The University of California has announced a new $250 million venture fund that will invest in startups emerging from “the University of California system.” This fund will target not only students, but also professors and alumni of at least 10 UC schools. The emphasis in particular would be on startups that focus on technology, energy, life sciences, material sectors, and agriculture.
Vivek Ranadive, the owner of the Sacramento Kings and an entrepreneur, will be leading the investment arm. The fund is not going to derive money from the state or students’ tuitions. Rather, it will be backed by the UC Investments office, which has $100 billion in its investment portfolio. Pension funds, endowments, and other capital pools are also included within the portfolio.
