University of California, Berkeley's accelerator has closed an oversubscribed fund that numbers Alibaba among its limited partners.

SkyDeck, the startup accelerator run by University of California (UC), Berkeley, closed an oversubscribed $24m fund on Friday with capital from limited partners including e- commerce group Alibaba, Axios reported.

Venture capital firms Sequoia Capital and Mayfair Venture Capital supplied capital along with assorted alumni that participated through various investment vehicles. The fund had an original target size of $10m, according to Axios.

Berkeley SkyDeck Fund has an exclusive license with the university to invest in SkyDeck’s accelerator participants. It…