The San Francisco City & County Employees' Retirement System's board approved commitments to three venture capital funds, FirstMark Capital OF I and DCM Ventures China Turbo Fund, and one private growth fund, OpenView Venture Partners IV, during closed sessions at its meetings in July and September, shows a memorandum from Jay Huish, the $20 billion system's executive director.
At the July 9 meeting, the pension fund approved a commitment of up to $25 million to the FirstMark Capital Partners fund, a late-stage venture capital fund, and $20 million to the OpenView Venture Partners fund, a private equity fund that makes commitments of $5 million to $20 million in business-to-business software companies.
At its meeting on Sept. 10, the board made a commitment of up to $25 million to the DCM fund, a late-stage venture capital fund.
