https://millionrounds.com/company/saronic)** Series D · US · Crunchbase News **$1.8B** With 6 others
- **Mar** **[Shield AI](https://millionrounds.com/company/shield-ai)** Growth · US · InnovationX **$2.0B** *Led*
- **2024** 1 round
- **Dec** **[Ayar Labs](https://millionrounds.com/company/ayar-labs)** Series D · US · Crunchbase News **$155M** *Led*
- **2014** 3 rounds
- **Oct** **[The Learning Lab](https://millionrounds.com/company/the-learning-lab)** SG **Undisclosed** Sole investor
- **May** **[Impliant](https://millionrounds.com/company/impliant)** Venture · US **$7.0M** With 4 others
- **Apr** **[FinancialForce.com](https://millionrounds.com/company/financialforce-com)** Growth · US **$50M** Sole investor
- **2013** 1 round
- **Oct** **[P2 Energy Solutions](https://millionrounds.com/company/p2-energy-solutions)** Growth · US · online.wsj.com **Undisclosed** Sole investor
- **2012** 2 rounds
- **Aug** **[AOT Bedding Super Holdings](https://millionrounds.com/company/aot-bedding-super-holdings)** finsmes.com **Undisclosed** Sole investor
- **Jun** **[Connolly](https://millionrounds.com/company/connolly)** US · finsmes.com **Undisclosed** Sole investor
- **2011** 1 round
- **Feb** **[Towergate](https://millionrounds.com/company/towergate)** Growth · GB · finsmes.com **$322M** Sole investor
- **2010** 1 round
- **Jun** **[Nereus Pharmaceuticals](https://millionrounds.com/company/nereus-pharmaceuticals)** Series E · US · onbiovc.com **$20M** With 6 others
- **2009** 1 round
- **Apr** **[FleetCor Technologies](https://millionrounds.com/company/fleetcor-technologies)** Series E · US · pehub.com **$100M** With 2 others
- **2008** 2 rounds
- **Jun** **[Upland Software](https://millionrounds.com/company/upland-software)** Venture · US · xconomy.com **$3.5M** With 2 others
- **Mar** **[LogMatrix](https://millionrounds.com/company/logmatrix)** Series D · US **Undisclosed** With 1 other
- **2007** 3 rounds
- **Aug** **[Nereus Pharmaceuticals](https://millionrounds.com/company/nereus-pharmaceuticals)** Series D · US **$45M** With 12 others
- **Apr** **[Sirion Therapeutics](https://millionrounds.com/company/sirion-therapeutics)** Series B · US **$45M** With 3 others
- **Jan** **[Mendocino Software](https://millionrounds.com/company/mendocino-software)** Venture · US **$1.7M** With 3 others
- **2006** 4 rounds
- **Dec** **[Ampla Pharmaceuticals](https://millionrounds.com/company/ampla-pharmaceuticals)** Series A · US **$5.5M** With 2 others
- **Dec** **[Accelergy](https://millionrounds.com/company/accelergy)** Series B · US **$8.3M** With 5 others
- **Feb** **[Enprise Solutions](https://millionrounds.com/company/enprise-solutions)** Venture · NZ · enprise.com **$1.0M** With 1 other
- **Jan** **[Airwide Solutions](https://millionrounds.com/company/airwide-solutions)** Series D · US · airwidesolutions.com **$25M** With 4 others
- **2005** 8 rounds
- **Dec** **[lululemon athletica](https://millionrounds.com/company/lululemon-athletica)** Growth · CA **$93M** With 1 other
- **Oct** **[Nereus Pharmaceuticals](https://millionrounds.com/company/nereus-pharmaceuticals)** Series D · US **$43M** With 11 others
- **Sept** **[Mendocino Software](https://millionrounds.com/company/mendocino-software)** Series B · US · allbusiness.com **$18M** With 3 others
- **Jul** **[Redfern Integrated Optics](https://millionrounds.com/company/redfern-integrated-optics)** Series C · US · rio-inc.com **$8.4M** With 6 others
- **May** **[Spherics](https://millionrounds.com/company/spherics)** Series C · US **$26M** With 2 others
- **Mar** **[TorreyPines Therapeutics](https://millionrounds.com/company/torreypines-therapeutics)** Series C **$35M** With 6 others
- **Feb** **[Intercity](https://millionrounds.com/company/intercity)** Venture · TR **Undisclosed** With 1 other
- **Feb** **[GFG Group](https://millionrounds.com/company/gfg-group)** Venture · NZ · gfg-group.com **$3.0M** With 2 others
- **2004** 7 rounds
- **Dec** **[MTI Technology Corporation](https://millionrounds.com/company/mti-technology-corporation)** Venture · US **$15M** Sole investor
- **Nov** **[PowerGenix](https://millionrounds.com/company/powergenix)** Series B · US **$10M** With 4 others
- **Jul** **[Upoc](https://millionrounds.com/company/upoc)** Series C · US **$5.0M** With 3 others
- **Jul** **[Shoes For Crews](https://millionrounds.com/company/shoes-for-crews)** Venture · US **$120M** With 3 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **11 named**

