University of Ulster to launch £12+ venture capital fund

The University of Ulster has announced the launch of £12m+ venture capital fund, named the Alpha Fund and said to be the first of its kind in Ireland or the UK. Alpha Fund will channel venture capital sourced in the US toward ‘spin-out’ and ‘spin-in’ companies working with the University in Northern Ireland, focusing – according to Professor John Hughes, the university’s Pro-Vice-Chancellor for Research and Development – primarily on first stage investment financing for biotechnology spin outs. The fund will be independently managed for the university and will be given first right of refusal on any projected commercialisation of UU research.

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