Penn State Alumni Association has contributed $500,000 to a VC fund called 1855 Capital that has so far raised at least $10.5m to supply seed and early-stage businesses linked to the university.
The fund’s general partner is 1855 Capital Partners, which retains sole control of the investments and operations.
Local funding body Erie County Gaming Revenue Authority invested $500,000 in 1855 Capital Partners in January 2018, though it was unclear whether this was meant for the fund.
1855 Capital identifies,…