AM **Amanda Mcgrady Morrison** Chief Legal Officer i Form ADV

DM **David Marks Mussafer** Executive Officers' Committee Member i Form ADV

HK **Heather Kennedy Miner** Chief Operating Officer i Form ADV

HR **Heather Ross Zuzenak** Chief Compliance Officer i Form ADV

JG **James Gerald Arthur Brocklebank** Executive Officers' Committee Member i Form ADV

J(**Jan (nmn) Janshen** Executive Officers' Committee Member i Form ADV

JL **John Leonard Maldonado** Executive Officers' Committee Member i Form ADV

NC **Neil Crawford** Senior Director of the GP of the MGR of a MGR of the GP i Filing they signed

PP **Patrice Philippe Nogueira Baptista Etlin** Executive Officers' Committee Member i Form ADV

RK **Richard Kane** Managing Director and SVP of Business Operations of the Manager of a Manager of the GP i Filing they signed

SA **Susan Anne Gentile** Chief Financial Officer i Form ADV

We also hold **176** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$92B** assets it manages Oct 2026

**11+** funds on file numbered funds in its name

**Registered** investment adviser full reporting to the SEC

- **Legal name:** Advent International, L.P.
- **SEC number:** CRD 105673

Funds on its Form ADV

**143** private funds, **$87B** in gross assets · filed Mar 2024

- Advent International GPE IX Limited Partnership *Private equity* 186 investors $9.8B
- Advent International GPE X Limited Partnership *Private equity* 212 investors $8.8B
- Advent International GPE X-A SCSP *Private equity* 138 investors $5.8B
- Advent International GPE X-G Limited Partnership *Private equity* 82 investors $5.7B
- Advent International GPE IX-H Limited Partnership *Private equity* 9 investors $3.2B
- Advent International GPE VIII-B Limited Partnership *Private equity* 153 investors $3.0B
- Advent International GPE IX-A SCSP *Private equity* 117 investors $2.9B
- Advent International GPE IX-G Limited Partnership *Private equity* 53 investors $2.8B
- Advent International GPE VIII-A Limited Partnership *Private equity* 82 investors $2.2B
- Advent International GPE X-B Limited Partnership *Private equity* 55 investors $2.0B

And 133 more on the filing.

Who backs their funds

## 5 LPs on record in Advent International's funds

- **Committed:** $7.8B
- **Funds:** 19
- **Vintages:** 2005 to 2025

The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Jun 2026.

- [**California Public Employees' Retirement System (CalPERS)** 7 funds *$2.9B*](https://millionrounds.com/fund/california-public-employees) Fund Vintage Committed Advent International GPE X Limited Partnership 2022 $650M Advent Global Technology II Limited Partnership 2022 $150M Advent International GPE IX Limited Partnership 2019 $550M Advent International GPE VIII-B Limited Partnership 2016 $500M Advent International GPE VII-C 2012 $450M Advent International GPE VI-A 2008 $500M Advent International GPE V-D 2005 $81M
- [**Washington State Investment Board** 7 funds *$2.6B*](https://millionrounds.com/fund/washington-state-investment-board) Fund Vintage Committed Advent International GPE X Limited Partnership 2022 $600M Advent Latin American Private Equity Fund VII 2021 $200M Advent International GPE IX 2019 $600M Advent International GPE VIII-B 2016 $500M Advent Latin American Private Equity Fund VI-H 2015 $160M Advent International GPE VII-B 2012 $400M Advent International GPE VI 2008 $135M
- [**California State Teachers Retirement System** 4 funds *$985M*](https://millionrounds.com/fund/california-state-teachers-retirement-system) Fund Vintage Committed Advent International GPE X 2022 $300M Advent International GPE IX 2019 $300M Advent International GPE VIII-D 2016 $150M Advent International GPE VI 2008 $235M
- [**Oregon Public Employees Retirement Fund** 5 funds *$700M*](https://millionrounds.com/fund/oregon-public-employees) Fund Vintage Committed Advent International GPE XI 2025 $250M Advent International GPE X 2022 $200M Advent International GPE IX 2019 $100M Advent International GPE VII C 2012 $50M Advent International GPE VI A 2008 $100M
- [**Minnesota State Board of Investments** 6 funds *$655M*](https://millionrounds.com/fund/minnesota-state-board-of-investments) Fund Vintage Committed Advent International GPE XI 2025 $150M Advent International GPE X 2022 $150M Advent International GPE IX 2019 $115M Advent International GPE VIII-B 2016 $100M Advent International GPE VII 2012 $90M Advent International GPE VI-A 2008 $50M

