Sacramento County (Calif.) Employees' Retirement System committed $20 million to Threshold Ventures III, CEO Eric Stern said in an email.
It is the $9.7 billion pension fund's first commitment to a Threshold Ventures fund, Mr. Stern said.
Threshold Ventures III is an early stage venture capital fund that seeks investments in disruptive companies in consumer, enterprise and health-care technology sectors.
As of June 30, the pension fund's actual allocation to private equity was 9.6%; the target is 9%.
