MSU Research Foundation launches new $5 million fund focused on its start-ups
“We have worked hard to put together an ecosystem for entrepreneurs that embraces all of the creative talents across the University.”
The Michigan State University Research Foundation has announced the establishment of RCV Opportunity Fund II, a $5 million follow-on investment fund that enables the organization to continue to build upon its success.
Originally formed in 2015, RCV is a wholly owned subsidiary of the Foundation and provides gap and pre-seed funding for start-ups spinning out of the Michigan State University (MSU) innovation ecosystem. To date, RCV has deployed more than $11 million in funds to 100 start-up companies through the RCV Pre-Seed Fund and RCV Opportunity Fund I.
“We have worked hard to put together an ecosystem for entrepreneurs that embraces all of the creative talents across the University,” said MSU Research Foundation Executive Director David Washburn who is a former President of the University of Tennessee Research Foundation. “The continuation of this successful program ensures a critical capital gap for our own startup companies remains strong and we can help innovative ideas created by and in collaboration with Spartans have the chance to reach their intended markets.”
RCV Funds have deployed capital to early-stage companies that are deemed high-tech and high-growth and in emerging technology sectors such as AgTech, artificial intelligence, and machine learning, CleanTech, digital health and health tech, life sciences, mobility, and quantum computing.
Click here to read the news release announcing the newest fund.
