The Regents of the University of California
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What they invest in
from 3 of 11 portfolio companiesDeep Tech ×2Healthtech ×2AI & Machine Learning ×1Biotech ×1Hardware ×1Medical Devices ×1Robotics ×1
HQs:United States×3
Investments · 11 tracked
founders shown can be your intro pathBow Capital is a University of California ecosystem venture fund that backs early-stage founders building AI for physical, industrial, and biological applications, including robotics, defense, healthcare, and logistics.
AI & Machine LearningDeep TechRoboticsMenlo Park, US
Vivek Ranadivé(Founder & Managing Director)
Correlia Bio develops the PIXI platform, a benchtop automated immunoassay system that uses proprietary microfluidic gel technology to quantify proteins from samples as small as 1 uL.
BiotechDeep TechHardwareHealthtechMedical DevicesSan Francisco, US
Akwasi Apori(Founder)inKursad Araz(Founder)inSamuel Tia(Founder)in
Co-investorsBeresford VenturesBlue Bear VenturesCota CapitalEndurance28Pallasite VenturesPangaea Ventures Us Inc.+13 more
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Annual Report 2024-2025CleopatraRX DevelopmentDraft Release Ai Futures Lab.PdfJagdeep Singh BachherSkip to Main ContentStaff DirectoryThe UC Investments WayUC InvestmentsUC Retirement
Fund commitments · as a limited partner · 506
as of Jun 2025Private-fund positions this organization discloses in its own public filings and reports — $25B committed, $15.3B reported NAV. Returns are this LP's own position, net of fees.
| Fund | Manager | Vintage | Committed | NAV | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|---|---|
| Topanga Private Opportunities | Topanga Private | 2017 | $800M | $847.1M | 11.4% | 1.61x | 0.66x |
| 1868 Univeritas Fund | 1868 Univeritas | 2017 | $582.5M | $661.3M | 9.3% | 1.26x | 0.20x |
| Blackstone Strategic Partners IX | The Blackstone Group | 2021 | $400M | $299.1M | 21.0% | 1.35x | 0.13x |
| Blackstone Capital Partners Asia II, L.P. | The Blackstone Group | 2022 | $350M | $198.6M | 39.9% | 1.72x | 0.31x |
| THOMA BRAVO XIV LP | Thoma Bravo | 2020 | $350M | $351.4M | 7.0% | 1.25x | 0.32x |
| Thoma Bravo Fund XIII | Thoma Bravo | 2018 | $325M | $386.4M | 22.8% | 1.82x | 1.01x |
| Sequoia Capital Global Growth Fund III | Sequoia Capital | 2018 | $322M | $488.4M | 18.3% | 2.11x | 0.54x |
| BPEA VIII | BPEA EQT | 2021 | $305M | $321.6M | 10.9% | 1.10x | 0.01x |
| Certares Holdings | Certares Holdings | 2018 | $275M | $319.6M | 8.7% | 1.39x | 0.27x |
| Apollo Catalina (Private Equity) | Apollo | 2017 | $267.6M | $170.8M | — | 0.99x | 0.12x |
| TSG 9 | TSG | 2021 | $255M | $113.8M | -5.6% | 0.94x | 0.05x |
| Blackstone Capital Partners Asia I | The Blackstone Group | 2017 | $250M | $252.1M | 24.1% | 1.92x | 1.03x |
| Blackstone Capital Partners Asia, L.P. | The Blackstone Group | 2018 | $250M | $119.1M | — | 1.10x | 0.05x |
