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CalPERS to get out of the venture capital business

The California pension system holds more than $2 billion in venture capital assets, but an investment committee may steer the fund in another direction.

By Sam Gallegos | Updated on August 13, 2012

Silicon Valley and other hotbeds of innovation would wither on the vine without venture capital, that angel-of-mercy investment money that can turn an idea into the next Google or Facebook. 

But now that the biggest pension fund in the U.S. is moments away from curtailing its venture capital adventures, the entire venture capital market could be in for a long cold winter.

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