UK - MTI holds first close of university fund

Commitments have come from a broad range of institutions including including the European Investment Fund, the National Endowment for Science Technology and the Arts and the Co-operative Insurance Society Fund.

The fund is targeting a final close on €65 million.

The fund will make most of its initial investments in the £250,000 - £750,000 range, but with the intention and the capacity to continue investing up to an average of £2m - £3m. The fund is expected to comprise a portfolio of approximately 20 investments.

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