## What they claim to have backed

From their own portfolio page (on their website)

**4** of 34 we have independently watched raise

[company](https://millionrounds.com/company/shield-ai)[company](https://millionrounds.com/company/saronic)[company](https://millionrounds.com/company/openai)[company](https://millionrounds.com/company/quantum-systems) company company company company company company company company company company company company company company company company company company company company company company company company company company company company company company

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **7 in all**

**[Shoes For Crews](https://millionrounds.com/company/shoes-for-crews)** Bought by [CCMP Capital Advisors](https://millionrounds.com/fund/ccmp-capital-advisors) **Undisclosed** Oct 2015

**[Enanta Pharmaceuticals](https://millionrounds.com/company/enanta-pharmaceuticals)** Listed **$56M** Mar 2013

**[Airwide Solutions](https://millionrounds.com/company/airwide-solutions)** Bought by Mavenir Systems **Undisclosed** May 2011

**[LogMatrix](https://millionrounds.com/company/logmatrix)** Bought by NitroSecurity **Undisclosed** Oct 2010

**[Demantra](https://millionrounds.com/company/demantra)** Bought by [Oracle Corporation](https://millionrounds.com/fund/oracle) **Undisclosed** Jun 2006

**[Topspin Communications](https://millionrounds.com/company/topspin-communications)** Bought by [Cisco](https://millionrounds.com/fund/cisco) **Undisclosed** Apr 2005

**[Seranoa Networks](https://millionrounds.com/company/seranoa-networks)** Bought by White Rock Networks **Undisclosed** Mar 2005

An exit counts when it came after the firm's first round in the company. From historical deal records.

## Companies it bought

Acquisitions by the firm itself

**Faculdade da Serra Gaucha.** **Undisclosed** Mar 2015

**Allied SA** **Undisclosed** Dec 2014

**Distribution International** **Undisclosed** Dec 2014

**Noosa Yoghurt** **Undisclosed** Nov 2014

**Priory Group** **Undisclosed** Jan 2011

**Degussa** **Undisclosed** Dec 2005

**Casa Reha** **Undisclosed** Sept 2005

**Making Memories** **Undisclosed** May 2005

**Tillimpa** **Undisclosed** Jun 2004

**Sportfive (Active Sports Marketing)** **Undisclosed** Mar 2004

**Dufry** **Undisclosed** Mar 2004

**Bulgarian Telecommunications** **Undisclosed** Jan 2004

New fund on file

**$26B**

raised in Jul 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$740M** the round, not its cheque Alone, median **$33M**

Led 7 of 59 rounds **12%**

- **Sole investor:** 10 rounds
- **Last cheque:** Oct 2026
- **Exits:** 7 from the portfolio

Rounds by stage said on their site

- Venture *14*
- Series D *11*
- Series B said *9*
- Series C *8*
- Growth said *6*
- Seed said *-*
- Series A said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Alta Partners](https://millionrounds.com/fund/alta-partners) 5
- [Accel](https://millionrounds.com/fund/accel) 4
- [Atlas Venture](https://millionrounds.com/fund/atlas-venture) 4
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 3
- [Direct Capital](https://millionrounds.com/fund/direct-capital) 3
- [Forward Ventures](https://millionrounds.com/fund/forward-ventures) 3

**Pitching Advent International?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

Add to your CRM *→*

## Who they invest alongside

The investors most often in the same rounds as Advent International. A count of rooms they were both in, not a relationship either has claimed.

