Drywall Pension Fund

Drywall Pension Fund

Drywall Pension Fund is a defined benefit pension plan headquartered in Long Island City, New York. The fund serves as a retirement vehicle for its members while maintaining an active venture capital allocation program. Unlike many public pension peers that access venture through fund commitments, Drywall operates a direct investment strategy, putting pension assets to work in private technology and growth companies across multiple stages of development. The fund's venture deployment spans seed through late-stage expansion, with a generalist sector approach. It structures investments directly rather than exclusively through fund-of-funds or LP commitments — a posture that aligns more with family office direct-investing models than the typical pension fund approach. The strategy targets early-stage formation capital as well as later-stage growth rounds, giving the fund exposure to the full venture lifecycle. No specific portfolio companies are publicly disclosed. The investment operation runs from a single location in Long Island City. The plan's governance structure — investing directly rather than exclusively through external managers — suggests an internal investment team, though the precise size and leadership of that team remain private. No philanthropic foundations, real-asset arms, or club memberships have been disclosed in connection with the fund. What distinguishes Drywall Pension Fund structurally is its decision to run a direct venture program from a single office without the visible fund-of-funds layer typical of pension venture allocations. Most US public and private defined benefit plans access venture capital through commitments to external GPs. Drywall appears to have internalized this capability, executing direct investments across the startup lifecycle — an architecture more common among endowments and family offices than pension funds.