Even in times of budget constraints, the University of California has never been shy about spending its money and helping out its students. The recent announcement of a $250 million investment fund – straight from their own portfolio and the pockets of key third party investors – is set to be invested in worthy start-ups in the state of California within the coming years.
A number of different small businesses could benefit. The university is looking into a series of industry verticals for these investments: a strong focus will be in life sciences, technology, and energy startups.
The project is being led by the owner of the Sacramento Kings, Vivek Ranadive and the fund is being set up for students, professors and alumni.
So if you are a startup, and have been turned down by multiple angel investors and VC firms, there is a new option for financing out there.