Washington University officials on Tuesday announced a new $2 million seed fund aimed at investing in startups associated with the university.
The fund, called the William Greenleaf Eliot Seed Fund, will be managed by the university’s Skandalaris Center for Interdisciplinary Innovation and Entrepreneurship. About a dozen angel investors who contributed to the fund will serve on an advisory committee to review funding proposals.
And according to PitchBook, Washington University was among the nation’s best for entrepreneurs looking to attract venture capital, with entrepreneurs associated with the school raising more than $700 million between 2010 and July 2015.
“We are thrilled to initiate this new partnership between private investors and Washington University,” Emre Toker, managing director of the Skandalaris Center, said in a statement. “This new venture-capital fund will help us further support the science, technology and medical work being done at the university in the innovation/entrepreneurship space, and help to launch and further elevate that great work.”
Read more: St. Louis Business Journal