University of Michigan will supply an initial $2.75m in funding to MemryX, Ripple Science, GreenMark Biomedical, and Give and Take, and could invest as much as $20m altogether.
University of Michigan (U-M) yesterday confirmed it will invest a total of $2.75m in four of its spinouts, with up to $20m altogether available through follow-on rounds.
The money will come from the Michigan Investment in New Technology Startups (Mints) fund, a vehicle managed by the U-M Investment Office that was launched in 2011 to back technologies developed by faculty. Eligible spinouts have to secure external VC funding first.
The four spinouts include MemryX, which will receive $1m…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
