Following the launch of a £100m University Technology fund for institutional investors earlier this month, London-based Venture Technologies, an independent venture capital firm, has launched a £30m venture capital trust targeted at retail investors interested in intellectual property.
The Venture Technologies Academic Research Partners trust will develop the intellectual property of four UK universities - University College London, Imperial College London, the University of Bristol and the University of Southampton.
The four universities will compete for the £130m of combined funds from Venture Technologies' retail and institutional funds. Financing will be awarded to university spin-off companies with the best products.
The firm is already considering investing in three such companies. Swan Bailey, which has developed a purchasing management system, comes from Imperial, as does Orion, which has produced production software for electronic components. University College London has spun-off a knowledge management software company, which has yet to be named.
The new fund, which is expected to close at the end of March, is managed by Roger Ashby, Ed Stacey and Mark Wiltsher.
Venture Technologies is at http://www.venture-technologies.com
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