With a single dry close enabled by proactive existing LPs, the new fund means to address some of the world’s most intractable problems, from access to financial products to retraining of workers displaced by technology.
For new investments in Malaysia and other countries, the global venture fund has partnered with a sovereign wealth fund that shares its interest in applying digital technology to clean energy, healthcare and education software.
US pension MassPRIM, which committed to just a single venture fund in 2023, has already committed to two this year.
WovenEarth Ventures announced it has closed its inaugural fund of funds on its hard-cap of $152m.
The pension aims to invest about $200m in venture capital and growth funds this year, after committing a combined $77.5m to five venture funds in 2023.
Practica Capital, a Lithuanian venture capital firm, has closed its third fund at a hard-cap of €80m.
To generate liquidity for limited partners in its first fund, Primary Venture Partners has completed a $95 million secondary strip sale to StepStone Group, Venture Capital Journal has learned.
NMSIC committed $10m to Next Frontier Capital's fourth fund, which is targeting $125m to invest in B2B tech companies in the Rocky Mountain region.
ArcTern closed on $335m for its third climate-focused fund, including a $25m commitment from Canadian Pension Plan Investments.
Firm founder Jason Howard says New Catalyst Strategic Partners plans to initially do seven to 10 deals, with investments between $60 million and $75 million or more.