The two Australia universities come together to create a biomedical research enterprise called M2 Venture Catalyst with the backing of the state of Victoria.

The fund, deployed through the OSVR initiative, will provide funding support to VR content developers.

University of Montana Foundation backs Next Frontier Capital's inaugural fund that supports technology and healthcare companies in the state.

Chile brings together 26 universities and 12 science laboratories with a fund to centralise technology transfer with three hubs in the country.

Golden Gate Ventures has closed an oversubscribed second fund at $60m backed by limited partners including Hanwha Life Insurance, Naver and Hubert Burda Media.

Investment firm Gilde Healthcare has closed its latest fund, which features Royal Philips as cornerstone investor and Johnson & Johnson as a limited partner.

Vivo Capital's Panda Fund has attracted commitments from Cathay Life Insurance and Taiwan Silicon Valley Technology Fund, as well as financial institutions and family offices.

Cambridge Enterprise comes out on top for money returned on investments with impressive numbers across the board.

The VC fund will continue its development work with spinouts from Pittsburgh University.