US pension funds have earned double-digit VC returns for decades. European funds can too.
Built on Europe's first-of-its-kind research into pension fund attitudes to venture capital, designed to give you the knowledge, frameworks and confidence to evaluate, structure and advocate for a VC allocation inside your fund.
What US peers allocate to private assets, including VC
Typical return multiple for top-quartile VC funds over a 10-year horizon. The upside available to funds that build the knowledge to access it.
Average European pension VC allocation today.
Additional annual VC capital unlocked by a 1–2% European pension shift
Every concern we address came from pension fund professionals who had the same one.
Module I
Groundwork for understanding Venture Capital (VC) as a distinct asset class, focusing on its operational mechanics, cost structures, and its role within the evolving landscape of pension fund consolidation.
Module II
Practical implementation and management of Venture Capital investments, specifically focusing on liquidity, operations, and risk perception.
Contributors
The findings reflect the voices of experts across pensions, policy, and venture who generously contributed their experiences and perspectives. Their insights shape a clearer picture of the opportunities and challenges ahead.
If your fund has not yet allocated to VC - this is where to start.
Most pension funds are new to VC. Start with the knowledge your role actually needs.
Investment Committee Members
Get enough working knowledge of VC to evaluate it properly when it comes to the table, and ask the questions that matter.
CIOs & Asset Allocators
Understand what VC would actually add to your portfolio - return profile, correlation, sizing logic, before deciding whether to pursue it further.
Pension Officers & Fund Executives
Build the vocabulary and working knowledge to lead this conversation inside your organisation, with your committee, your consultants, and potential managers.
Trustees & Independent Advisers
Understand the risk mechanics and governance implications well enough to provide effective oversight if VC allocation comes before your board.
DB & DC Scheme Teams
Understand how VC fits against your specific liability structure, before committing further time or resource to evaluating it.
LGPS Officers
A first look at how other public funds are approaching VC, what consolidation means for access, and what the current UK regulatory environment permits.