San Francisco Employees’ Retirement System commits $48m.

US pension fund San Francisco Employees’ Retirement System (SFERS) has approved a capital commitment of up to $48m to two fund from China-based venture capital firm Lilly Asia Ventures (LAV). LAV spun out from US-based drugs maker Eli Lilly in 2019 and SFERS said its retirement board had approved the investment of $32m to LAV Fund VI and another $16m to LAV…

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