Texas County & District Retirement System, Austin, committed $40 million to China-focused Joy Capital II, a transaction report from the $27 billion pension fund showed.
Portfolio managers of the venture capital fund will provide early-stage funding to companies in China's technology, media and telecom sectors. TCDRS committed $30 million in 2016 to the first venture capital fund in Joy Capital's series.
As of Aug. 25, the pension fund had committed a total of $701 million to 14 private equity and venture capital funds so far this year, the transaction report showed.
