The MSU Foundation-run Pre-Seed III Fund has secured an additional $6.5m from MEDC, more than a year after the vehicle was formed with $3m.
The commercialisation firm’s US operation confirmed it raised $58.6m during the first half of the year, although it had already disclosed $50m of this previously.
The European Investment Fund has partnered two banks to launch an investment platform that aims to support the creation of 100 spinouts.
The programme, which has created 34 spinouts to date, has added an additional university partner and secured more government funding.
The UTEC Founders Program will consist of two tracks, with one investing up to $1m in flexible funding and another offering up to $100,000 in grants.
The fund will invest in companies linked to École Polytechnique, including spinouts, alumni-founded startups or businesses incubated by the school.