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Iowa Municipal Fire & Police commits to venture capital fund of funds

Iowa Municipal Fire & Police Retirement System, West Des Moines, committed $50 million to Top Tier Venture Velocity Fund II, said Terry Slattery, executive director of the $2.4 billion pension fund, in an email.

The venture capital fund of funds is managed by Top Tier Capital Partners. It is the pension fund's first commitment to Top Tier. It has a 15% private equity target.