Queen Mary University of London has formed a venture capital fund to invest in social enterprises formed by students and graduates from diverse communities.
Queen Mary University of London yesterday announced a new student-led venture capital fund that will back social enterprises founded by current students and recent graduates.
The vehicle, QM Social Venture Fund, will be managed by Creator Fund on behalf of Queen Mary’s School of Business and Management. Its target size was not disclosed.
The fund will be aimed at early-stage startups with a defined social mission and target founders from diverse backgrounds.
Students supervising the QM Social Venture Fund will be selected from the business school and will receive relevant training.
The initiative forms part of Queen Mary’s efforts to connect its talent to venture capital services which impact communities, startups and third-sector agents in east London where the institution is based.
QM Social Venture’s website states applications were due to open in summer 2020 although its plans may have changed in light of covid-19.
Joanne Zhang, director of Queen Mary’s Entrepreneurship Hub and a co-founder of the fund, said: “Diversity and inclusion remain a barrier to success in the startup world.
“It takes startups of all shapes and sizes to tackle the challenges in our society today. Recent research shows that doing good has become good business and social impact investing ecosystem is being built from the bottom up.”
