San Fran Commits $31.8M to Venture Capital

The San Francisco Employees’ Retirement System approved a commitment of $31.8 million to LAV Fund VII, a venture capital fund managed by Lilly Asia Ventures.

Lilly Asia Ventures is a venture capital firm focusing on biopharmaceuticals, human therapeutics, medical devices, and diagnostics. They have offices in Shanghai, Hong Kong, and Palo Alto.

As of April 30, 2024, the $34 billion Retirement System allocates 28.8% to private equity.

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