Mark Boslet
A generation of venture capital funds now reaching middle age is clearly benefiting from the business’ up-cycle. This is apparent in the Washington State Investment Board’s Pathway and Invesco portfolios, where funds from the 2006 to 2008 vintages are turning in solid performances. This group of smart performers includes funds from Spark Capital, Union Square […]
Distributions from Union Square Ventures’ debut 2004 fund and Spark Capital’s initial 2005 fund spiked last year, perhaps not surprisingly, according to a recent Washington State Investment Board portfolio report. Both firms were investors in Tumblr, which Yahoo acquired last summer, and both put money in Twitter, which went public after the cutoff for the […]
Gains by funds from Aberdare Ventures, Vicente Capital Partners and Aisling Capital lifted the performance of California Public Employees’ Retirement Systems’ self-directed venture portfolio. The portfolio’s top fund, Insight V, also advanced during the most recent reporting period, although Khosla Ventures III and Khosla Ventures Seed lost ground, according to a CalPERS’ public portfolio report […]
Big gains from New Enterprise Associates, Meritech Capital Partners, OrbiMed Advisors and Column Group are driving the performance of CalPERS’ Sacramento Private Equity Partners venture portfolio. Funds from the four partnerships are among the portfolio’s top five performing venture funds. Each advanced nicely in the nine months ended in June, according to a recent portfolio […]
A big gain by Claremont Creek Ventures’ second fund propelled it to the top of the California Public Employees’ Retirement System Golden State Investment Partners’ venture portfolio, displacing Upfront Ventures. The fund, Claremont Creek Ventures II, saw its IRR shoot up to 16% in the pension manager’s most recent portfolio report, dated June 2013. That […]
Many LPs add funds of funds to a portfolio of mostly direct venture investments. Few do what the Florida state pension fund has done: Play venture entirely through funds of funds. The State Board of Administration of Florida has invested $1.4 billion in venture funds of funds since 2002. Results are so far inconclusive. Several […]
The venture investments in the Capital Link Fund of the California Public Employees’ Retirement System made solid gains through the first half of last year with funds from the Column Group, Altos Ventures and Commerce Street Capital leading the way. No doubt this was welcome news to money managers at the CalPERS. The Capital Link […]
The first half of 2013 was a pretty good period for public stocks. It also turned out to be a healthy several months for venture funds, according to the California Public Employees’ Retirement System’s Grove Street Advisors portfolio. Returns improved for 20 of the portfolio’s 36 venture funds during the period, while 14 funds saw […]
Emerging market worries have risen in recent weeks as money raced out of developing economies in the wake of the U.S. Federal Reserve’s decision to ease its monetary stimulus. Turns out venture funds operating in these markets were feeling the pain several months before that. This seems evident from the performance of two emerging market […]
Cleantech valuations continue to slide as the sector’s “out-of-favor” status with venture capitalists doesn’t appear ready to budge. This is clear in the California Public Employees’ Retirement System’s Clean Energy and Technology Fund portfolio, a collection of 14 funds with vintages of 2007 to 2010. It is managed by Capital Dynamics. The performance of the […]