AAF Management Closes $55M Axis Fund Backed by Mubadala and Others

Deal Summary

Washington-based AAF Management closed a $55 million early-stage hybrid vehicle called the Axis Fund, bringing the firm's assets under management to roughly $250M. The fund will allocate ~80% to startups and ~20% to emerging managers and is backed by Mubadala, several family offices, GPs, a multi-billion-dollar U.S. venture firm and a public company.