The $20 billion San Francisco City & County Employees’ Retirement System committed up to $30 million to Trinity Ventures XII.
According to agenda materials for the pension fund’s upcoming meeting on Wednesday, the decision was made during closed session at the fund’s Oct. 14 meeting. An initial capital call of $15 million was made on Oct. 23 by the fund.
The fund is classified as a venture capital investment within SFERS’ private equity portfolio. It is the pension fund’s third commitment to a Trinity fund.