Oregon State University (OSU) has invested in venture capital firm Rogue Venture Partners’ third fund, which is targeting a $30m close, OregonLive reported yesterday.
The fund has received approximately $5.3m in an initial tranche, according to a securities filing, though Tom Sperry, co-founder and managing director of Rogue, said the firm had in fact raised half of its target already.
Sperry also said OSU’s commitment made it the largest investor in the fund. He further noted that OSU was the biggest backer in the firm’s second vehicle, launched in 2016, which achieved a $10m close – the same size as the firm’s initial fund.
The 2016 fund trebled investors’ money within 18 months, according to Sperry, and the firm will now seek to invest larger sums and participate in more follow-on rounds.
Rogue Venture Partners does not have a remit to specifically invest in OSU’s spinouts, though it began…
