IS
LP profile
Indiana State Teachers' Retirement System
Pension fund · Founded 1921 · Indianapolis, United States
28
VC firms backed
$10B
AUM
~$200M
Allocated to VC (est. 2%)
01 · Background
Who Indiana State Teachers' Retirement System is.
- Historical Background
- The Indiana State Teachers' Retirement Fund (TRF) was established in 1921 by an act of the Indiana General Assembly. In 2011, the Indiana General Assembly integrated the management of the TRF and the Public Employees' Retirement Fund (PERF) under a single entity, the Indiana Public Retirement System (INPRS), to streamline administration.
- Source of Capital
- The system's capital is sourced from the pension contributions of its members. Members include educators in Indiana's public schools, as well as some employees of charter schools, specific educational initiatives, and public universities.
- Major Events
- The most significant organizational event was the 2011 integration of the TRF's management into the newly formed Indiana Public Retirement System (INPRS), which also oversees the Public Employees' Retirement Fund.
- Allocation Strategy
- The fund invests across a diversified range of asset classes, including public equity, private equity, fixed income, real estate, and absolute return strategies. As of its 2023 investment policy, the fund's target allocation for private equity, which includes venture capital, is set at 17% of the total portfolio. The private equity portfolio is diversified across geography, with a primary focus on North America, and includes investments in buyout, growth equity, and venture capital funds.
02 · Fund commitments
The funds Indiana State Teachers' Retirement System backs.
Indiana State Teachers' Retirement System is a limited partner in 28 funds. 11 of them place in the Power Law Investor Ranking; those lead, best-ranked first.
New Enterprise Associates
#8 Power Law
Khosla Ventures
#12 Power Law
Insight Partners
#23 Power Law
TCV
#67 Power Law
IVP
#84 Power Law
True Ventures
#137 Power Law
DCM
#154 Power Law
SAIF Partners
#159 Power Law
Warburg Pincus
#233 Power Law
Bain Capital
#239 Power Law
Trinity Ventures
#283 Power Law
Advanced Technology Ventures
Aisling Capital
Forbion Capital Partners
03 · Allocation
How Indiana State Teachers' Retirement System’s fund book is spread.
The 28 funds Indiana State Teachers' Retirement System backs, by where the manager is headquartered and how many funds that manager has raised.
Where those managers are based
By fund headquarters.
- North America 2693%
- Europe 14%
- Rest of world 14%
United States 26 · Hong Kong 1 · Netherlands 1
How established those managers are
Managers grouped by how many funds they have raised — across the 17 of 28 with a fund history on record.
Emerging funds · 5
Established funds · 12
4
1
1
2
3
2
4
1
5-6
3
7-9
4
10-14
2
15+
Funds raised by the manager
04 · Other LPs
Other LPs.
Other pension funds in the Power Law LP ranking, closest to Indiana State Teachers' Retirement System by combined power-law score — North America first, then the nearest worldwide.
🇺🇸
Indiana Public Employees' Defined Benefit Account
$44B AUM
34 VC funds backed
🇺🇸
Citigroup Pension Plan
$9.8B AUM
38 VC funds backed
🇺🇸
Boy Scouts of America Master Pension Trust - Boy Scouts of America Retirement Plan For Employees
$1.4B AUM
10 VC funds backed
🇺🇸
Kaiser Permanente 401(k) Retirement Plan
$20B AUM
8 VC funds backed
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State of Wisconsin Investment Board
$156B AUM
137 VC funds backed
🇺🇸
Children's Hospital Corporation Pension Plan
$1.0B AUM
17 VC funds backed
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Sacramento County Employees' Retirement System
$13B AUM
54 VC funds backed
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Physicians' Organization at Children's Hospital Retirement Plan Group Trust
14 VC funds backed