The venture fund, focused on companies out of MIT, Harvard and Rochester, has collected more than $191m on its way to a $325m target.

Safar Partners, a US-based venture fund focused on technology companies emerging out of Massachusetts Institute of Technology (MIT), Harvard University and University of Rochester, has raised more than $191m, according to a regulatory filing.

The fund has a target of $325m. It is unclear who the limited partners are.

Founded in 2019, Safar invests from the seed to the growth stage in spinouts and joint ventures. The fund said it often writes the first cheque and has committed to formally incorporate environmental, social and corporate governance in its investment processes.

The fund is a signatory of the United Nations-backed Principles for Responsible Investment and it focuses on areas including cleantech and material science, artificial intelligence and information technology, and life sciences.

Specifically, its interests include sustainable energy, clean water, food management and global health challenges. Safar’s board is made up of scholars and other experts from MIT, Harvard and Rochester.

Safar’s portfolio includes spinouts such as Commonwealth Fusion Systems, a US-based fusion energy technology developer that emerged out of MIT.