LP Profiles

Apurva Mehta and Patrick O'Connor built a top-performing emerging manager VC portfolio while they were co-CIOs of a hospital endowment in Texas. Two years ago, they converted those partnerships into an FoF.

Since launching its formal LP effort in 2016, Boulder, Colorado-based Foundry Group firm has backed dozens of emerging managers. These relationships have also helped the firm zero in on direct investments.

In 2016, the LP formed a dedicated early-stage venture capital fund by leveraging its existing VC program. It continues to re-up with long-term partners as it also adds one or two new GPs a year.

The Connecticut Retirement Plans and Trust Funds is working to decrease its exposure to venture, but says it will continue to invest in its successful SMA initiative.

The firm's hybrid fund of funds makes primary investments in small emerging managers.

The organization hopes to show other UK LPs the benefits of well-diversified venture portfolio.

UTIMCO's Conrad Shang, who says he is optimistic about the VC asset class, shares what he tells new managers he meets.

The Los Angeles Fire and Police Pensions dove headfirst into venture last year and ran laps around its 2018 commitment total.

Canada’s largest pension fund with net assets of C$410 billion ($309 billion; €279 billion), has so far made commitments to three Silicon Valley managers. It aims to deploy an initial $1 billion to funds in North America and Europe in early-stage and growth-stage vehicles.

Oscillations in seed financing did not prevent the San Francisco LP from continuing to raise larger funds and amassing $1.1bn in AUM.