| Blackstone Capital Partners VIII LP | The Blackstone Group | 2021 | $250M | $248.8M | 10.0% | 1.26x | 0.21x |
| Blackstone Strategic Partners VIII | The Blackstone Group | 2019 | $250M | $156.9M | 21.3% | 1.56x | 0.83x |
| Bow Ventures Fund I | Bow Ventures | 2016 | $250M | $235.5M | -1.0% | 0.95x | 0.00x |
| Further Global Capital II | Further Global | 2021 | $250M | $187.3M | 19.0% | 1.42x | 0.13x |
| RNT Associates | TA Associates | 2016 | $250M | $149M | 1.8% | 1.11x | 0.50x |
| Sycamore Partners III | Sycamore | 2018 | $250M | $274.4M | 15.2% | 1.46x | 0.54x |
| Arsenal Capital Partners VI | Arsenal | 2021 | $225M | $101.8M | -9.7% | 0.84x | 0.02x |
| Clearlake Capital Partners VII | Clearlake Capital Group | 2021 | $205M | $164.1M | 5.0% | 1.12x | 0.00x |
| Blackstone Strategic Capital Holdings | The Blackstone Group | 2014 | $200M | $245.4M | 14.5% | 1.88x | 0.71x |
| EQT IX | EQT | 2019 | $200M | $256.9M | 10.2% | 1.36x | 0.19x |
| Further Global Capital I | Further Global | 2018 | $200M | $236.9M | 9.5% | 1.36x | 0.56x |
| K5 Private Investors, L.P. | K5 Private | 2021 | $200M | $219.7M | 18.2% | 1.59x | 0.06x |
| Thoma Bravo Growth I | Thoma Bravo | 2021 | $200M | $136.2M | -6.0% | 0.83x | 0.04x |
| Welsh, Carson, Anderson & Stowe III | Welsh, Carson, Anderson & Stowe | 1997 | $200M | — | 13.0% | 1.72x | 1.72x |
| BPEA VII | BPEA EQT | 2018 | $175M | $170.6M | 20.2% | 1.71x | 0.75x |
| Warburg Pincus Private Equity X LP | Warburg Pincus | 2007 | $175M | $33M | 9.2% | 1.69x | 1.52x |
| Warburg Pincus Private Equity X, L.P. Venture Capital/LBO | Warburg Pincus | 2007 | $175M | $90.1M | 7.7% | 1.46x | 0.94x |
| Sequoia Private Equity Fund | Sequoia Capital | 2012 | $163M | $167.5M | 32.0% | 2.25x | 1.42x |
| Warburg Pincus IX | Warburg Pincus | 2005 | $160M | $5.3M | 9.8% | 1.71x | 1.68x |
| Warburg Pincus Private Equity IX, L.P. Venture Capital/LBO | Warburg Pincus | 2005 | $160M | $21.5M | 10.4% | 1.77x | 1.63x |
| Bregal Sagemount Equity III | Bregal Sagemount | 2019 | $150M | $150.1M | 12.3% | 1.42x | 0.31x |
| GI Partners Fund VI, L.P. | GI Partners | 2021 | $150M | $151.6M | 9.5% | 1.30x | 0.00x |
| EQT VIII | EQT | 2018 | $146.7M | $141.1M | 20.6% | 1.84x | 0.98x |
| Apollo Fund IX | Apollo | 2017 | $135M | $126.4M | 15.2% | 1.48x | 0.59x |
| Arsenal Capital Partners V LP | Arsenal | 2019 | $135M | $134M | 6.8% | 1.32x | 0.33x |
| H.I.G. Middle Market LBO Fund III | H.I.G. Capital | 2019 | $135M | $104.3M | 8.6% | 1.25x | 0.47x |
| Blackstone Capital Partners Fund V | The Blackstone Group | 2005 | $125M | $122.6M | 5.9% | 1.35x | 0.33x |
| Blackstone Capital Partners Sub-Fund V | The Blackstone Group | 2005 | $125M | $34.6M | 8.2% | 1.68x | 1.40x |
| Olympus Growth Fund VII | Olympus Partners | 2017 | $125M | $139.9M | 26.4% | 1.92x | 1.00x |
