The incubator is expected to attract up to 30 battery companies in California who can tap researchers and use equipment at Berkeley Lab and other research institutions.

The incubator is expected to attract up to 30 battery companies in California who can tap researchers and use equipment at Berkeley Lab and other research institutions.

The inter-university venturing QBIC Fund is the successor of the Baekeland II-Fund of UGent and the BI3-fund of VUB.

The challenge of managing a diverse set of strategic LPs is an area of increasing importance to many venture capital firms.

Gonnissen had spent two and a half years as manager of corporate venturing at Bekaert before leaving last month for a university venturing fund.

Asahi Glass Company, Asahi Kasei Innovation Partners, Bekaert, 9th Street Investments (a CoorsTek affiliate), JSR, Mitsubishi Chemical, Murata Manufacturing Company, Nitto Denko and Sabic Ventures commit to $50m first close.

General Electric and XD Electric have formed a partnership to deliver electric transmission and distribution.

The wireless communications company had been reportedly backed in a $15.5m round by defence companies Lockheed Martin and Northrop Grumman in 2009.

Energy Technology Ventures and Chevron Technology Ventures are joined in the round by Jebsen Asset Management, which invests on behalf of the Kristian Gerhard Jebsen shipping company, and venture firms Energy Ventures, Viking Venture, and Investinor.

The lighting company working out of the Portland State University Business Accelerator is on course to raise $3m.