The $37.5 billion Texas County & District Retirement System, Austin, committed $75 million to Vida Ventures III, managed by Vida Ventures Advisors, a transaction report showed.
The firm specializes in venture capital investments in biomedical innovations, according to its website.
The $75 million commitment is TCDRS' largest this year from its $6.8 billion private equity/venture capital portfolio, according to the system's 2021 transaction report.
As of April 15, TCDRS investment officers committed $250 million to seven private equity/venture capital funds run by six managers.
In 2020, the system committed a total of $2 billion to 32 private equity/venture capital strategies managed by 25 firms, TCDRS' 2020 transaction report showed.