New Jersey Division of Investment
Public pension plan Still adding venture funds
New Jersey Division of Investment reports 10 venture funds, $565M in all.
Holdings are from its report as of May 31, 2026. “Still adding venture funds”: its newest venture fund is a 2025 vintage, within 3 years of 2026.
The numbers
| Vintage | Venture funds |
|---|---|
| 2012 | 2 |
| 2013 | 0 |
| 2014 | 1 |
| 2015 | 0 |
| 2016 | 0 |
| 2017 | 0 |
| 2018 | 0 |
| 2019 | 0 |
| 2020 | 0 |
| 2021 | 0 |
| 2022 | 0 |
| 2023 | 3 |
| 2024 | 1 |
| 2025 | 3 |
Updates from New Jersey Division of Investment
All of New Jersey Division of Investment’s updates on Hottub VC
Largest venture holdings
From its report as of May 31, 2026.
| Fund, as reported | Manager | Vintage | Commitment |
|---|---|---|---|
| Institutional Venture Partners XVIII, L.P. | IVP | 2024 | $100M |
| Khosla Ventures Opportunity II, L.P. | Khosla Ventures | 2023 | $100M |
| TCV VIII, L.P. | TCV | 2014 | $100M |
| Khosla Ventures VIII, L.P. | Khosla Ventures | 2023 | $80M |
| Khosla Ventures IX. L.P. | Khosla Ventures | 2025 | $40M |
In the app: 5 more venture funds, 7 funds of funds. Open New Jersey Division of Investment in LP Intelligence for every fund it holds and how to reach it, or find the LPs that back firms like yours.
How it invests
Selective: it backs fewer of its managers again than three in four LPs that report fund by fund, so each fund is won on its own. It backed 63% of its managers again when they raised a later fund (41 chances), and stays with a manager 8.1 years on average.
From its own report and published commitments. How it invests in LP Intelligence: whether it kept committing through 2022–23, how much goes to managers on Fund I–III, and what it committed to lately.
Recent commitments
| Date | Fund, as published | Manager | Commitment | Source |
|---|---|---|---|---|
| January 2026 | Barings NJ Emerging MP II | — | $500M | Document |
| December 2025 | Coller International Partners IX-G, 2 L.P | — | $90M | Document |
| December 2025 | CIP IX-G Strategic Co-Investment Vehicle 2, L.P. | — | $30M | Document |
| December 2025 | NB/NJ Custom Investment Fund IV, L.P. | — | $300M | Document |
| November 2025 | Strategic Value Special Situation VI | — | $100M | Document |
| September 2025 | BPEA Private Equity Fund IX, SCSp | — | $200M | Document |
| August 2025 | Coller International Partners IX-G, L.P | — | $150M | Document |
| August 2025 | CIP IX-G Strategic Co-Inv Vehicle, LP | — | $50M | Document |
| July 2025 | Khosla Ventures IX. L.P. | Khosla Ventures | $40M | Document |
| July 2025 | Khosla Ventures Opportunity III. L.P. | Khosla Ventures | $40M | Document |
| July 2025 | Khosla Ventures Seed G. L.P. | Khosla Ventures | $20M | Document |
| June 2025 | Bain Capital Fund XIV, L.P. | — | $200M | Document |
The latest 12 of 14 commitments from the last 24 months to private equity and venture funds, as New Jersey Division of Investment published them. Dates are the month only: the plan gives no day. Amounts are commitments as the plan reports them. What this plan publishes · every plan’s recent commitments.
LPs nearby
Within 100 miles, by city: a trip to one can take in the others.
- Osullivan Foundation Trust DTD 122299
- Rita Allen Foundation Inc
- George H and Estelle M Sands Foundation
- Bright Horizon Foundation
- The Charlotte W Newcombe Foundation
- Many Voices Foundation
- Raj Family Private Foundation
- The Albert M Greenfield Foundation
355 LPs within 100 miles in all: see them on the map.
How to submit
It takes submissions from fund managers. See how to submit, on its site.
Emerging-manager program: Emerging Managers Program, run by Barings (private equity); GCM Grosvenor (real estate and private credit).
In its words: “A platform of separately managed accounts that "source, conduct due diligence on, invest in, and oversee allocations to emerging managers", starting with up to $250 million with Barings for small to mid-size growth and buyout funds. "For Private Equity emerging manager inquiries or wish to forward materials, please submit your request to njopportunities@barings.com.”
Read from its own pages on October 19, 2026: nj.gov/treasury/doinvest, nj.gov/treasury/news/2022/04272022.shtml. Programs change; its site is the record.
About this data
Holdings as this LP reports them, fund by fund. Amounts are its commitment to each fund. Fund performance it reports is on each firm’s page. As of May 31, 2026. Source: New Jersey Division of Investment Reporting Package: Alternative Investments, Common Pension Funds E and A (Private Equity). Funds are linked to a manager by name; a match can be wrong, and the original filing is the record. How Hottub reads its sources.
The Division's schedule has no IRR column, so IRR is blank. TVPI is the Division's printed Total Value Multiple (total value / amount contributed; blank where nothing has been contributed) and total value is its Total Value column (current market value + total distributed); DPI = total distributed / amount contributed is computed. Per the Division: amount contributed is not adjusted for recallable distributions and includes returned unused capital; total distributed includes recallable proceeds; market values are the most recent quarterly values reported by the general partners, adjusted for cash flows through month-end. The Division lists an inception date rather than a vintage year; its year is used as the vintage (blank for 1 fund listed without one). 11 euro-denominated funds are shown in US dollars at the Division's month-end exchange rate. Private Equity sections of both schedules as classified by the Division (including co-investment, secondaries, distressed and mezzanine vehicles); Private Credit, Real Estate, Real Assets and Hedge Funds are not imported. Strategy subtotals and parent rows of multi-tranche vehicles are not imported; each tranche is listed. The Division's subtotals include commitments that it does not list as rows, which are therefore missing here: $600,000,000 under "Distressed Debt" in Common Pension Fund E.
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