CalPERS is considering giving blockchain a chance

Board members of the California Public Employees’ Retirement System (CalPERS) recently participated in a discussion on blockchain technology.

The meeting is also high-profile given the size of CalPERS, which manages more than $300 billion in assets, making it the largest public retirement fund in the United States.

Interestingly, CalPERS itself has begun to have some exposure to the Bitcoin and blockchain industry, albeit indirectly.

In 2009, the pension fund invested $200 million in Kholsa Ventures, a Silicon Valley venture capital fund, and gave Kholsa an additional $60 million as seed funding. Just two years ago, Kholsa led a round of financing for blockchain startup Chain, and the fund has also invested in Blockstream, 21 Inc and BlockScore.

However, it remains to be seen whether CalPERS will invest directly in the asset. However, recent reports suggest that the fund has not had much luck with venture capital. The poor economic conditions and struggling overall performance may dampen its appetite for riskier investments.