Venture Capital
The plan’s private markets portfolio accounts for more than half of its total assets.
The fund targets top-performing, oversubscribed funds and companies.
The plan will also consider a $30 million re-up commitment with a real estate manager.
The corporation is searching for firms to establish a state venture capital fund and to act as the manager of the fund, for which the state will be a limited partner.
The fund-of-funds made a commitment to an investment vehicle targeting start-ups in Southern Wisconsin, where Microsoft plans to make a $3.3 billion investment in cloud computing and artificial intelligence infrastructure.
Under today’s conditions, many nonprofits and allocators are looking at other macro trends — especially the advancement of artificial intelligence technologies and concomitant demand spike for energy and infrastructure — that bode well for their alternatives allocations.
The institution is seeking a managing director to spearhead investments in oncology-focused startups and source, evaluate and negotiate early-stage investment opportunities.
The plan also received asset/liability stress test results from project-basis consultant Agilis at today’s board meeting.
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.