Nebraska backs HarbourVest and NEA funds

Nebraska Investment Council committed to funds from New Enterprise Associates and HarbourVest Partners at its June meeting.

The system, which said in March that it was considering an additional investment with the venture firm, committed $50 million to New Enterprise Associates’ 17th fund, which is targeting $3.6 billion for its largest fund to date. The fund will invest across stages in the tech and healthcare sectors.

Nebraska previously committed $20 million each to NEA 13 and NEA 14, closing with $2.5 billion and $2.6 billion, respectively, according to VCJ affiliate Active LPs and Pitchbook.

Nebraska committed $66 million to HarbourVest’s Dover Street X fund, targeting $5.75 billion, meeting documents show. The fund focuses on the secondaries investments. The board previously committed $90 million between HarbourVest’s eighth and ninth Dover Street funds.

The $27 billion plan, which manages 32 investment programs, set its 2019 private equity pacing plan at $150 million, according to meeting notes.

Nebraska’s PE portfolio sits at 7 percent, surpassing its target allocation of 5 percent, according to a Q1 performance review document.