US pension fund LACERA to commit $100m to Chinese biomedical VC firm LAV

US pension fund LACERA to commit $100m to Chinese biomedical VC firm LAV

Laboratory equipment. Photo: Pixabay

US retirement fund manager Los Angeles County Employees Retirement Association (LACERA) has approved a capital commitment of up to $100 million to two investment vehicles launched by Lilly Asia Ventures (LAV), a China-based biomedical venture capital (VC) firm.