News

Firm founder Jeff Clavier also announced he is taking a 'step back from day-to-day management,' with Andy McLoughlin now serving as Uncork's sole managing partner.

The new CIO of the $44bn public pension system is pushing hard into PE, and VC is a big part of his plan.

LPs include family offices of digital entrepreneurs, industrial investors and former executives from businesses such as Yahoo Marketplace and Prisma AI, the firm says.

The emerging manager was founded earlier this year by alumni of Coatue Management, NEA, TCV and Google.

Investors include Nigeria's Bank of Industry, British International Investment, EDFI Management Company, Mastercard Foundation Africa Growth Fund and Visa Foundation.

Fund II raised 15% more than Fund I and the fundraising process appears to have taken just two months.

The VC firm targets businesses across fintech, health and commerce sectors in high-potential regions.

Fund II closed eight weeks after fundraising commenced.

Other investors in Lakestar's second growth fund include family offices Italmobiliare and KOEHLER Group, government-related investment organization PFR Ventures, Sidley Austin Master Pension Trust and the Grantham Foundation.

Fund 3 will target deep tech startups.