Planeteer Capital closed its debut fund with anchor investments from an Ivy League university endowment and Mike Schroepfer, former CTO of Meta and a partner at Gigascale Capital, after pitching more than 400 potential LPs.
VCs and corporate backers own shares currently worth nearly $10bn for VC-backed companies that have gone public this year – minus the holdings for outliers Circle and CoreWeave, which are valued at $35bn.
The $82bn Southern California pension’s staff are expressing confidence in the direction of the portfolio despite relinquishing a spot as a top performer from early PE program.
The former angel group raised its oversubscribed debut seed fund to complement its existing growth syndicates.