May 28, 2024
In 2023, we observed a notable trend of public pensions investing heavily in venture capital funds. Despite a slight dip from the $8.5 billion tracked in 2022, public pensions still managed to funnel nearly $7.7 billion into venture capital this year.
A broad spectrum of pension funds and retirement systems have strategically shifted towards alternative investments to diversify their portfolios and seek enhanced returns. This list includes a range of institutions, from large state retirement systems to smaller county employees' retirement associations, each making strategic moves into the venture capital space with varying levels of financial commitment.
In this article, we're highlighting the top 10 public pensions investing in venture capital funds in 2023, ranked by investment amount. By the end of this, you'll have insight into how pension funds across the United States are positioning themselves within the venture capital landscape.
AUM: $500,000,000,000
2023 Venture Capital Investments Total: $2,300,000,000
2023 Number of Venture Capital Investments: 20
Consultants: Wilshire, Meketa
AUM: $260,000,000,000
2023 Venture Capital Investments Total: $1,100,000,000
2023 Number of Venture Capital Investments: 7
Consultants: RVK, Meketa, Aksia, Townsend, Mercer
AUM: $52,000,000,000
2023 Venture Capital Investments Total: $560,000,000
2023 Number of Venture Capital Investments: 19
Consultants: RVK, Meketa, Aksia, Townsend, Mercer
AUM: $38,000,000,000
2023 Venture Capital Investments Total: $350,000,000
2023 Number of Venture Capital Investments: 8
Consultants: Wilshire, Callan, Cambridge, Aksia
AUM: $96,000,000,000
2023 Venture Capital Investments Total: $300,000,000
2023 Number of Venture Capital Investments: 4
Consultants: RVK, Cliffwater, Hamilton Lane, Aksia
AUM: $56,000,000,000
2023 Venture Capital Investments Total: $300,000,000
2023 Number of Venture Capital Investments: 1
Consultants: Meketa, Aon, Albourne, Hamilton Lane
AUM: $43,000,000,000
2023 Venture Capital Investments Total: $300,000,000
2023 Number of Venture Capital Investments: 8
Consultants: Cliffwater
AUM: $104,000,000,000
2023 Venture Capital Investments Total: $175,000,000
2023 Number of Venture Capital Investments: 1
Consultants: NEPC, Hamilton Lane, Meketa
AUM: $22,000,000,000
2023 Venture Capital Investments Total: $235,000,000
2023 Number of Venture Capital Investments: 8
Consultants: Meketa, Townsend, Aksia
AUM: $53,000,000,000
2023 Venture Capital Investments Total: $207,000,000
2023 Number of Venture Capital Investments: 7
Consultants: Wilshire, Callan
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Koncheng Moua is the Director of Data Management and Strategy at Dakota.
