The $35.7 billion Texas County & District Retirement System, Austin, committed $30 million to a China-focused venture capital fund, a transaction report showed.
The allocation from the system's $6.8 billion private equity/venture capital portfolio is to IDG Breyer Capital Fund, which is co-managed by existing manager IDG Capital and new manager Breyer Capital.
TCDTRS earlier committed $80 million to two IDG China-focused funds, transaction reports showed.
In March, the system committed $40 million to two China-focused venture capital funds managed by Source Code Capital, a new manager for TCDRS.
Including the new IDG Breyer strategy, TCDRS investment officers have committed $175 million through April 6 to six private equity/venture capital funds run by five money managers.
In 2020, the system committed $2 billion to 32 strategies managed by 25 private equity and venture capital firms, a TCDRS transaction showed.