The Engine has already made seven investments in a bid to commercialise technologies that require a longer-term view than most.

The Engine, a US-based program initiated by Massachusetts Institute of Technology (MIT) aimed at complex technologies, has raised $200m for its first fund.

MIT itself provided $25m of the funding, as reported by GUV in April 2017, with the remainder sourced from venture capital funds and family-operated institutions. The Engine had achieved a first close of $150m in April 2017.

The initiative is aimed at early-stage companies with “tough tech” business models that require significant resources to commercialise. Sectors…