New York State Common commits $50 million to venture capital fund

New York State Common Retirement Fund, Albany, committed $50 million to Softbank Capital Technology New York Fund II, confirmed Eric Sumberg, a spokesman for state Comptroller Thomas DiNapoli, the sole trustee of the $160.4 billion pension fund.

“Softbank Capital New York makes early stage venture capital investments in New York state-based companies,” Mr. Sumberg wrote in an e-mail.

Previously, the New York pension fund invested $50 million in another Softbank Capital New York fund, Mr. Sumberg added.