Princeton University has approved a six-figure commitment to the student-run Prospect Student Ventures launched last year.
Princeton University will supply $110,000 to student-run venture capital fund Prospect Student Ventures (PSV), the Daily Princetonian reported today.
PSV was launched last summer by three students – Ayushi Sinha, Kelvin Yu and Tinashe Handina – and will invest in startups founded by their peers. Sinha was previously president of the Princeton Entrepreneurship Club and co-founded clean water company WellPower.
She said: “We have brilliant ideas, projects and research coming out of Princeton. Unfortunately, most never move past the ideation stage because of a lack of access to early-stage funds.”
PSV will not seek to take equity stakes but will aim to train entrepreneurs and investors. The $110,000 investment is intended to last for three years and the fund will invest between $1,000 and $10,000.
Another $138,000 in alumni donations to the fund are pending approval by the university. Princeton’s own commitment is being provided through…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
