We'll just quote without comment:
The University of California
has named a well-known Silicon Valley entrepreneur to lead a new
venture capital fund aimed at bringing inventions based on faculty and
student research to market.
UC President Janet Napolitano
announced Tuesday that TIBCO Software founder Vivek Ranadivé would
oversee the independent fund that will be launched with $250 million
from the office that manages the university's investments.
Ranadivé, a best-selling author and co-owner of the NBA's Sacramento Kings, says he plans to secure additional funding from private investors and to contribute a 5 percent stake himself.
Napolitano says the university's earnings would be funneled back into its retirement and endowment accounts.
But
she says the venture fund's main purpose would be to finance the
development of promising products in areas such as life sciences,
technology, energy and agriculture.
Source: http://www.sfgate.com/news/education/article/Entrepreneur-named-to-lead-university-s-venture-6700265.php
No comments:
Post a Comment