Texas County & District Retirement System, Austin, committed a total of $120 million to two venture capital funds run by existing manager Spark Capital, a transaction report for the $40.7 billion pension fund showed.
From the retirement system's $8.8 billion private equity/venture capital portfolio, investment officers committed $80 million to Spark Capital Growth Fund IV and $40 million to Spark Capital VII on Oct. 14.
In 2019, TCDRS committed $40 million to Spark Capital Growth Fund III and $20 million to Spark Capital VI, a transaction report for that year showed.
As of Oct. 14 this year, the pension fund had committed a total of $2 billion to 31 private equity/venture capital funds run by 23 managers in 2021, the current transaction report showed.
In 2020, TCDRS committed a total of $2 billion to 25 private equity/venture capital managers for investment in 32 funds, the retirement system's transaction report for that year showed.
