Academic ventures

Following in the steps of another large network of public universities and research institutions, the University of California plans to launch an independent strategic venture firm to invest in "UC research-fueled enterprises" - but with a lot more capital to work with.

The UC Board of Regents last week approved a proposal to create UC Ventures. The firm will have up to $250 million to invest when it begins operations late in 2015. The money will come from the Office of the Chief Investment Officer of the Regents, which manages UC's retirement, endowment and cash assets...