Texas County & District Retirement System, Austin, closed two new commitments totaling $35 million to China-focused venture capital funds managed by Lightspeed China Partners.
The $40.7 billion pension fund closed commitments of $18 million to Lightspeed China Partners V and $17 million to Lightspeed China Partners Select II, both on Tuesday, a transaction report on its website shows.
TCDRS previously committed $10 million each to Lightspeed China Partners IV and Lightspeed China Partners Select I in 2018.
As of Wednesday, the system's investment officers committed a total of $1.535 billion in 25 private equity and venture capital funds, run by 19 managers, according to the system's 2021 transaction report.
In all of 2020, TCDRS committed a total of $2 billion to 32 private equity and venture capital funds from 25 managers, the transaction report for that year showed.