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The Sacramento County Employees' Retirement System plans to ease back on its commitments to venture until it sees a rebound in the exit market.

Fund III's backers include university endowments, family offices, foundations and fund of funds. LPs in the firm's previous fund included Harvard and Princeton.

Norrsken22 closed its debut fund at an oversubscribed $205m with support from its namesake foundation to invest primarily in sub-Saharan growth-stage companies.

Prior to joining Defy VC, Amy Yin was founder and CEO of OfficeTogether and Medha Agarwal was a partner at Redpoint Ventures.

Pender Technology Inflection Fund II is targeting C$100 million.

Tight relationships with the US venture community are key when trying to choose best-in-class technology by global standards in brand new markets to invest in, and for bringing more experience into portfolio companies’ boardrooms.

Orange County Employees Retirement System, the City of San Jose Retirement System and UK pension fund Railpen are among the LPs betting on a new firm that wants to buy stakes in 15 to 20 VC management companies.

Menlo says the newly raised capital will go to its flagship venture fund Menlo XVI, Menlo Inflection III and affiliated funds 'with a mandate to invest in promising technology companies leading the AI transformation.'

Collective Global says it plans to invest in 15-20 venture managers in the US and Europe and has already agreed to acquire a stake in a "leading venture firm that invests in market-defining companies across technology and artificial intelligence."

Flashpoint RI Secondary Fund II will focus on companies with annual recurring revenue of $30m to $150m, says general partner Michael Szalontay.