University of Florida's $1m seed fund backed four university spinouts in its inaugural year in sectors including industrial and healthcare.

UF Innovate | Ventures, the  $1m per year early-stage venturing fund formed by UF Innovate, University of Florida’s innovation unit, has confirmed it backed four spinouts in its inaugural fiscal year.
The spinouts, all covered by GUV previously, were named as:

  • Abfero Pharmaceuticals, a drug development spinout targeting retinal and neurological diseases that raised $680,000 from investors including UF Innovate I Ventures;
  • Atensa Therapeutics, a gene therapy spinout launched together with $8.2m of funding in July 2020;
  • Mattrix Technologies, a flat-panel LED display technology manufacturer that also counts materials supplier JSR Corporation as an investor;
  • TearClear, the eye disease therapy spinout that secured $22m of series B capital in August 2020.

UF Innovate | Ventures typically invests $200,000 to $500,000 per deal but primarily targets spinouts that already have interest confirmed from at least one third-party investor.
The fund was incepted as part of a wider restructuring that placed UF’s venture, tech transfer and incubation activities under a single banner.