San Francisco Employees’ Retirement System commits $48m.
US pension fund San Francisco Employees’ Retirement System (SFERS) has approved a capital commitment of up to $48m to two fund from China-based venture capital firm Lilly Asia Ventures (LAV).
LAV spun out from US-based drugs maker Eli Lilly in 2019 and SFERS said its retirement board had approved the investment of $32m to LAV Fund VI and another $16m to LAV Fund VI Opportunities.
LAV Fund VI is raising $900m while and LAV Fund VI Opportunities is targeting $450m, the firm revealed in two filings with…
