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Unshackled Fund III's limited partners include Cambridge Associates, Cendana, Emerson Collective, California Infrastructure and Economic Development Bank and Sorenson Impact Advisory.

Sharp declines in funding for transportation, energy and food and land use sectors drove overall weakness in later-stage funding for climate tech in the first six months of 2023.

While many large investors have soured on private equity due to allocation problems and a shortage of distributions, at least three giant pensions are looking to put more to work.

The fund's investors include the State of Michigan Retirement Systems, which committed $35m, and the City of Ann Arbor Employees’ Retirement System, which put up $6m.

The joint venture will have an initial capacity to deploy up to $100 million of funding of growth capital to entrepreneurs in the technology sector.

The pension system could pump more money into venture and buyout funds if it approves a recommendation to hike its target to private equity from 6 percent to 10 percent.

The Swiss venture firm made two additions to its board: Yvonne Bettkober, head of organizational development at Volkswagen Group, and Philipp Rösler, former vice-chancellor of Germany and founder and CEO of Consessor AG.

A former US diplomat and a Ukrainian PhD are an unlikely pairing, but their shared obsession with finding great founders has helped them generate a 70 percent IRR for their debut fund.

The early-stage investor reinvests proceeds from previous funds as it raises little, if any, outside capital.

LPs include BNY Mellon, Euroclear, JP Morgan, S&P Global, Jefferies, Deutsche Börse Group, Barclays, Citi and SGX.