US-based Ohio University (OU) has agreed to partner with local state peer Ohio State University (OSU) to set up a university venturing fund.

Sonitus Medical raised $25m in its series D round led by venture capital firm Abingworth.

The company plans to invest RMB 200m ($30m) for start-ups to be incubated by China Telecom for two years with between RMB50,000 and RMB100,000 each.

KPN bought mobile company Blau Mobilfunk in 2008 from Dirk Freise, Martin Ostermayer and Thorsten Rehling and the three have now decided to set up Fastlane Ventures in Germany with the phone operator's backing.

Michigan eLab said it is a" full venture capital fund that can support a startup beyond the seed round and all the way through to final liquidity.