The Berkeley Frontier Fund, which will invest $50 million in entrepreneurs affiliated to the University of California at Berkeley, makes its debut today. As state resources tighten, the fund has agreed to provide the institution $25 million.
In an interview with VentureBeat, the fund’s CEO, Richard Chan, claimed that the state can only pay roughly 13% of UC Berkeley’s overall expenses right now. That’s why he championed the establishment of a venture fund to capitalize on the school’s technical strength among its students, alumni, and staff to help launch new businesses.
Read Full Story Here: Berkeley Frontier Fund debuts with $50M and pledge to give $25M to UC Berkeley | VentureBeat
