Michael Lynch raises $1bn for Invoke Capital to support university ventures.
Michael Lynch, the former chief executive of software provider Autonomy acquired by computer maker Hewlett-Packard (HP), has reportedly raised £1bn ($1.5bn) for Invoke Capital, a venture capital firm to support university start-ups and industry collaboration.
In an interview last year, Lynch said he set up Invoke Capital in order to bring a “gun” to the venture capital “knife fight”.
Lynch, paraphrasing a quote from the film Untouchables, said this was a phrase – “bringing a gun to a knife fight” – widely used at Autonomy before its acquisition by technology company Hewlett-Packard for £6.2bn plus cash in October 2011 and that he would apply to help deliver success as a venture investor. (HP last year alleged it had overpaid for Autonomy after accounting improprieties, a claim which Lynch has rejected.)
He said in the interview he was now bringing together the former senior managers and “bright” technical…
