Greenspring Associates was a venture capital firm founded in 2000 by C. Ashton Newhall and Rupert Montagu. The firm specialized in investing across various stages, including direct investments, fund investments, and secondary transactions, creating a "flywheel" effect in venture capital.

Their portfolio included notable companies such as Chewy.com, GrubHub, and ExactTarget. In 2021, Greenspring Associates was acquired by StepStone Group in a transaction valued at over $725 million, combining their assets under management to approximately $27 billion.