Texas County & District Retirement System, Austin, committed a total of $50 million to three venture capital funds managed by Lightspeed Venture Partners.
The $50 billion pension fund disclosed the March 7 commitments of $23 million to Lightspeed Venture Partners Select VI, $15 million to Lightspeed Venture Partners XV-B (Ignite) and $12 million to Lightspeed Venture Partners XV-A (Inception) in an investment activity update on its website.
TCDRS previously committed $70 million to Lightspeed Venture Partners Select V, $28 million to Lightspeed Venture Partners XIV-B (Ignite) and $23 million to Lightspeed Venture Partners XIV-A (Inception) in 2022.
As of Dec. 31, the pension fund’s actual allocation to private equity was 26.6%; the target is 25%.
