TCDRS confirms $50m commitment

TCDRS has backed IDG Capital's seventh Venture Capital Fund.

Name: Texas County and District Retirement System
HQ: Austin, US
AUM: $44.4bn
Allocation to alternatives: 60%

TCDRS has announced a $50 million commitment to IDG China Venture Capital Fund VII, according to recent investment meeting materials.

Founded in 1992, IDG Capital is a China-based investment organisation that focuses on private equity, venture capital mergers and acquisitions.

Texas County and District Retirement System has a 21.2 percent allocation to private equity, which comprises $9.3 billion in capital. TCDRS currently has a target allocation of 25 percent.

As illustrated below, TCDRS’s recent private equity commitments are focused on North American vehicles that invest in venture capital funds.

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