University of Montana has become the sole institutional limited partner (LP) in VC firm Next Frontier Capital’s second fund, a $38m vehicle that aims to support high-value Montana industries, VentureBeat reported yesterday.

The fund’s other LPs have been drawn from a range of unnamed individual investors. Will Price, founder of Next Frontier Capital, will act as its general partner.

Next Frontier Capital backs startups from industries crucial to Montana, such as software, healthcare, optics and photonics. It is unclear whether…

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