Innovation and Entrepreneurship Initiative
UC Ventures Program
Goal: To invest in opportunities arising from the research innovation, entrepreneurship and technology commercialization efforts of the UC System.
Strategy: The UC Ventures Program will reside in the Office of the Chief Investment Officer (OCIO) and envisions a three-pronged strategy.
Local Fund Strategy
OCIO will seek to invest $25M in aggregate in local, profit-seeking, investment funds (Local Funds) being raised across the UC system, targeting seed and early stage innovation coming out of the campuses, medical centers, schools, and labs. Each Local Fund must meet the requirements set forth in the Local Fund criteria:
- Invest at least 70 percent of its capital in UC startups
- Focus on angel and seed stage opportunities
- Focus on generating an attractive return
- First raise $1M of outside capital on its own
- Return a portion of profits to its campus
If a Local Fund meets the criteria, it will be subject to an independent due diligence review by a third party team, and the OCIO will make the final decision. OCIO may invest up to $3M in any individual Local Fund from the UC Ventures Program.
Venture Capital Fund
OCIO will be an anchor investor in a venture capital fund that will predominantly invest in UC-related venture opportunities and to a lesser extent in opportunities outside of UC. We are in discussions with interested parties.
Collaborate with Existing OCIO VC Portfolio
In addition to the venture capital fund, OCIO will refer UC opportunities to our existing venture capital funds in the portfolio we are invested in across the globe. This presents an opportunity to be a value-added partner beyond capital provider and strengthen the venture capital network supporting UC innovation.
For more information, contact UC Ventures.