Reddit founder presents to New Mexico Investment Council as it commits $320m to private equity

Ohanian’s venture capital firm, 776, secured a $30m investment for its early-stage technology funds, 776 Fund III and 776 Arete Fund II. The firm has backed companies such as QuickNode, Polygon, and Yuga Labs. This highlights its focus on high-growth opportunities.

The $60bn SIC fund, which currently manages $4.4bn in private equity assets, is targeting an increase to 15% of its portfolio, or approximately $9bn. Private equity investments returned 4.17% over the past year.

Among its latest commitments, SIC allocated $40m to Bessemer Venture Partners India II Institutional, marking its first investment with the firm. The fund focuses on early-stage technology companies in India. Frazier Life Sciences XII secured a $50m investment for early-stage biopharmaceutical ventures, following SIC’s previous commitment to the Frazier Life Sciences Public Fund last June.

In aerospace, defense, and government services, Stellex Capital Partners III received $100m. An additional $50m was committed to a related co-investment vehicle. Longshore Capital Fund II secured $50m for lower middle-market buyouts in North America. The Chicago-based firm, spun out of LaSalle Capital in 2020, is raising $275m for its second fund. It will focus on revenue cycle management, tech-enabled BPO, managed services, loyalty/incentives, and human capital services.

These investments reflect SIC’s strategy to diversify its private equity portfolio while increasing exposure to high-growth sectors and emerging markets.

Source: Alternatives Watch

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