LP Insight

Staff and consultants of the $5bn Silicon Valley pension are bullish about opportunities in a depressed VC marketplace.

Mat Powley, a partner on the private capital team, talks about the $28bn UK multifamily office’s approach to new and venture GPs for its flagship fund of funds.

Emerging managers are trying to identify investors with whom their visions resonate.

The sovereign wealth fund will look toward more investments in venture capital funds, along with wider definitions of in-state impact, in an attempt to revamp the program.

Contrary to a report in the Financial Times that public market turmoil is spurring large institutional investors to explore selling out of private market positions, most LPs are not likely to make such reactionary decisions to sell at steep discounts.

The public pension has committed a combined $95m to venture funds managed by Upfront Ventures, StepStone Group and Mission BioCapital since 2019.

We spoke to a dozen LPs for our cover story. They are upbeat about VC and, despite a lack of distributions, appear keen on supporting venture managers or pursuing new ones.

A refreshed commitment to a new BlackRock SMA will focus on co-investments.

San Jose Federated, which has committed to seven VC funds in the past four years, shifted decision-making for venture investments from its investment committee to staff.

Less than a fifth of limited partners in VC funds consider themselves knowledgeable of AI risks, research from VentureESG shows.