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The firm expects to spend about $150m of its fourth Venture Innovation Fund program on LP stakes in venture funds.

The sixth annual Rising Stars celebrates the achievements of people under the age of 40 in the venture capital industry. The deadline for nominations is November 15.

Venture funds raised a little less than $83bn in the first three quarters of this year, down from more than $95bn in the same period in 2023, according to exclusive research by Venture Capital Journal.

The Berlin-based firm will soon hold a final final close on “around $120 million” for its third fund, co-founder and general partner Adam Zobler tells Venture Capital Journal exclusively.

If Q2's pace continues through the rest of the year, the full-year total could come in at around $120bn, matching the 2023 total.

Venture firms worldwide closed on $15bn in the first quarter. It was their smallest fundraising haul since Q3 of 2017.

Venture Capital Journal surveyed 117 institutional investors worldwide to find out what is most – and least – important to investors in venture funds.

Investors in the new funds include California Public Employees' Retirement System, New Mexico State Investment Council, Alaska Permanent Fund and the Fire and Police Pension Association of Colorado

Venture funds worldwide raised a combined $58.1bn in the first half of 2023, down from about $100bn in the first half of last year, according to exclusive Venture Capital Journal research.