Venture Capital
At least three nonprofit organizations have committed to a venture capital manager’s inaugural fund, which recently closed with more than $60 million in commitments.
The plan approved two commitments at a board meeting this week.
The firm closed its latest fund focused on energy and climate-related companies adapting artificial intelligence technologies with $160 million, including commitments from two returning nonprofit investors.
The plan reduced its international small-cap equity portfolio to two managers from three at last week’s board meeting.
A foundation based in the Mid-Atlantic region has added a new impact commitment to a venture firm focused on diverse-led manufacturing companies.
The retirement fund disclosed commitments totaling $4.5 billion in September.
The credit arm of an investment manager is acquiring a venture debt manager in a deal expected to close in the fourth quarter.
The firm, which seeks to lead investments in early-stage software companies at seed and series A stages, has raised more than $350 million for its inaugural fund, including a commitment from at least one large endowment.
The NAACP has launched a fund-of-funds to invest in fund managers and startups that are focused on closing gaps facing communities of color.
The retirement system added a trio of domestic core-plus fixed-income investments at last week’s board meeting.
