Texas County & District Retirement System, Austin, committed $100 million to the newest venture capital fund in a series run by existing manager DCVC Management, also known as Data Collective, a transaction report for the $43.9 billion pension fund showed.
The April 8 commitment is to DCVC VI whose portfolio managers will seek investment opportunities in big data, deep computing and investment technology infrastructure companies, according to the manager's website.
The latest commitment to DCVC is from TCDRS' $10.7 billion private equity/venture capital portfolio.
The retirement system's actual allocation to private equity/venture capital as of Dec. 31 was 24.4% of total plan assets, close to the target allocation of 25%.
Year-to-date April 8, TCDRS has committed a total of $875 million to 15 private equity/venture capital funds managed by 10 managers, including DCVC, the pension fund's 2022 transaction report showed.
In all of 2021, the retirement system's investment officers committed a total of $4.6 billion to 33 private equity/venture capital funds managed by 26 firms, that year's transaction report said.
