A landmark $5-million institutional venture fund launched at Western University will invest directly in early stage companies founded by entrepreneurs in the campus community.
In a first for the university, the Western Propel Fund will offer up to six investments of $150,000 per year for five years to startup businesses with at least one founder who is a Western student, faculty or staff member or graduate.
“The fund signals to the entrepreneurial community, here at Western and beyond, that we are serious about our entrepreneurs’ success,” said Eric Morse, executive director of Western’s Morrissette Institute for Entrepreneurship, powered by Ivey.
Western and Ivey Business School are each committing $2 million to the Propel Fund, while Morrissette Entrepreneurship will contribute another $1 million. Together, their investments will power the fund through 2030.
The Propel Fund is designed to fill a specific gap – companies far enough along to show promise but too small to attract institutional venture capital. To be eligible, companies must have raised less than $1 million in total capital.
Source: New Western Propel Fund invests in startups – Western News – Western University
