David Bogoslaw

The firm's eighth flagship has raised $350m to invest in companies developing 'picks and shovels' for AI.

With commitments from returning LPs, as well as new endowments, family offices and its first two public pension plans, the new fund has made 12 investments to date.

What fund managers are experiencing is more complex than the headline numbers suggest.

Trained as a quantum scientific researcher, Kris Kaczmarek shifted his career focus to venture capital, excited by what a quantum-focused funds were building.

Among the LPs in the firm’s debut fund were Alaska Retirement Management Board and Teachers Insurance and Annuity Association of America.

Increasing the UK pension fund’s VC allocation to £200m, the dedicated VC sleeve signals Nest’s intent to strengthen its support for the asset class, part of a broader vision to expand its private markets exposure up to 30% by 2030.

Seeking access to the most alluring start-ups, strong due diligence and help with bridging work cultural differences has led three Japanese companies to launch new funds managed by Pegasus Tech Ventures in the past month.

The fund, whose size has not been disclosed, aims to advance global connectivity and innovation, focusing on AI, automation, edge computing and intelligent data infrastructure.

Japanese strategic LPs are driven by a desire to bring emerging technologies into their operations, an interest in strategic relationships and a thirst for M&A or distribution opportunities.

With a new fund that is 46% larger than its last fund, the firm invests primarily in logistics, healthcare and fintech.