Launched in October, the $25m Michigan Investment in New Technology Startups (MINTS) fund invests in companies built from its academics' research as long as an independent venture capital firm leads the round.

Crossbar, a US-based maker of computer memory devices, has received an undisclosed amount as the first deal from the University of Michigan’s (UM) $25m venture fund.

Venture capital firms Kleiner Perkins Caufield & Byers, Artiman Ventures and Northern Light Venture Capital led the series B round for Crossbar.

Launched in October, the $25m Michigan Investment in New Technology Startups (MINTS) fund invests in companies built from its academics’ research as long as an independent venture capital firm leads the round.

Wei Lu, associate professor in UM’s Department of Electrical Engineering and Computer Science and co-founder of Crossbar, which is developing a non-volatile memory technology, said: "Investment from the university is a clear indication of their continued commitment to our technology and its potential impact of changing the future of the silicon industry. It also demonstrates the university’s commitment to advancing new disruptive technology."

UM Tech Transfer has helped launch 100…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?