[**Alta Partners** VC firm **5** rounds together](https://millionrounds.com/fund/alta-partners)[**Accel** VC firm **4** rounds together](https://millionrounds.com/fund/accel)[**Atlas Venture** VC firm **4** rounds together](https://millionrounds.com/fund/atlas-venture)[**Andreessen Horowitz** VC firm **3** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**Direct Capital** Private equity **3** rounds together](https://millionrounds.com/fund/direct-capital)[**Forward Ventures** Accelerator **3** rounds together](https://millionrounds.com/fund/forward-ventures)[**Foundation Capital** VC firm **3** rounds together](https://millionrounds.com/fund/foundation-capital)[**Gimv** Private equity **3** rounds together](https://millionrounds.com/fund/gimv)[**HBM BioVentures** Growth equity **3** rounds together](https://millionrounds.com/fund/hbm-bioventures)[**Hudson Ventures** Growth equity **3** rounds together](https://millionrounds.com/fund/hudson-ventures)[**Mayfield Fund** VC firm **3** rounds together](https://millionrounds.com/fund/mayfield)[**AMD Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/amd-ventures)

## Recently backed

The latest companies Advent International put money into.

[**Vinci** $250M · Oct 2026](https://millionrounds.com/company/vinci)[**Mistral AI** $3.5B · Sept 2026](https://millionrounds.com/company/mistral-ai)[**Shield AI** $1.5B · Jul 2026](https://millionrounds.com/company/shield-ai)[**Quantum Systems** $1.2B · Jul 2026](https://millionrounds.com/company/quantum-systems)[**Coralogix** $200M · Jun 2026](https://millionrounds.com/company/coralogix)[**KreditBee** $280M · Apr 2026](https://millionrounds.com/company/kreditbee)

## On podcasts

2 episodes naming Advent International in the title, and 4 more that mention it.

- [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 31 Jul 2024 · 22 min Leading Healthcare Investor: Advent International’s Carmine Petrone With [Carmine Petrone](https://millionrounds.com/person/carmine-petrone) Mentions [Advent International](https://millionrounds.com/fund/advent-international) Apple PodcastsShow page
- [Capital Allocators](https://millionrounds.com/podcasts/capital-allocators) 7 Dec 2022 · 1 min JUST RELEASED: Advent International on Private Equity Deals Mentions [Advent International](https://millionrounds.com/fund/advent-international)[Tricia Glynn](https://millionrounds.com/person/tricia-glynn) Apple PodcastsShow page

### Mentioned in

- [Alt Goes Mainstream](https://millionrounds.com/podcasts/alt-goes-mainstream) 13 Jan 2026 · 50 min Stonepeak's Cyrus Gentry - bringing infrastructure investing to the wealth channel Apple PodcastsShow page
- [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 11 Jan 2023 · 18 min Reengineering Online Advertising: Seedtag Founder Albert Nieto Riera Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 11 Nov 2022 · 46 min 20VC: Why Market Size is Everything | Three Signs of a Bull Market and How To Remain Disciplined | Why Investing is a Young Person's Game | The Secret to Negotiation | Missing a $200M Opportunity in Nubank and more with Martín Escobari, Co-President @ Ge Apple PodcastsShow page
- [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 6 Oct 2021 · 21 min King of All Data: BigID CEO Dimitri Sirota Apple PodcastsShow page

## Quick answers about Advent International

### What does Advent International invest in?

Advent International invests most often at Venture and Series D (52% of the rounds on record), in sectors such as Business & Financial Services, Consumer and Healthcare.

### How active is Advent International?

59 investments on record, 9 of them in the last 12 months, and it led 7. The most recent was in Oct 2026.

### What has Advent International invested in recently?

Its most recent investments on record: Firehawk Defense (Series D, Oct 2026), Vinci (Series B, Oct 2026) and Mistral AI (Series D, Sept 2026).

### How big are Advent International's cheques?

The median round it joins is $740M.

### Does Advent International lead rounds?

Sometimes: it led 7 of its 59 investments on record (12%).

### Where does Advent International invest?

Most of the companies it backs are in the United States (76%) and New Zealand (5%).

### Is Advent International investing now?

Yes: it is actively investing, with 9 investments in the last 12 months.

### Who does Advent International invest alongside?

Most often Alta Partners (5 rounds together), Accel (4 rounds together) and Atlas Venture (4 rounds together).

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