Fitz Gate Ventures has started raising the successor to its initial $10m fund mainly focused on spinouts and startups linked to Princeton University.
US-based university venture firm Fitz Gate Ventures has begun raising a targeted $30m follow-up fund mainly focused on spinouts and affiliated businesses of Princeton University, according to a regulatory filing.
The identity of the fund’s potential partners is unclear, though the filing states Fitz Gate will focus on pooled investment fund interests. Fitz Gate’s website suggests the fund was initially to be sized at $20m.
Founded in 2016, Fitz Gate Ventures primarily backs early-stage businesses that feature at least one Princeton faculty member, alumnus or student on the founding or senior management team.
The firm’s advisory board consists of 200 faculty, alumni, administrators, trustees and students drawn from Princeton’s worldwide community, which also assists Fitz Gate with venture discovery and due diligence while providing investees with mentoring and networking opportunities.
The first Fitz Gate Ventures vehicle closed with $10m from undisclosed investors in August 2017 and has…
