By David G. Barry
A crypto-focused venture fund was among four commitments
that the Teacher Retirement System of Texas (TRS) made between mid-July
and the end of August.
According to a report issued by TRS, it committed $20 million to CoinFund
Ventures, a $300 million early-stage fund formed by CoinFund. The fund is
focused on investing in so-called web3 companies that have evolved from the
invention of the blockchain.
CoinFund Ventures was one of two new relationships for TRS as the $200 billion
system also invested
$65 million in Greenbelt Capital Partners TRP L.P. Based in Austin,
Greenbelt was formed earlier this year by the energy team of Trilantic North
America. The firm is focused on finding opportunities in the shift away from
fossil fuels.
TRS also invested in new funds from two managers
it has previously backed: Apollo Global Management and Cinven Ltd.
The system committed $400 million to Apollo Investment Fund X and $200 million
to Eighth Cinven Fund LP.
