Texas County & District Retirement System, Austin, committed $125 million to two new venture capital funds run by existing manager Khosla Ventures, a transaction report showed.
Investment officers of the $30.7 billion system committed $95 million to Khosla Ventures VII, which plans to seek investments in clean technology and information technology companies in North America. TCDRS committed $30 million to Khosla Ventures Seed E, which plans to invest in early stage U.S. health-care and technology companies.
In 2018, the system committed a total of $100 million to the two predecessor funds in Khosla Ventures' fund families.
TCDRS' private equity/venture capital portfolio totaled $5.3 billion as of June 30.
With the addition of the two new Khosla funds, TCDRS has committed a total of $1.6 billion year-to-date Oct. 16 to 25 funds run by 21 private equity/venture capital managers.
In all of 2019, the system committed a total of $1.2 billion to 28 PE/VC funds managed by 27 firms, transaction reports showed.