UVA’s seed fund will be run by its TTO over an initial term of 10 years to back spinouts as well as other university-linked companies.
University of Virginia (UVA) today announced it will launch a $10m seed fund called UVA Licensing & Venture Group Seed Fund next year tasked with backing spinouts over a 10-year horizon.
UVA’s Health System will provide half of the funding, with the remainder sourced from unrestricted endowments. UVA Licensing & Venture Group, the university’s tech transfer office, will manage the vehicle, marking the first time the office has had the option of supplying spinouts capital directly.
The fund…
