The fund, consisting of $8m, was created by a group of alumni.

Life sciences-focused private equity firm BVCF has completed a third fund that will target China-based investments, and Novartis is amongst the backers.

The fund was teased by chancellor Nicholas S. Zeppos during a recent speech.

HGTF has received financing from Germany-based pharmaceutical company Bayer, which has become the twentieth investor in its High-Tech Gruenderfonds II fund.

European accelerator programme Startupbootcamp has secured support from corporates including Nokia, Bosch, Cisco and Castrol for its Berlin accelerator, which will connect with San Francisco.

The financial services firm, which cut ties with venture capital affiliate North Hill in 2012, plans to establish a corporate venturing subsidiary that will target fintech startups.

University Ventures, a VC backed by Bertelsmann and the University of Texas Investment Management Company, is half way to its $350m fund raise.