Los Angeles County Employees Retirement Association, Pasadena, in closed session committed a total of up to $65 million to two Joy Capital venture capital funds, according to minutes for the board's June 12 meeting.
LACERA committed up to $40 million to Joy Capital III and $25 million to Joy Opportunity Fund. Joy Capital III is an early stage venture capital and growth equity fund focused on technology, media and telecommunications companies in China. Joy Opportunity will invest additional capital in Joy Capital's prior funds, which are also China-focused.
