ITU Ventures Raises $120M

Los Angeles-based ITU Ventures, a venture firm focused on seed and early stage investments in university spinoffs, is announcing today that it has closed a new fund, ITU Ventures III. The new fund is closing with total commitments of $120M. ITU Ventures invests in technology businesses emerging from universities, research institutions, and corporations. The fund said that its limited partners are instutitional investors consistenting of university endowments, pension funds, and fund of funds from North America ane Europe. ITU said that it is specifically targeting communication, semiconductor, and software companies with the fund. More information »