Venture capital

VC investor Ryan Moore has closed on $78.5m for Revenant Ventures’ debut fund, a regulatory filing shows.

The insurer had shopped a portfolio of funds and co-investments with a net asset value of $1.8bn, Secondaries Investor understands.

The firm’s latest vehicle has made 12 investments to-date.

Ohio’s $23.4bn public school employees’ pension is the latest LP to invest in the fund, committing $50m.

The RMB secondaries market has concluded its first full cycle. While there are opportunities to be had, there are risks to be overcome to ensure sought-after returns, writes Nebula Advisors’ Stanley Geng.

The SaaS provider has generated large returns following Summit’s initial investment, with LPs given a range of options to roll or cash out during the CV process, Secondaries Investor understands.

‘The last several years have been very volatile… The fact that we still saw this record volume is remarkable,’ Jefferies’ Scott Beckelman tells Secondaries Investor.

The continuation fund houses eight assets, with five to six making up the bulk of net asset value, Secondaries Investor understands.

The pension plan is hoping to reduce its allocation to buyout assets, increase its liquidity and cull ‘inactive’ GP relationships.

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