Lawrence Aragon

Retired vice admiral Mat Winter, former Angelo Gordon partner Allison Binns and former Clayton Dubilier & Rice partner Michael Dubilier have joined Danu as general partners.

Fund I’s investors include emerging technology companies as well as institutional investors, foundations, endowments, family offices and strategic investors.

Ballast Equity Partners Fund I was anchored by the New Mexico Educational Retirement Board and the State of Wisconsin Investment Board, which each committed $30m.

Firm founder Jeff Clavier also announced he is taking a 'step back from day-to-day management,' with Andy McLoughlin now serving as Uncork's sole managing partner.

Yup Kim, CIO of Texas Municipal Retirement System, is a fan of venture capital and says the $44bn public pension may invest 'several hundreds of millions' per year in the asset class.

The new CIO of the $44bn public pension system is pushing hard into PE, and VC is a big part of his plan.

LPs include family offices of digital entrepreneurs, industrial investors and former executives from businesses such as Yahoo Marketplace and Prisma AI, the firm says.

Laube and Hamilton will provide strategic counsel to TTV Capital’s portfolio companies based on their experience scaling early-stage fintech companies.

Fund II raised 15% more than Fund I and the fundraising process appears to have taken just two months.

Other investors in Lakestar's second growth fund include family offices Italmobiliare and KOEHLER Group, government-related investment organization PFR Ventures, Sidley Austin Master Pension Trust and the Grantham Foundation.