The Ventura County Employees Retirement Association (VCERA), based in Ventura, US, oversees $8.5 billion in assets, with 18.3% allocated to private equity, exceeding its 18% target. VCERA recently approved two commitments totaling $20 million: $12 million to Drive Capital Overdrive Fund III, focusing on TMT sector venture capital, and $8 million to Drive Capital Fund V, also targeting TMT investments. The Overdrive Fund III aims to raise $810 million, while Fund V has a target of $540 million. VCERA’s previous commitment to Drive Capital’s predecessor fund was $10 million, demonstrating its ongoing investment strategy in these sectors.