Rhode Island State Investment Commission, Providence, committed up to $25 million to Industry Ventures Partnership Holdings III, a fund of funds that invests in venture partnerships and early secondary sales of venture capital funds, said Ashley Gingerella O'Shea, spokeswoman for Rhode Island Treasurer Gina Raimondo, who oversees the commission.
It is the commission's first commitment to Industry Ventures.
The state investment commission manages the Providence-based $7.7 billion Rhode Island Employees' Retirement System.
