University Of California Raises $250M Venture Fund

The University of California system said Tuesday that it has launched a new venture capital fund, with $250M in investments, to specifically invest in opportunities emerging from the University of California's ten campuses. The UC System said the new fund will be led by Silicon Valley entrepreneur Vivek Randadive. The new fund comes as a result of a September 2014 decision by the UC Board of Regents, which approved of the concept of investing in companies in such areas as life sciences, technology, energy, agriculture and materials. The school said that the fund will not use tuition or state funding.