Los Angeles Fire & Police Pension System committed up to $40 million to three alternative investments funds, according to agenda materials for the $23.9 billion pension plan.
Pension plan officials committed up to $15 million each to Oak HC/FT III, a late stage venture capital fund investing in health care and financial technology, managed by Oak HC/FT Partners, and an early stage venture capital fund, Pelion Ventures VII, managed by Pelion Venture Partners. The pension plan has invested with both firms in the past including a $5 million commitment to Oak HC FT Partners and a $10 million commitment to Pelion Ventures V.
LAFPP also committed up to $10 million to a venture capital fund, Threshold Ventures III, managed by Threshold Ventures, a firm formerly known as Draper Fisher Jurvetson. Pension officials have invested with DFJ in the past, including up to $15 million to DFJ Growth 2016.