A new $250m fund is being set up by the University of California system to invest in research.

Spin-outs from Illinois state universities will be able to apply for up to $25,000 in investments.

UC Ventures will invest in research at the University of California system.

The non-profit healthcare provider will invest in early and mid-stage companies in order to spur technology that can improve medical care.

Medical device company Esco has launched a venture capital fund targeting the life sciences, medical and healthcare technologies sectors, which will invest $8m over a three-year period.

The online travel booker will target early-stage travel companies, and will plan to focus on mobile travel technology in particular.

The e-commerce company will work with eight start-ups at a time as it seeks to adapt to an Indian economy that is increasingly moving on to mobile devices.

Alternative asset investment firm TrueBridge has raised a third fund-of-funds that counts agribusiness Syngenta as a limited partner.

The IT services company is expanding its partnership with venture firm Fenox to a fund that will target companies in North America and Southeast Asia.

The telecommunications firm has raised the cash for a new fund, according to an SEC filing made yesterday.