The fund, first announced in October 2016, has been launched with $10m in capital to invest in spinouts and startups that emerge from the university or surrounding region.

The cleantech spinout has signed an agreement with University of Minnesota to commercialise research that converts organic waste materials into synthetic gas.

The fund, backed by Tsinghua Unigroup, will support the growth of industries including high-end manufacturing, IT, aerospace, new energy, new materials, pharmaceuticals and internet-related services.

Having raised more than $150m, the new incubator will now focus on selecting startups.

Eric Toone, who previously led the Innovation and Entrepreneurship Initiative at Duke, and David Danielson, a precourt energy scholar at Stanford, have joined Breakthrough Energy Ventures.

The Toronto spinout most recently secured $1.9m in a series A round, backed by Mars Innovation and Kaust Innovation Fund.

Cambridge spinout Breathing Buildings has been acquired by Volution Group for an undisclosed amount.

The solar technology provider, an Oxford University spinoff, received additional capital from investors like Statoil's $200m energy ventures fund.