Strathclyde Innovation Fund
In February 2007 Braveheart and the University of Strathclyde announced an agreement to create the Strathclyde Innovation Fund (SIF). The fund is unique in its structure and is the first of its kind in a UK higher education institution.
SIF has the exclusive right of first refusal to fund all commercial investment opportunities that arise in respect of intellectual property emanating from the University of Strathclyde. SIF will operate for an initial period of eight years, extendable to 10 with the agreement of the partners in the fund.
Braveheart is an investor in SIF and also acts as Fund Manager. Under the terms of the partnership, 25 per cent of the Fund Manager’s performance bonus is paid back to the University, providing it with further direct benefit from those opportunities which succeed in generating returns. SIF also makes a small contribution to the running costs of a department that sponsors a successful investment application.
A first closing of the fund was achieved in September 2008, with initial commitments totalling £4.5 million from investors comprising Braveheart, the University of Strathclyde and Strathclyde alumni. This also included Scottish Enterprise's Scottish Co-investment Fund, which will co-invest alongside the SIF by committing a specific allocation for use by SIF.
Subscription in SIF is subject to a minimum investment and investors need to satisfy regulatory requirements in order to participate. If you are interested in hearing more please contact us.