SkyDeck, UC Berkeley’s startup accelerator, closed its new fund, at $24m.
Backers included Sequoia Capital and Mayfair Venture Capital.
Led by Chon Tang (Cal EECS ’98), a former hedge fund manager who has been investing in seed-stage startups for 12 years, the Berkeley SkyDeck Fund aims to help founders make their first outside hires, finish their product, test go-to market strategy, and more.
The Berkeley SkyDeck Fund has an exclusive partnership with UC Berkeley to invest in SkyDeck startups. One-half of the fund’s carry (profit) will be donated back to the University to support research, education, and entrepreneurship with the goal of sending millions of dollars back to campus.
The Spring 2018 SkyDeck cohort teams were the first SkyTeams to receive fund investments in the form of a a $100k cash investment per team in exchange for a 5% equity stake in their startups.
These 16 startups, ranging in industries from biotech to AI, additionally benefit from SkyDeck’s mentorship program, coworking space, and exclusive events.
Have a look at SkyDeck’s current portfolio here.
SkyDeck is a joint program of the UC Berkeley Haas School of Business, the College of Engineering, and the Office of the Vice Chancellor for Research.