San Jose (Calif.) Federated City Employees Retirement System disclosed two new venture capital commitments totaling $7 million.
The $2.9 billion pension fund disclosed commitments of $5 million to Innovation Endeavors V and $2 million to Crosslink Endeavour Fund II, managed by Crosslink Capital, in materials for its upcoming Oct. 19 board meeting.
The pension fund previously committed $5 million to Innovation Endeavors IV in 2021. The commitment to Crosslink Capital is the first to the manager for the pension fund.
As of June 30, the pension fund's actual allocation to private markets was 23.8%; the target is 21%.