The pension made a $50m commitment to IVP despite saying that the strategy is overweight after a large buyout sale that closed last year.
The organization's venture portfolio is currently 23 percent of the overall private equity bucket, more than double its target of 10 percent.
The Texas LP continues its push into VC, committing $305 million this year, which is more than half of $460m invested in 2019.
Founder Michael Kim says the firm's oversubscribed $218m fund of funds for seed-focused VC firms comes as valuations at the stage are returning to pre-pandemic levels.
Investors from endowments to pensions and other institutional LPs are trying to square their next steps – on VC allocations, capital calls and more – with a changing economic reality.
fund structure
Capital on both sides of the table could be in trouble as funds have swelled in size and come back to market faster than ever before. Here’s how GPs and LPs are traversing fund schedules and capital calls.
A recession fueled by an ongoing pandemic has universities facing critical budget woes. With endowments feeling the heat, VCs are on course to see a very different fundraising environment later this year or in 2021.
TCRS' 2020 venture commitments are already more than 2.3x its 2019 allocation to the asset class.
New Mexico
The sovereign wealth fund committed $30m to the fund bringing its total venture commitments in 2020 up to $45m across three vehicles.
Sovereign wealth funds have boosted their investment in VC deals by more than 19x over the past 10 years, a new report says.

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