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Delaware Public Employees parks $35 million in 2 Drive Capital funds

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Delaware Public Employees’ Retirement System, Dover, committed up to $35 million to Drive Capital Overdrive Fund II and up to $25 million to Drive Capital Fund IV.

The $14.1 billion pension fund’s investment committee approved the commitments to the venture capital funds at its June 8 meeting, recently released meeting minutes show.

The pension fund previously committed up to $35 million to Overdrive Fund I and up to $15 million to Drive Capital Fund III in 2019.

Officials at the system could not be immediately reached for further information.