The University of North Carolina at Chapel Hill has formed a $5m venture capital fund to support University startups.
The Carolina Research Venture Fund will support University startup companies in overcoming funding gaps, accelerate growth and help move ideas from University labs to the commercial marketplace.
The University already has a number of avenues through which students and faculty can amplify their ideas, such as Launching the Venture, the CUBE social innovation hub at the Campus Y, Launch Chapel Hill, Carolina Challenge, Carolina KickStart, the Frank Hawkins Kenan Institute of Private Enterprise and the Office of Technology Development.
The fund will be overseen by a Board of Directors, composed of trustees, administrators, researchers and others. The board will hire one or more independent managers to oversee the fund operations. It will also have an Advisory Board of leading venture capitalists from across the nation.
The $5m sum derived from investment earnings on non-state funds.