Billionaire Vivek Ranadiv headed the University of California Venture Fund

Last September, the University of California Board of Management approved the creation of an independent venture capital fund, which will have $ 250 million. Presumably, the fund will invest mainly in research-related startups at the University of California, focusing on companies of students, teachers and graduates of the university. Last week, entrepreneur and billionaire Vivek Ranadivé, who owns the Sacramento Kings basketball club, became the leader of the fund.

“We will cooperate with incubators both at UC and outside. We intend to cooperate with clubs and business communities. ” - says Vivek Ranadiv.

Venture capital funds, especially Anderssen Horowitz (Andreessen Horowitz), have long invested in startups, one way or another connected with universities - in particular, Stenfond University and the University of California at Berkeley. Both are excellent research institutions, possessing an excellent scientific base, excellent technical resources, cheap labor and many bright talented minds. The University of California Foundation plans to invest in startups in the later stages of financing companies.
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However, at present, the Venture Fund of the University of California is at the initial stage of its development - it has not yet been precisely decided on which companies will spend money and in what quantities. In addition to Ranadiv, who is currently looking for a suitable financial director for the project, there are no details on the structure of the fund and its participants.