| HongShan China Growth VI | HongShan Capital Group | 2020 | $121M | $122.9M | 1.2% | 1.04x | 0.01x |
| Blackstone Capital Partners V LP | The Blackstone Group | 2006 | $120M | $143.7K | 7.7% | 1.58x | 1.58x |
| H.I.G. Europe Middle Market LBO Fund | H.I.G. Capital | 2020 | $117.4M | $89M | 22.3% | 1.36x | 0.33x |
| AIG GE Capital Latin America | AIG GE | 1997 | $115M | — | -0.7% | 0.96x | 0.96x |
| TPG Growth IV LP | TPG | 2018 | $115M | $90.3M | 14.3% | 1.64x | 0.99x |
| Bain Sankaty Credit Opportunities IV, L.P. | Sankaty | 2008 | $105M | $15.5M | 11.5% | 1.43x | 1.27x |
| HongShan GGF III China Annex | HongShan Capital Group | 2020 | $104.7M | $108.5M | 3.0% | 1.09x | 0.02x |
| AIG Asian Infrastructure Fund II | AIG Global Investment Group | 1998 | $100M | — | 7.1% | 1.28x | 1.28x |
| Arsenal Capital Partners IV | Arsenal | 2016 | $100M | $53.9M | 16.0% | 1.68x | 1.27x |
| Bow Ventures Fund II | Bronze Venture | 2021 | $100M | $61.1M | 0.0% | 1.00x | 0.00x |
| DCP I | DCP Capital | 2018 | $100M | $70.1M | 5.8% | 1.17x | 0.59x |
| Genstar Capital Partners V, LP | Genstar Capital | 2007 | $100M | — | 15.2% | 1.89x | 1.89x |
| Kelso Investment Associates VIII | Kelso | 2007 | $100M | — | 5.8% | 1.25x | 1.25x |
| Madison Dearborn Capital Partners V, L.P. | Madison Dearborn Partners | 2006 | $100M | $1.8M | 7.2% | 1.45x | 1.44x |
| Madison Dearborn Capital Partners VI, L.P. | Madison Dearborn Partners | 2008 | $100M | $10.2K | 23.3% | 1.97x | 1.97x |
| Pine Brook Capital Partners II | Pine Brook | 2012 | $100M | $88.5M | 1.2% | 1.04x | 0.31x |
| Senior Credit Fund | Senior | 2014 | $100M | — | 8.8% | 1.27x | 1.27x |
| The Rise Fund, L.P. | The Rise Fund | 2017 | $100M | $91.7M | 9.4% | 1.43x | 0.63x |
| Thoma Bravo Discover III | Thoma Bravo | 2020 | $100M | $143M | 11.4% | 1.47x | 0.05x |
| TPG Capital VIII | TPG | 2018 | $100M | $118M | 17.2% | 1.54x | 0.43x |
| Welsh, Carson, Anderson & Stowe VII, LP | Welsh, Carson, Anderson & Stowe | 1995 | $100M | — | 17.7% | 2.18x | 2.18x |
| WLR Recovery Fund IV | WLR Recovery | 2007 | $100M | — | -4.6% | 0.87x | 0.87x |
| Sequoia Capital Global Growth Fund III - U.S. | Sequoia Capital | 2020 | $98.8M | $97.9M | 5.2% | 1.19x | 0.15x |
| Olympu.< Growth Fund V, LP | Olympus Partners | 2007 | $98M | $94K | 18.1% | — | 0.85x |
| Sequoia Capital (Legacy Funds) | Sequoia Capital | 1999 | $96.6M | $217.1M | 17.4% | 5.44x | 3.19x |
| Warburg Pincus IX- VC-60 | Warburg Pincus | 2005 | $96M | $5.6M | 10.2% | 1.75x | 1.70x |
| Berkshire Fund IX LP | Berkshire | 2017 | $95M | $115M | 13.5% | 1.69x | 0.67x |
| Perseus Partners VII | Perseus | 2006 | $90.4M | — | -38.6% | 0.32x | 0.32x |
| AIG Asian Infrastructure Fund | AIG Global Investment Group | 1994 | $75M | — | -6.0% | 0.74x | 0.74x |
| Bain Capital Fund X, L.P. | Bain Capital | 2007 | $75M | $10.9M | 9.5% | 1.56x | 1.43x |
| Bregal Sagemount COF II | Bregal Sagemount | 2018 | $75M | $25M | — | 1.04x | 0.49x |
