Fundraising

Flagship Pioneering has re-opened its Fund VII to raise an additional $2.23bn that brought the vehicle’s total capital to $3.37bn.

The Industrial Biotechnology Innovation Centre will invest in research projects at Scottish universities to support the creation of more spinouts.

UCL Technology Fund has participated in a $145m round that will allow Apollo Therapeutics to advance assets into the clinic and open a US office.

Deeptech Labs, an incubator backed by Cambridge Innovation Capital, has announced its inaugural cohort of five startups that have each received $485,000.

Ohio State University has again thrown its weight behind Rev1 Ventures, whose latest fund also attracted University of Dayton and multiple corporates.

IP Group has set up a joint venture with China Everbright that will invest in Chinese subsidiaries of the commercialisation firm’s portfolio through a $235m-target fund.

Obama signals his intention to earmark $100m for brain research in the 2014 budget.

Michael Lynch raises $1bn for Invoke Capital to support university ventures.

The company has committed $100m to the Catalyst Fund for early-stage start-ups, which may be available to university startups.