FORT COLLINS, Colo.—Colorado State University is supporting startup companies connected to the university with a new private equity investment fund.
CSU Fund I LLC was created by Colorado State University and CSU Ventures Inc. It is managed by CSU Management Corp., a subsidiary of the private, nonprofit CSU Ventures.
The fund already has invested in Prieto Battery Inc., which is working to build a high-performance, reliable, low-cost lithium ion battery. The technology was conceived by CSU assistant professor Amy Prieto.
“We are in a period of time where early-stage capital is very constrained,” Prieto Battery CEO Tim Reeser said. “CSU coming on with this venture fund is very timely as well as critical.”
Mark Wdowik, president and CEO of CSU Management Corp. and executive fund director for CSU Fund I, said the fund is evaluating eight other companies that qualify for investment opportunities.
He wouldn’t disclose how much money has been invested or how many investors the fund has.
Companies receiving an investment from CSU Fund I must have an established association with CSU such as a licensing relationship, research partnership, joint venture or other similar business relationship.
“This resource offers a critical piece of the puzzle for accelerating our cutting-edge research,” said CSU President Tony Frank in a prepared statement. “We are pleased that investors see the promise in Colorado State’s faculty and research excellence. Few universities have initiated this type of fund, which says a lot about the potential impact, success and commercial value of our programs as well as investors’ support of CSU.”
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Information from: Fort Collins Coloradoan,
