CalPERS Commits $30M To V.C.

Jun 23 2006 | 8:43pm ET

The $204 billion California Public Employees Retirement System has committed an additional $30 million to a venture capital fund aimed at helping grow businesses in the Central Valley. The plan first invested in the Central Valley Fund in October 2004 and now has $40 million allocated to the fund.

"The Central Valley is an emerging market of California," said Rob Feckner, president of CalPERS Board of Administration, in a statement. "It is an area that has enormous investment potential and a strong foundation of quality, diverse businesses." The Central Valley Fund targets businesses that are at least five-years-old, generate revenues between $5-50 million and have a strong market niche and management team. 

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