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Reichman University setting up $30MM VC fund for its graduates
- innovosource
- June 30, 2022
- 2:25 pm
Reichman University in Herzliya is setting up a venture capital fund that will invest mostly in startups founded by its graduates. The fund already has $30 million in commitments from investors which are to be allocated to pre-Seed and Seed investments in startups founded by students, even during their studies.
Investors in the new fund include VC fund Pitango and the innovation and investment arm of the Schestowitz Group. The university will not be investing money in the fund, but will serve as a General Partner (GP) and receive 2% in commission fees and a 20% success fee as is accustomed in the VC world. With the university being a non-profit organization, the profits from the fund will be placed in an endowment fund being set up by the university in a model similar to that of many rich universities in the U.S. who manage billions of dollars in funds.
Source: Reichman University setting up VC fund for its graduates | Ctech
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