Texas County & District Retirement System, Austin, committed $12.5 million to Spark Capital V, said a transaction report on the $24 billion pension fund's website.
Spark Capital’s latest venture capital fund will invest in early-stage U.S. online businesses located primarily in New York that are consumer-oriented.
The latest commitment is the pension fund’s third to a Spark Capital venture capital fund: $10 million was committed to Spark Capital IV in 2013 and $15 million to Spark Capital Growth Fund in 2014.
The pension fund committed a total of $35 million earlier this month to two venture capital funds managed by Lightspeed Venture Partners.
