The University of Texas Management Company’s latest batch of venture investments is heavy on early stage technology funds run by such managers as the Foundry Group, Union Square Ventures, True Ventures and IA Ventures.
The endowment committed $337.5 million to 11 funds in 2010 and 2011, according to its November portfolio report. Nine focus on technology or allocate some portion of their fund to technology. Two zero in on health care.
More than half of the new venture investments–6, to be exact–target early stage investing while three focus on later stage and two have a diversified approach, an analysis of the report shows.
In last Monday’s slideshow, we pointed out that UTIMCO last year purchased a 30% stake in Roger Ehrenberg’s second fund, IA Ventures Strategies Fund II, and a 23.33% slice of True Ventures III. This week we list all its commitments of the past two years, smallest to largest, with money called and portfolio values. We also list IRRs, though returns are largely uninformative at such an early point in a fund’s life.
It’s an impressive line up. The biggest venture commitment of the past two years went to the Foundry Group’s Foundry Venture Capital 2010 fund followed by the 2011 Sofinnova Venture Partners VIII and Sante Ventures’ 2011 Sante Health Ventures II.
The slideshow based on data in the portfolio report is below.
Photo of the digital world from Shutterstock.
Firm: Correlation Ventures
Type: Health Care, Technology
Commitment: $12.5 million
Cash In: $1.9 million
Portfolio Value: $1.6 million