The MIT-affiliated Engine Fund has achieved a final close of more than $205m, above its initial target of $150m.
The Engine Fund, a tough tech-focused VC vehicle associated with Massachusetts Institute of Technology’s Engine incubator, has reached a final oversubscribed close of $205m, according to the MIT 2018 Treasurer’s Report.
The capital, which surpassed MIT’s original $150m target, includes a $25m commitment from the university originally reported by GUV in April 2017, in addition to money from VC funds and family offices.
The fund will support early-stage businesses in sectors where commercialisation is particularly difficult, such…
