Michigan Department of Treasury, Lansing, made two commitments to...

Michigan Department of Treasury, Lansing, made two commitments to venture capital funds that invest in Internet companies. The department, with close to $49 billion in pension assets, committed $125 million to Softbank Technology Ventures IV and V, said Bridget Medina, a spokeswoman. It also committed $30 million to idealab Capital Partners. Funding will come from Michigan’s cash position, she said. Michigan Department of Treasury has an 8.5% exposure to private equity, she said.