US-based venture capital firm Cayuga Venture Fund has launched its sixth vehicle, Cayuga Venture Fund VI, the Ithaca Journal reported on Wednesday.
The fund has a target size of $100m and will rely on the firm’s existing ties with Cornell University to identify potential investees. It will specifically assist companies emerging out of Cornell Tech, an engineering campus anchored by Jacobs Technion-Cornell Institute.
The institute is a joint academic venture between Cornell University and Technion-Israel Institute of Technology.
The fund will make early-stage investments, with the aim of supporting startups throughout their lifecycle. It will be sector agnostic.
AJ Edwards, former chief investment officer of Cornell University’s $7bn endowment, will join Cayuga as a partner once the fund is closed. He said: “I am very excited to join CVF.
“Having known Phil, Zach and Jennifer (Tegan) for the last ten years, it was an easy decision to make. CVF has a great base of dedicated, long-term limited partners, and we look forward to raising and successfully deploying CVF VI, generating strong returns and contributing to the economic development of the region.”
