Track A

A3 University Venture Funds

Track: Startups and Gap Funding

Target Audience: Intermediate

Tony Raven, Cambridge Enterprise

Michael Burychka, IP Group
Michael Cardew-Hall, The Australian National University
Tom Hockaday, Technology Transfer Innovation

In 2015 Oxford Science Innovations was established as a $500 million fund to invest in spin outs from the University of Oxford while the University of California committed $250 million to supporting startups emerging from the University of California system. These are just two examples of the new wave of university-owned associated venture investment funds being created by universities to support their spin out processes. Sometimes needed to get a university technology to market, these new "patient capital" models that can invest for 20+ years are replacing the traditional 10-year life venture capital funds. Patient capital is now overtaking venture capital as the dominant source of technology investment in the UK, where around 20 universities have tied investment funds with over $1 billion of combined capital under management. This session will explore what is driving this new wave of university venture funds. Learn why universities have set them up and how they went about it, including the motivations, the financial structures and the sources of capital.  Hear the experiences and challenges, both good and bad. Attendees will come away with a good understanding of what is happening in the sector, the merits and the pitfalls of establishing a venture fund for their own institution, plus how to go about raising one.

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