The fund’s strategic and impact-oriented LPs include big pharma names such as Pfizer, Bristol Myers Squibb, AARP and Alzheimer’s Research UK, which are excited by improved scientific understanding of dementia that promise to increase clinical trial successes.
The fund, which is targeting €125m, will focus on early-stage start-ups across Europe operating in sectors such as cybersecurity, information superiority, robotics, AI, autonomous systems and space technology.
Greycroft, Baroda Ventures and Mercato Partners posted significant gains in the MNTN offering, while Insight Venture Partners, Atomico and 11.2 Capital are among the big winners for Hinge.
The firm has invested in Coupang, Carvana, Databricks, Flipkart, Discord, Stripe and Wiz.
Besides Sequoia, LPs include Level Ventures, Cendana Capital, Vintage Investment Partners, Marktlink Capital, Spring Creek, Isomer Capital and Nexus Bay.
The new fund, which is 25% larger than its debut, is backed by Isomer Capital, Exor NV's Lingotto, Fondazione Compagnia di San Paolo, Grinnell College's Endowment, RSJ Investments and Aldea Ventures, Lunar says.
With peers facing substantial portfolio challenges, the $30bn endowment is urging restraint in what its leaders say is an environment for endowments akin to 2008’s financial crisis.
Leyla Holterud 'is the ideal leader to scale our European platform and the bridges we have been building between Europe and the rest of the world for well over a decade,' says Vintage co–managing partner Asaf Horesh.
The South Korea-based pension is seeking up to 10 venture capital fund managers to deploy 152bn won into domestically focused vehicles.
The $88bn pension system is 'exercising a degree of caution' in the US, according to head of global PE Lori Hall-Kimm.