Third-party venture firm University of Arizona Venture Capital raised its first fund last year and has since backed five Arizona-linked businesses with an average cheque size of $2m.

University of Arizona Venture Capital (UAVC), a third-party VC investment firm set up to back Arizona spinouts, is seeking $100m for a second venture fund to follow the launch of its first vehicle in 2018, the university announced on Friday.
The fund’s potential investors have not been revealed. It typically invests approximately $2m in businesses founded by Arizona faculty, students, alumni and affiliates.
UAVC has so far has added five companies to its portfolio: antenna manufacturing spinout

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