The Teachers Retirement System of Louisiana is among the early backers of the latest venture capital fund by New Enterprise Associates, an early backer of Buzzfeed Inc. and Groupon Inc.
The teachers committed $50 million to the fund earlier this month. Investors have committed roughly $2.6 billion to the new fund, according to Bloomberg News. NEA oversees $16 billion in capital, including the new fund total, and invests in technology, health care and energy companies.
The Teachers Retirement System reported its investments returned close to 20 percent for 2014. The teachers system has $17 billion in assets.