StepStone Private Venture and Growth Fund - Class I Shares (XSPIX) is a non-diversified, closed-end management investment company that seeks long-term capital appreciation by providing investors access to a portfolio of venture capital and growth equity investments focused on the innovation economy. The fund allocates its assets primarily through secondary market transactions in venture capital and growth equity funds, direct investments in operating companies, and to a lesser extent, seasoned primary funds; it targets sectors including enterprise information technology, technology-enabled products and services, consumer internet, healthcare, branded consumer or consumer packaged goods, and other areas benefiting from secular trends. Known as SPRING within StepStone Group's private wealth solutions, the fund employs a broadly diversified, open-architecture approach emphasizing best-in-class managers across innovation sectors. Founded on March 4, 2022 and headquartered in Charlotte, North Carolina, it serves institutional and sophisticated individual investors seeking exposure to high-growth private companies typically unavailable in public markets. Recent developments include significant insider purchases in December 2025 by President and Principal Executive Officer Robert W. Long, who acquired 32,523 shares for approximately $1.7 million, and Secretary and Chief Compliance Officer Dean Anthony Caruvana, who bought 956 shares for about $50,000, signaling strong internal confidence amid portfolio growth to net assets of roughly $3.23 billion.