“UC Ventures is the result of careful evaluation of best practices to develop the most effective investment vehicle to capture the economic value the University of California is creating through its pioneering research,” said UC Chief Investment Officer Jagdeep Singh Bachher. “Our goal is to build upon the technology commercialization efforts at UC while carefully managing potential risk exposures. We are confident an independent UC Ventures will achieve this.”University of California Plans Fund for Campus Startups - WSJ
“In addition to any financial benefits, we see this fund as a potential vehicle for providing resources to support the basic research and talent — among both faculty and students — required to develop innovations that can benefit California and the world,” said UC President Janet Napolitano.
Recent examples of successful UC startups include
Aragon (acquired by Johnson & Johnson in August 2013);
Kite Pharma (IPO in June 2014); and
Seragon (acquired by Genentech in July 2014).
UC Ventures will be a stand-alone, independent investment vehicle structured to operate with a long-term, investment horizon. UC’s Office of the Chief Investment Officer will hold certain key governance rights and help UC Ventures develop its own resident expertise to mitigate risks. The UC Ventures team will have day-to-day investment management responsibilities.
Regents approve venture fund, other projects at meeting | The Daily CalifornianAcademic research is becoming increasingly entrepreneurial. The number of university-launched startup companies topped 800 nationally in 2013, up from just under 600 in 2008, according to a survey by the Association of University Technology Managers, a group that tracks the licensing of research discoveries and innovations.Most major research universities, including Stanford University, New York University and the University of Texas, have created incubators and accelerators to explore commercial uses of research conducted on campus. Several institutions have launched independent funds to invest in their innovations developed on their campuses—though most are smaller than the pool proposed by UC.
University of California creates $250 million venture fund | UTSanDiego.com
The system’s Board of Regents approved the $250 million fund Wednesday, and the program is set to start operating next year.Managers of the UC Ventures fund will scrutinize discoveries emerging from the system’s 10 campuses, assisted by an advisory board of outside experts. The fund will provide capital to commercialize the most promising findings.
These are startups that were formed with the purpose of commercializing a UC San Diego technology. |
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Source: UC system |
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