Washington University in St Louis has unveiled a $2m seed fund aimed at companies with a link to the institution.
Washington University in St Louis (WUSTL) revealed its $2m William Greenleaf Eliot Seed Fund on Tuesday that will invest in spinouts as well as startups launched by students and recent alumni.
The cash has been provided by a group of approximately a dozen angel investors, who will serve on an advisory committee to review investment opportunities. They may also serve as strategic mentors to portfolio companies.
Named after the institution’s co-founder William Greenleaf Eliot, the fund will be managed by the university’s Skandalaris Center for Interdisciplinary Innovation and Entrepreneurship.
Emre Toker, managing director of the Skandalaris Center, said: “We are thrilled to initiate this new partnership between private investors and Washington University.
“This new venture capital fund will help us further support the science, technology and medical work being done at the university in the innovation and entrepreneurship space, and help to launch and further elevate that great work.
Holden Thorp, provost of Washington University in St Louis, said: “The William Greenleaf Eliot Seed Fund is an extension of the many supports and resources the Skandalaris Center already provides to startups within the Washington University community.
“The university is proud to offer another option to nurture these early-stage businesses as they develop, evolve and thrive.”