| Column Group III | The Column Group | 2016 | $75M | $37.7M | 7.7% | 1.25x | 0.78x |
| Olympus Growth Fund V, LP | Olympus Partners | 2007 | $75M | $5.3M | 16.0% | 1.86x | 1.81x |
| Thoma Bravo Discover Fund II | Thoma Bravo | 2018 | $75M | $85.7M | 21.9% | 2.04x | 1.10x |
| TSG8 | TSG8 | 2018 | $75M | $66.1M | -1.9% | 0.94x | 0.04x |
| Warburg Pincus Private Equity X, LP Venture Capital/LBO | Warburg Pincus | 2007 | $75M | $89M | 7.6% | — | 0.35x |
| Column Group IV | The Column Group | 2019 | $74M | $58.3M | -1.8% | 0.95x | 0.07x |
| Lindsay Goldberg III LP | Lindsay Goldberg | 2008 | $70M | — | 8.5% | 1.20x | 1.20x |
| Lindsay, Goldberg & Bessemer III, L.P. | Lindsay Goldberg | 2008 | $70M | $49.6M | 8.8% | 1.24x | 0.31x |
| H.I.G. Europe Capital Partners III | H.I.G. Capital | 2020 | $66.9M | $59M | 47.4% | 2.07x | 0.45x |
| Sun Capital Partnc"rs V, L.P. | Sun Capital Partners | 2007 | $66.7M | $62.6M | 9.2% | — | 0.46x |
| Sun Capital Partners V, L.P. | Sun Capital Partners | 2007 | $66.7M | $13.4M | 1.4% | 1.07x | 0.88x |
| Shamrock Capilal Growth Fund 111, L.P. | Shamrock Capital | 2010 | $65M | $60.3M | 14.4% | 2.39x | 1.44x |
| Vcstar Capital Partners V, L P | VCStar Capital Partners | 2005 | $64M | $45.4M | 5.5% | — | 0.92x |
| Warburg Pincus IX- BO-40 | Warburg Pincus | 2005 | $64M | $3.8M | 9.5% | 1.69x | 1.63x |
| Arsenal Capital Partners II, L P | Arsenal | 2006 | $63M | $43.2M | 20.5% | 2.85x | 2.16x |
| Arsenal Capital Partners II, L.P. | Arsenal | 2006 | $63M | $20.6M | 20.2% | 2.61x | 2.51x |
| GGV VIII | Notable Capital | 2020 | $60M | $52M | 2.0% | 1.06x | 0.02x |
| Khosla Ventures Fund III, L.P. | Khosla Ventures | 2009 | $60M | $57.4M | 6.2% | 1.35x | 0.37x |
| Khosla Ventures III | Khosla | 2009 | $60M | $17.8M | 11.2% | 1.97x | 1.67x |
| Khosla Ventures IV | Khosla Ventures | 2011 | $60M | $52.8M | 22.0% | 4.07x | 3.17x |
| Khosla Ventures V | Khosla Ventures | 2014 | $60M | $80.1M | 19.9% | 3.37x | 1.98x |
| SG Growth Partners IV | — | 2017 | $60M | $142.2M | 27.2% | 2.52x | 1.13x |
| SKM Equity Fund II | SKM | 1997 | $60M | — | 1.2% | 1.15x | 1.15x |
| The SKM Equity Fund II, L.P. | SKM | 1996 | $60M | $34.8M | 1.2% | 1.16x | 0.48x |
| W Capital Partners II, LP | Riva Capital | 2007 | $60M | $4.1M | 10.4% | 1.40x | 1.33x |
| W Capital Partners III LP | W Capital Partners | 2012 | $60M | $36.7M | 10.0% | 1.39x | 0.71x |
| Warburg Pincus Private Equity IX, LP VentureCapital/LBO | Warburg Pincus | 2005 | $60M | $9.2M | 10.4% | — | 4.41x |
Largest 100 of 506 disclosed positions. Source: UC Regents PE IRR Report - pe_irr_06-30-25. TVPI = total value / paid-in; DPI = distributions / paid-in.
Frequently asked questions
- How many investments has The Regents of the University of California made?
- The Regents of the University of California has 11 tracked investments.







