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ARTICLE | Financial News

University of California planning venture fund

September 17, 2014 2:04 AM UTC

The University of California board of regents is set to vote on Thursday on a proposal to create an independent venture firm with up to $250 million to invest in commercial opportunities that emerge from UC system research, including labs and medical centers.

The Office of the Chief Investment Officer of the Regents will fund the new firm, which will be called UC Ventures. Pending the board's vote, the university hopes to launch the fund by late next year. ...