Osage University Partners (OUP), the investment consortium of 70 research institutes and universities which invests in spin-outs and companies utilising its partners’ intellectual property, has closed its second fund at $215m.

An additional $15m over its target, the fund will use a similar strategy to its first fund. The universities sign over co-investment rights to OUP in return for a share in the fund’s overall profit. The fund will also pursue a wide investment strategy, investing in all sectors at…