PEI Group Data

The California pension plans to make intermittent investments in VC funds, but it will focus on building out its core buyout strategy.

Europe has proven comparatively resilient, while venture capital – especially in Asia-Pacific – continues to bear the brunt of the industry’s fundraising slowdown.

With more VC-backed start-ups choosing to stay private longer, liquidity to fuel recruitment and retention is in short supply. A new partnership between NewView Capital and Carta aims to make company-sponsored tenders easier to execute.

Among the LPs that have signed on to the new vehicles are New Mexico State Investment Council and San Mateo County Employees' Retirement Association.

The $23bn public pension is mulling commitments to two funds from Capricorn Investment Group and two funds from JSL Health Capital.

About 20% of Carrick Capital Partners' Fund II LPs opted to roll their equity into the $600m continuation vehicle, says co-CEO Jim Madden.

The £35bn retirement scheme, a longtime VC investor, works with external GPs at the seed stage, says head of UK productive assets Julia Diez.

LPs committing to the new ocean-focused fund include Finnish family owned investment company Aboa Advest, US multifamily office Adamo Capital and Swiss investment holding company ARGOng Investment AG.

A growing number of VC-backed companies are selling to private equity, even though PE firms generally don’t pay as much as strategic buyers.