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New Hampshire commits $25 million to venture capital fund

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New Hampshire Retirement System, Concord, committed $25 million to Top Tier Venture Velocity Fund 4.

The $11.3 billion pension fund’s independent investment committee approved the commitment to the secondary venture capital fund of funds managed by Top Tier Capital Partners at its Sept. 24 meeting, said Marty Karlon, pension fund spokesman, in an email.

NHRS previously committed $25 million each to the two prior Top Tier Venture Velocity funds in 2019 and 2017.

As of March 31, the pension fund’s actual allocation to alternative assets was 17.7%.