Commitments

The UK government-backed investor joined Spanish investment firm Aldea Ventures, UK impact investor Big Society Capital, US family offices and funds-of-funds managers.

Orange County Employees Retirement System committed $50m to TCG Crossover Fund II, joining the New Mexico State Investment Council and Rhode Island State Treasury.

The nation's largest pension fund wants to grow VC from about 1.4 percent to 10 percent of its private equity portfolio.

'The valuation environment is generally more rational now, even at the earliest stages, so it will be hard to justify a larger or even flat fund size, in most cases,' one LP tells Venture Capital Journal.

Concerns over the manager's performance and its failed investment in FTX have made for a rockier road drawing in LP commitments.

New York State Common Retirement Fund (NYSCRF) has committed a combined $60 million to two venture funds and $50 million to a growth equity fund.

A well-established venture firm missing its fundraising target signals that some LPs are cutting back on their commitment sizes.

The Column Group is close to reaching its fundraising target of $600m apiece for its early-stage life science Fund V and later-stage Opportunity Fund III.

Public pensions and intuitional investors invested nearly $200m into building out their portfolio and committing to new VC firms.

LPs poured billions of dollars into the VC market in 2020 and showed no signs of stopping in the wake of the coronavirus.